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Though we have seen the markets rise over the last few months, and many investors/traders calling for a market correction somewhere near here, these four companies have been passing on profits through dividends to shareholders while growing their businesses.

These stocks still look cheap by their EV/EBITDA ratio of under 6 and low P/E multiples under 10.

Earnings and book value have both increased at double digit rates over the last five years. Two of these companies have tripled off their market lows but still look cheap.

Company Symbol Yield Price as of 9/7/2009 P/E EPS Gwth (5yr Hist) Earnings Yield (EPS/Price Per Sh) Book Value Gwth(5yr Avg) Cash Flow Gwth (Cur vs.Prior TTM
Apogee Enterprises APOG 2.2% $14.69 8.6 60.60% 11.9% 13.2% 28%
Innophos Holdings IPHS 3.4% $19.80 2.4 81% 43% 32.2% 39%
Safety Insurance SAFT 4.75% $33.68 9.5 18.5% 10.6% 16.1% 20.3%
Tidewater TDW 2.2% $45.05 6.4 61% 15.8% 12.6% 30.6%


Below, excerpts from each company's description of their services:

Apogee (NASDAQ:APOG) transforms plain glass to create distinctive solutions for
architects, building owners, contractors, picture framers and others. Our glass and aluminum window,store front and curtainwall
systems make commercial buildings look great, reduce energy consumption and protect against hurricanes and blasts. Apogee's glass also reduces fading and reflection for picture framing customers. We combine the expertise of our people to engineer glass and metal building façades, complete massive orders for skyscrapers on time, and manage complex window, curtainwall and storefront installation projects. We also provide glass that makes framed art and pictures look better, while helping framers improve profitability. Leaders in our markets, Apogee leverages the strengths of our products and people to deliver distinctive solutions.


*Here's what The Fools say A Top-rated building products companies



Innophos (NASDAQ:IPHS) is a

leading producer of specialty grade

phosphate products for the Food, Pharmaceutical and Industrial market segments. Within these segments our products cover a broad range of applications including water, paper and metal treatment, agriculture, electronics, textiles, tablets, meat

preservation and detergents. For example, specialty phosphates act as flavor enhancers in beverages, leavening agents in baked goods and cleaning agents in toothpaste. With over a century of experience, Innophos and its predecessor companies have pioneered the processes whereby complex phosphates are derived from organic phosphate rock. Our products are produced to the highest standards of quality and consistency with most of our global production facilities operating to ISO 9002 and GMP accreditation. We also hold a number of key patents governing the manufacture and use of phosphates and continue to develop new and innovative phosphate based products to address specific customer applications.


*A Magic Formula Stock with a 5 Star Rating From The Fool





Safety Insurance (NASDAQ:SAFT) is a leading provider of private passenger automobile insurance in Massachusetts. In addition to private passenger automobile insurance (which represented 71.7% of their direct written premiums in 2008), they offer a portfolio of property and casualty insurance products, including commercial automobile (13.2% of 2008 direct written premium), homeowners (11.6% of 2008 direct written premium), dwelling fire, umbrella and business owner policies. Operating primarily in Massachusetts through their insurance subsidiaries, Safety Insurance Company, Safety Indemnity Insurance Company, and Safety Property and Casualty Insurance Company,
they have established strong relationships with 827 independent insurance
agents in 969 locations throughout Massachusetts.




Tidewater (NYSE:TDW) through its subsidiaries, provides offshore supply vessels and marine support services to the offshore energy industry through the operation of fleet of offshore marine service vessels. It offers services to support various phases of offshore exploration, development, and production, including towing of and anchor handling of mobile drilling rigs and equipment; transporting supplies and personnel; and assisting in offshore construction activities.



Disclosure: Author long APOG

Source: 4 Companies Whose Businesses and Dividends Keep Growing