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Procter & Gamble (P&G ) is a Fortune 500 American multinational corporation headquarteredin downtown Cincinnati, Ohio and manufactures a wide range of consumer goods.

In 2011, P&G recorded $82.6 billion dollars in sales. Fortune magazine ranked P&G at fifthplace of the "World's Most Admired Companies" list, which was up from sixth place in2010.Procter & Gamble is the only Fortune 500 company to issue C Share common stock.

2. COMPANY PROFILE:

Type :PUBLIC (NYSE:PG)

FOUNDED: 1837

HEADQUATERS: Procter & Gamble Plaza Cincinnati, Ohio, USA,45202

INDUSTRY: CONSUMER GOODS

REVENUE: $ 82559 m

NET INCOME: $15818 m (2011)

EMPLOYEES:138,000

WEBSITE: www.pg.com

!. INTRODUCTION:

PROCTOR & GAMBLE
http://en.wikipedia.org/wiki/Fortune_500http://en.wikipedia.org/wiki/Fortune_500http://en.wikipedia.org/wiki/Multinational_corporationhttp://en.wikipedia.org/wiki/Downtown_Cincinnatihttp://en.wikipedia.org/wiki/Cincinnatihttp://en.wikipedia.org/wiki/Ohiohttp://en.wikipedia.org/wiki/Fast_moving_consumer_goodshttp://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/Fast_moving_consumer_goodshttp://en.wikipedia.org/wiki/Ohiohttp://en.wikipedia.org/wiki/Cincinnatihttp://en.wikipedia.org/wiki/Downtown_Cincinnatihttp://en.wikipedia.org/wiki/Multinational_corporationhttp://en.wikipedia.org/wiki/Fortune_500


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William procter, a candlemaker, and James Gamble, a soapmaker, emmigrated from England

and Ireland respectively. They settled in Cincinnati initially and met when they married sisters,Olivia and Elizabeth Norris. Alexander Norris, their father-in-law, called a meeting in which hepersuaded his new sons-in-law to become business partners. On October 31, 1837, as a result of the suggestion, Procter & Gamble was born.

In 1858 1859, sales reached $1 million. By this point, approximately 80 employees worked forProcter & Gamble. During the American Civil War, the company won contracts to supply theUnion Army with soap and candles. In addition to the increased profits experienced during thewar, the military contracts introduced soldiers from all over the country to Procter & Gamble'sproducts.

In the 1880s, Procter & Gamble beganto market a new product, aninexpensive soap that floats in water.The company called the soap Ivory. William Arnett Procter, WilliamProcter's grandson, began a profit-sharing program for the company'sworkforce in 1887. By giving theworkers a stake in the company, hecorrectly assumed that they would beless likely to go on strike.

The company began to build factoriesin other locations in the United Statesbecause the demand for products had outgrown the capacity of the Cincinnati facilities. Thecompany's leaders began to diversify its products as well and, in 1911, began producing Crisco, a shortening made of vegetable oils rather than animal fats. As radio became more popular inthe 1920s and 1930s, the company sponsored a number of radio programs. As a result, theseshows often became commonly known as "soap operas."

The company moved into other countries, both in terms of manufacturing and product sales,becoming an international corporation. . Numerous new products and brand names wereintroduced over time, and Procter & Gamble began branching out into new areas. Thecompany introduced "Tide " laundry detergent in 1946 and "Prell" shampoo in 1947. In 1955,Procter & Gamble began selling the first toothpaste to contain fluoride, known as "Crest" .Branching out once again in 1957, the company purchased Charmin Paper Mills and beganmanufacturing toilet paper and other paper products. Once again focusing on laundry, Procter& Gamble began making "Downy" fabric softener in 1960 and "Bounce" fabric softener sheets

3. History:
http://en.wikipedia.org/wiki/James_Gamble_%28industrialist%29http://en.wikipedia.org/wiki/American_Civil_Warhttp://en.wikipedia.org/wiki/Union_Armyhttp://en.wikipedia.org/wiki/Candlehttp://en.wikipedia.org/wiki/Ivory_%28soap%29http://en.wikipedia.org/wiki/Profit-sharinghttp://en.wikipedia.org/wiki/Profit-sharinghttp://en.wikipedia.org/wiki/Workforcehttp://en.wikipedia.org/wiki/Strike_actionhttp://en.wikipedia.org/wiki/Criscohttp://en.wikipedia.org/wiki/Shorteninghttp://en.wikipedia.org/wiki/Vegetable_oilshttp://en.wikipedia.org/wiki/Animal_fathttp://en.wikipedia.org/wiki/Tide_%28detergent%29http://en.wikipedia.org/wiki/Detergenthttp://en.wikipedia.org/wiki/Prellhttp://en.wikipedia.org/wiki/Fluoridehttp://en.wikipedia.org/wiki/Crest_toothpastehttp://en.wikipedia.org/wiki/Charminhttp://en.wikipedia.org/wiki/Downyhttp://en.wikipedia.org/wiki/Fabric_softenerhttp://en.wikipedia.org/wiki/File:Cincinnati-procter-and-gamble-headquarters.jpghttp://en.wikipedia.org/wiki/Fabric_softenerhttp://en.wikipedia.org/wiki/Downyhttp://en.wikipedia.org/wiki/Charminhttp://en.wikipedia.org/wiki/Crest_toothpastehttp://en.wikipedia.org/wiki/Fluoridehttp://en.wikipedia.org/wiki/Prellhttp://en.wikipedia.org/wiki/Detergenthttp://en.wikipedia.org/wiki/Tide_%28detergent%29http://en.wikipedia.org/wiki/Animal_fathttp://en.wikipedia.org/wiki/Vegetable_oilshttp://en.wikipedia.org/wiki/Shorteninghttp://en.wikipedia.org/wiki/Criscohttp://en.wikipedia.org/wiki/Strike_actionhttp://en.wikipedia.org/wiki/Workforcehttp://en.wikipedia.org/wiki/Profit-sharinghttp://en.wikipedia.org/wiki/Profit-sharinghttp://en.wikipedia.org/wiki/Ivory_%28soap%29http://en.wikipedia.org/wiki/Candlehttp://en.wikipedia.org/wiki/Union_Armyhttp://en.wikipedia.org/wiki/American_Civil_Warhttp://en.wikipedia.org/wiki/James_Gamble_%28industrialist%29


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in 1972. One of the most revolutionary products to come out on the market was the company's"Pampers ", first test-marketed in 1961. Prior to this point disposable diapers were not popular,although Johnson & Johnson had developed a product called "Chux." Babies always wore clothdiapers, which were leaky and labor intensive to wash. Pampers provided a convenientalternative, albeit at the environmental cost of more waste requiring landfilling.

