I monitor dividend increases for stocks on my watch list of dividend growth stocks to identify candidates for further analysis. Companies can only increase their dividends regularly if earnings grow sufficiently.
In the last week, 17 companies on my watch list decided to increase their dividends, including 1 of the stocks I own. 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: May 2-6, 2016|
|Previous Post: 28 Dividend Increases: April 25-29, 2016|
• Tractor Supply Company (NASDAQ:TSCO)
TSCO operates rural lifestyle retail stores in the United States, supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The company operates over 1,500 stores across the USA under the names Tractor Supply Company, Del's Feed & Farm Supply and HomeTown Pet. It also operates a website under the name TractorSupply.com. The company increased its quarterly dividend by 20.00%, from 20¢ per share to 24¢ per share. All shareholders of record on May 16 can expect the dividend to be paid on June 1.
• Marriott International Inc (NASDAQ:MAR)
MAR operates, franchises, and licenses hotels and timeshare properties in approximately 90 countries and territories worldwide. The company also develops, operates and markets residential properties and provides services to home or condominium owner associations. The company operates its properties under well-known brand names such as The Ritz-Carlton, Bulgari Hotels & Resorts and Marriott Hotels, amongst many others. MAR was founded in 1971 and is headquartered in Bethesda, Maryland. Recently, MAR increased its quarterly dividend by 20.00% to 30¢ per share. The new dividend is payable on June 30 to shareholders of record on May 20. The ex-dividend date will be May 18.
• Cardinal Health Inc (NYSE:CAH)
Founded in 1979 and headquartered in Dublin, Ohio, CAH is a healthcare services company providing pharmaceutical and medical products and services that help pharmacies, hospitals and other healthcare providers focus on patient care. CAH also provides medical products to patients in the home. The company announced an increase of its quarterly dividend of 15.99% to 44.89¢ per share. The dividend is payable on July 15 to shareholders of record on July 1. The ex-dividend date is June 29.
• National Healthcare Corp (NYSEMKT:NHC)
NHC is engaged in the operation of skilled nursing facilities with associated assisted living and independent living centers. The company provides sub-acute skilled and post-acute skilled nursing care, intermediate nursing care, rehabilitative care, senior living services, and home healthcare services. It operates in 10 states in the United States, with owned and leased properties located primarily in the southeastern, northeastern, and Midwestern parts of the United States. NHC was founded in 1971 and is based in Murfreesboro, Tennessee. The company increased its quarterly dividend by 12.50%, from 40¢ per share to 45¢ per share. The dividend is payable on September 1 to shareholders of record on May 30. NHC will trade ex-dividend on June 28.
• Sinclair Broadcast Group Inc (NASDAQ:SBGI)
SBGI is a television broadcasting company operating in the United States. On February 26, 2016, the company owned, operated, and/or provided services to 171 television stations in 81 markets, broadcasting 471 channels. The company also offers digital agency services; and technical services to the broadcast industry, as well as designs and manufactures broadcast systems, including transmitters and antennas. SBGI was founded in 1986 and is headquartered in Hunt Valley, Maryland. The company declared a quarterly dividend of 18¢ per share, an increase of 9.09% over the prior quarterly dividend. All shareholders of record on May 31 will receive the new dividend on June 15.
• ManpowerGroup Inc (NYSE:MAN)
MAN provides workforce solutions and services in the Americas, Europe, and the Asia Pacific Middle East region. The company operates through a network of 2,900 offices in 80 countries and territories. Its recruitment services include permanent, temporary, and contract recruitment. It also offers career management, training and development and outsourcing of human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives. The company was founded in 1948 and is headquartered in Milwaukee, Wisconsin. On May 3, the board of directors approved an increase to the regular semi-annual dividend from 80¢ per share to 86¢ per share, an increase of 7.50%. The dividend is payable on June 15 to shareholders of record on June 1. MAN will trade ex-dividend on May 27.
• PepsiCo Inc (NYSE:PEP)
PEP is a global food and beverage company. It manufactures, markets, distributes and sells a variety of beverages and foods in more than 200 countries and territories. The company distributes beverages under well-known brands such as, Pepsi, Gatorade, Mountain Dew, 7UP and Tropicana, and food and snacks under brands such as Quaker, Lay's, Doritos, Cheetos and Ruffles. PEP was founded in 1898 and is headquartered in Purchase, New York. PEP will pay a quarterly dividend of 75.25¢ per share, an increase of 7.12% over the previous quarterly dividend. The new dividend is payable on June 30 to shareholders of record on June 3. The ex-dividend date will be June 1.
