Procter & Gamble raises dividend for 61st consecutive year

Procter & Gamble (PG) will raise its dividend by exactly 3 percent.

Dividend Aristocrat Procter & Gamble will hike its quarterly dividend to $0.6896 per share, marking 61 consecutive years of dividend increases.

The new dividend is payable on or after May 15, 2017, to Common Stock shareholders of record at the close of business on April 21, 2017.

P&G expects total dividend payments to shareholders of more than $7 billion in fiscal year 2017, bringing total dividends paid over the last decade to more than $62 billion. The Company has been paying a dividend for 127 consecutive years since its incorporation in 1890.

Procter & Gamble is a Dividend Aristocrat

This year PG has gained 6.8% at the current stock price of $89.80. The indicated dividend yield is 3.1%. In 2016 the dividend was raised by one percent.

Analysts rate Procter & Gamble with 9 buys, 11 holds and 2 sells. The average price target is $92.22.

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company owns and operates approximately 20 manufacturing sites located in over 20 states in the United States. In addition, it owns and operates over 100 manufacturing sites in approximately 40 countries. It offers products under the brands, such as Olay, Old Spice, Safeguard, Head & Shoulders, Pantene, Rejoice, Mach3, Prestobarba, Venus, Cascade, Dawn, Febreze, Mr. Clean, Bounty and Charmin.