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One nice thing about compiling the Dividend Champions list (which can be found here) is that I get to see which companies are nearing the anniversaries of their previous dividend increases. Since most of these firms raise their payout about the same time every year, we can say with some confidence that they are likely to do so again.

Consequently, I'm expecting the following companies to announce dividend increases in the month of November. (Dates in parentheses are the ex-dividend dates of last year's increases).

  1. American States Water (NYSE:AWR) (11/10/09) AWR increased its quarterly dividend 4.00% last year, from 25¢ to 26¢ per share, marking the 55th straight year of increases.
  2. Gorman-Rupp Company (NYSEMKT:GRC) (11/10/09) Logging its 37th consecutive year of higher dividends, GRC increased its quarterly dividend by 5%, from 10¢ to 10.5¢ per share.
  3. Emerson Electric (NYSE:EMR) (11/11/09) EMR increased its payout for the 53rd straight year by boosting the quarterly dividend by 1.52%, from 33¢ to 33.5¢ per share.
  4. Middlesex Water Company (NASDAQ:MSEX) (11/11/09) This utility boosted its quarterly payout last year by 1.41%, from 17.75¢ to 18¢ per share. MSEX has paid higher dividends for 37 consecutive years.
  5. Vectren Corp. (NYSE:VVC) (11/11/09) By increasing its quarterly payout by 1.49%, from 46¢ to 47¢ per share, VVC marked its 50th straight year of higher dividends.
  6. Tennant Company (NYSE:TNC) (11/26/09) Tennant increased its quarterly dividend by 7.69%, from 13¢ to 14¢ per share, its 38th straight year of increases.

In addition to these six "Champions", five "Contenders" (10-24 years) would typically increase their dividends in November:

  1. 1st Source Corp. (NASDAQ:SRCE) (11/4/09) SRCE boosted its quarterly payout by 7.14%, from 14¢ to 15¢ per share, marking the 20th straight year of increases. This company has an odd habit of paying a lower amount in the first quarter, so it will have to increase the dividend by more than 2¢ per share in order to keep its streak intact.
  2. Beckman Coulter (NYSE:BEC) (11/5/09) BEC raised its quarterly dividend by 5.88%, from 17¢ to 18¢ per share, its 16th straight annual increase.
  3. StanCorp Financial Group (NYSE:SFG) (11/18/09) StanCorp hiked its annual dividend by 6.67%, from 75¢ to 80¢ per share, its 12th straight annual increase.
  4. Atmos Energy (NYSE:ATO) (11/23/09) Atmos boosted its quarterly payout by 1.52%, from 33¢ to 33.5¢ per share, marking its 22nd straight year of higher dividends.
  5. Universal Forest Products (NASDAQ:UFPI) (11/27/09) Universal increased its semi-annual dividend by 233.33%, from 6¢ to 20¢ per share, its 16th straight year of higher payouts.

There are also seven "Challengers" (5-9 years) that are likely to boost their payouts in November (and have not already done so, like some of their peers):

  1. Xilinx Inc. (NASDAQ:XLNX) (11/2/09) This tech firm increased its annual dividend to 64¢ per share last year, marking seven years of higher payouts.
  2. NuStar Energy LP (NYSE:NS) (11/3/09) This MLP (Master Limited Partnership) pays $4.26 per share annually, after 9 years of increases. A tenth straight increase would promote it to Contender status.
  3. Span-America Medical Systems (NASDAQ:SPAN) (11/18/09) This company increased its annual dividend to 40¢ per share last year, marking eight years of higher payouts.
  4. AmerisourceBergen Corp. (NYSE:ABC) (11/19/09) This medical company pays 32¢ per share annually, following its 5th year of increases.
  5. Strayer Education (NASDAQ:STRA) (11/20/09) This private college firm increased its annual dividend to $3.00 per share last year, marking five straight years of higher payouts.
  6. Perrigo Company (NYSE:PRGO) (11/24/09) Perrigo pays 25¢ per share annually, following its 7th year of increases.
  7. Aaron's Inc. (NYSE:AAN) (11/27/09) This rental company pays just 5¢ per share annually, following its 5th year of increases.

Obviously, not all of these companies meet the strict yield or percentage increase standards of some investors (although I expect larger increases this year than some of the stingy ones cited above), but they may be appropriate for portfolio diversification. As always, potential investors should do more due diligence before committing funds.

Disclosure: Author owns EMR and TNC.

Source: 18 Companies Likely to Boost Dividends in November