Procter & Gamble and 2 More Companies That Raised Their Stock Dividends

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Procter & Gamble
,

Qualcomm
,
and

Targa Resources

declared dividend increases this week while several other large U.S. companies said they will maintain their payouts at current levels.

Procter & Gamble (ticker: PG) said it will raise its quarterly disbursement to 94.07 cents a share, up 3% from 91.33 cents.

The consumer product company’s stock, which yields 2.4%, has a one-year return of about minus 2% through Thursday’s close, including dividends, compared with minus 5% for the

S&P 500
.

The dividend is payable on or after May 15 to common stock shareholders of record at the close of business on April 21.

This marks the 67^th straight year in which the company has raised its dividend.

Wireless chip maker Qualcomm (QCOM) plans to boost its quarterly dividend to 80 cents a share from 75 cents. That’s an increase of nearly 7%.

The stock, whose one-year return is about minus 12%, yields 2.7%. The next dividend is payable on June 22 to stockholders of record at the close of business on June 1.

Targa Resources (TRGP), a natural gas liquids service provider, plans to boost its quarterly dividend to 50 cents a share from 35 cents. That’s an increase of 43%. That will raise the annualized dividend to $2 a share.

The stock, which yields 1.8%, is about flat over the past year. The company said it plans to pay the quarterly dividend on May 15 to shareholders of record at the close of business on April 28.

Elsewhere, companies that said they plan to keep their payouts at current levels include

Caterpillar

(CAT) at $1.20 a share,

Cintas

(CTAS) at $1.15 a share, and

Fastenal

(FAST) at 35 cents a share.

Write to Lawrence C. Strauss at [email protected]