Procter & Gamble (NYSE: PG) raised its quarterly dividend 3% in April to $1.0885 per share, marking its 70th consecutive year of dividend increases. Only five other publicly traded companies have raised their payouts for that many years in a row.
The streak is even more remarkable when you zoom out. P&G has paid a dividend every year since its incorporation in 1890 -- 136 straight years. And the payments are enormous in absolute terms, too. The company behind Tide, Pampers, and Gillette expects to pay around $10 billion in dividends in fiscal 2026, plus roughly $5 billion in share repurchases on top of it.
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A streak like this is only possible because of what P&G sells. Detergent, diapers, razors, and paper towels get bought in good economies and bad ones, and the company's latest results show that durability at work. In its fiscal 2026 third quarter (the period ended March 31), P&G's organic sales, which exclude currency moves, acquisitions, and divestitures, grew 3% year over year, and core earnings per share rose 3% to $1.59. Management also maintained its full-year outlook even while absorbing tariff-related costs.
With shares trading near $148, P&G stock yields about 2.9% as of this writing. The payout consumes about 63% of the company's earnings over the past 12 months, a level that leaves room for the increases to continue. And the valuation looks arguably reasonable, too. Shares trade at about 21 times earnings -- not a bargain, but hardly a demanding price for a business this durable.
The streak is even more remarkable when you zoom out. P&G has paid a dividend every year since its incorporation in 1890 -- 136 straight years. And the payments are enormous in absolute terms, too. The company behind Tide, Pampers, and Gillette expects to pay around $10 billion in dividends in fiscal 2026, plus roughly $5 billion in share repurchases on top of it.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
A streak like this is only possible because of what P&G sells. Detergent, diapers, razors, and paper towels get bought in good economies and bad ones, and the company's latest results show that durability at work. In its fiscal 2026 third quarter (the period ended March 31), P&G's organic sales, which exclude currency moves, acquisitions, and divestitures, grew 3% year over year, and core earnings per share rose 3% to $1.59. Management also maintained its full-year outlook even while absorbing tariff-related costs.
With shares trading near $148, P&G stock yields about 2.9% as of this writing. The payout consumes about 63% of the company's earnings over the past 12 months, a level that leaves room for the increases to continue. And the valuation looks arguably reasonable, too. Shares trade at about 21 times earnings -- not a bargain, but hardly a demanding price for a business this durable.
4 months ago
