Busiest week for dividends increases in 2009

Last week marked the busiest week for dividend increases in 2009 as several blue chip companies such as IBM, Costco and Exxon Mobil raised their payouts. It is always bullish to see companies which have always rewarded shareholders with raised payouts continue operating in a shareholder friendly pattern of behavior.

ExxonMobil (XOM), which engages in the exploration, production, transportation, and sale of crude oil and natural gas, raised its quarterly dividend by 5% to $0.42 per share. Exxon Mobil is a dividend aristocrat, which has rewarded its shareholders with an uninterrupted streak of increased dividends for 27 consecutive years. The stock of the largest energy company in the world currently yields only 2.40%. Check out my analysis of XOM.

International Business Machines (IBM), which develops and manufactures information technology products and services worldwide, announced a 10% boost to its quarterly dividend to $0.55 per share. IBM is a dividend achiever, which has rewarded its shareholders with an uninterrupted streak of increased dividends for 14 consecutive years. The stock currently yields only 2.00%. Check out my analysis of IBM.

W.W. Grainger, Inc. (GWW), which distributes facilities maintenance and other related products in North America., announced a 10% boost to its quarterly dividend to $0.55 per share. W.W. Grainger, Inc. is a dividend aristocrat, which has rewarded its shareholders with an uninterrupted streak of increased dividends for 38 consecutive years. The stock currently yields only 2.00%. Check out my analysis of GWW.

Costco (COST), which operates membership warehouses that offer a selection of branded and private label products in a range of merchandise categories in no-frills, self-service warehouse facilities, announced an increase to its quarterly dividend from $0.16 to $0.18 per share. Costco has rewarded its shareholders with an uninterrupted streak of increased dividends since 2004. The stock currently yields only 1.30%.

Occidental Petroleum Corporation (OXY), which operates as an oil and gas exploration and production company, announced an increase to its quarterly dividend from $0.32 to $0.33 per share. Occidental Petroleum Corporation has rewarded its shareholders with an uninterrupted streak of increased dividends since 2003. The stock currently yields only 2.20%.

Safeway Inc. (SWY), which operates as a food and drug retailer in North America, announced a 21% boost to its quarterly dividend to $0.10 per share. Safeway Inc. has rewarded its shareholders with an uninterrupted streak of increased dividends since 2005. The stock currently yields only 1.60%.

Energy Transfer Equity, L.P. (ETE), a master limited partnership which through its general partnership interest in Energy Transfer Partners, L.P., engages in the natural gas midstream, transportation, and storage in the United States, announced an increase to its quarterly distributions from $0.51 to $0.525 per unit. Energy Transfer Equity, L.P. has rewarded its unitholders with an uninterrupted streak of increased dividends since 2006. The partnership currently yields 8.10%

Valmont Industries, Inc. (VMI), which produces fabricated metal products; metal and concrete pole, and tower structures; and mechanized irrigation systems in the United States and internationally, announced a 15% increase in its quarterly distributions to $0.15 per share. Valmont Industries, Inc. has rewarded its shareholders with an uninterrupted streak of increased dividends since 2002. The stock currently yields only 0.90%

BOK Financial Corp. (BOKF), which provides various financial products and services to commercial and industrial customers, and other financial institutions and consumers in the United States, announced an increase in its quarterly dividends from $0.225 to $0.24 per share. BOK Financial Corp. has rewarded its shareholders with an uninterrupted streak of increased dividends since 2005. The stock currently yields only 2.40%

AmeriGas Partners, L.P. (APU), a master limited partnership operates as a retail propane distributor in the United States, boosted its quarterly distributions by 5% to $0.67 per unit. AmeriGas Propane, Inc., has rewarded its unitholders with an uninterrupted streak of increased dividends since 2005. The partnership currently yields 8.30%

UGI Corporation (UGI), engages in the distribution and marketing of energy products and related services in the United States and internationally, boosted its quarterly dividend payment by 4% to $0.20 per share. UGI Corporation is a dividend achiever, which has rewarded its shareholders with an uninterrupted streak of increased dividends for 22 years. The stock currently yields 3.40%

Boardwalk Pipeline Partners, LP (BWP), a master limited partnership which engages in the interstate transportation and storage of natural gas in the United States, boosted its quarterly distributions from $0.38 to $0.385 per unit. Boardwalk Pipeline Partners, LP has rewarded its unitholders with an uninterrupted streak of increased dividends since 2006. The partnership currently yields 9.30%

Alliance Resource Partners, L.P. (ARLP), a master limited partnership which engages in the production and marketing of coal for utilities and industrial users in the United States., announced an increase to its quarterly distributions from $0.715 to $0.73 per unit. Alliance Resource Partners, L.P. has rewarded its unitholders with an uninterrupted streak of increased dividends since 2000. The partnership currently yields 8.60%

It is certainly bullish to see companies such as Exxon Mobil continuing to reward stockholders with raised payouts. The company has paid out dividends every quarter since 1911. I would end this weeks dividend growth review with a quote from the founder of Exxon John D. Rockefeller:” Do you know the only thing that gives me pleasure? It's to see my dividends coming in.”

Full Disclosure: Long GWW

This post was featured on Carnival of Personal Finance #204

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