No true income investor's portfolio would be complete
withoutProcter & Gamble (
), which has paid a dividend since 1890.
The consumer products giant just wrapped up a busy April,
which included fiscal third-quarter earnings, a dividend hike, a
new razor and a pet-food sale as it continues to restructure.
Last week, P&G reported a better-than-expected profit of
$1.04 a share, up 5% from last year. But revenue was flat at
$20.6 billion, missing. The company lowered its full-year
adjusted earnings growth outlook to a range of 3% to 5% vs. the
5% to 7% it saw earlier.
"We're operating in a slow-growth, highly competitive
environment, which places even greater importance on strong
innovation and productivity improvement," CEO A.G. Lafley, who
returned to the post in May 2013 after stepping down in 2009,
said in a statement.
On Tuesday, P&G delivered a new $11.49 razor, the Gillette
Fusion ProGlide with FlexBall technology that features a rolling
head and thinner blades for a close shave. A battery-powered
model, the Fusion ProGlide Power, is also available.
As part of its restructuring plan to save $10 billion by
fiscal 2016, P&G in April sold its Iams, Eukanuba and Natura
pet food brands to Mars Inc. for $2.9 billion. It plans to shed
noncore assets to focus on its more profitable personal and home
On April 7, the Tide and Crest maker boosted its quarterly
dividend to 64.36 cents a share from 60.15 cents, its 58th
consecutive year of increases. That track record puts it in the
S&P Dividend Aristocrats index, made up of companies that
have hiked annual payouts the past 25 years.
The current annualized yield is 3.1%, well ahead of the
S&P 500's 1.9%. Its three-year earnings stability factor is 1
on a scale of 0 (most stable) to 99 (most volatile).
The stock sits just above an 82.34 buy point of a
cup-with-handle base it cleared Monday in above-average volume.
It's been moving mostly sideways the past year.