Procter & Gamble Co., which makes consumer brands such as Tide laundry detergent and Bounty paper towels, on Monday, raised its quarterly dividend by 9 percent to 52.5 cents per share.

The dividend, which was previously about 48.2 cents per share, is payable on May 16, to common shareholders of record at the close of business on April 29. The company also raised its dividend on two classes of preferred shares.

Shares of the consumer-products company rose 16 cents to $62.35 in after-hours trading. The shares rose 29 cents to close at $62.19, in the regular session.

Procter & Gamble says it has increased its shareholder payout for 55 years. Unlike many of its peers, it raised its dividend during the depths of the financial crisis in 2008 and 2009.