P&G Dividend Provides 3.1% Yield

Procter & Gamble Company PG said that its Board of Directors declared a quarterly dividend of $0.6695 per share on its common stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company. This translates into $2.65 a share on an annualized basis. The dividend provided 3.10 percent yield, which is the same for the average five-year period.

The Procter & Gamble has been paying a dividend for 126 straight years since its inception in 1890. Significant, the company boosted its dividend rate for 60 consecutive years. The company fixed July 22 as the record date for determining the eligible shareholders and the dividend would be payable on or after August 15.

The FMCG firm's dividend payout ratio was about 84 percent, which was higher than the average five-year period's 70 percent. In the last five years, the average growth was 6.19 percent while the three-year average dividend growth was 5.15 percent.

On Monday, PG closed at $85.75.