Dividend Increase - The Procter & Gamble Company (PG)

 

Tuesday, April 9th the Board of Directors of The Procter & Gamble Company (PG) announced a quarterly dividend increase of from $0.9407 to $1.0065 per share that’s payable May 15, 2024 to holders of record April 19, 2024. This represents a 6.99% increase over the last quarter dividend.

This marks the 68th consecutive year that P&G has increased its dividend and the 134th consecutive year that P&G has paid a dividend since its incorporation in 1890.

With current price $155.65 (today's open), this raise brings their dividend yield to 2.59%.

Procter & Gamble is a Dividend Champions with a 68 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.5, 6.2, 5.6 and 4.7 (Dividend Champions.xls)

Since I own 25 shares of P&G, this will increase my portfolio's projected annual net dividend income by $4.90.

I was expecting an increase of about 4%, so this increase was higher than I expected and I am happy to take it.

This is the second dividend increase I've received from P&G since initiating a position in January 2023. During that period, the quarterly dividend has grown from $0.9133 to $1.0065, or 10.2 percent.

This increase raises my Yield on Cost to 2.88%.

Summary of 2024 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long PG

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