Procter & Gamble (PG) spent $1.122 billion on buybacks versus $1.215 billion on dividends. In comparison the company spent $1.332 billion on share buybacks and $1.239 billion on dividend payments. The money spent on buybacks translates into 38 to 44 cents/share for each of the past two quarters. This provider of branded consumer goods products worldwide has spent over $43 billion on share buybacks between 4Q 2004 and 1Q 2009, which was much larger than the amount of total dividends paid for the same period. Procter & Gamble is a dividend aristocrat, which has been increasing its dividends for the past 53 consecutive years, with its most recent dividend payment being 44 cents/share . Check my analysis of Procter & Gamble (PG).

Another notable company on the share repurchasing front is Johnson & Johnson (JNJ). The company repurchased $834 million worth of stock in 1Q 2009 versus $878 million bought in 4Q 2008. The money spent on buybacks translates into 30 cents/share for each of the past two quarters. In comparison this healthcare company spent $1.273 billion on dividends for each of the last two quarters. JNJ has been consistently increasing its dividends for 47 consecutive years, with its most recent dividend payment being 49 cents/share. Check my analysis of Johnson and Johnson (JNJ).

McDonald’s (MCD) returned $813 million and $553.4 million respectively on stock buybacks and dividend distributions in the latest quarter. The stock buyback translates into $0.70/share for the quarter, which could have been paid as a cash dividend. McDonald’s has been consistently increasing its dividends for 32 consecutive years, with its most recent dividend payment being 50 cents/share.