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UPDATE 1-P&G raises annual dividend 11 percent

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machiavelli01 Member Level  Wednesday, 07/09/03 12:39:54 AM
Re: sarals post# 283
Post # of 679 
UPDATE 1-P&G raises annual dividend 11 percent
Tue July 8, 2003 02:34 PM ET
(Adds quarterly dividend information.)
CHICAGO, July 8 (Reuters) - Consumer products maker Procter & Gamble Co. PG.N on Tuesday said it raised its annual dividend rate about 11 percent, marking the 48th consecutive year it raised its payout.

The annual rate for common stock and Series A ESOP Convertible Preferred Stock was raised to $1.82 a share from $1.64.

The maker of Tide laundry detergent, Crest toothpaste and nearly 300 other household products also declared a quarterly dividend of 45.5 cents a share, payable August 15 to shareholders of record July 18.

In the first nine months of fiscal 2003, through March 31, P&G profit rose 23 percent, while profit was up 13 percent when restructuring costs in both years are excluded.

P&G shares were down 51 cents at $90.28 on Tuesday on the New York Stock Exchange.



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