Procter & Gamble Increases Dividend For 53rd Consecutive Year

Procter & Gamble (PG: 64.04 +0.63%) announced yesterday that their Board of Directors has approved a 10% increase in their quarterly dividend payment to $.44 per share.

 

Increasing the dividend payment will put the current dividend yield at 3.7%.

 

2009 marks the 53^rd consecutive year that P&G has increased their dividend payment. Procter & Gamble has now been paying dividends for the last 119 years (going back to 1890).

 

The markets reacted positively to the news of the dividend increase, sending P&G shares up 2.4% to $48.39 in early morning trading. Since the beginning of the year, the stock has fallen 23%.

 

The dividend will be payable on May 15, 2009 to shareholders of record as of April 24, 2009.

 

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