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In compiling the Dividend Champions list 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, I can say with some confidence that they are likely to do so again. Based on last year's announcements, I'm expecting the following companies to announce dividend increases in the month of February:

Dividend Champions (25 or more years):

No.

12/31

Qtrly

%

LY

Company

Symbol

Yrs

Price

Yield

Rate

Inc.

Ex-Div

3M Company

MMM

52

86.30

2.43

0.5250

2.94

2/17/10

Archer Daniels Midland

ADM

35

30.08

1.99

0.1500

7.14

2/16/10

Bemis Company

BMS

27

32.66

2.82

0.2300

2.22

2/11/10

Black Hills Corp.

BKH

40

30.00

4.80

0.3600

1.41

2/10/10

California Water Service

CWT

43

37.27

3.19

0.2975

0.85

2/8/10

Consolidated Edison

ED

36

49.57

4.80

0.5950

0.85

2/15/10

Diebold Inc.

DBD

57

32.05

3.37

0.2700

3.85

2/18/10

Energen Corp.

EGN

28

48.26

1.08

0.1300

4.00

2/10/10

Pitney Bowes Inc.

PBI

28

24.18

6.04

0.3650

1.39

2/17/10

Sherwin-Williams Co.

SHW

32

83.75

1.72

0.3600

1.41

2/24/10

Sigma-Aldrich Corp.

SIAL

34

66.56

0.96

0.1600

10.34

2/25/10

SJW Corp.

SJW

43

26.47

2.57

0.1700

3.03

2/4/10


Dividend Contenders (10-24 years):

No.

12/31

Qtrly

%

LY

Company

Symbol

Yrs

Price

Yield

Rate

Inc.

Ex-Div

Avon Products Inc.

AVP

21

29.06

3.03

0.2200

4.76

2/19/10

HCP Inc.

HCP

24

36.79

5.06

0.4650

1.09

2/9/10

Jack Henry & Associates

JKHY

18

29.15

1.30

0.0950

11.76

2/22/10

Meredith Corp.

MDP

17

34.65

2.66

0.2300

2.22

2/24/10

NextEra Energy

NEE

16

51.99

3.85

0.5000

5.82

2/24/10

Northeast Utilities

NU

12

31.88

3.22

0.2563

7.89

2/25/10

Nu Skin Enterprises Inc.

NUS

10

30.26

1.65

0.1250

8.70

2/24/10

Ross Stores Inc.

ROST

16

63.25

1.01

0.1600

45.45

2/17/10

Teva Pharmaceutical

TEVA

11

52.13

1.43

0.1860

17.72

2/19/10

Unisource Energy Corp.

UNS

11

35.84

4.35

0.3900

34.48

2/19/10

United Technologies

UTX

16

78.72

2.16

0.4250

10.39

2/17/10

Westamerica Bancorp

WABC

19

55.47

2.60

0.3600

2.86

2/4/10


Dividend Challengers (5-9 years):

No.

12/31

Qtrly

%

LY

Company

Symbol

Yrs

Price

Yield

Rate

Inc.

Ex-Div

AGL Resources

AGL

8

35.85

4.91

0.4400

2.33

2/17/10

Avista Corp.

AVA

8

22.52

4.44

0.2500

19.05

2/23/10

CenterPoint Energy

CNP

5

15.72

4.96

0.1950

2.63

2/11/10

Compass Minerals Int'l

CMP

7

89.27

1.75

0.3900

9.86

2/25/10

Energy Transfer Equity LP

ETE

5

39.07

5.53

0.5400

0.93

2/4/10

Heritage Financial Group

HBOS

6

12.42

2.90

0.0900

12.50

2/3/10

JB Hunt Transport

JBHT

7

40.81

1.18

0.1200

9.09

2/10/10

L-3 Communications

LLL

7

70.49

2.27

0.4000

14.29

2/25/10

Landmark Bancorp Inc.

LARK

9

16.92

4.49

0.1900

5.00

2/22/10

National Instruments

NATI

8

37.64

1.38

0.1300

8.33

2/4/10

National Interstate Corp.

NATL

6

21.41

1.49

0.0800

14.29

2/25/10

Pall Corp.

PLL

6

49.58

1.29

0.1600

10.34

2/5/10

Robert Half International

RHI

7

30.60

1.70

0.1300

8.33

2/23/10

Rollins Inc.

ROL

8

19.75

1.22

0.0600

28.57

2/8/10

Wisconsin Energy

WEC

7

58.86

2.72

0.4000

18.52

2/10/10

Notably, next month's expected increases include the company with the longest current streak (Diebold), the next company poised to graduate from Contender to Champions status (HCP Inc.), and the next company likely to graduate from Challenger to Contender status (Landmark Bancorp). Not all of these companies will meet the strict standards of some investors, but they may be appropriate for portfolio diversification. As always, potential investors should do more research before committing funds.

Disclosure: I am long MMM, BMS, AVP, NEE, UTX.

Source: 39 Companies Expected to Raise Their Dividends in February