This Dividend King Was Removed From the S&P 100. Here's Why It's a Great Buy for Long-Term Investors Anyway.
Colgate-Palmolive's removal from the index doesn't indicate its business is crumbling.
Overview
Colgate-Palmolive (NYSE: CL) has raised its dividend annually for 63 consecutive years. That makes it a Dividend King, or a company that has increased its payout for at least 50 years in a row, as well as a stable investment for income-oriented investors.
Over the past 20 years, it delivered a total return of 347% when reinvested dividends are included. It achieved that growth even as the U.S. endured two official recessions.
Details
But on Sept. 21, S&P Global removed Colgate-Palmolive from the S&P 100 index during its quarterly rebalancing, as its $69 billion market cap was too small to make the cut. That sounds like a major setback, but it doesn't change my bullish opinion about the stock.
Source
Originally published at www.fool.com.