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Procter & Gamble stock rises as company raises dividend

Detail view of rolls of Charmin toilet paper in a domestic home, San Ramon, California, March 25, 2020.

Smith Collection | Gado | Getty Images

Shares of Procter & Gamble rose 2% in extended trading Tuesday after the company raised its dividend and moved up its earnings report.

The consumer products giant is raising its quarterly dividend 6% to 79 cents as many companies slash or suspend theirs to preserve liquidity as the coronavirus pandemic upends their businesses. 

P&G also said it would announce its fiscal third-quarter earnings on Friday. The company previously said it would share its quarterly results on the following Tuesday. The early release “should not be construed as an indication of either positive or negative results,” the Charmin toilet paper owner said in a statement.

P&G’s stock is up 15% so far in 2020, after closing up 4% on Tuesday. The company has a market value of $299 billion, as of Tuesday’s close.

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