Procter &Gambleacquired anumber of othercompaniesthatdiversifiedits product

line andsignificantly increasedprofits.Theseacquisitions includedFolgersCoffee, Norwich

EatonPharmaceuticals (themakers of Pepto-Bismol),Richardson-Vicks,Noxell(Noxzema),

Shulton'sOld Spice,

Max Factor, and the Iams Company, among others. In 1994, the company made headlines forbig losses resulting from leveraged positions in interest rate derivatives, and subsequently suedBankers Trust for fraud; this placed their management in the unusual condition.
http://en.wikipedia.org/wiki/Pampershttp://en.wikipedia.org/wiki/Disposable_diapershttp://en.wikipedia.org/wiki/Johnson_%26_Johnsonhttp://en.wikipedia.org/wiki/Folgers_Coffeehttp://en.wikipedia.org/wiki/Folgers_Coffeehttp://en.wikipedia.org/wiki/Pepto-Bismolhttp://en.wikipedia.org/wiki/Pepto-Bismolhttp://en.wikipedia.org/wiki/Noxzemahttp://en.wikipedia.org/wiki/Old_Spicehttp://en.wikipedia.org/wiki/Max_Factorhttp://en.wikipedia.org/wiki/Iamshttp://en.wikipedia.org/wiki/Interest_rate_derivativehttp://en.wikipedia.org/wiki/Bankers_Trusthttp://en.wikipedia.org/wiki/Bankers_Trusthttp://en.wikipedia.org/wiki/Interest_rate_derivativehttp://en.wikipedia.org/wiki/Iamshttp://en.wikipedia.org/wiki/Max_Factorhttp://en.wikipedia.org/wiki/Old_Spicehttp://en.wikipedia.org/wiki/Noxzemahttp://en.wikipedia.org/wiki/Pepto-Bismolhttp://en.wikipedia.org/wiki/Pepto-Bismolhttp://en.wikipedia.org/wiki/Folgers_Coffeehttp://en.wikipedia.org/wiki/Folgers_Coffeehttp://en.wikipedia.org/wiki/Johnson_%26_Johnsonhttp://en.wikipedia.org/wiki/Disposable_diapershttp://en.wikipedia.org/wiki/Pampers


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Procter & Gamble has dramatically expanded throughout its history, but its headquarters stillremains in Cincinnati.

The board of directors of Procter & Gamble currently has eleven members: Robert A.McDonald, Angela Braly, Meg Whitman, Johnathan A. Rodgers, Ernesto Zedillo, Scott Cook, Patricia A. Woertz, Susan D. Desmond-Hellmann, Maggie Wilderotter, W. James McNerney,Jr. and Kenneth Chenault. In March 2011 Rajat Gupta resigned from the board after an SECaccusation of Galleon Group insider trading.

In October 2008, P&G was named one of "Canada's Top 100 Employers" by Mediacorp CanadaInc., and was featured in Maclean's newsmagazine. Later that month, P&G was also named oneof Greater Toronto's Top Employers, which was announced by the Toronto Star newspaper.

In May 2011 Fortune editor-at-large Patricia Sellers praised P&G's board diversity, as five of the company's eleven current directors are female and have all been on Fortune's annual MostPowerful Women list.

Procter & Gamble is a member of the U.S. Global Leadership Coalition, a Washington, D.C.-based coalition of over 400 major companies and NGOs that advocates for a largerInternational Affairs Budget, which funds American diplomatic and development efforts abroad.

On November 19, 2011, the Associated Press and USA Today reported that a companyspokesman confirmed Dr. John Smale, former CEO, has died at age 84. Online memorial pagefor Dr. John Smale .

BOARD OF DIRECTORS:

Angela F. Braly

Chair of the Board, President and Chief Executive Officer of WellPoint, Inc. (healthcareinsurance). Appointed to the Board on December 8, 2009. Age 49. Member of the Audit and

Governance & Public Responsibility Committees.

Kenneth I. Chenault

Chairman and Chief Executive Officer of the American Express Company (financial services).Director since 2008. Also a Director of International Business Machines Corporation. Age 59.Member of the Audit and Compensation & Leadership Development Committees.

4.MANAGEMENT AND STAFF :
http://en.wikipedia.org/wiki/Robert_A._McDonaldhttp://en.wikipedia.org/wiki/Robert_A._McDonaldhttp://en.wikipedia.org/wiki/Angela_Bralyhttp://en.wikipedia.org/wiki/Meg_Whitmanhttp://en.wikipedia.org/wiki/Johnathan_A._Rodgershttp://en.wikipedia.org/wiki/Ernesto_Zedillohttp://en.wikipedia.org/wiki/Scott_Cookhttp://en.wikipedia.org/wiki/Patricia_A._Woertzhttp://en.wikipedia.org/wiki/Susan_D._Desmond-Hellmannhttp://en.wikipedia.org/wiki/Maggie_Wilderotterhttp://en.wikipedia.org/wiki/W._James_McNerney,_Jr.http://en.wikipedia.org/wiki/W._James_McNerney,_Jr.http://en.wikipedia.org/wiki/Kenneth_Chenaulthttp://en.wikipedia.org/wiki/Rajat_Guptahttp://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commissionhttp://en.wikipedia.org/wiki/Galleon_Grouphttp://en.wikipedia.org/wiki/Insider_tradinghttp://en.wikipedia.org/wiki/Canada%27s_Top_100_Employershttp://en.wikipedia.org/wiki/Maclean%27shttp://en.wikipedia.org/wiki/Maclean%27shttp://en.wikipedia.org/wiki/Newsmagazinehttp://en.wikipedia.org/wiki/Greater_Toronto%27s_Top_Employershttp://en.wikipedia.org/wiki/Toronto_Starhttp://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/U.S._Global_Leadership_Coalitionhttp://en.wikipedia.org/wiki/U.S._Global_Leadership_Coalitionhttp://en.wikipedia.org/wiki/Fortune_%28magazine%29http://en.wikipedia.org/wiki/Toronto_Starhttp://en.wikipedia.org/wiki/Greater_Toronto%27s_Top_Employershttp://en.wikipedia.org/wiki/Newsmagazinehttp://en.wikipedia.org/wiki/Maclean%27shttp://en.wikipedia.org/wiki/Canada%27s_Top_100_Employershttp://en.wikipedia.org/wiki/Insider_tradinghttp://en.wikipedia.org/wiki/Galleon_Grouphttp://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commissionhttp://en.wikipedia.org/wiki/Rajat_Guptahttp://en.wikipedia.org/wiki/Kenneth_Chenaulthttp://en.wikipedia.org/wiki/W._James_McNerney,_Jr.http://en.wikipedia.org/wiki/W._James_McNerney,_Jr.http://en.wikipedia.org/wiki/Maggie_Wilderotterhttp://en.wikipedia.org/wiki/Susan_D._Desmond-Hellmannhttp://en.wikipedia.org/wiki/Patricia_A._Woertzhttp://en.wikipedia.org/wiki/Scott_Cookhttp://en.wikipedia.org/wiki/Ernesto_Zedillohttp://en.wikipedia.org/wiki/Johnathan_A._Rodgershttp://en.wikipedia.org/wiki/Meg_Whitmanhttp://en.wikipedia.org/wiki/Angela_Bralyhttp://en.wikipedia.org/wiki/Robert_A._McDonaldhttp://en.wikipedia.org/wiki/Robert_A._McDonald


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Scott D. Cook

Chairman of the Executive Committee of the Board of Intuit Inc. (software and web services).Director since 2000. Also a Director of eBay Inc. Age 58. Chair of the Innovation & Technology Committee and member of the Compensation & Leadership Development Committee.

