Monitoring dividend increases for stocks on my watch is one way to identify candidates for further analysis. Companies can only raise their dividends regularly if earnings grow sufficiently. In the past week, 21 companies on my watch list announced dividend increases, including 2 of the stocks I own.
The following table presents a summary. 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 25-29, 2016|
|Previous Post: 14 Dividend Increases: July 18-22, 2016|
• CBS Corp (Class B) (NYSE:CBS)
CBS operates as a mass media company, creating and distributing content across a variety of platforms to audiences around the world. The company operates many media units, including CBS Television Network, CBS Television Studios, Showtime Networks, CBS Sports Network and Smithsonian Networks. It owns and operates CBS Television Stations and CBS Radio. CBS was founded in 1986 and is headquartered in New York, New York. The company increased its quarterly dividend by 20.00%, from 15¢ per share to 18¢ per share. The ex-dividend date is September 7 and the dividend will be paid on October 1 to shareholders of record on September 9.
• Interface Inc (NASDAQ:TILE)
TILE is engaged in the design, production and sales of carpet tiles for markets in the Americas, Europe, and the Asia-Pacific. The company markets its products in more than 100 countries under the brand names Interface and FLOR. Products are distributed through direct sales channels to end users and also indirectly through independent contractors or distributors. TILE was founded by Ray C. Anderson in 1973 and is headquartered in Atlanta, GA. Recently, TILE increased its quarterly dividend from 5¢ per share to 6¢ per share, an increase of 20.00%. All shareholders of record on August 12 will receive the new dividend on August 26.
• Terreno Realty Corp (NYSE:TRNO)
TRNO is a real estate investment trust. The company acquires, owns and operates industrial real estate properties located in six major coastal United States markets, namely the Los Angeles Area; Northern New Jersey and New York City; San Francisco Bay Area; Seattle Area; Miami Area; and Washington, D.C and Baltimore. Terreno Realty was founded by Michael A. Coke and W. Blake Baird on November 6, 2009 and is headquartered in San Francisco, CA. The company announced an increase of its quarterly dividend of 11.11% to 20¢ per share. The dividend is payable on October 21 to shareholders of record at the close of business on October 7.
• Reynolds American Inc (NYSE:RAI)
Founded in 2004 and headquartered in Winston-Salem, North Carolina, RAI, through its subsidiaries, manufactures and sells cigarettes and other tobacco products in the United States. The company also provides electronic cigarettes. It distributes its products primarily through direct wholesale deliveries from a local distribution center and public warehouses. The company increased its quarterly dividend by 9.52%, from 42¢ per share to 46¢ per share. The dividend is payable on October 3 to shareholders of record on September 12. RAI will trade ex-dividend on September 8.
• CBOE Holdings Inc (NASDAQ:CBOE)
Founded in 1973 and headquartered in Chicago, Illinois, CBOE is a holding company for Chicago Board Options Exchange, Inc., C2 Options Exchange, CBOE Futures Exchange LLC and other subsidiaries. The primary business of the company is the operation of markets for trading options on various market indexes, futures contracts, individual stocks, and exchange-traded funds. CBOE's exchanges operate on its proprietary technology platform, known as CBOE Command. Recently, the board of directors of CBOE declared a quarterly dividend of 25¢ per share. The new dividend represents an increase of 8.70%. The new dividend is payable on September 16 to shareholders of record on September 2, with an ex-dividend date of August 31.
• Provident Financial Holdings Inc (NASDAQ:PROV)
PROV operates as the holding company for Provident Savings Bank, F.S.B. The company provides community and mortgage banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company operates through 14 full-service banking offices in Riverside County and 1 full-service banking office in San Bernardino County. PROV was founded in 1956 and is headquartered in Riverside, California. The company declared a quarterly dividend of 13¢ per share, an increase of 8.33% over the prior quarterly dividend. The first payment will be on September 5 to shareholders of record on August 15. The ex-dividend date is August 11.
• BB&T Corp (NYSE:BBT)
BBT is a financial holding company that conducts its business operations primarily through its bank subsidiary, Branch Bank, and other non-bank subsidiaries. Based in Winston-Salem, North Carolina, the company operates in 15 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. BBT was founded in 1872. Recently, BBT increased its quarterly dividend to 30¢ per share, an increase of 7.14% over the prior dividend of 28¢ per share. The dividend is payable on September 1 to shareholders of record on August 12. The stock will trade ex-dividend on August 10.
