188-year-old Dividend King just unlocked unexpected growth engine

188-year-old Dividend King just unlocked unexpected growth engine Mwangi Enos Mon, August 10, 2026 at 7:34 PM GMT+2 5 min read PG AWR DOV NWN GPC There are stocks you own for growth. There are stocks you own for income. And then there are the rare ones where a business that appeared to be doing the slow, reliable work of a dividend compounder suddenly shows you something you were not expecting.

Procter and Gamble has done exactly that with its Beauty segment. Procter & Gamble Company ( PG ) just extended one of the most remarkable dividend streaks in American business history to 70 consecutive years of increases.   The company has paid a dividend every single year since its incorporation in 1890, and the current quarterly payment of $1.

0885 per share adds to a planned $10 billion in total dividends for fiscal 2026, according to its third-quarter fiscal 2026 results statement. Only five other publicly traded companies have matched 70 consecutive increases: American States Water Company (AWR), Dover Corporation ( DOV ), Northwest Natural Holding Company (NWN), Genuine Parts Company ( GPC ), and Parker-Hannifin Corporation ( PH ), according to The Motley Fool dividend numbers report.   PG currently trades at $145.

79, up 3. 99% year-to-date, according to Yahoo Finance . But the income story is only half of what is happening here.

The growth story is in the Beauty segment, and it's worth paying attention to. Also Read: History of Procter & Gamble: Timeline and Facts Beauty's breakout — the segment leading Procter & Gamble P&G operates five divisions: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. In the fiscal third quarter of 2026 , ended March 31, Beauty was the top performer by every meaningful metric.

Beauty reported net sales of $3. 866 billion, up 11% on a reported basis Organic sales grew 7% year over year, led by 5% volume growth. Pre-tax earnings rose 11% to $761 million.

Source: P&G Fiscal Year 2026 Third Quarter Results I took some time to even look at the sub-category breakdown. And it is even more telling. Personal Care organic sales grew in the high single digits, driven by innovation-based volume gains.

Skin Care Organic sales also grew in the high single digits, supported by a favorable premium product mix and higher volumes. Related: Dividend King Coca-Cola is suddenly acting like a growth stock Hair Care grew into the mid-single digits, led by innovative pricing in North America and Europe. For a company whose detergent, diaper, and paper towel businesses are the perennial assumptions in consumer staples coverage, a segment growing organically at 7% with 11% earnings growth stands out.

That is not steady compounding, but acceleration. Story Continues The overall Procter & Gamble Q3 results and what they tell investors The broader Q3 fiscal 2026 financial picture from the April 24 earnings release was solid, if not spectacular by P&G's historical standards. Total net sales reached $21.

2 billion, up 7% year-over-year Organic sales grew 3%, driven by 2% volume and 1% price Core EPS grew 3% to $1. 59 Operating cash flow was $4 billion The company returned $3. 2 billion to shareholders in the quarter, including $2.

5 billion in dividends and over $600 million in buybacks. Management maintained its full-year fiscal 2026 guidance despite absorbing $400 million in after-tax tariff headwinds and $150 million in commodity cost increases.   Full-year organic sales growth is expected to be up to 4%, with core EPS in the $6.

83 to $7. 09 range, though toward the lower end. CEO Shailesh Jejurikar framed the quarter in the earnings release when he said; We delivered a solid acceleration in top-line results with broad-based growth across product categories and regions.

"We continue to believe the best path to sustainable, balanced growth is by strengthening the execution of our integrated growth strategy. " Shailesh continued. Only five other publicly traded companies have matched P&G's 70 consecutive dividend streaks increases.

Most of its growth story is in the Beauty segment. Daniel Acker/Bloomberg via Getty Images The Thorne acquisition and what it reveals about P&G's ambition The 70-year dividend streak is a rearview mirror story. The forward-looking signal came on August 4, when P&G announced a $3.

8 billion all-cash acquisition of Thorne HealthTech, a science-backed vitamin and supplement company with a strong base among healthcare professionals and younger demographics. Thorne was taken private by L Catterton in 2023. P&G is paying a significant premium to re-enter it into the public company ecosystem under its consumer health umbrella.

The deal is expected to close in Q4 2026, pending regulatory clearance. Also Read: Procter & Gamble Company Latest News and Stories My read of this acquisition is that it's P&G signaling where its next growth chapter lives. Premium wellness, preventive health, and practitioner-trusted supplements are fast-growing categories that the company's existing distribution scale can amplify.

The Thorne brand fits naturally alongside the dermatology and personal care products already driving the Beauty segment's outperformance. Related: Procter & Gamble Stock: A Dividend King with a $10 billion payout in fiscal 2026 If you think of P&G as a "park it and collect the dividend" stock, the combination of 7% growth in its beauty segment and a $3. 8 billion wellness bet suggests management is not content with simply steady compounding.

In fact, Fortune named P&G America's most innovative household products company for the third consecutive year in April 2026. The Thorne deal is the latest evidence that the innovation ranking is, of course, not honorary. At $145.

79 with a 70-year dividend-raise streak, 3% organic growth in a tariff-pressured environment, a Beauty segment outperforming every other division, and a wellness acquisition that extends the premium portfolio, P&G remains exactly what Cramer's "own don't trade" description was built for. Related: Disney's big bet on the NFL is already paying major dividends This story was originally published by TheStreet on Aug 10, 2026, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.