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Stock Market & Financial Investment News

News Breaks
April 21, 2014
07:31 EDTKMBKimberly Clark reports Q1 adjusted EPS $1.48, consensus $1.47
Reports Q1 revenue $5.28B, consensus $5.32B
News For KMB From The Last 14 Days
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February 23, 2015
09:04 EDTKMBKimberly Clark signs agreements to purchase pension annuity contracts
Kimberly-Clark announced it has entered into purchase agreements with The Prudential Insurance Company of America and Massachusetts Mutual Life Insurance Company for group annuity contracts that will transfer payment responsibility for retirement pension benefits owed to approximately 21,000 Kimberly-Clark retirees in the U.S. to the two insurers. By transferring the obligations to Prudential and MassMutual, Kimberly-Clark will reduce its pension projected benefit obligation by approximately $2.5B. Kimberly-Clark expects to make a $400M to $475M contribution to its U.S. pension plan to support this transaction. This contribution will be funded by debt financing and is incremental to the company's previous assumption for 2015 global defined benefit pension plan contributions of up to $100M. As a result of the annuity purchases, Kimberly-Clark expects to recognize a non-cash pension settlement charge of $0.8 billion after tax ($1.3 billion before-tax) in the second quarter of 2015. This charge will be excluded from the company's 2015 adjusted results.
February 19, 2015
09:03 EDTKMBKimberly Clark increases dividend 4.8% to 88cc
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February 18, 2015
16:32 EDTKMBKimberly Clark CFO Buthman plans to retire at year end, Maria Henry to succeed
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