Monitoring dividend increases for stocks on my watch is one way to identify candidates for further analysis. Companies can only increase their dividends regularly if earnings grow sufficiently. This week, 11 companies on my watch list declared dividend increases, including 1 of the stocks I hold in my portfolio.
The following table provides a summary of these increases. The table is sorted by percentage increase, %Incr. Dividends are annualized and in US$, unless otherwise indicated. Yield is the new dividend yield for the market close Price on the date listed. Yrs are years of consecutive dividend increases, while 5-yr DGR is the compound annual growth rate of the dividend over a 5-year period. 1-yr %Incr is the percentage increase from the year-ago dividend. (Some companies increase their dividends more than once a year, so this puts the most recent dividend increase in context).
|Summary of Dividend Increases: April 18-22, 2016|
|Click to enlarge|
|Previous Post: 7 Dividend Increases: April 11-15, 2016|
• American Water Works (NYSE:AWK)
AWK is the largest publicly traded water and wastewater utility company in the United States, serving residential, commercial, industrial and other customers through its subsidiaries. The company is headquartered in Voorhees, New Jersey and was founded in 1886 as the American Water Works & Guarantee Company. The company has more than 6,700 employees. On Friday, April 22, the company increased its quarterly dividend by 10.29% to 37.5¢ per share. All shareholders of record on May 9 will receive the new dividend on June 1.
• Travelers Companies (NYSE:TRV)
TRV was founded in 1853 and is based in New York, New York. Through its subsidiaries, TRV provides various commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals primarily in the United States. The company increased its quarterly dividend by 9.84%, from 61¢ per share to 67¢ per share. The dividend is payable on June 30 to shareholders of record on June 10. The ex-dividend date is June 8.
• Heritage Financial Corp (NASDAQ:HFWA)
HFWA is a bank holding company incorporated in the State of Washington in August 1997. Its wholly owned subsidiary, Heritage Bank, is a full-service commercial bank providing financial solutions to small and medium-sized business in Washington and Oregon. On April 20, the board of directors approved an increase to the regular quarterly dividend from 11¢ per share to 12¢ per share, an increase of 9.09%. The dividend is payable May 19, with an ex-dividend date of May 3.
• Lazard Limited (NYSE:LAZ)
LAZ is a Bermuda-based holding company founded in 1848 in New Orleans. The company operates as a preeminent international financial advisory and asset management firm, serving corporations, governments, institutions, partnerships and high net-worth individuals in 41 cities across 26 countries. Recently, LAZ increased its quarterly dividend by 8.57% to 38¢ per share. The ex-dividend date is April 29 and the dividend will be paid on May 13 to shareholders of record on May 3.
• Sonoco Products Co (NYSE:SON)
SON manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company sells its products in various markets, including paper, textile, film, food, chemical, packaging, construction, and wire and cable. SON was founded in 1899 and is headquartered in Hartsville, South Carolina. The board of directors of SON has declared a quarterly dividend of 37¢ per share. The new dividend is 5.71% above the prior dividend of 35¢ per share. The dividend is payable on June 10 to shareholders of record on May 13.
• Tesoro Logistics LP (NYSE:TLLP)
TLLP is a limited partnership that owns, operates, develops and acquires crude oil and refined products logistics assets, primarily in the western and mid-continent regions of the United States. The Company's logistics assets are used to gather, transport and store crude oil and to distribute, transport and store refined products. TLLP was founded in 2010 and is headquartered in San Antonio, Texas. Recently, TLLP increased its quarterly distribution from 78¢ per unit to 81¢ per unit, an increase of 3.85%. The distribution is payable on May 13 to unitholders of record on May 2.
• Southern Company (NYSE:SO)
SO, along with its subsidiaries, operates as a public electric utility company. The company constructs, acquires, owns, and manages generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. SO was founded in 1945 and is headquartered in Atlanta, Geogia. The company increased its quarterly dividend by 3.23%, from 54.25¢ per share to 56¢ per share. The stock will trade ex-dividend on May 12, and shareholders can expect to receive the new dividend on June 6.
• Western Gas Partners LP (NYSE:WES)
WES is a master limited partnership that owns, operates, acquires and develops midstream energy assets. The company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids and crude oil. WES was founded in 2007 and is headquartered in The Woodlands, Texas. On Friday, April 22, the company increased its quarterly distribution by 1.87% to 81.5¢ per unit. All unitholders of record on May 2 will receive the new distribution on May 13.
• Holly Energy Partners LP (NYSE:HEP)
Founded in 2004, HEP operates petroleum product and crude pipelines, storage tanks, distribution terminals, and loading rack facilities located in Texas, New Mexico, Oklahoma, Arizona, Washington, Kansas, Wyoming, Idaho and Utah. The Company operates in West Texas, New Mexico, Utah, Nevada, Oklahoma, Wyoming, Kansas, Arizona, Idaho and Washington. HEP is based in Dallas, Texas. The company increased its quarterly distribution by 1.77%, from 56.5¢ per unit to 57.5¢ per unit. The distribution is payable on May 13 to unitholders of record on May 2. HEP will trade ex-dividend on April 28.
• Transmontaigne Partners LP (NYSE:TLP)
Founded in 2005 and headquartered in Denver, Colorado, TLP is a terminaling and transportation company with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the Southeast. The company offers its services to customers engaged in the trading, distribution, and marketing of light and heavy refined petroleum products, crude oil, chemicals, fertilizers, and other liquid products. The company increased its quarterly distribution by 1.49%, from 67¢ per unit to 68¢ per unit. The distribution is payable on May 9 to unitholders of record on April 29.
• People's United Financial (NASDAQ:PBCT)
PBCT is a savings and loan holding company. Founded in 1842 and headquartered in Bridgeport, Connecticut, the company provides commercial banking, retail banking, and wealth management services to individual, corporate, and municipal customers. PBCT also offers online banking, investment trading, and telephone banking services. It operates through a network of 396 branches and 594 ATMs in Connecticut, southeastern New York, Massachusetts, Vermont, New Hampshire, and Maine. On April 21, the company declared a dividend of 17¢ per share. The new dividend represents a 1.49% increase. The quarterly dividend will be paid on May 15 to shareholders of record on May 2. The ex-dividend date is April 27.
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 TRV.
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.