"At the meeting held today, the Board declared a second interim dividend for the financial year 2014-15 of Rs 8 per share of Re 1 each," Colgate-Palmolive said in a statement.
The dividend payout to the shareholders will be Rs 130.5 crore, the company added.
In October this year, the company had declared first interim Dividend of Rs 8 per share.
Colgate-Palmolive's oral care products includes toothpastes, tooth powder, toothbrushes and mouthwashes under the 'Colgate' brand.
For the second quarter ended September 30, 2014, the company reported 18.31 per cent increase in net profit at Rs 129.58 crore as against net profit of Rs 109.52 crore for the same period of previous fiscal.
Its net sales during the period stood at Rs 993.57 crore, up 10.92 per cent as compared to Rs 895.69 crore during the same period of previous financial year.
Shares of the company closed at Rs 1,869.85 on BSE, down 2.21 per cent from previous close.

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