I monitor dividend increases for stocks on my watch list of dividend growth stocks to identify candidates for further analysis. Companies that regularly raise their dividends show confidence in the potential growth of future earnings. I look for announcements from stocks in the CCC list, but I use several screens to limit the number of stocks to monitor:
- Market cap ≥ $500 million
- No stocks that are being acquired
- No Over-The-Counter or Pink Sheet stocks
- Dividend Yield ≥ 1.5% for Challengers
- Dividend Yield ≥ 1.0% for Contenders and Champions
In the past week, 20 companies on my watch list decided to increase their dividends.
The table below presents dividend increases from stocks in the Consumer Discretionary and Financials sectors. See the upcoming Part 2 for dividend increase announcements from the remaining sectors.
The table is sorted by the percentage increase, %Incr. Dividends are annualized and in US$, 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: February 26-March 2, 2018 |
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Previous Post: 33 Dividend Increases: February 19-23, 2018 |
Best Buy (BBY)
BBY is a retailer of technology products, services, and solutions in North America. The company offers service to the consumers, small business owners, and educators who visit its stores, engage with Geek Squad agents, or use its website or mobile applications. BBY was founded in 1966 and is headquartered in Richfield, Minnesota.
The company's board of directors approved an increase in the quarterly dividend of 32.35% to 45¢ per share. All shareholders of record as on March 22 will receive the new dividend on April 12.
Carter's (CRI)
CRI markets apparel for babies and young children in the United States and Canada under the brand names Carter's and OshKosh B'gosh. The company distributes its products through department stores, chain and specialty stores, and discount retailers, as well as company-operated stores and websites. CRI was founded in 1865 and is headquartered in Atlanta, Georgia.
The company's board of directors approved an increase in the quarterly dividend of 21.62% to 45¢ per share. The new dividend is payable on March 23 to shareholders of record as on March 12, with an ex-dividend date of March 9.
MB Financial (MBFI)
MBFI operates as a financial holding company for MB Financial Bank. It provides financial services to businesses and individuals primarily in the Chicago metropolitan area. The company’s segments include Banking, Leasing, and Mortgage Banking. MBFI was founded in 1911 and is headquartered in Chicago, Illinois
On March 2, the board of directors declared a quarterly dividend of 24¢ per share. The new dividend represents an increase of 14.29%. The dividend is payable on March 30 to shareholders of record as on March 15. MBFI will trade ex-dividend on March 14.
Wyndham Worldwide (WYN)
WYN is a hospitality company that provides a wide range of hospitality services and products to individual consumers and business customers. Its brands include Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Howard Johnson, Wingate by Wyndham, Tryp by Wyndham, RCI, Landal GreenParks, and others. WYN is headquartered in Parsippany, New Jersey.
WYN will pay a quarterly dividend of 66¢ per share, an increase of 13.79% over the previous quarterly dividend. WYN will trade ex-dividend on March 14. The dividend is payable on March 30 to shareholders of record as on March 15.
Flushing Financial (FFIC)
Flushing Financial Corporation is the bank holding company for Flushing Bank, which provides banking products and services to consumers, businesses, and governmental entities in the New York City Boroughs of Queens, Brooklyn, and Manhattan, and in Nassau County, New York. FFIC was founded in 1995 and is based in Uniondale, New York.
The company increased its quarterly dividend by 11.11%, from 18¢ per share to 20¢ per share. The dividend is payable on March 30 to shareholders of record as on March 9. FFIC will trade ex-dividend on March 8.
Kohl's (KSS)
Founded in 1962, KSS operates department stores in the United States, offering private label, exclusive, and national brand apparel, footwear, accessories, beauty, and home products. Its private brands include Apt. 9, Croft & Barrow, Jumping Beans, SO, and Sonoma Life + Style. The company is headquartered in Menomonee Falls, Wisconsin.
The company increased its quarterly dividend by 10.91%, from 55.¢ per share to 61¢ per share. KSS will trade ex-dividend on March 13. The dividend is payable on March 28 to shareholders of record as on March 14.
