The Procter & Gamble Co. said late Friday its board of directors declared a dividend of 66.95 cents a share payable on May 16 to shareholders of record April 18, a 1% increase compared with the prior quarterly dividend. The maker of consumer products such as laundry detergent Tide and Crest toothpaste said the increase reflects savings from streamlining its portfolio. The annualized dividend yield on P&G’s common stock hovers around 3.2%, the company said. Shares of P&G were flat in after-hours trading after ending the regular trading session down 0.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.