Gamble declares stock dividend

Procter & Gamble has announced its board of directors has declared a quarterly stock dividend of 40 cents (22 pence) per share on its common stock.

The company states the same dividend was also declared on its series A and series B ESOP convertible class A preferred stock, payable on or following November 14th to shareholders of record at the end of business on October 24th.

Procter & Gamble states it has been paying dividends without interruptions since the company was incorporated in 1890.

The announcement comes as the company’s chairman of the board and chief executive officer A G Lafley told its shareholders the firm will continue to focus on its core fundamentals to push forward long-term growth.

He said this is the reason the company has grown consistently for a sustained period of time.

“We build brands that improve consumers’ lives. We deliver superior value day in and day out. We manage cash and costs with unrelenting discipline. And we invest in innovation as the primary driver of profitable organic sales growth,” Mr Lafley concluded.

Net sales for the fiscal year ended June 30th increased nine per cent to $83.5 billion.