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Procter & Gamble (PG) Rewards Investors With 3% Dividend Hike
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The Procter & Gamble Company (PG - Free Report) appears to be a good choice for investors looking for reliable and consistent income, thanks to its solid dividend history.
This Cincinnati, OH-based company has once again rewarded investors, this time with a 3% hike in its quarterly dividend. The recent hike takes the dividend to 94.07 cents a share, which will be paid out on May 15, 2023, to shareholders of record as of Apr 21, 2023. This hike in dividend is also applicable for Series A and Series B ESOP Convertible Class A Preferred Stock stockholders of record as of the start of business on Apr 21, 2023. Last April, P&G had hiked its regular quarterly dividend by 5% to 91.33 cents.
Since the company's incorporation in 1890, it has paid dividends for 133 straight years and this increase in the quarterly dividend marks the 67th consecutive year of dividend hike. Evidently, PG's strong ability to generate cash flow has allowed it to steadily increase dividends over time.
Backed by sound fundamentals and financial strength, PG remains committed to enhancing its shareholder value. The current hike reflects a strong cash flow generation capability, driven by better execution of operating plans. We note that net cash provided by operating activities totaled $7,644 million in the first half of fiscal 2023.
We believe that such strategic steps not only drive shareholder value but also raise the market value of the stock. In fact, through these dividend increases, companies persuade investors to either buy or hold the script. People looking for regular income from stocks are most likely to choose companies with a track record of consistent and incremental dividend payouts.
Image Source: Zacks Investment Research
What Else You Should Know
Procter & Gamble’s strong brand and growth strategies have been contributing to its upbeat performance for a while. The company’s products play a key role in meeting the daily health, hygiene and cleaning needs of consumers around the world, thereby generating a strong momentum for the company. Also, PG remains focused on productivity and cost-saving plans to boost margins.
Procter & Gamble continued its robust top- and bottom-line surprise trend for the second consecutive time in second-quarter fiscal 2023. The company posted better-than-expected results as both the top and bottom lines beat the Zacks Consensus Estimate. In the said period, the company’s organic sales improved due to robust pricing and a favorable mix along with strength across segments. Improved productivity amid cost headwinds also aided.
Impressively, PG has outpaced both the Soap and Cleaning Materials industry and the Consumer Staples sector in the past six months. Shares of this Zacks Rank #3 (Hold) player have appreciated 19.3% in the past six months compared with the industry’s and sector’s growth of 18.5% and 10.3%, respectively.
Inter Parfums, the renowned fragnance manufacturer, currently sports a Zacks Rank #1 (Strong Buy). The company has an expected EPS growth rate of 15% for three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Inter Parfums’ current financial year sales and earnings suggests growth of 10.5% and 0.8%, respectively, from the year-ago reported numbers. IPAR has a trailing four-quarter earnings surprise of 36.2%, on average.
General Mills is a major distributor of premium lifestyle products. It currently carries a Zacks Rank of 2 (Buy). GIS has an expected EPS growth rate of 7.5% for three to five years.
The Zacks Consensus Estimate for General Mills’ current financial year sales and earnings suggests growth of 6.3% and 7.4%, respectively, from the year-ago reported numbers. GIS has a trailing four-quarter earnings surprise of 8.1%, on average.
KimberlyClark, manufacturer of a wide range of consumer products, carries a Zacks Rank of 2 at present. KMB has an expected EPS growth rate of 9.9% for three to five years.
The Zacks Consensus Estimate for KimberlyClark’s current financial year sales and earnings suggests growth of 1.7% and 5.2%, respectively, from the year-ago reported numbers. KMB has a trailing four-quarter earnings surprise of 1.4%, on average.
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Procter & Gamble (PG) Rewards Investors With 3% Dividend Hike
The Procter & Gamble Company (PG - Free Report) appears to be a good choice for investors looking for reliable and consistent income, thanks to its solid dividend history.
This Cincinnati, OH-based company has once again rewarded investors, this time with a 3% hike in its quarterly dividend. The recent hike takes the dividend to 94.07 cents a share, which will be paid out on May 15, 2023, to shareholders of record as of Apr 21, 2023. This hike in dividend is also applicable for Series A and Series B ESOP Convertible Class A Preferred Stock stockholders of record as of the start of business on Apr 21, 2023. Last April, P&G had hiked its regular quarterly dividend by 5% to 91.33 cents.
Since the company's incorporation in 1890, it has paid dividends for 133 straight years and this increase in the quarterly dividend marks the 67th consecutive year of dividend hike. Evidently, PG's strong ability to generate cash flow has allowed it to steadily increase dividends over time.
Backed by sound fundamentals and financial strength, PG remains committed to enhancing its shareholder value. The current hike reflects a strong cash flow generation capability, driven by better execution of operating plans. We note that net cash provided by operating activities totaled $7,644 million in the first half of fiscal 2023.
We believe that such strategic steps not only drive shareholder value but also raise the market value of the stock. In fact, through these dividend increases, companies persuade investors to either buy or hold the script. People looking for regular income from stocks are most likely to choose companies with a track record of consistent and incremental dividend payouts.
Image Source: Zacks Investment Research
What Else You Should Know
Procter & Gamble’s strong brand and growth strategies have been contributing to its upbeat performance for a while. The company’s products play a key role in meeting the daily health, hygiene and cleaning needs of consumers around the world, thereby generating a strong momentum for the company. Also, PG remains focused on productivity and cost-saving plans to boost margins.
Procter & Gamble continued its robust top- and bottom-line surprise trend for the second consecutive time in second-quarter fiscal 2023. The company posted better-than-expected results as both the top and bottom lines beat the Zacks Consensus Estimate. In the said period, the company’s organic sales improved due to robust pricing and a favorable mix along with strength across segments. Improved productivity amid cost headwinds also aided.
Impressively, PG has outpaced both the Soap and Cleaning Materials industry and the Consumer Staples sector in the past six months. Shares of this Zacks Rank #3 (Hold) player have appreciated 19.3% in the past six months compared with the industry’s and sector’s growth of 18.5% and 10.3%, respectively.
3 Solid Stocks
Here we highlight three top-ranked stocks, namely, Inter Parfums (IPAR - Free Report) , General Mills (GIS - Free Report) and KimberlyClark (KMB - Free Report) .
Inter Parfums, the renowned fragnance manufacturer, currently sports a Zacks Rank #1 (Strong Buy). The company has an expected EPS growth rate of 15% for three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Inter Parfums’ current financial year sales and earnings suggests growth of 10.5% and 0.8%, respectively, from the year-ago reported numbers. IPAR has a trailing four-quarter earnings surprise of 36.2%, on average.
General Mills is a major distributor of premium lifestyle products. It currently carries a Zacks Rank of 2 (Buy). GIS has an expected EPS growth rate of 7.5% for three to five years.
The Zacks Consensus Estimate for General Mills’ current financial year sales and earnings suggests growth of 6.3% and 7.4%, respectively, from the year-ago reported numbers. GIS has a trailing four-quarter earnings surprise of 8.1%, on average.
KimberlyClark, manufacturer of a wide range of consumer products, carries a Zacks Rank of 2 at present. KMB has an expected EPS growth rate of 9.9% for three to five years.
The Zacks Consensus Estimate for KimberlyClark’s current financial year sales and earnings suggests growth of 1.7% and 5.2%, respectively, from the year-ago reported numbers. KMB has a trailing four-quarter earnings surprise of 1.4%, on average.