Douglas Dynamics (PLOW)
PLOW manufactures and sells snow and ice control equipment in the United States and Canada. The company offers snowplows, sand and salt spreaders, dump bodies, muni-bodies, replacement parts, and related parts and accessories. It also provides customized turnkey solutions to governmental agencies. PLOW was founded in 2004 and is headquartered in Milwaukee, Wisconsin.
The board of directors of PLOW has declared a quarterly dividend of 26.5¢ per share. The new dividend is 10.42% above the prior dividend of 24¢ per share. The dividend is payable on March 30 to shareholders of record as on March 22.
First Midwest Bancorp (FMBI)
FMBI is a bank holding company for First Midwest Bank, an Illinois state-chartered bank that provides a range of banking, treasury, and wealth management products and services. The company’s customers include commercial and industrial, commercial real estate, municipal, and consumer customers. FMBI was incorporated in 1982 and is headquartered in Itasca, Illinois.
Recently, FMBI increased its quarterly dividend by 10.00% to 11¢ per share. The dividend is payable on April 19 to shareholders of record as on March 23.
Amerisafe (AMSF)
AMSF is an insurance holding company that provides workers' compensation insurance in the United States. The company’s customers are small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, and agriculture. AMSF was incorporated in 1985 and is based in DeRidder, Louisiana.
Recently, AMSF increased its quarterly dividend by 10.00% to 22¢ per share. The new dividend is payable on March 23 to shareholders of record as on March 9. The ex-dividend date will be March 8.
SpartanNash (SPTN)
Formerly knowing as Spartan Stores, Inc., SPTN is a multi-regional retailer and distributor of groceries in the United States. The company's core businesses include distributing food to military commissaries and exchanges, as well as to independent and corporate-owned retail stores. SPTN was founded in 1917 and is headquartered in Grand Rapids, Michigan.
On Thursday, March 1, the company increased its quarterly dividend by 9.09% to 18¢ per share. The dividend is payable on March 29 to shareholders of record at the close of business as on March 16.
FBL Financial Group (FFG)
FFG is a holding company of Farm Bureau Life Insurance Company, which underwrites and markets a broad range of life insurance and annuities to individuals and businesses. The company distributes its products through multiline exclusive agents. FFG was founded in 1945 and is headquartered in West Des Moines, Iowa.
The company's board of directors approved an increase in the quarterly dividend of 4.55% to 46¢ per share. The dividend is payable on March 29 to shareholders of record as on March 15. The stock will trade ex-dividend on March 14.
Please note that I'm not recommending any of these stocks. Readers should do their own research on these companies before buying shares.
Below, I'm including charts from F.A.S.T. Graphs for three of this week's dividend raisers: CRI, WYN, and FFG.
In these charts, the black line represents the share price, and the blue line represents the calculated P/E multiple at which the market has tended to value the stock over time. The orange line is the primary valuation reference line. It is based on one of three valuation formulas, depending on the earnings growth rate achieved over the time frame in question. (The Adjusted Earnings Growth Rate represents the slope of the orange line in the chart.)
CRI's price line (black) is above the primary valuation line (orange) and above the stock's normal P/E ratio (blue). The stock is trading at a premium to fair value. An investment in CRI in January 2008 would have returned 19.7% on an annualized basis (with dividends included).
WYN's price line is above the stock's normal P/E ratio and above the primary valuation line. The stock is trading at a premium to fair value. An investment in WYN in January 2008 would have returned 18% on an annualized basis (with dividends included).
FFG's price line is above the primary valuation line and above the stock's normal P/E ratio. The stock is trading at a premium to fair value. An investment in FFG in January 2008 would have returned 8.5% on an annualized basis (with dividends included).
Upcoming Ex-Dividend Dates
As a bonus, here is a summary of available ex-dividend dates for the next two weeks. You must own a stock before its ex-dividend date to be eligible to receive the next dividend.
The table is sorted by Ticker, and as before, Next Div is annualized.
Please note that Next Div links to the latest dividend declaration announcement. Note also that the table is limited to Consumer Discretionary and Financials sector stocks. Refer to the upcoming Part 2 for available ex-dividend dates of stocks in other sectors.
