Finding a great stock, much less a great dividend stock, is a lot easier said than done. If this is your objective, however, then you could do a lot worse than Procter & Gamble (NYSE:PG), the nearly 180-year-old consumer products company headquartered in Cincinnati.

As Motley Fool contributor John Maxfield discusses in the following video, there are at least three reasons for this. First, Procter & Gamble yields 3.1% compared with the S&P 500, which yields 1.98%. Second, it currently distributes only 64% of its earnings, leaving plenty of room to increase its dividend if the board chooses to do so. Finally, the company has both paid and increased its dividends consistently for 57 years, earning it a coveted spot on S&P's list of Dividend Aristocrats.

It's for these reasons, in turn, that John believes Procter & Gamble is indeed a great dividend stock for income-seeking investors to buy and own today.

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John Maxfield has no position in any stocks mentioned. The Motley Fool recommends Procter & Gamble. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.