Procter & Gamble Co raised its quarterly dividend by 6per cent 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.
The logo for Procter & Gamble Co. is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., June 27, 2018. REUTERS/Brendan McDermidREUTERS: Procter & Gamble Co raised its quarterly dividend by 6per cent 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 7.907 cents per share on its common stock, up from 7.459 cents in the prior quarter. Through Tuesday's close, P&G's shares have fallen just over 3per cent this year, compared with a 16per cent drop in the Dow Jones Industrial Average index in the same period.
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