Rajat K. Gupta

Senior Partner Emeritus at McKinsey & Company (international consulting). Director since2007. Also a Director of American Airlines, Genpact, Ltd., and Harman InternationalIndustries, Inc. Age 61. Member of the Audit and Innovation & Technology Committees.

Robert A. McDonald

Chairman of the Board, President and Chief Executive Officer of the Company. NamedChairman of the Board effective January 1, 2010. Director since 2009. Also a Director of Xerox

Corporation. Age 57 .

W. James McNerney, Jr.

Chairman of the Board, President and Chief Executive Officer of The Boeing Company(aerospace, commercial jetliners and military defense systems company). Director since 2003.Also a Director of International Business Machines Corporation. Age 61. Presiding Director,Chair of the Compensation & Leadership Development Committee and member of the Governance & Public Responsibility Committee.

Johnathan A. Rodgers

President and Chief Executive Officer of TV One, LLC (media and communications company).Director since 2001. Also a Director of Nike, Inc. Age 64. Member of the Innovation & Technology Committee.

Mary Agnes Wilderotter

Chairman, President and Chief Executive Officer of Frontier Communications Corporation(communications company specializing in providing services to rural areas and small andmedium-sized towns and cities). Director since 2009. Also a Director of Xerox Corporation.Age 55. Member of the Compensation & Leadership Development and Governance & Public

Responsibility Committees. Patricia A. Woertz

Chairman, Chief Executive Officer and President of Archer Daniels Midland Company(agricultural processors of oilseeds, corn, wheat and cocoa, etc.). Director since 2008. Age 57.Chair of the Audit Committee and member of the Governance & Public Responsibility Committee.


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Ernesto Zedillo

Former President of Mexico, Director of the Center for the Study of Globalization andProfessor in the field of International Economics and Politics at Yale University. Director since2001. Also a Director of Alcoa Inc. and Citigroup, Inc. Age 58. Chair of the Governance & Public

Responsibility Committee and member of the Innovation & Technology Committee. The Board of Directors has four committees:

Audit Committee Compensation & Leadership Development Committee Governance & Public Responsibility Committee Innovation & Technology Committee

P&Gs PURPOsE :

We will provide branded products and services of superior quality and value that improve thelives of the worlds consumers, now and for generations to come. As a result, consumers willreward us with leadership sales, profit and value creation, allowing our people, ourshareholders, and the communities in which we live and work to prosper .

BRANDS:

For information on our portfolio of leadership brands and our latest innovations, please visitwww.pg.com/brands and www.pginnovation.com .

SUSTAINABILITY:

At P&G, we are focusing our efforts where we can make the most meaningful difference in bothenvironmental and social sustainability. To learn more, please visit www.pg.com/sustainability .

CORPORATE HEADQUARTERS:

The Procter & Gamble CompanyP.O. Box 599, Cincinnati, OH 45201-0599

5.COMPANY AND SHARE HOLDER INFORMATION:
http://www.pg.com/brandshttp://www.pg.com/brandshttp://www.pginnovation.com/http://www.pginnovation.com/http://www.pginnovation.com/http://www.pg.com/sustainabilityhttp://www.pg.com/sustainabilityhttp://www.pg.com/sustainabilityhttp://www.pg.com/sustainabilityhttp://www.pginnovation.com/http://www.pg.com/brands


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P&G SHAREHOLDER INVESTMENT PROGRAM:

The Procter & Gamble Shareholder Investment Program (SIP) is a direct stock purchase anddividend reinvestment plan. The SIP is open to current P&G shareholders as well as new investors and is designed to encourage long-term investment in P&G by providing aconvenient and economical way to purchase P&G stock and reinvest dividends.Highlights of the plan include:

Minimum initial investment $250 Nominal administrative fees, including no enrollment fee, and no dividend reinvestment

fee Optional Cash Investment minimum $50 Administered by P&G Shareholder Services Department

For complete information on the SIP, please read the Program Prospectus. The Prospectus andNew Account Application Form are available at

www.pg.com/en_US/investors/investing_in_pg or by contacting P&G Shareholder Services.GIVING THE GIFT OF P&G STOCK

Did you know you can give P&G stock to your children, grandchildren, nieces, nephews andfriends? Many of our long-time shareholders know what a great gift P&G stock makes for aspecial person on a special occasion. You can make the gift by transferring shares from youraccount or by purchasing shares for the recipient through the SIP. Please visitwww.pg.com/investors or contact P&G Shareholder Services for details.

SHAREHOLDER SERVICES

The Procter & Gamble Shareholder Services Department serves as transfer and dividendpaying agent for P&G Common Stock and Administrator of the Procter & Gamble ShareholderInvestment Program. Registered shareholders and Program participants needing accountassistance with share transfers, plan purchases/sales, lost stock certificates, etc. should contactP&G Shareholder Services at:

Website: www.pg.com/en_US/investors/shareholder_services E-mail: [email protected] Personal assistance (M F, 9a 4p Eastern): 1-800-742-6253; 1-513-983-3034 (outside

U.S. and Canada)

Financial information request line (24 hours): 1-800-764-7483

Transfer Agent

The Procter & Gamble CompanyShareholder Services DepartmentP.O. Box 5572, Cincinnati, OH 45201-5572
http://www.pg.com/en_US/investors/investing_in_pghttp://www.pg.com/en_US/investors/investing_in_pghttp://www.pg.com/investorshttp://www.pg.com/investorshttp://www.pg.com/en_US/investors/shareholder_serviceshttp://www.pg.com/en_US/investors/shareholder_serviceshttp://www.pg.com/en_US/investors/shareholder_servicesmailto:[email protected]:[email protected]:[email protected]:[email protected]://www.pg.com/en_US/investors/shareholder_serviceshttp://www.pg.com/investorshttp://www.pg.com/en_US/investors/investing_in_pg


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Registrar:

The Procter & Gamble CompanyP.O. Box 599, Cincinnati, OH 45201-0599

Exchange Listings:

New York Stock Exchange, NYSE Euronext-Paris

Stock Symbol

PG

Shareholders of Common Stock

There were approximately 2,311,000 common stock shareowners, including shareholders of record, participants in the P&G Shareholder Investment Program, participants in P&G stock ownership plans and beneficial owners with accounts at banks and brokerage firms, as of June30, 2010.

