Dividend streak hits 64 years

Article Excerpt

PROCTER & GAMBLE CO. $128 is a buy. The company (New York symbol PG; Income-Growth Portfolio, Consumer sector; Shares outstanding: 2.5 billion; Market cap: $320.0 billion; Dividend yield: 2.5%; Dividend Sustainability Rating: Highest; www.pg.com) raised its quarterly dividend by 6.0% in May 2020. The new annual rate of $3.16 yields 2.5%. Procter has paid dividends for 130 years and has increased its payout annually for the past 64. The stock has jumped 36% since falling to $94.34 on March 23, 2020. That’s due to strong demand for Procter’s health and hygiene products as the result of COVID-19. For example, it recently launched Microban 24, a spray-on product that kills bacteria on hard, non-porous surfaces like kitchen countertops and bathroom sinks. Procter & Gamble is still a buy. buy…