P&G boosts dividend, says earnings to be released ahead of schedule

(Reuters) – Procter & Gamble Co raised its quarterly dividend by 6% on Tuesday and advanced the release of its third-quarter earnings to April 17, saying that it aims to provide shareholders information as quickly and transparently as possible.

P&G, which was previously scheduled to release its results on April 21, also said its decision to release earnings ahead of schedule should not be seen as an indication of positive or negative results. [nBwc4zCXDa]

P&G and other consumer staples companies have seen the coronavirus outbreak create a surge in demand for toilet papers and other household products, with lockdowns imposed to curb the disease’s spread making many customers hoard essential items. [nL1N2BP1FR]

It declared a quarterly dividend of 7.907 cents per share on its common stock, up from 7.459 cents in the prior quarter.

Through Tuesday’s close, P&G’s shares have fallen just over 3% this year, compared with a 16% drop in the Dow Jones Industrial Average index <.DJI> in the same period.

(Reporting by Shariq Khan in Bengaluru; Editing by Anil D’Silva)