By Ben Glickman

Procter & Gamble on Tuesday raised its quarterly dividend 7%, which the company said signaled its commitment to giving shareholders steady returns.

The Cincinnati-based consumer-products company declared a payout of $1.0065 a share, up from its prior dividend of 94.07 cents.

The new dividend, equal to $4.026 a year, represents an annual yield of 2.6% based on the Tuesday closing price of $156.66.

The company last raised its dividend in April 2023, when it increased its payout 3.3%.

P&G has said it expects to pay more than $9 billion in dividends in fiscal 2024.

Write to Ben Glickman at

(END) Dow Jones Newswires

04-09-24 1641ET