The company has established many production plants in different countries but here we focuson the plants that are operational inPakistan.

Three years after establishment inPakistan P&G acquired a soap-manufacturing facility sprawling over 7-acres of land at Hub, Balochistan in1994.

By 2002 the plant tripled its soapmanufacturing capacity with anadditional investment of $ 3 million. In2004, the Company made an initial

6.PLANT AND MACHINERY:


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Airfreshners

BabyandChildcare

Bodywashand soap

Cosmetics Dishwashing Healthcare

Antiprespirants&deodorants

Batteries Colognes Femininecare

Hair Care HairColo

Petnutrition

Paperproducts

P&GProline

P&Gprofessional

Laundry andfabric care

Houholdclean

Prestigefragrances

Shaving Skincare SmallAppliances

Snacks oralcare

Some of the of P&Gs 250 products are listed below:

Cascade Bounce Gillete Escada perfume Pert Puma Safeguard Pantene Rejoice

8. LIST OF PRODUCTS

WORLDWIDE:


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Nioxin Old Spice Venus Scope

Wella Oral-B Tampax Always HUGO BOSS Fragrances Natural Instincts Camay Ace Align

Ariel Mr. Clean Pringles Swiffer Puffs

Vicks etc


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P&Gs 50 leadership brands are some of the worlds most well known household names. 24 of these 50 brands each generate more than one billion dollars in annual sales. In the past 16years, P&G has had 132 products on SymphonyIRI Groups list of each years 25 mostsuccessful new products, more than our six largest competitors combined.* These 50 brandsrepresent 90% of P&G sales and more than 90% of profits.

Here is a list of leadership brands:

Ace Always/Whisper Ariel

Bold Bounce Bounty

Braun Cascade Charmin

Clairol CoverGirl Crest

Dash Dawn/Fairy Dolce & Gabbana Downy/Lenor Duracell Eukanuba

Febreze/Ambi Pur Fixodent Fusion

Gain Olay Old Spice

MACH3 Max Factor Mr Clean/Mr PropeR

Hugo Boss IAMS Luvs

Gillette Head & Shoulders Herbal Essences

Oral-B Pampers Pantene Prestobarba/Blue Prilosec Pringles Puffs Rejoice/Pert Safeguard SK-II Swiffer Tampax

Tide Venus Vicks

Secret Wella

9. LEADERSHIP BRANDS:
http://ace.info/http://ace.info/http://www.always.com/http://www.always.com/http://www.ariel.co.uk/http://www.ariel.co.uk/http://www.supersavvyme.co.uk/Bold2in1/home.aspxhttp://www.supersavvyme.co.uk/Bold2in1/home.aspxhttp://www.bounceeverywhere.com/http://www.bounceeverywhere.com/http://www.bountytowels.com/http://www.bountytowels.com/http://www.braun.com/http://www.braun.com/http://www.cascadeclean.com/http://www.cascadeclean.com/http://www.charmin.com/http://www.charmin.com/http://www.clairol.com/http://www.clairol.com/http://www.covergirl.com/http://www.covergirl.com/http://www.crest.com/http://www.crest.com/http://www.dash.com/http://www.dash.com/http://www.dawn-dish.com/http://www.dawn-dish.com/http://www.dolcegabbana.com/http://www.dolcegabbana.com/http://www.downy.com/http://www.downy.com/http://www.duracell.com/http://www.duracell.com/http://www.eukanuba.com/http://www.eukanuba.com/http://febreze.com/http://febreze.com/http://www.dentureliving.com/http://www.dentureliving.com/http://gillettefusion.com/http://gillettefusion.com/http://www.ilovegain.com/http://www.ilovegain.com/http://www.olay.com/http://www.olay.com/http://www.oldspice.com/http://www.oldspice.com/http://www.mach3.com/http://www.mach3.com/http://www.maxfactor.com/http://www.maxfactor.com/http://fragrances.hugoboss.com/uk/en/hugoboss-fragrancehttp://fragrances.hugoboss.com/uk/en/hugoboss-fragrancehttp://www.iams.com/http://www.iams.com/http://www.luvsdiapers.com/http://www.luvsdiapers.com/http://www.gillette.com/http://www.gillette.com/http://www.headandshoulders.com/http://www.headandshoulders.com/http://herbalessences.com/http://herbalessences.com/http://www.oralb.com/http://www.oralb.com/http://www.pampers.com/http://www.pampers.com/http://www.pantene.com/http://www.pantene.com/http://www.gillette.com/pt/BR/home.aspx#/products/desechables/pt-BR/index.shtmlhttp://www.gillette.com/pt/BR/home.aspx#/products/desechables/pt-BR/index.shtmlhttp://www.prilosecotc.com/http://www.prilosecotc.com/http://www.pringles.com/http://www.pringles.com/http://rejoice.tudou.com/http://rejoice.tudou.com/http://www.commandersafeguard.com/http://www.commandersafeguard.com/http://www.sk-ii.com/http://www.sk-ii.com/http://www.swiffer.com/http://www.swiffer.com/http://www.tampax.com/http://www.tampax.com/http://www.tide.com/http://www.tide.com/http://www.gillettevenus.com/http://www.gillettevenus.com/http://www.vicks.com/http://www.vicks.com/http://secret.com/http://secret.com/http://www.wella.com/http://www.wella.com/http://www.wella.com/http://secret.com/http://www.vicks.com/http://www.gillettevenus.com/http://www.tide.com/http://www.tampax.com/http://www.swiffer.com/http://www.sk-ii.com/http://www.commandersafeguard.com/http://rejoice.tudou.com/http://www.pringles.com/http://www.prilosecotc.com/http://www.gillette.com/pt/BR/home.aspx#/products/desechables/pt-BR/index.shtmlhttp://www.pantene.com/http://www.pampers.com/http://www.oralb.com/http://herbalessences.com/http://www.headandshoulders.com/http://www.gillette.com/http://www.luvsdiapers.com/http://www.iams.com/http://fragrances.hugoboss.com/uk/en/hugoboss-fragrancehttp://www.maxfactor.com/http://www.mach3.com/http://www.oldspice.com/http://www.olay.com/http://www.ilovegain.com/http://gillettefusion.com/http://www.dentureliving.com/http://febreze.com/http://www.eukanuba.com/http://www.duracell.com/http://www.downy.com/http://www.dolcegabbana.com/http://www.dawn-dish.com/http://www.dash.com/http://www.crest.com/http://www.covergirl.com/http://www.clairol.com/http://www.charmin.com/http://www.cascadeclean.com/http://www.braun.com/http://www.bountytowels.com/http://www.bounceeverywhere.com/http://www.supersavvyme.co.uk/Bold2in1/home.aspxhttp://www.ariel.co.uk/http://www.always.com/http://ace.info/


