Procter & Gamble announced Tuesday it will boost its quarterly dividend payment 10% to nearly 87 cents per share.
The new shareholder payout will be made on or after May 17, to stockholders of record at the close of business on April 23. The quarterly payout is increasing 7.91 cents per share from 79.07 to 86.98 cents per share.
The 2021 increase – P&G's 65th straight annual dividend boost – is the largest in more than half a decade.
More: Who will replace Procter & Gamble's CEO David Taylor?
With the increase, an investor with 1,000 shares of P&G will receive an annual payout of nearly $3,500.
For the latest on P&G, Kroger, Fifth Third Bank and Cincinnati business, follow @alexcoolidge on Twitter.
