P&G boosts dividend, says earnings to be released ahead of schedule

The logo for Procter & Gamble Co. is displayed on a screen on the floor of the NYSE in New York
The logo for Procter & Gamble Co. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid

April 15, 2020

(This April 14 story corrects paragraph 4 to say company raised its dividend to 79.07 cents from 74.59 cents, not to 7.907 cents from 7.459 cents.)

(Reuters) – Procter & Gamble Co <PG.N> raised its quarterly dividend by 6% on Tuesday and advanced the release of its third-quarter earnings to April 17, saying that it aims to provide shareholders information as quickly and transparently as possible.

P&G, which was previously scheduled to release its results on April 21, also said its decision to release earnings ahead of schedule should not be seen as an indication of positive or negative results.

P&G and other consumer staples companies have seen the coronavirus outbreak create a surge in demand for toilet papers and other household products, with lockdowns imposed to curb the disease’s spread making many customers hoard essential items.

It declared a quarterly dividend of 79.07 cents per share on its common stock, up from 74.59 cents in the prior quarter.

Through Tuesday’s close, P&G’s shares have fallen just over 3% this year, compared with a 16% drop in the Dow Jones Industrial Average index <.DJI> in the same period.

(Reporting by Shariq Khan in Bengaluru; Editing by Anil D’Silva)

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