Wednesday, April 13, 2011

Procter & Gamble (PG) Boosts Dividend 9 Percent

Shares of Procter & Gamble (NYSE:PG) closed up Tuesday after the company announced an increase in its quarterly dividend to 52.5 cents a share, a 9 percent boost.

This is the 55th straight year the consumer-products company has raised its dividend, pointing to its long-term durability through various economic conditions.

The previous dividend was 48.2 cents a share. The new dividend will be payable on May 16, to common shareholders of record at the close of business on April 29.

Dividends on two of the classes of preferred shares were also increased by the company.

Procter & Gamble closed Tuesday at $62.89, up $0.70, or 1.13 percent.

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