Procter still shines for its investors

Article Excerpt

PROCTER & GAMBLE CO., $123, is a buy. The company (New York symbol PG; Income-Growth Portfolio, Consumer sector; Shares outstanding: 2.5 billion; Market cap: $307.5 billion; Dividend yield: 2.4%; Dividend Sustainability Rating: Highest; www.pg.com) is one of the world’s largest makers of household and personal-care goods. Starting with the May 2019 payment, the company rewarded investors with a 4% rise in its quarterly dividend to $0.7459 a share. Procter’s new annual rate of $2.98 yields 2.4%. The company has paid investors dividends for 129 years and increased its payout annually for the past 63. In its fiscal 2020 first quarter, ended September 30, 2019. Procter’s earnings jumped 24.3%, to $3.62 billion from $2.92 billion a year earlier. Per-share earnings rose 22.3%, to $1.37 from $1.12, on more shares outstanding Sales were up 6.6%, to $17.80 billion from $16.69 billion. Excluding businesses that Procter bought and sold, as well as foreign exchange rates, sales rose 7%. About half of that gain was due to higher volumes. volumes…