I monitor dividend increases for stocks on my watch list of dividend growth stocks to identify candidates for further analysis. Companies that regularly increase dividends show confidence in future earnings growth potential.
In the past week, 6 of the companies on my watch list announced dividend increases. The table below presents a summary of these increases.
The table is sorted by last column, %Incr. Dividends are annualized and in US$, unless otherwise indicated. Yield indicates the new dividend yield for the market close Price in US$ on the date listed. Yrs are years of consecutive dividend increases, while 5-year DGR is the compound annual growth rate of the dividend over a five-year period.
Dividend Increases: March 21-March 25, 2016
Previous Post: 8 Dividend Increases, March 14 To March 21, 2016
• Piedmont Natural Gas (NYSE:PNY)
Dividend Champion PNY is an energy and services company engaged in the transportation and sale of natural gas, which it distributes through transmission pipelines and distribution mains. The company also sells propane to residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. PNY was founded in 1949 and is headquartered in Charlotte, North Carolina. Recently, PNY increased its quarterly dividend from 33¢ per share to 34¢ per share, an increase of 3.03%. The dividend is payable on 15 April, to shareholders of record on 29 March.
• Bank of Nova Scotia (NYSE:BNS)
Founded in 1832 and headquartered in Halifax, Canada, BNS is one of North America's premier financial institutions. The bank offers personal, commercial, corporate and investment banking to more than 21 million customers in more than 55 countries around the world. BNS operates in four business lines, namely Domestic Banking, Wealth Management, International Banking and Scotia Capital. BNS will pay a quarterly dividend of 72¢ per share on 27 April to shareholders of record on 5 April.
• Realty Income Corp (NYSE:O)
Known as The Monthly Dividend Company®, O is an equity real estate investment trust dedicated to providing shareholders with dependable monthly income. The company earns income from nearly 4,500 properties owned under long-term lease agreements with regional and national retail chains and other commercial tenants. Realty Income Corporation was founded in 1969 and is based in Escondido, California. On Monday, 21 March, O increased its dividend to 19.9¢ per share. The dividend is payable on 15 April to shareholders of record on 1 April.
• WP Carey Inc (NYSE:WPC)
Founded in 1973 and based in New York, WPC is an independent equity REIT (real estate investment trust) engaged in providing long-term sale-leaseback and build-to-suit financing for companies. WPC primarily invests in commercial properties that are generally triple-net leased to single corporate tenants including office, warehouse, industrial, logistics, retail, hotel, R&D, and self-storage properties. On Monday, 21 March, WPC increased its quarterly dividend to 97.42¢ per share. The dividend is payable on 15 April to shareholders of record on 31 March.
• Steelcase Inc (NYSE:SCS)
SCS was founded in 1912 and is headquartered in Grand Rapids, Michigan. The company designs, manufactures, and distributes an integrated portfolio of furniture settings, user-centered technologies, and interior architectural products. SCS markets its products to corporate, government, healthcare, and retail customers in the United States and Internationally. Revenue in fiscal 2015 totaled $3.1 billion. The company declared a quarterly dividend of 12¢ per share, an increase of 6.67% over the prior quarterly dividend. The dividend is payable 14 April to shareholders of record on 4 April.
• Raytheon Company (NYSE:RTN)
Established in 1922 as the American Appliance Company, today RTN is a leading U.S. military contractor, specializing in defense, security and civil markets throughout the world. The company provides state-of-the-art electronics, mission systems integration, cyber security systems, and communications and intelligence systems. It also provides business and special mission aircraft. RTN is headquartered in Waltham, Massachusetts. The company announced a quarterly dividend increase of 9.33% to 73.25¢ per share, payable on 12 May to shareholders of record on 6 April.
Please note that I'm not recommending any of these stocks. Readers should do their own research on these companies before buying shares.
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Disclosure: I am/we are long WPC, O.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.