Estee Lauder cuts dividend to 35c per share

With the complex prestige beauty landscape, including the particular difficulty in forecasting the timing of market stabilization and recovery in mainland China and Asia travel retail, the Company is reducing its dividend to a more appropriate payout ratio. The dividend reduction also affords more financial flexibility for the incoming leadership team to reaccelerate the company’s profitable growth trajectory. The company continues to view dividends as an important piece of its capital allocation strategy at an appropriate payout ratio. The company declared a quarterly dividend of 35c per share on its Class A and Class B Common Stock, payable in cash on December 16, 2024 to stockholders of record at the close of business on November 29, 2024.