This article was originally published in The Rose Sheet
Consumer products division revenues rose 13% in the first quarter, and operating income gained 18%. The company's consumer products include Dial liquid and bar soap and deodorant and Breck hair care. Consolidated revenues increased 23% to $784.9 mil. Net income was $17.2 mil., up 17.6%. Separately, Dial announced a 2- for-1 stock split, which will be effected as a tax-free stock dividend to be paid July 1, to shareholders of record by June 1. The stock split is intended to "send a positive signal about future stock price performance, achieve more attractive stock price levels to appeal to more types of investors, increase [the] stockholder base and increase float and liquidity in Dial common stock," the firm said
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