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Ariel Pampers Always Head &Shoulers

Vicks Safeguard Wella Pantene ProV

10. LIST OF THE PRODUCTS FOR PAKISTAN :


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Top competitors of The Procter & Gamble Company are:

11. LEADING COMPETITORS :


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Johnson & Johnson (with a market share of 39.7 % in 2011) (source :dailytimes.com.pk) Unilever (with a market share of 65% in Pakistan) (source: igisecurities.com.pk) Kimberly-Clark Corporation (market share N\A)

The table below illustrates the comparative analysis of leading competitors of P&G

PG JNJ KMB PVT1 Industry

Market Cap: 183.61B 177.96B 28.56B N/A 1.33B

Employees: 129,000 N/A N/A N/A 683.00

Qtrly Rev Growth (yoy): 3.70% 3.90% 2.00% N/A 9.10%

Revenue (ttm): 85.14B 65.03B 20.85B N/A 983.64M

Gross Margin (ttm): 49.52% 68.83% 31.46% N/A 47.46%

EBITDA (ttm): 18.58B 19.40B 3.95B N/A 124.40M

Operating Margin (ttm): 18.42% 24.97% 13.71% N/A 11.04%

Net Income (ttm): 9.86B 9.67B 1.59B N/A N/A

EPS (ttm): 3.40 3.49 3.99 N/A 1.33

P/E (ttm): 19.60 18.60 18.09 N/A 20.96

PEG (5 yr expected): 1.87 2.23 2.30 N/A 1.69

P/S (ttm): 2.16 2.74 1.37 N/A 1.94

JNJ = Johnson & Johnson

KMB = Kimberly-Clark Corporation

Pvt1 = Unilever (privately held)

Industry = Personal Products
http://www.hoovers.com/johnson-&-johnson/--ID__10824--/freeuk-co-factsheet.xhtmlhttp://www.hoovers.com/johnson-&-johnson/--ID__10824--/freeuk-co-factsheet.xhtmlhttp://www.hoovers.com/unilever/--ID__41850--/freeuk-co-factsheet.xhtmlhttp://www.hoovers.com/unilever/--ID__41850--/freeuk-co-factsheet.xhtmlhttp://finance.yahoo.com/q?s=PGhttp://finance.yahoo.com/q?s=JNJhttp://finance.yahoo.com/q?s=JNJhttp://finance.yahoo.com/q?s=KMBhttp://finance.yahoo.com/q/in?s=PGhttp://finance.yahoo.com/q?s=JNJhttp://finance.yahoo.com/q?s=JNJhttp://finance.yahoo.com/q?s=KMBhttp://finance.yahoo.com/q?s=KMBhttp://biz.yahoo.com/ic/41/41850.htmlhttp://biz.yahoo.com/ic/41/41850.htmlhttp://biz.yahoo.com/ic/41/41850.htmlhttp://finance.yahoo.com/q/in?s=PGhttp://finance.yahoo.com/q/in?s=PGhttp://finance.yahoo.com/q/in?s=PGhttp://biz.yahoo.com/ic/41/41850.htmlhttp://finance.yahoo.com/q?s=KMBhttp://finance.yahoo.com/q?s=JNJhttp://finance.yahoo.com/q/in?s=PGhttp://finance.yahoo.com/q?s=KMBhttp://finance.yahoo.com/q?s=JNJhttp://finance.yahoo.com/q?s=PGhttp://www.hoovers.com/unilever/--ID__41850--/freeuk-co-factsheet.xhtmlhttp://www.hoovers.com/johnson-&-johnson/--ID__10824--/freeuk-co-factsheet.xhtml


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$66.66 -$0.96 (-1.42%)

Today's Open $67.44

Previous Close $67.62

Daily Range $66.46 - $67.69

52-Week Range $57.56 - $67.77

Market Cap $183.61B

P/E Ratio 19.89

Dividend (Yield) $2.10 (3.1%)

Ex-Dividend DateDividend Pay Date

01/18/1202/15/12

Volume 11,967,640

Average Daily Volume 11,643,440

Current FY EPS $4.04

12.STOCK PRICE


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P a g e | 19


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Growth Challenges

P&G executed the Companys growth strategy this past year,we faced a number of extremelychallenging external headwinds two of which are most important and most likely to continuein the year ahead.

Company is facing rapid and signi cant increases in commodity costs Materials and energycosts were up more than $1.8 billion before tax for the scal year. P&Gre taking a holisticapproach to manage these cost increases.

P&G is turning up the dial on our productivity and cost-savings initiatives, as indicatedpreviously.

P&G is creating alternative product formulations and developing materials that use renewablefeed stocks.

P&G is reducing its dependency on commodity and energy costs through its own and itssuppliers sustainability efforts.

P&G is increasing prices where necessary, coupled with innovation where possible, to deliverthe best consumer value.

P&G expect commodity costs to continue escalating in the year ahead and will remain highlydisciplined to ensure it can offset increases as fully as possible while continuing to invest ingrowth and create shareholder value .Developed markets are growing slower than expected.These markets principally North America, Western Europe and Japan account for abouttwo-thirds of our sales. Their under-performance reduced total Company growth by onepercentage point in scal year 2011.

P&G primary response to slow-growth markets is innovation the only sustainable way to growfaster than the markets in which P&G competes. Innovation creates consumer value, stimulatesmarket growth and attracts r etail support. We dont anticipate accelerated economic recoveryin developed markets in the coming year, but P&G remain con dent that its focus on creatingand expanding innovations will enable P&G to grow even where underlying market growthrates remain soft

13. FUTURE GROWTH:


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Growth Opportunities:

P&G has the right strategy and supporting capability to grow well into the future. The growthopportunities created by our strategy are clearest

when you look at population and economic growth trends and P&G geographic expansionplans. Its estimated that the worlds population will be nearly eight billion people by 2020. Allthese

people in developed and developing countries alike will have

the same fundamental needs, wants and aspirations for products and services that make theirlives better. There is tremendous potential for P&G to grow by meeting those needs. P&G isgoing after this potential by making its products available in more categories, countries andchannels, expanding product lines to meet a fuller range of regimen needs, and stimulatingmarket growth.

