Topic: How To Invest

Dividend Advisor Hotline – Friday, April 21, 2023

Article Excerpt

PROCTER & GAMBLE CO., $156.07, New York symbol PG, is a top pick for 2023. The company is one of the world’s largest makers of household and personal-care goods. Its major brands include Tide (laundry detergent), Pampers (diapers), Gillette (razors), Crest (toothpaste) and Vicks (cold remedies). Procter will now raise your quarterly dividend by 3.0%. Starting with the May 2023 payment, investors will receive $0.9407 a share instead of $0.9133. The new annual rate of $3.76 yields 2.4%. Meantime, in its fiscal 2023 third quarter, ended March 31, 2023, Procter’s sales rose 3.7%, to $20.07 billion from $19.38 billion a year earlier. That also beat the consensus forecast of $19.32 billion. The higher sales are mainly because the company increased its prices by 10% to cover rising input costs. That offset a 3% decline in the volume of goods sold. However, that volume drop is an improvement over the 6% drop for the quarter ended December 31, 2022. If you factor out the impact of businesses…