KARACHI, March 20: The board of directors of Procter & Gamble Company has announced an increase in quarterly dividend on its Common Stock and series A and B ESOP Convertible Class A Preferred Stock from $0.28 to $0.31 per share, payable on or after May 15, 2006 to shareholders of record at the close of business on April 21, 2006, says a press release.