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SUBSEQUENT EVENTS
3 Months Ended
Sep. 30, 2019
Subsequent Events [Abstract]  
Subsequent events SUBSEQUENT EVENTS
Quarterly Dividend
On November 6, 2019, the Company announced a quarterly cash dividend of $0.125 per share on its Common Stock, RSUs and phantom units. The dividend will be payable on December 27, 2019 to holders of record of Common Stock as of November 18, 2019. The shareholders will have an option to elect to receive their dividend 50% in cash and 50% in Common Stock.
Turnaround Plan Update
On October 21, 2019, the Company announced that as part of its ongoing strategic review of its business, management and the Board of Directors have determined that moving forward the Company will focus more intently on its fragrance, cosmetics and skin care businesses. As a result, Coty is launching a process to explore strategic alternatives, including divestiture, for its Professional Beauty business including associated hair brands sold by the Consumer Beauty division, as well as the Company’s Brazilian operations. The Company expects that the proceeds from any potential transaction will be used to pay down debt and return excess cash to shareholders.