• Republic Services Inc (NYSE:RSG)
RSG provides non-hazardous solid waste collection, transfer, recycling, and disposal services for commercial, industrial, municipal, and residential customers in the United States. The company operates in 39 states and Puerto Rico. RSG was founded in 1996 and is based in Phoenix, Arizona. On July 28, the board of directors declared a quarterly dividend of 32¢ per share. The new dividend represents an increase of 6.67%. All shareholders of record on October 3 can expect the dividend to be paid on October 14.
• Hershey Company (NYSE:HSY)
Founded in 1894 and headquartered in Hershey, Pennsylvania, HSY is a provider of chocolate and sugar confectionery. The company offers chocolate and sugar confectionery products; pantry items, such as baking ingredients, toppings and beverages; snack items, including spreads, and gum and mint refreshment products. HSY markets and sells its products to wholesale distributors, chain grocery stores, mass merchandisers, chain drug stores, vending companies, wholesale clubs, convenience stores, dollar stores, concessionaires, and department stores. Recently, HSY increased its quarterly dividend by 6.00% to 61.8¢ per share. The dividend is payable on September 15 to shareholders of record on August 25.
• SoTHERLY Hotels Inc (NASDAQ:SOHO)
Formerly known as MHI Hospitality Corp, SOHO is a self-managed and self-administered equity REIT (real estate investment trust). The company focuses on acquiring, renovating, and reposition of upscale full-service hotel properties in the mid-Atlantic and southern United States. Its portfolio consists of 12 full-service hotels with an aggregate of more than 3,000 rooms. SOHO was formerly known as MHI Hospitality Corp. SOHO was founded in 1957 and is based in Williamsburg, Virginia. On Tuesday, July 26, the company increased its quarterly dividend by 5.56% to 9.5¢ per share. The dividend is payable on October 11 to shareholders of record on September 15. The stock will trade ex-dividend on September 13.
• Columbia Banking System Inc (NASDAQ:COLB)
COLB operates as the bank holding company for Columbia State Bank, which provides various banking products and services to small and medium-sized businesses, professionals, and individuals. The company's products and services include personal banking, business banking and wealth management. As of December 31, 2015, the company had 149 branches, including 74 branches in Washington, 59 branches in Oregon, and 16 branches in Idaho. COLB was founded in 1993 and is headquartered in Tacoma, Washington. On July 28, the board of directors declared a quarterly dividend of 20¢ per share. The new dividend represents an increase of 5.26%. The dividend is payable on August 24 to shareholders of record on August 10. The ex-dividend date is August 8.
• EQT Midstream Partners LP (NYSE:EQM)
EQM owns, operates, acquires and develops midstream assets in the Appalachian Basin. The company provides natural gas transmission, storage and gathering services in southwestern Pennsylvania and northern West Virginia. It serves local distribution companies, marketers, producers, and commercial and industrial users, as well as natural gas producers. EQT is headquartered in Pittsburgh, Pennsylvania. The board of directors of EQM has declared a quarterly distribution of 78¢ per unit. The new distribution is 4.70% above the prior distribution of 74.5¢ per unit. All unitholders of record on August 5 can expect the distribution to be paid on August 12.
• Comerica Inc (NYSE:CMA)
Founded in 1849 and headquartered in Dallas, Texas, CMA is a financial services company that provides various financial products and services to business and individual customers. The company operates in three business segments, Business Bank, Retail Bank, and Wealth Management. In addition to Texas, CMA locations can be found in Arizona, California, Florida, and Michigan, with select businesses in other states, as well as in Canada and Mexico. Recently, CMA increased its quarterly dividend by 4.55% to 23¢ per share. The dividend is payable on October 1 to shareholders of record on September 15. The stock will trade ex-dividend on September 13.
