Monitoring dividend increases for stocks on my watch list helps me identify candidates for further analysis. Companies that regularly increase dividends show confidence in future earnings growth potential. In the past week, 14 companies on my watch list decided to increase their dividends. 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: July 18-22, 2016|
|Previous Post: 16 Dividend Increases: July 4-15, 2016|
• Littelfuse Inc (NASDAQ:LFUS)
Founded in 1927 and headquartered in Chicago, Illinois, LFUS designs, manufactures, and supplies circuit protection products for the electronics, automotive and industrial markets. The company's products include fuses, semiconductors, polymers, ceramics, relays and sensors. LFUS has nearly 10,000 employees in more than 40 locations throughout the Americas, Europe and Asia. On July 21, the board of directors declared a quarterly dividend of 33¢ per share. The new dividend represents an increase of 13.79%. The dividend is payable September 8, with an ex-dividend date of August 23.
• LegacyTexas Financial Group Inc (NASDAQ:LTXB)
Headquartered in Plano, Texas, LTXB is a bank holding company for LegacyTexas Bank that provides banking and financial services in North Texas. The company's deposit products include savings, money market, certificates of deposit, and individual retirement accounts. Its lending products include commercial and consumer real estate loans, commercial and industrial loans, and consumer loans. The company also offers brokerage services for the purchase and sale of non-deposit investment and insurance products. Recently, the board of directors of LTXB declared a quarterly dividend of 15¢ per share. The new dividend represents an increase of 7.14%. The new dividend is payable on August 15 to shareholders of record on August 1. The ex-dividend date will be July 28.
• Mercantile Bank Corp (NASDAQ:MBWM)
MBWM operates as the bank holding company for Mercantile Bank of Michigan, which provides commercial banking services for small to medium-sized businesses and individuals in West and Central Michigan. The company makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. MBWM was founded in 1997 and is headquartered in Grand Rapids, Michigan. On July 19, the board of directors approved an increase to the regular quarterly dividend from 16¢ per share to 17¢ per share, an increase of 6.25%. The dividend is payable on September 21 to shareholders of record on September 9. The stock will trade ex-dividend on September 7.
• TC PipeLines LP (NYSE:TCP)
TCP is a limited partnership company that acquires, owns and participates in the management of energy infrastructure businesses in North America. The company has four wholly-owned pipelines and equity ownership interests in three natural gas interstate pipeline systems that transport natural gas from producing regions and import facilities to market hubs and consuming markets primarily in the Western, Midwestern, and Eastern United States. TCP was founded in 1998 and is based in Houston, Texas. TCP will pay a quarterly distribution of 94¢ per unit, an increase of 5.62% over the previous quarterly distribution. The distribution is payable on August 12 to unitholders of record on August 1.
• Northern Trust Corp (NASDAQ:NTRS)
NTRS is a financial holding company that provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The company has offices in more than 20 states in the United States and in approximately 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. NTRS was founded in 1889 and is based in Chicago, Illinois. On July 20, the company declared a dividend of 38¢ per share. The new dividend represents a 5.56% increase. The dividend is payable on October 1 to shareholders of record on September 2.
• Stanley Black & Decker (NYSE:SWK)
Founded in 1843 and headquartered in New Britain, Connecticut, SWK is a global provider of power and hand tools, mechanical access solutions, and electronic security and monitoring systems. The company operates in 3 segments, namely Construction & Do-It-Yourself (CDIY), Industrial and Security. Formerly known as The Stanley Works, SWK changed its name to Stanley Black & Decker, Inc. in March 2010. On Thursday, July 21, the company increased its quarterly dividend by 5.45% to 58¢ per share. The dividend is payable September 20, with an ex-dividend date of August 31.
• Bryn Mawr Bank Corp (NASDAQ:BMTC)
Founded in 1889 and headquartered in Bryn Mawr, Pennsylvania, BMTC offers a range of personal and business banking services, consumer and commercial loans, equipment leasing, mortgages, insurance, and wealth management services, including investment management, trust and estate administration, retirement planning, custody services, and tax planning and preparation. BMTC operates 26 full-service branches, 8 retirement community offices, and 5 wealth management offices in Pennsylvania and in Delaware. Recently, BMTC increased its quarterly dividend by 5.00% to 21¢ per share. The dividend is payable on September 1 to shareholders of record on August 2.
• Lindsay Corp (NYSE:LNN)
Founded in 1954 and headquartered in Omaha, Nebraska, LNN provides a range of water management and road infrastructure products and services in the United States and internationally. The company manufactures and markets center pivot, lateral move and hose reel irrigation systems, principally for use in the agricultural industry. It also manufactures and markets moveable and specialty barriers, crash cushions and end terminals, and road marking and safety equipment, for transportation agencies and roadway contractors. On July 21, the board of directors declared a quarterly dividend of 29¢ per share. The new dividend represents an increase of 3.57%. All shareholders of record on August 17 can expect the dividend to be paid on August 31.
• Home Bancshares Inc (NASDAQ:HOMB)
HOMB is a bank holding company engaged in providing a range of commercial and retail banking, and related financial services. The company's target customers include businesses, real estate developers and investors, individuals and municipalities. It has branches in Arkansas, Florida, Alabama, and a loan processing office in New York City. HOMB was founded in 1998 and is headquartered in Conway, Arkansas. Recently, HOMB increased its quarterly dividend from 8.75¢ per share to 9¢ per share, an increase of 2.86%. The dividend is payable on August 31 to shareholders of record on August 10.
• 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 gases for independent and integrated oil companies, wholesalers, retailers, traders, railroads, airlines, and regional farm cooperatives. On Thursday, July 21, the company increased its quarterly distribution by 2.18% to 82¢ per unit. All unitholders of record on August 1 can expect the distribution to be paid on August 12.
• Bar Harbor Bankshares (NYSEMKT:BHB)
BHB is a bank holding company for Bar Harbor Bank & Trust. It offers a range of deposit, loan and related banking products, brokerage services, and trust and investment management services to individuals, businesses, not-for-profit organizations and municipalities. As a coastal bank, it serves the tourism, hospitality, lobstering, fishing, boat building and marine services industries. BHB was founded in 1887 and is headquartered in Bar Harbor, Maine. The company's board of directors approved an increase in the quarterly dividend of 1.85% to 27.5¢ per share. All shareholders of record on August 15 can expect the dividend to be paid on September 15.
• 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. The board of directors of WES has declared a quarterly distribution of 83¢ per unit. The new distribution is 1.84% above the prior distribution of 81.5¢ per unit. The distribution is payable on August 12 to unitholders of record on August 1. The ex-dividend date is July 28.
• 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. On Friday, July 22, HEP increased its quarterly distribution to 58.5¢ per unit, an increase of 1.74%. The quarterly distribution will be paid on August 12 to unitholders of record on August 1. The ex-dividend date is July 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. Recently, the board of directors of TLP declared a quarterly distribution of 69¢ per unit. The new distribution represents an increase of 1.47%. The distribution is payable on August 8 to unitholders of record on July 29. The stock will trade ex-dividend on July 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.