P&G profits down 18-percent

Procter & Gamble Co. has reported an 18-percent decline in Q4 profits due to a decline in all of its businesses and currency volatility.

The company reported $2.47 billion ($0.80 per share) in Q4 profits, down from $3.02 billion ($0.92 per share) from the same period last year. Sales were aggregately down 11-percent to $18.7 billion.

The company is forecasting earnings of $3.65-$3.80 per share for the remainder of 2009.

 Most recently on August 5, P&G declared a 10-percent dividend increase for investors, up to $0.44 per share. The company for 53 consecutive fiscal years has continued to increase its dividends, and has without interruption paid dividends since 1890.

The P&G stock opened 2-percent down today.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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