Procter & Gamble hikes dividend by 5%

Procter & Gamble Co. PG, -0.30% said late Tuesday its board approved a 5% dividend hike for its 66th straight year of dividend increases. The consumer products maker said it will pay a quarterly dividend of 91.33 cents a share, up from a previous 87 cents a share, on May 16 to shareholders of record as of April 22. Procter & Gamble shares were unchanged after hours, following a 0.3% decline in the regular session to close at $159.01.