Summary of Upcoming Ex-Dividend Dates: March 5-18, 2018
Company | Ticker | Yield | Recent | Yrs | 5-Yr | Next | Ex-Div | Pay- |
Argo Group International Holdings | 1.85% | $54.00 | 6 | 17.60% | 03/06 | 03/23 | ||
Assured Guaranty | 1.85% | $34.92 | 7 | 9.60% | 03/06 | 03/21 | ||
Amerisafe | AMSF | 1.57% | $56.35 | 6 | N/A | $0.88 | 03/08 | 03/23 |
Avery Dennison | 1.52% | $114.52 | 7 | 10.30% | 03/06 | 03/21 | ||
BlackRock | 2.10% | $548.66 | 9 | 10.80% | $11.52 | 03/06 | 03/22 | |
BancorpSouth | 1.71% | $33.00 | 5 | 66.70% | $0.56 | 03/14 | 04/02 | |
Commerce Bancshares | 1.63% | $60.27 | 50 | 5.30% | 03/08 | 03/26 | ||
Community Bank System | 2.46% | $55.94 | 26 | 4.20% | 03/14 | 04/10 | ||
Chico's FAS | 3.66% | $9.28 | 9 | 9.50% | 03/16 | 04/02 | ||
CNO Financial Group | 1.60% | $22.07 | 6 | 42.30% | 03/08 | 03/23 | ||
Cohen & Steers | 3.30% | $41.04 | 9 | 9.20% | 03/07 | 03/22 | ||
Columbia Sportswear | 1.16% | $78.26 | 13 | 10.70% | $0.88 | 03/08 | 03/22 | |
Core-Mark Holding Co. | 1.83% | $22.72 | 7 | 16.20% | $0.40 | 03/09 | 03/29 | |
Carter's | CRI | 1.54% | $117.81 | 6 | N/A | $1.80 | 03/09 | 03/23 |
Community Trust Banc | 2.96% | $45.00 | 37 | 2.70% | 03/14 | 04/01 | ||
Dunkin' Brands Group | 2.32% | $59.48 | 7 | 16.50% | 03/09 | 03/21 | ||
Brinker International | 4.41% | $36.35 | 13 | 14.90% | 03/08 | 03/29 | ||
EMC Insurance Group | 3.29% | $26.90 | 8 | 9.50% | $0.88 | 03/13 | 03/21 | |
First American Financial Corp. | 2.62% | $57.32 | 8 | 36.90% | 03/07 | 03/15 | ||
FBL Financial Group | FFG | 2.61% | $70.95 | 7 | 34.50% | 03/14 | 03/29 | |
Flushing Financial | FFIC | 3.00% | $28.04 | 5 | 6.70% | $0.80 | 03/08 | 03/30 |
First Financial Bankshares | 1.60% | $48.05 | 7 | 8.60% | $0.76 | 03/14 | 04/02 | |
First Horizon Narional | 2.52% | $19.97 | 7 | 53.40% | $0.48 | 03/08 | 04/02 | |
First Long Island | 2.11% | $28.70 | 22 | 6.40% | $0.60 | 03/15 | 04/04 | |
Fidelity National Financial | 3.12% | $37.70 | 6 | 16.40% | $1.20 | 03/15 | 03/30 | |
Gildan Activewear | 1.55% | $29.08 | 8 | 19.00% | $0.45 | 03/07 | 04/02 | |
Genuine Parts | 3.14% | $92.53 | 62 | 6.80% | 03/08 | 04/02 | ||
Huntington Bancshares | 2.75% | $16.20 | 8 | 14.90% | 03/16 | 04/02 | ||
Home Depot | 2.26% | $181.64 | 9 | 25.10% | $4.12 | 03/07 | 03/22 | |
Hillenbrand | 1.86% | $45.50 | 11 | 1.30% | 03/15 | 03/30 | ||
Infinity Property & Casualty | 1.92% | $121.05 | 15 | 20.90% | 03/15 | 03/30 | ||
Kraft Heinz | 3.73% | $67.77 | 5 | 16.10% | 03/08 | 03/23 | ||
Kohl's | KSS | 3.69% | $66.82 | 7 | 11.40% | $2.44 | 03/13 | 03/28 |