P&G currently compete in a total of 38 product categories. Today, on average, P&G compete in19 categories in any given country. P&Gs most developed market, the United States, where itcompetes in 35 product categories. In Russia and Mexico, P&G in the 20s. In China, Brazil andIndia, it is in the mid-to-high teens. In Nigeria, it is in the mid-single-digits .P&G ve-yearplan will increase the average number of categories from 19 to 24.Within each of thesecategories and countries, there are generally ve distinct price tiers ranging from the bestperforming and highest priced products in the super premium and premium tiers, down toproducts that offer basic bene ts at a lower price in the value tier .On this basis, P&G currentlycompete in only about one-third of the potential segments. Here, too, it is expanding its

presence.

P&G has recently introduced the Crest 3D White lineup, Gillette Fusion Pro Glide, andOlay ProX as premium products. At lower price points, innovations such as Gillette Guard(P&G entry point razor system in India), Pampers Simply Dry and Gain Dishwashing Liquidare attracting new consumers to P&G brands. P&G brands available in more retail channels.Today, P&G compete in less than 40% of possible channel segments. Across the sevenpredominant channels, the vast majority of its current business is in four of them.

P&G is executing plans now to increase our presence in all channels. It is lling out productlines to ful ll consumers regim en needs. A good example is Pantene in Japan, where P&G hasrecently redesigned its regimen and pricing strategy. Japanese women are meticulous aboutcaring for their hair .Many use up to eight steps throughout the day. It starts with a nighttimeshampoo washing, then a conditioner and in-shower treatment. Then she uses a jar treatmentbefore bed. In the morning, she uses water to get the frizz out and applies a leave-in treatment.She carries a tube treatment in her purse for midday application, and she applies anothertreatment when she gets home in the evening. We were previously serving her in only a few of these subcategories. By launching a full line, addressing all points in her regimen,


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P&G has increased our average sales per unit of Pantene by nearly 15% and market share hascontinued to grow. In addition to entering and creating new markets, it needs to grow ourcurrent markets, which P&G do by driving usage frequency and trade-up to higher value items.Consider P&G position in the diaper market in Egypt. Pampers currently has roughly an 80%share of the disposable diaper market. However , only about 10% of changes are done withdisposable diapers. The rest are done with cloth or nothing at all. In India,

Duracell has a share of over 75% of the alkaline battery market which sounds good, until yourealize that only about 3% of batteries used are alkaline. P&G growth in these markets will notbe dependent on growing share. It will be dependent on growing markets.

How fast markets can develop when P&G launch new innovation and build broad-basedconsumer awareness of its products. For example , the size of the Greater China diaper marketwas only $200 million in the year 2000 when Pampers was just starting to gain a foothold.Today, the China diaper market is $2.8 billion an increase of 14 times in ten years. This levelof market growth happens when brands like Pampers innovate in ways that genuinely improvepeoples everyday lives , for example , that when babies stay dry throughout the night, theysleep better, which in turn helps them grow and develop. P&G innovate based on insights likethis and consumers reward because they value the improvements and innovations bring totheir lives. PNG wants to bring this kind of innovation to more consumers in more parts of theworld, and we have abundant opportunity to do so. In China and India, the average consumerchanges a diaper less than once per day, in Brazil twice per day and in the U.S. four times perday. Getting China and India usage levels up to the levels of Brazil represents not only a $2.5billion opportunity for Pampers, but also the chance to improve parents and babies lives invery fundamental ways. In India, the market size for wet shaving systems grew by 15% in just

one year following the launch of our low- cost Mach3 razor . Were working to accelerate thatgrowth with Gillette Guard.

Developed markets can also be stimulated to drive higher growth as we demonstrated with theFebreze I Wish I Could Wash advertising campaign in Japan, which restored the growth of the brand in that country. Clearly, there is huge opportunities for growth, and for consumers,behind our Purpose-inspired Growth Strategy. P&G is expanding into more categories,countries, and channels. P&G is meeting a broader range of consumer needs and stimulatingmarket growth in developed and developing markets alike. And P&G portfolio of businessespresents abundant opportunity to grow. P&G has the largest Beauty and Grooming business inthe world, with a market share of only 18%. P&G has the second largest consumer health carebusiness in the world and P&G has only a 6% share. In Household Care, P&G oldest and mostdeveloped business, has only a 27% share. Increasing market share by ve points in each of these three businesses is more than a $20 billion sales opportunity.Looked at a different way,P&G generates annual sales of about $96 per person in the U.S. and about $20 per person inMexico. P&G sales in China are only about $4 per person. Indonesia is just over $1, and Indiaand Sub-Saharan Africa are just under $1.Getting per capita spending on P&G products in


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these four big markets up to the level of Mexico would add more than $60 billion to annualsales.

Economic growth should help. A study released in November 2010 by the Boston ConsultingGroup projected that over the next decade China will add 270 million consumers to its middle-

income and af uent class. This is roughly the same number as there are in the U.S. today. Thestudy went on to say that 41% of the current middle-income and af uent class plans to trade upto more premium products especially in packaged goods and clothing

In 2009, when we established P&G growth strategy, it is serving four billion consumers. P&Gestablished a goal of increasing the number of consumers P&G serve by 1 billion by 2014/ 15.Last year, P&G served 4.2 billion consumers and remain on track to serve 5 billion by 2015.Today, consumers purchase a P&G product about 40 billion times a year. As a result of thestrategy and plans P&G is executing currently, and expecting to increase those purchases toabout 60 billion a year by the midpoint of this decade.

The above chart shows that PG has underperformed its dividend increases, suggesting that itsfuture growth opportunities are declining and investors are becoming more concerned aboutPG.

PG is returning significant cash to shareholders through dividends and stock buybacks (about95% for fiscal 2011 relative to net income and 87% relative to operating cash flow). However,the underlying performance is not growing. While revenues are up, net income and operatingcash flow are down from 2009 and 2010 levels. Furthermore, PG has consistently investedabout $3 billion per year into its business. This means that to maintain the dividends, buybacksand investments, PG has started to expand its balance sheet with debt. In reviewing thebalance sheet over the past three years, one can see an upward creep in accounts payable as wellas the issuance of $1.5 billion in net debt in fiscal 2011.


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The next graph shows the normalized performance of the stock price, the dividend and thetrailing dividend yiel d.

The above chart shows that PG has underperformed its dividend increases, suggesting that itsfuture growth opportunities are declining and investors are becoming more concerned aboutPG.

