Cincinnati, OH, United States (4E) – Procter & Gamble said on Monday that it increased its quarterly dividend payment by 7 percent to 64 cents a share.
Monday’s announcement represents the 58th consecutive year of increasing dividend payouts for P&G. The decision is welcome news not only for shareholders but also for retirees and company workers who depend on the regular payments as part of their income.
The higher payout matched analysts’ forecast made in January. The news will likely boost P&G’s stock price as strong earnings typically boost shares.
Common shareholders will receive the initial payout on or after May 15 of record at the close of business on April 25. P&G offered a 60 cent a share dividend payout in the previous quarter.
Since its incorporation in 1890, P&G has been paying a dividend to shareholders for 124 straight years.