Last week S&P 500 had its largest weekly increase since 1974. Most investors are wondering if the bottom is in after the broad US index average bounced off its 11 year lows it had reached a week earlier. It was a week where Bloomberg reported stock dividends disappearing at the fastest rate since 1950s. According to the article the recession and global credit crunch are reducing profits for the fifth straight quarter and leaving less spare cash for quarterly payments to shareholders.
Not all companies are conserving cash however; there were several dividend increases which reiterate my opinion that the dividend cuts might not spread to the non-financial sector.
South Jersey Industries (SJI), an energy services holding company for utility and non-regulated businesses, announced that its Board has approved a 10% increase in its quarterly dividend to $0.2975 per common share. An increase of this size represents a strong statement by SJI's board and management regarding the current health and future prospects of the company. South Jersey Industries is a dividend achiever which has increased its dividends for over ten years. The stock currently yields 3.10%.
United Bankshares, Inc. (UBSI), announced that its Board has approved a 3% increase in its quarterly dividend $0.29 per common share. United Bankshares is a dividend champion which has increased its dividends for over thirty five years. The stock currently yields 3.40%.
Hormel Foods Corporation (HRL), which is engaged in the production and marketing of meat and food products, announced that its Board has approved an increase in its quarterly dividend from $0.74 to $0.76 per common share. Hormel Foods Corporation is a dividend champion which has increased its dividends for over forty-three years. The stock currently yields 2.80%.
Becton, Dickinson and Company (BDX), a medical technology company, announced that its Board has approved a 15.80% increase in its quarterly dividend from $0.285 to $0.33 per common share. Becton, Dickinson and Company is a dividend aristocrat which has increased its dividends for over thirty-six years. The stock currently yields 2.10%.
McCormick & Company (MKC),a diversified global technology company, announced that its Board has approved a 9% increase in its quarterly dividend from $0.22 to $0.24 per common share. McCormick & Company is a dividend achiever which has increased its dividends for over fifteen consecutive years. The stock currently yields 3.20%.
The York Water Company's (YORW), which engages in impounding, purifying, and distributing water, announced that its Board has approved a 4.10% increase in its quarterly dividend from $0.121 to $0.126 per common share. The York Water Company has increased its dividends for over twelve years. The company is the oldest investor owned utility in the USA, having paid dividends every year since 1816. The stock currently yields 4.50%.
Of all these stocks MKC, BDX, SJI, HRL look promising enough to add them to my watchlist for further analysis.
Relevant Articles:
- Seven notable dividend increases
- Why should companies pay out dividends?
- Zecco Online Discount Stock Brokerage Review
- Dividend ETF’s for busy investors
Popular Posts
-
As part of my monitoring process, I review the list of dividend increases every week. I usually focus on companies that have managed to b...
-
I review the list of dividend increases every single week, as part of my monitoring process. This process helps me check the pulse of the di...
-
Dividend Growth Companies are businesses that have managed to increase annual dividends for several years in a row. Typically, established d...
-
Breaking down the total returns by source, helps you understand perfectly how total returns are generated Total Returns are a function of: 1...
-
I review the list of dividend increases every week as part of my review process. There were 35 dividend increases over the past week. Six of...
-
I review the list of dividend increases every single week, as part of my monitoring process. This exercise helps me to monitor existing hold...
-
The NASDAQ US Broad Dividend Achievers Select Index is comprised of a select group of securities with at least ten consecutive years of incr...
-
I review the list of dividend increases every week as part of my monitoring process. This exercise helps me review existing holdings quickly...
-
In my investing, look for businesses I can understand that have some sort of a competitive advantage that translates into consistent earn...
-
I review the list of dividend increases every week, as part of my monitoring process. This exercise helps me monitor existing companies, and...
