Procter Gamble (NYSE: PG) just gave investors some more reasons to like its stock this year. Management's mid-January earnings update contained good news regarding sales and earnings trends. The fiscal Q2 report showed that organic sales are on track to expand at a decent clip following big gains last year. Profits are rising at an even faster pace thanks to price increases along with the consumer staples giant's stellar operating efficiency.

Those factors all suggest that P stock can beat the market in 2024 after trailing the Dow Jones Industrial Average this past year. Moreover, investors should be even more excited about the company's prospects for boosting its dividend in just a few months.

Dividend increases are ultimately driven by operating and financial momentum, and that is proving to be strong heading into the second half of P's fiscal year. Sure, organic sales rose 4% in Q2 to mark a slowdown compared to the prior quarter's 7% spike.

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Source Fool.com