Avon 2008 Annual Report Download - page 88

Download and view the complete annual report

Please find page 88 of the 2008 Avon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

NOTE 19. Subsequent Events
On February 3, 2009, we announced an increase in our quarterly
cash dividend to $.21 per share from $.20 per share. The first
dividend at the new rate will be paid on March 2, 2009, to
shareholders of record on February 17, 2009. With this increase,
the indicated annual dividend rate is $.84 per share.
In February 2009, we announced a new restructuring program
under our multi-year turnaround plan. The restructuring
initiatives under the new program are expected to focus on
restructuring our global supply chain operations, realigning cer-
tain local business support functions to a more regional basis to
drive increased efficiencies, and streamlining transaction-related
services, including selective outsourcing. We expect to incur
restructuring charges and other costs to implement these
initiatives in the range of $300 to $400 before taxes over the
next several years.