By Ben Glickman
Procter & Gamble on Tuesday raised its quarterly dividend 7%, which the company said signaled its commitment to giving shareholders steady returns.
The Cincinnati-based consumer-products company declared a payout of $1.0065 a share, up from its prior dividend of 94.07 cents.
The new dividend, equal to $4.026 a year, represents an annual yield of 2.6% based on the Tuesday closing price of $156.66.
The company last raised its dividend in April 2023, when it increased its payout 3.3%.
P&G has said it expects to pay more than $9 billion in dividends in fiscal 2024.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
04-09-24 1641ET