• Chesapeake Utilities (NYSE:CPK)
CPK is a utility company engaged in natural gas distribution and transmission, propane distribution and marketing, advanced information services and other related businesses. The company serves residential, commercial, industrial, and wholesale customers. CPK was founded in 1859 and is headquartered in Dover, Delaware. The board of directors of CPK has declared a quarterly dividend of 30.5¢ per share. The new dividend is 6.09% above the prior dividend of 28.75¢ per share. The new dividend is payable on July 5 to shareholders of record on June 15. The ex-dividend date will be June 13.
• Franco-Nevada Corp (NYSE:FNV)
FNV is a gold-focused royalty and stream company headquartered in Toronto, Canada. The company's business model provides investors with gold price and exploration optionality while limiting exposure to many risks of operating companies. The company has a diversified portfolio of royalties and streams by commodity, geography, revenue type and stage of project. Assets include gold, platinum group metals, other minerals, and oil and gas. FNV was incorporated in 2007. FNV will pay a quarterly dividend of 22¢ per share, an increase of 4.76% over the previous quarterly dividend. The ex-dividend date is June 14 and the dividend will be paid on June 30 to shareholders of record on June 16.
• Southside Bancshares (NASDAQ:SBSI)
Founded in 1960 and headquartered in Tyler, Texas, SBSI operates as the holding Company for Southside Bank, providing a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Services include consumer and commercial loans, deposit accounts, and trust, safe deposit and brokerage services. The company announced a quarterly DIV increase of 4.35% to 24¢ per share. The first payment will be on June 2 to shareholders of record on May 19. The ex-dividend date is May 17.
• Macquarie Infrastructure Company LLC (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. On May 2, the board of directors approved an increase to the regular quarterly dividend from $1.15 per share to $1.20 per share, an increase of 4.35%. The dividend is payable on May 17 to shareholders of record on May 12. MIC will trade ex-dividend on May 10.
• 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. Recently, PAG increased its quarterly dividend from 26¢ per share to 27¢ per share, an increase of 3.85%. The dividend is payable on June 1 to shareholders of record on May 16. PAG will trade ex-dividend on May 12.
• Domtar Corp (NYSE:UFS)
Incorporated in 2006 and based in Fort Mill, South Carolina, UFS designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers, and absorbent hygiene products. The foundation of the company's business is a network of wood fiber converting assets that produce paper grade, fluff and specialty pulps. Recently, UFS increased its quarterly dividend to 41.5¢ per share, an increase of 3.75% over the prior dividend of 40¢ per share. The stock will trade ex-dividend on June 30, and shareholders can expect to receive the new dividend on July 15.
• 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. Recently, JCOM increased its quarterly dividend from 32.5¢ per share to 33.5¢ per share, an increase of 3.08%. The quarterly dividend will be paid on June 2 to shareholders of record on May 18. The ex-dividend date is May 16.
• Sabra Health Care REIT Inc (NASDAQ:SBRA)
Based in Irvine, California, SBRA is a real estate investment trust that owns and invests in properties for the healthcare industry. On March 31, 2016, the company's investment portfolio included 178 real estate properties held for investment and leased to operators or tenants under triple-net lease agreements, as well as 10 preferred equity investments. The properties include various healthcare facilities, senior housing, and an acute care hospital. Recently, SBRA increased its quarterly dividend by 2.44% to 42¢ per share. The dividend is payable on May 31 to shareholders of record at the close of business on May 15.
• 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 board of directors of SEP has declared a quarterly distribution of 65.125¢ per unit. The new distribution is 1.96% above the prior distribution of 63.875¢ per unit. All unitholders of record on May 16 will receive the new distribution on May 27.
• Buckeye Partners LP (NYSE:BPL)
BPL is a master limited partnership. The company owns and operates liquid petroleum pipeline systems in the United States. In addition, it operates and maintains third-party pipelines under agreements with oil and gas, petrochemical and chemical companies. BPL is headquartered in Houston, Texas. Recently, BPL increased its quarterly distribution to $1.20 per unit, an increase of 1.05% over the prior distribution of $1.19 per unit. The distribution is payable on May 23 to unitholders of record on May 16. BPL will trade ex-dividend on May 12.
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 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.