P&G outsources work to unit of HP

Procter & Gamble Co. has agreed on a deal with a unit of Hewlett-Packard Co. to transfer its transactional accounts-payable business to HP. The deal will affect about 135 P&G employees, all based outside the United States. It's the fourth in a series of outsourcing deals signed by P&G within the last year. Overall, the four contracts total about $4.1 billion and cut P&G's work force by about 3,400 employees.

Fifth Third parent increases dividend

The parent of Fifth Third Bank will raise its quarterly dividend by 10 percent, the Cincinnati banking giant said Tuesday. Fifth Third Bancorp said the new dividend will be 32 cents, up from 29 centsthe quarter before. The dividend will be paid April 15 to shareholders of record March 31.The last time the bank boosted its quarterly dividend was June 2003.

Schriber returns as utilities chief

Alan R. Schriber, an architect of the state's electric deregulation plan, Tuesday was reappointed chairman of the Public Utilities Commission of Ohio. The commission regulates electric, natural gas, telecommunications, commercial transportation and water utilities. Schriber, 58, was named to a five-year term expiring in 2009.

The Wyoming resident is a former Miami University professor who served on the commission from 1983 to 1989. Gov. Bob Taft named him chairman in 1999.

CORRECTIONS

Duke not owner: A story in last Thursday's Business section incorrectly reported that Duke Realty Corp. owns the Ohio National building in Montgomery. Duke Realty manages the building, which is owned by Ohio National.

• The name of Technics, a maker of stereo components, was incorrectly spelled in a story Tuesday.