Monitoring dividend increases for stocks on my watch is one way to identify candidates for further analysis. Companies that regularly raise dividends show confidence in the potential growth of future earnings. In the past week, 13 companies on my watch list announced dividend increases, including 2 of the stocks I own. 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 is 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: August 1-5, 2016|
|Click to enlarge|
|Previous Post: 21 Dividend Increases: July 25-29, 2016|
• Illinois Tool Works (NYSE:ITW)
Founded in 1912 and headquartered in Glenview, Illinois, ITW manufactures and sells industrial products and equipment worldwide. The company operates approximately 90 divisions in 57 countries. In 2014, revenues totaled $14.5 billion. ITW distributes its products directly to industrial manufacturers, as well as through independent distributors. On Friday, August 5, ITW increased its quarterly dividend to 65¢ per share, an increase of 18.18%. The quarterly dividend will be paid on October 6 to shareholders of record on September 30. The ex-dividend date is September 28.
• Carlisle Companies (NYSE:CSL)
Founded in 1917 and headquartered in Charlotte, North Carolina, CSL operates as a diversified manufacturing company in the United States and internationally. CSL designs, manufactures and markets a range of products for various niche markets, including commercial roofing, energy, agriculture, mining, construction, aerospace and defense electronics, medical technology, transportation and healthcare. On Thursday, August 4, CSL increased its quarterly dividend to 35¢ per share, an increase of 16.67%. The new dividend is payable on September 1 to shareholders of record on August 18, with an ex-dividend date of August 16.
• International Flavors & Fragrances (NYSE:IFF)
IFF creates, manufactures and supplies flavors and fragrances for the food, beverage, personal care and household products industries either in the form of compounds or individual ingredients. The company has more than 6,200 employees working in 32 countries worldwide. IFF was founded in 1833 and is headquartered in New York, New York. The board of directors of IFF has declared a quarterly dividend of 64¢ per share. The new dividend is 14.29% above the prior dividend of 56.¢ per share. All shareholders of record on September 26 can expect the dividend to be paid on October 6.
• AmTrust Financial Services, Inc. (NASDAQ:AFSI)
AFSI, a multinational insurance holding company headquartered in New York, NY, offers specialty property and casualty insurance products, including workers' compensation, commercial automobile, general liability and extended service and warranty coverage through its primary insurance subsidiaries. AFSI was founded in 1998 and is based in New York, New York. On August 2, the board of directors approved an increase to the regular quarterly dividend from 15¢ per share to 17¢ per share, an increase of 13.33%. The dividend is payable on October 19 to shareholders of record on October 5.
• Resources Connection, Inc. (NASDAQ:RECN)
Headquartered in Irvine, California, RECN is a multinational professional services firm providing consulting and business initiative support services in North America, Europe and the Asia Pacific. Founded in 1996, today RECN has 3,400 professionals serving 1,700 clients from 68 practice offices. The company declared a quarterly dividend of 11¢ per share, an increase of 10.00% over the prior quarterly dividend. The ex-dividend date is August 22 and the dividend will be paid on September 21 to shareholders of record on August 24.
• Chemed Corporation (NYSE:CHE)
CHE provides hospice and palliative care services to its patients through a network of physicians, registered nurses, home health aides, social workers, clergy and volunteers. The company also provides plumbing, drain cleaning, water restoration and related services to residential and commercial customers. CHE was founded in 1970 and is based in Cincinnati, Ohio. On August 5, the board of directors declared a quarterly dividend of 26¢ per share. The new dividend represents an increase of 8.33%. The new dividend is payable on September 2 to shareholders of record on August 15, with an ex-dividend date of August 11.
• Aqua America, Inc. (NYSE:WTR)
WTR is a holding company founded in 1968 as Philadelphia Suburban Corporation. The company, through its subsidiaries, provides water or wastewater services in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana and Virginia. The company serves 3 million residential water, commercial water, fire protection, industrial water, wastewater, and other water and utility customers. WTR is based in Bryn Mawr, Pennsylvania. Recently, WTR increased its quarterly dividend to 19.13¢ per share, an increase of 6.28% over the prior dividend of 18¢ per share. The new dividend is payable on September 1 to shareholders of record on August 18. The ex-dividend date will be August 16.
• General Growth Properties (NYSE:GGP)
GGP is a self-administered and self-managed real estate investment trust (REIT). The company operates, manages, develops and acquires high quality retail and other rental properties, including shopping centers, throughout the United States. GGP is based in Chicago, Illinois. GGP will pay a quarterly dividend of 20¢ per share, an increase of 5.26% over the previous quarterly dividend. The dividend is payable on October 31 to shareholders of record at the close of business on October 14.
• Hawkins, Inc. (NASDAQ:HWKN)
HWKN blends, manufactures and distributes chemicals and specialty ingredients for customers in various industries. The company conducts its business in three segments - Industrial, Water Treatment, and Health and Nutrition. HWKN was founded in 1938 and is based in Roseville, Minnesota. On August 4, the board of directors declared a semi-annual dividend of 42¢ per share. The new dividend represents an increase of 5.00%. HWKN will trade ex-dividend on September 21. The dividend is payable on October 7, to shareholders of record on September 23.
• Macquarie Infrastructure Corp (NYSE:MIC)
MIC owns, operates and invests in a diversified portfolio of infrastructure businesses that provides basic services, facilities and technology to businesses and individuals in the United States. MIC's businesses consist of bulk liquid terminals, an airport services business, a gas processing and distribution business, and a portfolio of contracted power and energy investments. MIC was founded in 2004 and is based in New York, New York. The company announced a quarterly DIV increase of 4.17% to $1.25 per share. The dividend is payable on August 16 to shareholders of record on August 11. MIC will trade ex-dividend on August 9.
• j2 Global, Inc. (NASDAQ:JCOM)
JCOM provides internet services worldwide. The company offers cloud services to customers of all sizes, from individuals to enterprises, and licenses its intellectual property to third parties. It also offers technology, gaming and lifestyle content through digital properties, including PCMag.com, IGN.com, AskMen.com, Toolbox.com and others. Through the business operations of Ziff Davis B2B, JCOM provides research to enterprise buyers and leads to IT vendors. JCOM was founded in 1995 and is headquartered in Los Angeles, California. JCOM will pay a quarterly dividend of 34.5¢ per share, an increase of 2.99% over the previous quarterly dividend. The dividend is payable on September 1 to shareholders of record at the close of business on August 17.
• Main Street Capital (NYSE:MAIN)
MAIN is a principal investment firm that provides customized debt and equity financing to lower middle market companies and debt capital to middle market companies. The Company invests primarily in secured debt investments, equity investments, warrants and other securities of companies based in the United States. MAIN was founded in 1997 and is based in Houston, Texas. The company increased its monthly dividend by 2.78%, from 18¢ per share to 18.5¢ per share. All shareholders of record on September 21 will receive the new dividend on October 14.
• Spectra Energy Partners, LP (NYSE:SEP)
Based in Houston, Texas, SEP is a master limited partnership formed by Spectra Energy Corporation (NYSE:SE). SEP is one of the largest pipeline MLPs in the United States. It is engaged in the transmission, storage and gathering of natural gas, the transportation and storage of crude oil, and the transportation of natural gas liquids in the central, southern and eastern United States, as well as western Canada. The company declared a quarterly distribution of 66.375¢ per unit, an increase of 1.92% over the prior quarterly distribution. All unitholders of record on August 15 can expect the distribution to be paid on August 26.
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 MAIN, MIC.
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.