UPDATE: Church & Dwight Posts Higher Q4 Profit, Raises Dividend

Church & Dwight Co

reported a 27% rise in its fourth-quarter earnings. Church & Dwight now projects 2013 earnings of $2.79 per share. It also raised its quarterly dividend by 17% to $0.28 per share. Church & Dwight's quarterly profit surged to $80.8 million, or $0.57 per share, from $63.8 million, or $0.44 per share, in the year-ago period. The company in November expected earnings of around $0.55 per share. Its sales rose 11% to $809.7 million, beating analysts' estimates of $805 million. Its gross margin rose to 44.3% from 43.3%. Church & Dwight shares closed at $58.40 yesterday.