5 Dividend Stocks That Raised Their Dividends in 2022

3. The Procter & Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 71
Dividend Yield as of September 20: 2.66%

The Procter & Gamble Company (NYSE:PG) is an American multinational consumer goods company, headquartered in Ohio. The company was in 71 hedge fund public portfolios in Q2 2022, down from 72 in the previous quarter, according to Insider Monkey’s data. The stakes owned by these hedge funds are collectively valued at over $5.5 billion. Among these hedge funds, Bridgewater Associates was the company’s leading stakeholder in Q2.

In fiscal Q4 2022, The Procter & Gamble Company (NYSE:PG) posted revenue of $19.5 billion, up 3% from the same period last year. The company’s organic sales also presented a 7% year-over-year growth. In FY22, it returned nearly $19 billion to shareholders and $8.8 billion of this amount represented dividend payments. At the end of the year, the company had over $10.8 billion available in cash and cash equivalents.

In April, The Procter & Gamble Company (NYSE:PG) declared a 5% hike in its quarterly dividend to $0.9133 per share. Through this increase, the company extended its dividend growth streak to 66 years, which is one of the highest growth track records in the market. As of September 20, the stock’s dividend yield came in at 2.66%.

In August, Barclays maintained its Overweight rating on The Procter & Gamble Company (NYSE:PG), following the company’s fiscal Q4 results. The firm also appreciated the company’s business model in this current market cycle.