Dividend growth investing is a popular model followed by the investing community to build assets. Companies which not only pay dividends, but raise them year after year have been shown to perform better overall for investor returns.
As part of my due diligence, I closely monitor all companies that raise dividends (or cut them) and this article shares the dividend amount changes announced by companies.
Note that only companies with a market cap of $2B+ are included, as the list of small/micro cap companies is too long to include here.
July was another great month for dividend raises. Dividend raises were noted from companies such as: Medtronic plc (MDT), Lowe's Companies (LOW), Morgan Stanley (MS), Hershey Co (HSY), Kellogg Co (K), Cummins Inc (CMI), ONEOK Inc (OKE), Papa John’s Intl Inc (PZZA), Paychex Inc (PAYX), Occidental Petroleum Corp (OXY), Omega Healthcare Investors Inc (OHI), Duke Energy (DUK), J M Smucker Co (SJM), ConAgra Brands (CAG), Enterprise Products Partneres L.P (EPD), and many more.
Data Visualization by Simply Wall St.
Images used in this article are from Simply Wall St, a financial visualization tool that has a unique way of representing value, future performance, past performance, financial health and dividends -- all in one single image called Snowflake. I posted a review of Simply Wall St where I explain the features. If you are unfamiliar with the tool, be sure to check out the review. However, the images used below are fairly intuitive to understand.
The following lists the highest raises and cuts from the month of July 2017.
The Dividend Raises
Norbord Inc (OSB)
Norbord Inc. is a Canada-based producer of wood-based panels. The Company is engaged in manufacturing, sales, marketing and distribution of panelboards and related products used in the construction of new homes or the renovation and repair of existing structures. Its geographic segments include North America and Europe.
The company announced that the quarterly dividends will increase from CAD$0.30 to CAD$0.50. This is the second increase from Norbord Inc in 2017. In May of this year, the company tripled its dividend from CAD$0.10 to CAD$0.30.
Dividend Raise: 66.7%. Forward yield is 4.78%.
Total System Services Inc (TSS)
Total System Services Inc is a payment solutions provider that provides payment processing services, merchant services and related payment services to financial and non-financial institutions. The Company's segments include North America Services, Merchant Services, NetSpend and International Services.
The company announced raising its quarterly dividend from $0.10 to $0.13.
Dividend Raise: 30%. Forward yield is 0.81%.
TSS has a DIVCON score of 2.
Regions Financial Corp (RF)
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System.
Regions Financial announced increasing its quarterly dividend from $0.07 to $0.09. This is the second increase from RF in 2017 after its first increase in April from $0.065 to $0.07, a 7.69% increase.
Dividend Raise: 28.5%. Forward yield is 2.41%.
Regions Financial has a DIVCON score of 4.
Morgan Stanley (MS)
Morgan Stanley is a financial holding company. The Company's segments include Institutional Securities, Wealth Management and Investment Management.
MS announced that the quarterly dividend will be raised from $0.20 to $0.25.
Dividend Raise: 25%. Forward yield is 2.08%.
Morgan Stanley has a DIVCON score of 4.
Home Bancshares Inc (HOMB)
Home BancShares, Inc. is a bank holding company. The Company is engaged in providing a range of commercial and retail banking, and related financial services to businesses, real estate developers and investors, individuals and municipalities through its community bank subsidiary, Centennial Bank (the Bank). The Bank has locations in Arkansas, Florida, South Alabama and New York City.
HOMB announced that the quarterly dividend will be raised from $0.09 to $0.11.
Dividend Raise: 22.2%. Forward yield is 1.76%.
HOMB has a DIVCON score of 4.
The Dividend Cuts
No dividend cuts were noted from companies with a market cap greater than $2B.
July marked another great month for dividend growth investors. Many large cap companies sending plenty of good news to investors and shareholders and no dividend cuts were noted for the month. Investors should do their own due diligence before investing in any of the companies mentioned. Did you get any raises from the stocks mentioned?
Full Disclosure: Long OHI. My full list of holdings is available here.
Disclosure: I am/we are long OHI.
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.