PG is returning significant cash to shareholders through dividends and stock buybacks (about95% for fiscal 2011 relative to net income and 87% relative to operating cash flow). However,the underlying performance is not growing. While revenues are up, net income and operatingcash flow are down from 2009 and 2010 levels. Furthermore, PG has consistently investedabout $3 billion per year into its business. This means that to maintain the dividends, buybacksand investments, PG has started to expand its balance sheet with debt. In reviewing thebalance sheet over the past three years, one can see an upward creep in accounts payable as wellas the issuance of $1.5 billion in net debt in fiscal 2011.

In contrast, KMB shows slight increases in revenue and relatively flat net income, but also has

a much lower payout ratio for buybacks and dividends relative to its operating cash flow. JNJ,another tremendous dividend stock, shows even lower payout ratios. JNJ has slightly decliningrevenues from 2008 to 2010, but a slight increase in net income. JNJ has effectively no leveragewith an enterprise value lower than its market capitalization.

While PG has very little debt, these small trends could be the sign of something moreworrisome in the future. However, they could also be a short term blip that will resolve itself


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with future growth. In this case, with some additional analysis, PG might be buyingopportunity.

A company ramping up for increased demand may increase raw materials and work-in-progressinventory at a faster rate when it expects robust future growth. As such, we might consider

oversized growth in those categories to offer a clue to a brighter future, and a clue that mostother investors will miss. We call it "positive inventory divergence.

P&Gs most developed market, the United States, where it competes in 35 pro duct categories.In Russia and Mexico, P&G in the 20s. In China, Brazil and India, it is in the mid-to-highteens. In Nigeria, it is in the mid-single-digits .P&G ve-year plan will increase the averagenumber of categories from 19 to 24.Within each of these categories and countries, there aregenerally ve distinct price tiers ranging from the best performing and highest pricedproducts in the super premium and premium tiers, down to products that offer basic bene ts ata lower price in the value tier .On this basis, P&G currently compete in only about one-third of the potential segments. Here, too, it is expanding its presence.

PG's estimated forward dividend yield is 3.6% based upon a recent closing price of $62.72 andthe author's projected annual dividend of $2.23. The following table shows the estimatedforward quarterly dividends as well as the recent historical quarterly dividend s.

Historical and

ProjectedDividends Type

Ex-Dividend Date Quarterly Dividend ($per share)

Change onprior year

Projected 10/19/2012 0.567 8.0%

Projected 7/20/2012 0.567 8.0%

Projected 4/27/2012 0.567 8.0%


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Projected 1/19/2012 0.525 8.9%

Historical 10/19/2011 0.525 8.9%

Historical 7/20/2011 0.525 8.9%

Historical 4/27/2011 0.525 8.9%Historical 1/19/2011 0.482 9.5%

Historical 10/20/2010 0.482 9.5%

Historical 7/21/2010 0.482 9.5%

Historical 4/28/2010 0.482 9.5%

Historical 1/20/2010 0.440 10.0%

Historical 10/21/2009 0.440 10.0%

Historical 7/22/2009 0.440 10.0%

Historical 4/22/2009 0.440 10.0%

Historical 1/21/2009 0.400 14.3%

Historical 10/22/2008 0.400 14.3%

The above table shows strong dividend growth, but also highlights the fact that dividendgrowth is slowing down.


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Net Sales

($ billions)

Operating Cash Flow

($ billions)

Diluted Net Earnings

(per common share)

2011 Net Sale

By geographic region By market maturity By business segment

14. FINDINGS


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Amounts in millions, except per share amounts

2011 2010 2009 2008 2007

Net Sales $82,559

$78,938

$76,694

$79,257

$72,441

Operating Income 15,818

16,021

15,374

15,979

14,485

Net Earnings 11,797

12,736

13,436

12,075

10,340

Net Earnings Margin from ContinuingOperations

14.3%

13.9%

13.9%

14.2%

13.3%

Diluted Net Earnings per Common Share fromContinuing Operations

$3.93

$3.53

$3.39

$3.40

$2.84

Diluted Net Earnings per Common Share 3.93 4.11 4.26 3.64 3.04

Dividends per Common Share 1.97 1.80 1.64 1.45 1.28

Net sales increased 5% to $82.6 billion.o Organic sales increased 4%.o Unit volume increased 6% versus the prior year, behind double-digit growth in

developing regions and low single-digit growth in developed regions. Net earnings from continuing operations increased 8% to $11.8 billion behind sales

growth and a lower effective tax rate, partially offset by operating margin contraction.o Operating margin declined 110 basis points behind a reduction in gross

margin, partially offset by a reduction in selling, general and administrativeexpenses (SG&A) as a percentage of net sales. Gross margin declined behindhigher commodity costs, partially offset by manufacturing cost savings. SG&A asa percentage of net sales declined due to reduced foreign currency exchange costs

15. FINANCIAL HIGHLIGHTS


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and a reduction in overhead spending as a percentage of net sales due toproductivity improvements, partially offset by increased marketing investments.

Net earnings decreased 7% to $11.8 billion.o Net earnings from discontinued operations declined $1.8 billion due to the

gains on the sale of the pharmaceutical business in the prior year. Diluted net earnings per share from continuing operations increased 11% to $3.93.

o Diluted net earnings per share declined 4% to $3.93, including a decline indiscontinued operations of $0.58.

o Core EPS grew 8% to $3.95. Cash flow from operating activities was $13.2 billion.

o Free cash flow was $9.9 billion.o Free cash flow productivity was 84%.

Corporate Overview:

Proctor and Gamble is a Fortune 500 multinational corporation producing consumer goods.The headquarters are in Cincinnati, Ohio, USA. It is the 8th largest corporation in the world interms of its market capitalization and its market capitalization is greater than the GDP of manycountries. The company has operations in more than 180 countries and is serving nearly 4billion consumers.

Brand Value:

P&G has a market capitalization worth $180 billion and has the strongest portfolio of brands.These 43 brands account for 85% of sales and more than 90% of profit. P&G is certainly one of the most valuable companies in the world .

Corporate Image:

Although corporate image changes from person to person and from time to time but P&G has

created its corporate image as one of the best company dealing in household products in theworld

Stakeholders:

Because of good market reputation P& Gs employees feel a sense of pride for being a part of itsrich cultural heritage and its global scale of operations. Their strategy is to Engage and equipall P&G employees to build Sustainability thinking and practices into their everyday work.For

16.MARKET REPUTATION :


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consumers, P&G stand for quality and value for money. P&G has always put consumer at thecentre and has always evolved itself with their demands.

Communities:

P&G is actively engaged in communitys welfare a ctivities. For example, P&G made hugecontributions for Haiti earthquake victims. Initiatives such as Childrens Safe Drinking Water and Pampers 1 Pack = 1 Vaccine are examples of how P&G is improving the lives of millions of people every day. Therefore, communities see P&G as responsible and committed organisation.

