P&G dividend

P&G's latest declared quarterly rate annualizes to $4.354. FY2026 free cash flow of $15.147 billion covered $10.232 billion of dividends paid.

How much does P&G pay in dividends?

The latest declared quarterly rate annualizes to $4.354. P&G has raised its dividend for 70 consecutive years, and FY2026 free cash flow was $15.147 billion against $10.232 billion of dividends paid. That supports gradual base increases, a pause rather than a cut in the bear case, and larger raises only if cash recovery accelerates.

Does P&G's cash cover its dividend?

Capital expenditure is money spent on factories, equipment and production capacity. Free cash flow is the operating cash left after that spending. Across the five years shown, P&G reinvested $17,722 million in capital expenditure. It generated $73,068 million of free cash flow and paid shareholders $81,075 million through dividends, buybacks and payments to minority owners. FY2024 was the only year in which those distributions left a surplus.

P&G can pay out more than one year’s free cash flow because it can also use asset-sale proceeds, existing cash, employee share-plan receipts or borrowing. That is not automatically unhealthy, but it leaves less room for acquisitions without another funding source. For the next fiscal year, P&G planned about $10 billion of dividends and $5 billion of repurchases.

What could change P&G's dividend?

The base dividend reaches $4.42 per share in October 2027. It rises to $4.55 in October 2028 and $4.69 in October 2029. The bear holds it at $4.35 throughout. The bull reaches $4.46, then $4.69 and $4.92.

What is P&G's dividend yield today?

At $151.23, P&G trades at 22.8x trailing earnings. P&G’s own free-cash-flow yield is 4.2%, and its dividend yield is 2.9%. Operating margin is the key turn: it fell to 22.7% in FY2026 from 24.3% in FY2025.