Lear Corp. | 1.50% | $186.84 | 8 | 29.00% | 03/06 | 03/26 | ||
Leggett & Platt | 3.28% | $45.51 | 46 | 4.40% | 03/14 | 04/13 | ||
La-Z-Boy | 1.56% | $31.35 | 6 | 62.30% | $0.48 | 03/05 | 03/15 | |
Macy's | 4.98% | $30.36 | 7 | 16.60% | 03/14 | 04/02 | ||
MB Financial | MBFI | 2.26% | $43.47 | 6 | 44.50% | $0.96 | 03/14 | 03/30 |
Mercantile Bank | 2.66% | $35.30 | 7 | 52.40% | 03/08 | 03/21 | ||
Mercury General | 5.44% | $46.21 | 31 | 0.40% | $2.50 | 03/14 | 03/29 | |
Magna International | 2.40% | $52.71 | 8 | 14.90% | $1.32 | 03/08 | 03/23 | |
Monro Muffler Brake | 1.38% | $53.80 | 13 | 12.70% | $0.72 | 03/15 | 03/26 | |
Nasdaq | 1.86% | $83.91 | 6 | 30.20% | $1.52 | 03/15 | 03/30 | |
Northern Trust | 1.59% | $106.72 | 6 | 6.10% | 03/08 | 04/01 | ||
Omnicom Group | 3.15% | $75.34 | 9 | 13.90% | 03/08 | 04/09 | ||
Prosperity Bancshares | 1.86% | $78.45 | 19 | 11.20% | $1.44 | 03/15 | 04/02 | |
Republic Bancorp KY | 2.49% | $38.43 | 20 | 6.10% | 03/15 | 04/20 | ||
Royal Caribbean Cruises | 1.90% | $123.80 | 7 | 37.20% | 03/06 | 04/05 | ||
Everest Reinsurance Group | 2.16% | $254.70 | 5 | 21.30% | 03/06 | 03/21 | ||
Regions Financial | 1.85% | $19.90 | 5 | 51.10% | 03/08 | 04/02 | ||
Ruth's Hospitality Group | 1.79% | $24.75 | 6 | N/A | $0.44 | 03/07 | 03/22 | |
Sinclair Broadcast Group | 2.13% | $33.85 | 7 | 5.90% | 03/08 | 03/23 | ||
Simmons First National | 2.05% | $29.85 | 7 | 4.60% | $0.60 | 03/14 | 04/05 | |
Synovus Financial | 1.97% | $51.67 | 5 | 70.10% | 03/14 | 04/02 | ||
SpartanNash | SPTN | 3.95% | $19.41 | 7 | 16.70% | 03/15 | 03/29 | |
Stock Yards Bancorp | 2.54% | $36.35 | 9 | 9.30% | 03/16 | 04/02 | ||
TriCo Bancshares | 1.77% | $38.92 | 5 | 12.90% | 03/15 | 03/30 | ||
Hanover Insurance Group | 2.00% | $112.07 | 13 | 10.60% | 03/08 | 03/29 | ||
T. Rowe Price Group | 2.50% | $113.36 | 32 | 10.90% | 03/14 | 03/29 | ||
Travelers | 2.07% | $141.39 | 13 | 9.60% | $2.88 | 03/08 | 03/30 | |
Texas Roadhouse | 1.72% | $57.91 | 8 | 18.50% | $1.00 | 03/13 | 03/29 | |
United Bankshares | 3.83% | $37.35 | 44 | 1.30% | 03/08 | 04/02 | ||
United Community Banks | 1.51% | $32.10 | 5 | N/A | $0.12 | 03/14 | 04/05 | |
United Fire Group | 2.52% | $45.74 | 5 | 12.70% | $1.12 | 03/06 | 03/22 | |
UMB Financial | 1.59% | $76.88 | 26 | 4.50% | 03/08 | 04/02 | ||
V.F. Corp. | 2.47% | $73.43 | 45 | 17.80% | $1.84 | 03/08 | 03/19 | |
WesBanco | 2.81% | $43.49 | 8 | 8.40% | 03/08 | 04/02 | ||
Wyndham Worldwide | WYN | 2.26% | $117.61 | 9 | 20.30% | 03/14 | 03/30 | |
XL Group | 1.57% | $55.91 | 5 | 14.90% | 03/14 | 04/02 |
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