Shutterstock photo
Markets

Shares in Procter&Gamble remain flat in spite of 3% dividend

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com -- Shares in Procter & Gamble Company (NYSE:PG) were relatively flat in after-hours trading in spite of the company's declaration of a 3% dividend increase on late Friday afternoon.

The Cincinnati-based multinational conglomerate announced that its Board of Directors on Friday declared a quarterly dividend increase from $0.6436 to $0.6629 per share on its Common Stock effective on May 15. The company also announced a dividend increase in its Series A and Series B ESOP Convertible Class A Preferred Stock of the Company effective on April 27.

"With this dividend increase, P&G is demonstrating its commitment to - and extending its long-term track record of - returning cash to shareholders," Procter & Gamble said in a press release. "P&G has been paying a dividend for 125 consecutive years since its incorporation in 1890. This marks the 59th consecutive year that the Company has increased its dividend."

The company expects to shell out roughly $7.4 billion in dividends to its shareholders in 2015. Over the past 10 years, Procter and Gamble said it has paid more than $55 billion to its shareholders in dividends.

With longstanding brands such as Crest and Oral-B toothpaste, Bounty laundry detergent, Charmin toilet paper and Gillette shaving products, P&G has operations in approximately 70 countries worldwide, according to its website. Earlier this month, Crest and Oral-B partnered with Disney to launch a new line of toothpaste and toothbrushes featuring characters from the hit movie Frozen.

Shares in Procter & Gamble fell 0.02 to 82.53 after closing at 82.55, down 0.97 on Friday's session. Previously, shares in PG had been down roughly 10% on the year.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com apps for Android and iOS!

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


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

Other Topics

ForEx