Consumer products maker The Procter & Gamble Company (
) 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
The Bottom Line
We have been recommending shares of Procter & Gamble (
) 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 (
) is a "Recommended" dividend stock, holding a Dividend.com 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