I monitor dividend increases for stocks on my watch list of dividend growth stocks to identify candidates for further analysis. Companies that regularly raise their dividends show confidence in the potential growth of future earnings. In the last week, 15 companies on my watch list decided to increase their dividends. The table below presents 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: October 17-21, 2016|
|Click to enlarge|
|Previous Post: 7 Dividend Increases: October 10-14, 2016|
• Cintas Corp. (NASDAQ:CTAS)
Headquartered in Cincinnati, Ohio, CTAS provides corporate identity uniforms and specialized business services in North America, Latin America, Europe, and Asia. The company offers its products and services through a distribution network and local delivery routes, or through local representatives, to small service and manufacturing companies, as well as to corporations. CTAS was founded in 1968. On October 18, the board of directors approved an increase to the regular annual dividend from $1.05 per share to $1.33 per share, an increase of 26.67%. The dividend is payable on December 2 to shareholders of record on November 4. The ex-dividend date is November 2.
• Huntington Bancshares Inc. (NASDAQ:HBAN)
HBAN is a diversified regional bank holding company. Through its subsidiaries, HBAN provides commercial, small business, consumer, and mortgage banking services, as well as automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services. HBAN was founded in 1866 and is headquartered in Columbus, Ohio. The company increased its quarterly dividend by 14.29%, from 7¢ per share to 8¢ per share. The dividend is payable on January 2 to shareholders of record on December 20.
• Sensient Technologies Corp. (NYSE:SXT)
Founded in 1882 and headquartered in Milwaukee, Wisconsin, SXT manufactures and markets colors, flavors and fragrances in the United States and internationally. SXT uses technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, specialty inks and colors, and other specialty and fine chemicals. Specialty inks and colors, and specialty dyes and pigments. Recently, the board of directors of SXT declared a quarterly dividend of 30¢ per share. The new dividend represents an increase of 11.11%. All shareholders of record on November 7 will receive the new dividend on December 1.
• AVX Corp. (NYSE:AVX)
AVX manufactures and supplies various passive electronic components, interconnected devices, and related products. The company markets its products to multi-national original equipment manufacturers, independent electronic component distributors, and electronic manufacturing service providers. A subsidiary of Kyocera Corporation, AVX was founded in 1972 and is headquartered in Fountain Inn, South Carolina. On Tuesday, December 20, AVX increased its quarterly dividend to 11¢ per share, an increase of 10.00%. The dividend is payable on November 18 to shareholders of record on November 7.
• Accenture plc (NYSE:ACN)
Founded in 1989 and is based in Dublin, Ireland, ACN is engaged in providing management consulting, technology and outsourcing services. The company's business is structured around five operating groups, which together consists of 19 industry groups serving clients in industries globally. ACN's segments are Communications, Media & Technology; Financial Services; Health & Public Service; Products; and Resources. On October 19, the board of directors declared a semi-annual dividend of $1.21 per share. The new dividend represents an increase of 10.00%. The dividend is payable November 15, with an ex-dividend date of October 16.
• Lincoln Electric Holdings (NASDAQ:LECO)
Through its subsidiaries, LECO designs, develops, manufactures and sells arc welding products, robotic arc-welding systems, plasma and oxy-fuel cutting equipment. The company sells its products directly to users, as well as through industrial distributors, retailers, and agents. Headquartered in Cleveland, Ohio, the company has 47 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. LECO was founded in 1895. On October 18, the company declared a dividend of 35¢ per share. The new dividend represents a 9.38% increase. The new dividend is payable on January 13 to shareholders of record on December 31, with an ex-dividend date of December 28.
• Stepan Company (NYSE:SCL)
Headquartered in Northfield, Illinois, SCL produces and sells specialty and intermediate chemicals to manufacturers for use in a broad range of industries. The company is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning compounds. SCL is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, Elastomers) industries. The company was founded in 1932. Recently, the board of directors of SCL declared a quarterly dividend of 20.5¢ per share. The new dividend represents an increase of 7.89%. All shareholders of record on November 30 can expect the dividend to be paid on December 15.
• IDACORP Inc. (NYSE:IDA)
IDA is a holding company that engages in the generation, transmission, distribution, purchase and sale of electric energy and electric capacity. The company operates 17 hydroelectric generating plants in southern Idaho and eastern Oregon, as well as three natural gas-fired plants in southern Idaho. It owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon. IDA was founded in 1915 and is headquartered in Boise, Idaho. The company declared a quarterly dividend of 55.¢ per share, an increase of 7.84% over the prior quarterly dividend. The dividend is payable on November 30 to shareholders of record at the close of business on November 7.
• AptarGroup Inc. (NYSE:ATR)
Founded in 1992, ATR develops, manufactures, and sells consumer product dispensing systems worldwide. The company serves the beauty, personal care, home care, prescription drug, consumer health care, injectables, food and beverage markets. Based in Crystal Lake, Illinois, ATR sells its products through its own sales force, as well as through independent representatives and distributors. Recently, ATR increased its quarterly dividend from 30¢ per share to 32¢ per share, an increase of 6.67%. The dividend is payable on November 23 to shareholders of record on November 2. ATR will trade ex-dividend on October 31.
• Penske Automotive Group, Inc. (NYSE:PAG)
Headquartered in Bloomfield Hills, Michigan, PAG is an international transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. PAG distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services in Australia and New Zealand. On Wednesday, October 19, the company increased its quarterly dividend by 3.57% to 29.¢ per share. The new dividend is payable on December 1 to shareholders of record on November 10, with an ex-dividend date of November 8.
• South State Corp. (NASDAQ:SSB)
SSB operates as the bank holding company for South State Bank, providing a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. Founded in 1933 and headquartered in Columbia, South Carolina, SSB operates 127 financial centers in 24 South Carolina counties and 4 North Carolina counties, as well as 13 counties in Georgia. SSB was formerly known as First Financial Holdings, Inc, but changed its name to South State Corporation in July 2013. The company increased its quarterly dividend by 3.23%, from 31¢ per share to 32¢ per share. The dividend is payable November 18, with an ex-dividend date of November 9.
• Magellan Midstream Partners LP (NYSE:MMP)
Founded in 2000 and headquartered in Tulsa, Oklahoma, MMP is a publicly traded partnership engaged in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. The company owns the longest refined products pipeline in the USA, with access to about half of the nation's refining capacity. MMP transports gasoline, distillates, aviation fuels, and liquefied petroleum gasses for independent and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives. Recently, MMP increased its quarterly distribution from 82¢ per unit to 83.75¢ per unit, an increase of 2.13%. The distribution is payable on November 14 to unitholders of record on October 31. The ex-dividend date is October 27.
• 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. Recently, the board of directors of WES declared a quarterly distribution of 84.5¢ per unit. The new distribution represents an increase of 1.81%. The distribution is payable on November 10 to unitholders of record on October 31.
• 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 board of directors of HEP has declared a quarterly distribution of 59.5¢ per unit. The new distribution is 1.71% above the prior distribution of 58.5¢ per unit. The distribution is payable on November 10 to unitholders of record at the close of business on October 31.
• 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. On Monday, October 17, TLP increased its quarterly distribution to 70¢ per unit, an increase of 1.45%. The distribution is payable on November 7 to unitholders of record on October 31. The stock will trade ex-dividend on October 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/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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.