Procter: 67 years of rising dividends

Article Excerpt

Procter & Gamble’s sales remain strong despite concerns that high inflation and interest rates would prompt consumers to switch to cheaper brands. The strong consumer loyalty reflects the trust customers place in the company’s brands, many of which are over a 100 years old. Procter & Gamble’s brand power also helps to explain our confidence in the company’s ability to maintain annual dividend hikes, for 2024 and beyond. PROCTER & GAMBLE CO. $153 is a top pick for 2023. The stock (New York symbol PG; Income-Growth Portfolio, Consumer sector; Shares outstanding: 2.4 billion; Market cap: $367.2 billion; Dividend yield: 2.5%; Dividend Sustainability Rating: Highest; www.pg.com) gives you a stake in one of the world’s largest makers of household and personal-care goods. Procter last raised its quarterly dividend by 2.9% with the May 2023 payment. Investors now receive $0.9407 a share instead of $0.9133. The new annual rate of $3.76 yields 2.5%. Procter has paid shareholder dividends for 133 years and has increased its payout annually for the…