I review the list of dividend increases every week, as part of my monitoring process.This exercise helps me stay in touch with changes in the dividend growth investing universe. It's helpful to see how companies are performing in real time. The most recent dividend increases provide a good signaling mechanism for my monitoring process of various businesses. This is a helpful step in monitoring existing companies and potentially uncovering companies for further research.
This exercise also summarizes the key factors I look at the business level, before determining if I want to dive further into a company.
Over the past week, there were 17 companies that raised dividends. Eleven of these companies have managed to raise dividends for at least a decade. The companies include:
Altria Group, Inc. (MO) manufactures and sells smokeable and oral tobacco products in the United States.
The company raised its quarterly dividend by 3.92% to $1.06/share. This is the 56th consecutive annual dividend increase for this dividend king. Over the past five years, the company has managed to grow dividends at an annualized rate of 3.84%.
The company managed to grow earnings from $2.67/share in 2015 to $6.54/share in 2024. The company is expected to earn $5.44/share in 2025.
The stock trades at 12.44 times forward earnings and yields 6.27%.
American Financial Group, Inc. (AFG) is an insurance holding company, provides specialty property and casualty insurance products in the United States.
The company raised its quarterly dividend by 10% to $0.88/share. This is the 20th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 12.17%.
The company managed to grow earnings from $4.02/share in 2015 to $10.57/share in 2024. The company is expected to earn $9.44/share in 2025.
The stock trades at 14.26 times forward earnings and yields 2.61%.
Avnet, Inc. (AVT) distributes electronic component technology in the Americas, Europe, the Middle East, Africa, and Asia/Pacific. It operates through two segments, Electronic Components and Farnell.
The company raised its quarterly dividend by 6.06% to $0.35/share. This is the 13th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 9.31%.
The company's earnings went from $3.87/share in 2015 to $2.78/share in 2024. The company is expected to earn $4.57/share in 2025.
The stock trades at 12.17 times forward earnings and yields 2.52%.
Dillard's, Inc. (DDS) operates retail department stores in the southeastern, southwestern, and midwestern areas of the United States.
The company raised its quarterly dividend by 20% to $0.30/share. This is the 15th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 17.32%.
The company managed to grow earnings from $6.91/share in 2015 to $36.82/share in 2024. The company is expected to earn $30.07/share in 2025.
The stock trades at 17.75 times forward earnings and yields 0.22%.
Popular, Inc. (BPOP) provides various retail, mortgage, and commercial banking products and services in Puerto Rico, the United States, and the British Virgin Islands.
The company raised its quarterly dividend by 7.14% to $0.75/share. This is the 11th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 15.63%.
The company's earnings went from $8.66/share in 2015 to $8.56/share in 2024. The company is expected to earn $11.35/share in 2025.
The stock trades at 10.75 times forward earnings and yields 2.46%.
EastGroup Properties, Inc. (EGP) is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in high-growth markets throughout the United States with an emphasis in the states of Texas, Florida, California, Arizona and North Carolina.
The company raised its quarterly dividend by 10.71% to $1.55/share. This is the 14th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 12.35%.
The company managed to grow FFO from $3.67/share in 2015 to $8.35/share in 2024. The company is expected to earn $8.96/share in 2025.
The stock trades at 18.90 times forward FFO and yields 3.66%.
Intuit Inc. (INTU) provides financial management, compliance, and marketing products and services in the United States. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.
The company raised its quarterly dividend by 15.40% to $1.20/share. This is the 14th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 14.03%.
The company managed to grow earnings from $3.74/share in 2015 to $13.82/share in 2024. The company is expected to earn $23.02/share in 2025.
The stock trades at 28.78 times forward earnings and yields 0.72%.
MGE Energy, Inc. (MGEE) operates as a public utility holding company in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments.
The company raised its quarterly dividend by 5.56% to $0.475/share. This is the 50th consecutive annual dividend increase for this newly minted dividend king. Over the past five years, the company has managed to grow dividends at an annualized rate of 4.93%.
The company managed to grow earnings from $2.06/share in 2015 to $3.33/share in 2024. The company is expected to earn $3.65/share in 2025.
The stock trades at 24.06 times forward earnings and yields 2.17%.
Stock Yards Bancorp, Inc. (SYBT) operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T.
The company raised its quarterly dividend by 3.23% to $1.20/share. This is the 16th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 3.24%.
The company managed to grow earnings from $1.68/share in 2015 to $3.91/share in 2024. The company is expected to earn $4.61/share in 2025.
The stock trades at 17.71 times forward earnings and yields 1.57%.
United Bancorp, Inc. (UBCP) operates as the bank holding company for Unified Bank that provides commercial and retail banking services in Ohio.
The company raised its quarterly dividend by 1.35% to $0.1875/share. This is the 13th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 5.28%.
The company managed to grow earnings from $0.65/share in 2015 to $1.27/share in 2024. The company is expected to earn $1.32/share in 2025.
The stock trades at 10.87 times forward earnings and yields 5.23%.
Unity Bancorp, Inc. (UNTY) operates as the bank holding company for Unity Bank that provides commercial and retail banking services.
The company raised its quarterly dividend by 7.14% to $0.15/share. This is the 14th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 10.90%.
The company managed to grow earnings from $1.03/share in 2015 to $4.13/share in 2024. The company is expected to earn $5.32/share in 2025.
The stock trades at 9.81 times forward earnings and yields 1.15%.
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