The Procter & Gamble Company (NYSE: PG) announced that its Board of Directors declared an increase in the quarterly dividend from thirty-one cents ($0.31) to thirty-five cents ($0.35) per share on its Common Stock and on the Series A and Series B ESOPÂ convertible Class A Preferred Stock of the company, payable on or after May 15, 2007 to shareholders of record at the close of business on April 27, 2007.
This represents a 13% increase compared to the prior quarterly dividend.
The company has been paying dividends without interruption since incorporation in 1890. This is the 51st consecutive fiscal year that P&G has increased dividends.Â This is the kind of track record that we look for when selecting high quality dividend growth stocks.Â It also makes Proctor and Gamble one of the premiere members of the Mergent Dividend Achievers.
Three billion times a day, P&G brands touch the lives of people around the world. The company has one of the strongest portfolios of trusted, quality, leadership brands, including Pampers(R), Tide(R), Ariel(R), Always(R), Whisper(R), Pantene(R), Mach3(R), Bounty(R), Dawn(R), Pringles(R), Folgers(R), Charmin(R), Downy(R), Lenor(R), Iams(R), Crest(R), Oral-B(R), Actonel(R), Duracell(R), Olay(R), Head & Shoulders(R), Wella(R),
Gillette(R), and Braun(R). The P&G community consists of over 135,000 employees working in over 80 countries worldwide.