• Kellogg Company (NYSE:K)
K manufactures and markets ready-to-eat cereal and convenience foods, including cookies, crackers, savory snacks, cereal bars, and fruit-flavored snacks. The company's cereal products are generally marketed under the Kellogg's name and are sold to the grocery trade through direct sales forces. K was founded in 1906 and is headquartered in Battle Creek, Michigan. The board of directors of K has declared a quarterly dividend of 52¢ per share. The new dividend is 4.00% above the prior dividend of 50¢ per share. The ex-dividend date is August 30 and the dividend will be paid on September 15 to shareholders of record on September 1.
• 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. The company increased its quarterly dividend by 3.70%, from 27¢ per share to 28¢ per share. The dividend is payable on September 1 to shareholders of record on August 10. The ex-dividend date is August 8.
• Community Trust Banc (NASDAQ:CTBI)
CTBI is a bank holding company for Community Trust Bank, Inc. and Community Trust and Investment Company. The company engages in a range of commercial and personal banking and trust and wealth management activities. It serves small and mid-sized communities in eastern, northeastern, central and south central Kentucky; southern West Virginia, and northeastern Tennessee. The company was founded in 1903 and is headquartered in Pikeville, Kentucky. The board of directors of CTBI has declared a quarterly dividend of 32¢ per share. The new dividend is 3.23% above the prior dividend of 31¢ per share. The first payment will be on October 1 to shareholders of record on September 15. The ex-dividend date is September 13.
• Eagle Bancorp Montana Inc (NASDAQ:EBMT)
EBMT operates as the holding company for Opportunity Bank of Montana. The company provides commercial, residential, construction, home equity, and consumer loans. It also provides a range of deposit accounts, which include certificates of deposit accounts, checking, savings and money market accounts. As of January 26, 2016, the company served consumers and small businesses through 13 banking offices in Southern Montana. EBMT was founded in 1922 and is headquartered in Helena, Montana. The company increased its quarterly dividend by 3.23%, from 7.75¢ per share to 8¢ per share. The dividend is payable September 2, with an ex-dividend date of August 10.
• Simon Property Group Inc (NYSE:SPG)
SPG is a self-administered and self-managed equity real estate investment trust. The company owns, develops and manages retail real estate properties, such as regional malls, Premium Outlets, The Mills, and community and lifestyle centers. SPG was founded in 1960 and is based in Indianapolis, Indiana, with additional offices in Delaware and New York. The company's board of directors approved an increase in the quarterly dividend of 3.12% to $1.65 per share. All shareholders of record on August 17 can expect the dividend to be paid on August 31.
• Sunoco Logistics Partners LP (NYSE:SXL)
Headquartered in Newtown Square, Pennsylvania, SXL is a master limited partnership that owns and operates a logistics business. The company transports, terminals, and stores crude oil, refined products, and natural gas liquids. SXL's general partner is a consolidated subsidiary of Energy Transfer Partners, L.P. (NYSE:ETP). The company was founded in 2001. Recently, the board of directors of SXL declared a quarterly distribution of 50¢ per unit. The new distribution represents an increase of 2.25%. The new distribution is payable on August 12 to unitholders of record on August 8. The ex-dividend date will be August 4.
• Sunoco LP (NYSE:SUN)
Formerly known as Susser Petroleum Partners LP, SUN is engaged in the wholesale distribution and retail sale of motor fuels primarily in Texas, New Mexico, Oklahoma, Louisiana, Kansas, Maryland, Virginia, Tennessee, Georgia, and Hawaii. The Wholesale segment sells motor fuel to its Retail segment and external customers. The Retail segment operates convenience stores selling a range of merchandise, food items, services and motor fuel. SUN is based in Dallas, Texas. On Tuesday, July 26, SUN increased its quarterly distribution to 82.55¢ per unit, an increase of 1.00%. The distribution is payable on August 15 to unitholders of record on August 5. SUN will trade ex-dividend on August 3.
• Realty Income Corp (NYSE:O)
Known as The Monthly Dividend Company®, O is an equity real estate investment trust dedicated to providing shareholders with dependable monthly income. The company earns income from nearly 4,500 properties owned under long-term lease agreements with regional and national retail chains and other commercial tenants. Realty Income Corporation was founded in 1969 and is based in Escondido, California. On July 27, the board of directors declared a monthly dividend of 20.15¢ per share. The new dividend represents an increase of 1.00%. All shareholders of record on September 1 can expect the dividend to be paid on September 15.
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 O,RAI.
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.
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