Procter & Gamble Co. said Friday that it lifted its
quarterly dividend 3%, a move to return more to shareholders
despite headwinds from a stronger dollar.
P&G has raised its dividend annually since 1956.
The consumer products giant will pay a quarterly dividend of 66
cents a share, up from 64 cents, on or after May 15 to shareholders
of record April 27. P&G said it expects to pay approximately
$7.4 billion in dividends this business year.
In January, the company cut its outlook for the year, saying
foreign-exchange issues would reduce sales by 5% and earnings by
12%. The company, like many others with significant overseas
operations, has said it would offset much of the currency impact
through cost savings.
Shares, down 9.4% year-to-date, rose 13 cents to $82.66 in
after-hours trading.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires