A dividend king constitutes a stock that has increased its dividend payout for 50 consecutive years or more. Stocks with a long history of dividend-growth tend to offer quality and reliability. Today, I want to look at one dividend king in the lucrative health-care sector.
Procter & Gamble (NYSE:PG) is an American multinational consumer goods corporation. Its shares had dropped 5.7% in 2020 as of late afternoon trading on June 12. However, the stock is up 9% year over year.
The company released its second-quarter 2020 results on April 17. Its U.S. sales enjoyed a massive spike as consumer stashed essential items in response to the COVID-19 pandemic. However, Procter & Gamble still slashed its sales forecast for fiscal 2020 due to unfavourable foreign currency conditions.
Earnings per share increased to $1.17, which beat analyst expectations. However, revenue fell short of projections and came in at $17.21 billion. Organic revenue rose 6% year over year.
Procter & Gamble last increased its quarterly dividend to $0.7907 per share. This represents a 2.7% yield. The company has delivered dividend-growth for 64 consecutive years.
This is a dividend stock that investors can trust for the long-term. It has demonstrated its resilience during this pandemic.
Shares of Procter & Gamble are still trading at the high end of its 52-week range. Still, this is a stock investors should feel good about holding for years to come.
