Depending on how you calculate it, Procter & Gamble (NYSE: PG) is either under intense pressure to keep its dividend growth to a minimum — or it has room to jack the payout far higher. The gap between those results comes from the fact that P&G has shed over 100 brands from its portfolio, including massive franchises like Duracell batteries and Coty beauty products.
That shift, plus dramatic foreign-currency swings, has understated its actual divided-growth potential.