One way to identify dividend growth stocks for further analysis is to monitor dividend increases. Companies can only increase their dividends regularly if earnings grow sufficiently. Recently, nine companies on my watch list decided to increase their dividends. 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 closing 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 3-7, 2016|
|Previous Post: 7 Dividend Increases: September 26-30, 2016|
• Ingersoll-Rand plc (NYSE:IR)
IR is a diversified, global company that provides products and services to improve the quality and comfort of air in homes and buildings; and to transport and protect food and perishables. The company markets and sells its products through sales offices, distributors, and dealers in the United States; and through subsidiary sales and service companies with a supporting chain of distributors worldwide. IR was founded in 1872 and is headquartered in Swords, Ireland. The company's board of directors approved an increase in the quarterly dividend of 25.00% to 40¢ per share. All shareholders of record on December 9 can expect the dividend to be paid on December 30.
• Intuit Inc (NASDAQ:INTU)
INTU provides business and financial management solutions for small businesses, consumers and accounting professionals. The company provides QuickBooks financial and business management online services and desktop software, as well as TurboTax products and services, which enable individuals to prepare and file federal and state personal income tax returns. INTU was founded in 1983 and is headquartered in Mountain View, California. The company's board of directors approved an increase in the quarterly dividend of 13.33% to 34¢ per share. The quarterly dividend will be paid on October 18 to shareholders of record on October 10. The ex-dividend date is October 5.
• American Financial Group Inc (NYSE:AFG)
AFG is an insurance holding company based in Cincinnati, Ohio. With assets over $50 billion, the company is engaged primarily in property and casualty insurance and in the sale of fixed and fixed-indexed annuities in the retail, financial institutions, and education markets. The company also provides workers' compensation insurance under the Summit brand name. AFG's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. The company's board of directors approved an increase in the quarterly dividend of 11.61% to 31.25¢ per share. The dividend is payable on October 25 to shareholders of record on October 14. AFG will trade ex-dividend on October 12.
• RPM International Inc (NYSE:RPM)
Founded in 1947 and headquartered in Medina, Ohio, RPM manufactures, markets, and sells a variety of specialty chemical products, including paints, protective coatings, roofing systems, sealants, and adhesives. The company markets its products in about 164 countries and territories, focusing primarily on industrial, specialty and consumer markets. RPM has manufacturing facilities in approximately 120 locations. On Thursday, October 6, RPM increased its quarterly dividend to 30¢ per share, an increase of 9.09%. The new dividend is payable on October 31 to shareholders of record on October 17. The ex-dividend date will be October 13.
• LTC Properties Inc (NYSE:LTC)
LTC is a healthcare real estate investment trust operating in the United States. The company invests in senior housing and long-term care healthcare properties, including skilled nursing properties, assisted living properties, independent living properties, and memory care properties through acquisitions, development, mortgage loans and other investments. LTC was founded in 1992 and is based in Westlake Village, California. The company announced a monthly DIV increase of 5.56% to 19¢ per share. The first payment will be on October 31 to shareholders of record on October 21. The ex-dividend date is October 19.
• Bank of the Ozarks Inc (NASDAQ:OZRK)
Founded in 1981 and headquartered in Little Rock, Arkansas, OZRK is a bank holding company for Bank of the Ozarks. The company serves businesses, individuals, and non-profit and governmental entities in Arkansas, Georgia, North and South Carolina, Texas, Florida, Alabama, New York and California. OZRK provides a range of retail and commercial banking services, including deposit services, loan products, mortgage lending, treasury management services and trust and wealth management services. The company's board of directors approved an increase in the quarterly dividend of 3.13% to 16.5¢ per share. OZRK will trade ex-dividend on October 12. The dividend is payable on October 21, to shareholders of record on October 14.
• Genesis Energy LP (NYSE:GEL)
GEL is a limited partnership operating in the midstream segment of the oil and gas industry. The company operates crude oil common carrier pipelines and is an independent gatherer and marketer of crude oil in North America, with operations concentrated in Texas, Louisiana, Alabama, Florida, Mississippi and New Mexico. Genesis Energy, LLC serves as a general partner of the company. GEL was founded in 1996 and is based in Houston, Texas. The company declared a quarterly distribution of 70¢ per unit, an increase of 1.45% over the prior quarterly distribution. The distribution is payable on November 14 to unitholders of record on October 29.
• Enterprise Products Partners LP (NYSE:EPD)
EPD is one of the largest publicly traded partnerships and a leading integrated provider of processing and transportation services to producers of Natural Gas Liquids and consumers of NGL products. The partnership's assets include approximately 49,000 miles of pipelines; 225 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. EPD was founded in 1968 and is based in Houston, Texas. Recently, EPD increased its quarterly distribution by 1.25% to 40.5¢ per unit. The distribution is payable on November 7 to unitholders of record on October 31.
• Northwest Natural Gas (NYSE:NWN)
NWN is engaged in the storage and distribution of natural gas in the United States. The company has operations in Oregon, Washington, and California and conducts businesses through NW Natural and its subsidiaries. The local gas distribution business serves residential, commercial, and industrial customers in Oregon and southwest Washington. The company's gas storage business provides storage services for utilities, gas marketers, electric generators and industrial users from storage facilities located in Oregon and California. NWN was founded in 1859 and is headquartered in Portland, Oregon. On Thursday, October 6, NWN increased its quarterly dividend to 47¢ per share, an increase of 0.53%. All shareholders of record on October 31 can expect the dividend to be paid on November 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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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.