<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>div74cv.txt
<DESCRIPTION>8-K - DIVIDEND ANNOUNCEMENT - 07/14/04
<TEXT>
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act Of 1934


Date of Report (Date of earliest event reported)                   July 14, 2004



                          THE PROCTER & GAMBLE COMPANY
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


    OHIO                                1-434                    31-0411980
--------------------------------------------------------------------------------
(State or other jurisdiction      (Commission              (IRS Employer
  of incorporation)                 File Number)             Identification No.)


ONE PROCTER & GAMBLE PLAZA, CINCINNATI, OHIO                           45202
--------------------------------------------------------------------------------
(Address of principal executiveoffices)                              (Zip Code)


Registrant's telephone number, including area code    (513) 983-1100
                                                   -----------------------------


ITEM 9.  REGULATION FD DISCLOSURE

         On July 14, 2004, The Procter & Gamble Company (the "Company") issued a
news release announcing that the Company declared a quarterly dividend of
twenty-five cents ($.25) per share on the Common Stock and on the Series A ESOP
Convertible Class A Preferred Stock, payable on or after August 16, 2004 to
shareholders of record at the close of business on July 23, 2004. The Company is
furnishing this 8-K pursuant to Item 9, "Regulation FD Disclosure".


                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       THE PROCTER & GAMBLE COMPANY


                                       BY:/S/LINDA D. ROHRER
                                          -------------------------------------
                                          Linda D. Rohrer, Assistant Secretary
                                          July 14, 2004



                                    EXHIBITS

99. News Release by The Procter & Gamble Company dated July 14, 2004.


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</DOCUMENT>