CINCINNATI — (COMPANY WIRE) — The Procter & Gamble Company [NYSE:PG] today announced that its Board of Directors declared a cut in the quarterly dividend from $0.6436 to $0.401 per share on its Common Stock, citing a lower outlook due to overseas currency rates, weak consumer demand and unexpected seasonal variability in the month of April. The dividend will be payable on or after May 15, 2015 to Common Stock shareholders of record at the start of business on April 1, 2015. This represents a 38% decrease compared to the prior quarterly dividend.
See the full announcement on AP Company Wire for more details.
Update 02-April-15: This post was an April Fool’s joke. Procter & Gamble did not cut their dividend. Always double-check any financial information you read.