Since its inception P&G has successfully managed to establish its reputation as a leader. P&Ghas established its corporate reputation as a pioneer in consumer goods.It has ranked 3rd onthe worlds most respected companies list compiled by Barron magazine.

Procter & Gamble is the world's largest producer of household and personal products byrevenue, with its products reaching 4 billion people worldwide including Tide detergent,Pampers diapers, and Gillette razors, that generate over $1 billion in revenue annually. One of the key areas of growth for the company is its emerging markets worldwide. P&G alreadyowns large and growing market share in various countries. P&G has created its different itsprojects specially for catering the needs of developing countries.Committed to remaining theleader in its markets, P&G is one of the most aggressive marketers and is the largest advertiserin the world.

Procter & Gamble has maintained a strong link among different countries around the globe.Numerous new products and brand names were introduced over time, and Procter & Gamble is

continuously branching out into new areas.Procter & Gamble acquired a number of othercompanies that diversified its product line and significantly increased profits.Procter & Gamblehas dramatically expanded throughout its history andmost of its brands are global productsthat available on several continents.

17.Corporate Reputation

18. Conclusion:


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1. P&G, Pakistan has realized the huge potential of the rural markets i.e. 64% of the totalpopulation, but has notyet developed a successful strategy to penetrate this market.They can get success by two key strategies; firstly by developing a strong distributioninfrastructure and secondly, by adapting the packaging and pricing to this market.

2. Due to this growing market, there are lots of opportunities for P&G to exploit thisgrowing market by introducing new products so they should start initiating newprojects to avail those opportunities.

3. Due to rising awareness among people, switching trend toward health care soaps ishigh. Therefore, it is a good opportunity to capture this segment through efficientmarketing practices.

4. They should try to sustain their market share in soap industry which may slip due tothe entry of local soap manufacturers. Because the prices of local soaps are less than thesafeguard.

5. Unlike P&G, Unilever and Reckitt Beckinser, their major competitors,have alreadystarted to promote their corporate brand as oppose d to their products. Unileverdistinctively display their logo on their advertisements. So they should also focus on

this strategy.

6. They should give subsidiaries more freedom to develop a marketing strategy that suitsthe local environment and a production strategy that fits the rural market of Pakistan.

In addition, since market values acquisitions that Procter & Gamble performs, so in the future,the company may conduct other mergers and acquisition that will strengthen the corporatebrand image as the provider of home and personal care products.

------------------------------------------------THE END----------------------------------------------------

19.Recommendation:


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http://seekingalpha.com/article/307094-procter-gamble-strong-but-slowing-dividend-growth

Procter & Gamble Inc. ( PG ) is a leading dividend stock and member of the Dow JonesIndustrial Average. PG provides package consumer products to almost every corner of theworld stretching across countless brands for everything from skin care to laundry detergentto snacks to pet food to batteries to razor blades. PG was founded in 1837 and isheadquartered in Cincinnati, Ohio. Certain PG business lines compete with Kimberly-ClarkCorporation ( KMB ) and Johnson & Johnson ( JNJ ) .

PG had about $82.6 billion in revenue in fiscal 2011. PG has a market capitalization of $172.6 billion and an enterprise value of $208.3 billion, suggesting little leverage. PG has astrong track record of paying dividends. For this last fiscal year, its payout ratio to netincome was 49% and its payout to operating cash flow was 44%. It should also be notedthat over the past three years, PG has also repurchased an equivalent amount of stock to itsdividends paid. This suggests that PG will have limited space to grow its dividend withoutgrowth in its underlying metrics. More worrisome is that its net income has declined overthe past three years.

PG's estimated forward dividend yield is 3.6% based upon a recent closing price of $62.72and the author's projected annual dividend of $2.23. The following table shows theestimated forward quarterly dividends as well as the recent historical quarterly dividends.

Historical and Projected Dividends

Type Ex-Dividend Date Quarterly Dividend ($per share)

Change onprior year

Projected 10/19/2012 0.567 8.0%

Projected 7/20/2012 0.567 8.0%

Projected 4/27/2012 0.567 8.0%

Projected 1/19/2012 0.525 8.9%

Historical 10/19/2011 0.525 8.9%

Historical 7/20/2011 0.525 8.9%

Historical 4/27/2011 0.525 8.9%

Historical 1/19/2011 0.482 9.5%

Historical 10/20/2010 0.482 9.5%

APPENDIX
http://seekingalpha.com/article/307094-procter-gamble-strong-but-slowing-dividend-growthhttp://seekingalpha.com/article/307094-procter-gamble-strong-but-slowing-dividend-growthhttp://seekingalpha.com/symbol/pghttp://seekingalpha.com/symbol/pghttp://seekingalpha.com/symbol/kmbhttp://seekingalpha.com/symbol/kmbhttp://seekingalpha.com/symbol/kmbhttp://seekingalpha.com/symbol/jnjhttp://seekingalpha.com/symbol/jnjhttp://seekingalpha.com/symbol/jnjhttp://seekingalpha.com/symbol/jnjhttp://seekingalpha.com/symbol/kmbhttp://seekingalpha.com/symbol/pghttp://seekingalpha.com/article/307094-procter-gamble-strong-but-slowing-dividend-growth


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Historical 7/21/2010 0.482 9.5%

Historical 4/28/2010 0.482 9.5%

Historical 1/20/2010 0.440 10.0%

Historical 10/21/2009 0.440 10.0%

Historical 7/22/2009 0.440 10.0%

Historical 4/22/2009 0.440 10.0%

Historical 1/21/2009 0.400 14.3%

Historical 10/22/2008 0.400 14.3%


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www.wikipedia.com

www.pg.com

www.pg.com/brands

www.pginnovation.com

www.pg.com/sustainability.

www.pg.com/en_US/investors/investing_in_pg

www.pg.com/investors

www.pg.com/en_US/investors/shareholder_services

www.dailyfinance.com

www.seekingalpha.com

Source: Author estimates, Yahoo Finance

REFERENCES
http://www.pg.com/http://www.pg.com/brandshttp://www.pginnovation.com/http://www.pg.com/sustainabilityhttp://www.pg.com/en_US/investors/investing_in_pghttp://www.pg.com/investorshttp://www.pg.com/en_US/investors/shareholder_serviceshttp://www.dailyfinance.com/http://www.seekingalpha.com/http://www.seekingalpha.com/http://www.dailyfinance.com/http://www.pg.com/en_US/investors/shareholder_serviceshttp://www.pg.com/investorshttp://www.pg.com/en_US/investors/investing_in_pghttp://www.pg.com/sustainabilityhttp://www.pginnovation.com/http://www.pg.com/brandshttp://www.pg.com/

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