Sunday, May 9, 2021

Eleven Dividend Growth Stocks Rewarding Shareholders With A Raise

I review the list of dividend increases as part of my monitoring process. This is helpful in evaluating how my investments are doing. I review the dividend increase announcements, along with their corresponding press releases. The list of dividend increases is also helpful in identifying quality companies for further research. It is also helpful in observing companies act during a crisis. The companies with robust business models are able to weather the crisis relatively well, and are able to maintain and even increase dividends

There were several companies that bucked the trend of dividend cuts, and actually raised dividends to shareholders. Just as usual, I focus my review only on those companies that raised dividends last week, which also have at least a ten-year history of annual dividend increases.

FactSet Research Systems Inc. (FDS) provides integrated financial information and analytical applications to the investment and corporate communities in the Americas, EMEA, and the Asia Pacific.

The company raised its quarterly dividend by 6.50% to 82 cents/share. This increase marks the twenty-second consecutive year the Company has increased dividends, demonstrating its ongoing commitment to bring value to shareholders. During the past decade, the company has managed to increase dividends at an annualized rate of 13%.

The company is expected to earn $11.15/share in 2021.

The stock is selling for 30.24 times forward earnings and yields 0.97%.

Leggett & Platt Incorporated (LEG) designs, manufactures, and markets engineered components and products worldwide.

The company raised its quarterly dividend by 5% to 42 cents/share. This marked the 50th consecutive annual dividend increase for this newly minted dividend king. During the past decade, the company has managed to increase dividends at an annualized rate of 4.30%.

"We are also very pleased to be increasing our dividend for the 50th consecutive year, honoring our ongoing commitment to return value to our shareholders. As a result of this commitment over many decades, next year we will become a member of a select group of companies referred to as Dividend Kings.

The company is expected to earn $2.72/share in 2021.

The stock is selling for 21.13 forward earnings and yields 2.92%.

MSA Safety Incorporated (MSA) develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, industrial manufacturing applications, utilities, military, and mining industries in North America, Latin America, and internationally.

The company raised its quarterly dividend by 2.30% to 44 cents/share. MSA is a newly minted dividend king which has increased its dividend annually for more than 50 consecutive years.  During the past decade, the company has managed to increase dividends at an annualized rate of 5.60%.  

The company is expected to earn $4.69/share in 2021.

The stock is selling for 35.26 times forward earnings and yields 1.06%.

Pool Corporation (POOL) distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. 

The company raised its quarterly dividend by 37.90% to 80 cents/share. This was the eleventh year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 16%.

The company is expected to earn $12.36/share in 2021.

The stock is selling for 35.91 times forward earnings and yields 0.72%.

UGI Corporation (UGI) distributes, stores, transports, and markets energy products and related services in the United States and internationally.

The company raised its quarterly dividend by 4.50% to 34.50 cents/share.

This was the 34th Consecutive Year of Annual Dividend Increases for this dividend champion. During the past decade, the company has managed to increase dividends at an annualized rate of 8.10%.

The company is expected to earn $2.98/share.

The stock sells for 15.33 times forward earnings and yields 3.02%.

Algonquin Power & Utilities Corp. (AQN) owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada, the United States, Chile, and Bermuda.

The company raised its quarterly dividend by 10% to 17.06 cents/share. This marked the 13th year of annual dividend increases for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 11.80%.

The stock sells for 11.60 times earnings and yields 4.29%.

RLI Corp. (RLI) is an insurance holding company, underwrites property and casualty insurance in the United States and internationally.

RLI raised its quarterly dividend by 4.20% to 25 cents/share. RLI is a dividend champion which has increased dividends in each of the last 46 years. Over the past decade, the company has managed to grow dividends at an annualized rate of 5.20%.

The stock sells for 37.26 times forward earnings and yields 0.88%.

ManpowerGroup Inc. (MAN) provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region.

Manpower raised its semi-annual dividend by 7.70% to $1.26/share. This was the eleventh year of annual dividend increases for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 11.80%.

The company is expected to earn $6.20/share in 2021. 

The stock sells for 19.80 times forward earnings and yields 2.05%.


Expeditors International of Washington, Inc. (EXPD) provides logistics services in the Americas, North Asia, South Asia, Europe, the Middle East, Africa, and India.

The company raised its semi-annual dividend by 11.50% to 58 cents/share. This was the 27th year of annual dividend increases for this dividend aristocrat. Over the past decade, the company has managed to grow dividends at an annualized rate of 10%.

The stock sells for 19.99 times forward earnings and yields 0.98%.

Cardinal Health, Inc. (CAH) operates as an integrated healthcare services and products company in the United States and internationally.

Cardinal Health raised its quarterly dividends by 1% to 49.08 cents/share. This was the 25th year of consecutive annual dividend increases for this dividend aristocrat. While it has a ten year annualized dividend growth rate of 10.10%, the dividend growth has slowed down in recent years to about 1%/year.

The company is expected to earn $5.99/share in 2021.

The stock is selling for 9.70 times forward earnings and yields 3.38%.

Microchip Technology Incorporated (MCHP) develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia.

Microchip Technology raised its quarterly dividend by 5.90% to 41.30 cents/share. This is the 21st consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has only increase dividends at an annualized rate of 0.70%.

The company is expected to earn $7.85/share in 2021.

The stock sells for 19.09 times forward earnings and yields 1.10%.

Relevant Articles:

Relevant Articles:

Eight Dividend Growth Stocks Rewarding Shareholders With A Raise

Seven Dividend Growth Stocks Raising Distributions to Shareholders Last Week

Six Reliable Dividend Growth Stocks Rewarding Shareholders With Raises

13 Dividend Growth Stocks Raising Shareholder Distributions

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