The Estée Lauder Companies Inc. (NYSE:EL) announced today an increase in the quarterly dividend on the Company’s Class A and Class B Common Stock to $.43 per share, a 13% increase over the previous quarterly rate of $.38 per share. The $.43 per share quarterly dividend will be payable on December 17, 2018 to stockholders of record at the close of business on November 30, 2018.

Additionally, the Company’s Board of Directors authorized the repurchase of up to another 40 million shares of Class A Common Stock, or about 11% of the total outstanding common stock. This increases the total authorization to 256 million shares, of which approximately 212 million have been repurchased to date. The Company had a total of approximately 363 million common shares outstanding as of October 24, 2018.

Repurchases may be made in the open market or in privately negotiated transactions, depending on market conditions and other factors. The repurchased shares are held as treasury shares and may be used for general corporate purposes, including employee share incentive programs. Cash on hand or borrowings will be used to fund the purchases.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M•A•C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, By Kilian, BECCA and Too Faced.

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