PG Research
The Procter & Gamble Company
Next ex-dividend date: 2026-07-24 (45 days away)
2.94%
Forward yield
$4.260 / yr per share
Yield percentile (5y)
P 98
2.3% (P10)2.6% (med)2.9% (P90)
Quality score
94/100
Strong · Moderate payout risk
Annual / share
$4.260
Quarterly · next ex-date 07-24 (45d)
vs 5y P90 reference
-5%
$145.10 vs $151.62 (5y P90 price)
Refreshed 2026-06-09Data coverage High — 65y history
01Fundamentals
PG is a foundational income stock, distinguished by 65 consecutive years of dividend payments.
Bull caseThe company's 65 consecutive years of dividend payments (continuity 20.0/20) and strong payout safety (20.0/20) are robustly backed by $14.04B in free cash flow, covering $9.92B in annual dividend obligations.
Bear caseThe 2.88% dividend yield is below current risk-free rates, and the 5-year dividend growth rate of 8.58% offers modest appreciation for growth-focused investors.
02Risk & quality
| GAAP payout ratio | Moderate · 61.8% |
| Overall quality score | 94 / 100 · Strong |
Score breakdown — five dimensions, each /2020 + 20 + 19 + 6 + 16 = 94
20.0/20
Consistency
20.0/20
Payout safety
19.4/20
Moat
↓
5.7/20
Growth rate
15.5/20
Balance sheet
- Consistency 20.0/20 — PG has paid an uninterrupted dividend for 65 straight years, putting it in the Dividend King tier — the small US-listed club of 50+ year streaks. This dimension caps at 10 years, so anything past that sits well above the ceiling.
- Payout safety 20.0/20 — PG pays out 61.8% of GAAP earnings as dividends — still inside the safe band, with some headroom before reaching 80%, the level commonly flagged as strained. Manageable as long as earnings hold up.
- Moat 19.4/20 — Scores how protected PG's earnings stream is from competition. Operating in Consumer Defensive, PG benefits from the kind of brand pricing power, regulatory position, or scale that lets margins hold up through economic cycles. Cyclical or commodity-driven sectors typically score in the single digits here.
- Growth rate 5.7/20 — PG's dividend grew about 8.6% per year over 5 years — solid by absolute standards, but a notch below the 15-20% pace seen at growth-oriented dividend payers (think SCHD constituents). Familiar pattern for established staples already paying out most of what they earn — the runway for further hikes naturally narrows once payout ratios climb.
- Balance sheet 15.5/20 — A composite of return-on-equity and inverse leverage. PG runs 31.1% ROE and 68% debt-to-equity — the combination of strong profitability and a manageable debt load gives it room to keep raising the dividend or fund buybacks without strain. Doesn't directly affect dividend safety today, but signals financial flexibility.
03Price reference
$10,000at current price →$294/ yr in dividends
Math: 2.94% forward yield. Historical 5y DGR is 8.6%/yr — past growth does not guarantee future results.
Below are statistical price references from the last 5 years of trading, anchored to historical drawdown events. They describe where the price has been — not where it should be.
$143.43
$151.62
$145.10
5y P10
5y P90
Now
| Current price | $145.10 |
| 5y P90 reference (high-yield 10% tail) | $151.62 — -4.5% lower |
| 5y P10 reference (low-yield 10% tail) | $143.43 — 1.2% lower |
| 5y max observed yield (at P10 price) | 3.0% |
| Annual dividend (frozen forward) | $4.260 / share · 2.94% yield |
Historical anchor · 2008-10 Global Financial Crisis
Low $26.71 · drawdown 26 days · yield reached 5.5%
Lehman collapse triggered global credit freeze; S&P fell ~50% peak-to-trough.
Important — this is reference data, not investment advice.
Quality scores, percentiles, and price references are statistical summaries of historical data computed by our research methodology from public market data, refreshed daily. They do not constitute a buy / sell / hold recommendation, do not account for your personal financial situation, tax bracket, or goals, and past performance does not predict future results. Consult a registered investment advisor before making investment decisions. divcalc.io is not a registered investment advisor.
Quality scores, percentiles, and price references are statistical summaries of historical data computed by our research methodology from public market data, refreshed daily. They do not constitute a buy / sell / hold recommendation, do not account for your personal financial situation, tax bracket, or goals, and past performance does not predict future results. Consult a registered investment advisor before making investment decisions. divcalc.io is not a registered investment advisor.