Procter & Gamble Boosts Dividend by 9% (PG)


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Consumer products maker The Procter & Gamble Company ( PG ) late Monday announced that its board of directors has approved a 9% increase in its quarterly dividend payout.

The new dividend of 52.5 cents per share, up from 48.18 cents per share, will be payable on May 16 to shareholders of record as of April 29.

This latest increase marks the 55th consecutive year the company has raised its dividend payout.

Procter & Gamble shares were mostly flat in premarket trading Tuesday.

The Bottom Line
We have been recommending shares of Procter & Gamble ( PG ) since Sept.1, 2009, when the stock was trading at $54.11. The company will now have a 3.38% dividend yield, based on the higher dividend payout and last night's closing stock price of $62.19.

The Procter & Gamble Company ( PG ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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