Procter & Gamble (PG) Expects 1% to 3% Organic Growth, Is That Enough?

Procter & Gamble (NYSE:PG) declared its quarterly dividend of $1.0885 per share earlier this month, a payout the company has raised for 70 years in a row. It reports first-quarter results before the market opens this week. The company is one of the 10 No-Brainer Stocks to Buy Now.But the business behind that streak is barely growing. Organic sales were flat in the fiscal fourth quarter, and core earnings per share fell 3% to $1.43. The question is whether a company guiding to organic growth of 1% to 3% can justify a stock multiple that sits close to its five-year average.P&G sells Charmin, Pampers, Bounty, Oral-B and Head & Shoulders, everyday goods that households keep buying when budgets tighten.