Dividend Increases: January 28-February 1, 2019 (Part 2: Remaining Sectors)

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Includes: ALE, ANTM, BAH, CPT, CVX, CWT, GLOP, MPC, NATI, NI, NP, PAG, PII, SJW, SPG
by: FerdiS
Summary

This article provides a summary of recent dividend increases.

Part 1 covered dividend increases announced for stocks in the Industrials and Financials sectors. Part 2 covers the remaining sectors.

I monitor dividend increases for stocks on my watch list of dividend growth stocks to identify candidates for further analysis.

I like monitoring dividend increases for stocks on my watch list of dividend growth stocks because I consider such stocks to be candidates for further analysis. Companies that regularly raise dividends show confidence in the potential growth of future earnings.

The CCC List provides a good starting point, but I limit the number of stocks to monitor by applying the following screens:

  • Dividend Yield ≥ 1.0%
  • Market cap ≥ $1 billion
  • No stocks that are being acquired
  • No Over-The-Counter or Pink Sheet stocks

This week, 27 companies that declared dividend increases passed these screens, including 3 of my DivGro holdings.

Part 1 of this article covered dividend increases announced for stocks in the Industrials and Financials sectors. The following table provides a summary of dividend increases announced for stocks in 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: January 28-February 1, 2019

Previous Post: Dividend Increases: January 14-18, 2019

Booz Allen Hamilton (BAH)

Founded in 1914 and headquartered in McLean, Virginia, BAH provides management and technology, consulting, and engineering services to governments, corporations, and organizations in the United States and internationally. BAH assists clients in designing cloud architecture solutions, selecting the data suitable for storage in the cloud, and developing analytical solutions to gain insights from large data.

The company announced an increase of its quarterly dividend of 21.05% to 23¢ per share. The dividend is payable on February 28 to shareholders of record on February 14.

Marathon Petroleum (MPC)

MPC refines, markets, sells, and transports petroleum products in the United States. The company’s Refining & Marketing segment refines crude oil and other feed stocks; its Speedway segment sells transportation fuels and convenience products; and its Midstream segment midstream operates energy infrastructure assets. MPC was incorporated in 2009 and is headquartered in Findlay, Ohio.

Recently, the board of directors of MPC declared a quarterly dividend of 53¢ per share. The new dividend represents an increase of 15.22%. The dividend is payable on March 11 to shareholders of record on February 20. The stock will trade ex-dividend on February 19.

Neenah Paper (NP)

NP was incorporated in April 2004 and is organized into two primary businesses. The technical products business produces transportation and other filter media and coated substrates for industrial products backings. The fine paper business supplies premium writing, cover and other specialty papers. NP is headquartered in Alpharetta, Georgia.

On February 1, the company declared a dividend of 45¢ per share. The new dividend represents a 9.76% increase. All shareholders of record on February 15 can expect the dividend to be paid on March 4.

National Instruments (NATI)

NATI designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; and various add-ons to LabVIEW. The company also provides other software products for testing and monitoring in manufacturing and production environments. NAVI was founded in 1976 and is headquartered in Austin, Texas.

On Tuesday, January 29, the company increased its quarterly dividend by 8.70% to 25¢ per share. The dividend is payable on March 4 to shareholders of record on February 11.

SJW (SJW)

SJW provides water utility services in the United States. The company produces, purchases, stores, purifies, distributes, and sells water. Additionally, the company provides non-tariffed services, including water system operations, maintenance agreements, and antenna leases. SJW was founded in 1866 and is headquartered in San Jose, California.

On January 30, the company declared a dividend of 30¢ per share. The new dividend represents a 7.14% increase. The dividend is payable on March 1 to shareholders of record at the close of business on February 11.

Anthem (ANTM)

ANTM operates as a health benefits company in the United States, offering a spectrum of network-based managed care health benefit plans to large and small group, individual, Medicaid, and Medicare markets. It also provides a range of managed care services to self-funded customers. ANTM was founded in 1944 and is headquartered in Indianapolis, Indiana.

On January 30, the board of directors approved an increase to the regular quarterly dividend from 75¢ per share to 80¢ per share, an increase of 6.67%. All shareholders of record on March 18 can expect the dividend to be paid on March 29.

Chevron (CVX)

Founded in 1984 and based in San Ramon, California, CVX is a multinational energy corporation involved in all aspects of the oil and gas industries, including exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. CVX is the fifth largest integrated energy company with operations in about 180 countries.

Recently, CVX increased its quarterly dividend from 112¢ per share to $1.19 per share, an increase of 6.25%. CVX will trade ex-dividend on February 14. The dividend is payable on March 11 to shareholders of record on February 15.

California Water Service (CWT)

CWT is a holding company that provides water utility and other related services in California, Washington, New Mexico, and Hawaii. The company produces, purchases, stores, treats, tests, distributes, and sells water for domestic, industrial, public, and irrigation uses, as well as for fire protection. CWT was founded in 1926 and is headquartered in San Jose, California.

The company declared a quarterly dividend of 19.75¢ per share, an increase of 5.33% over the prior quarterly dividend. The new dividend is payable on February 22 to shareholders of record on February 11, with an ex-dividend date of February 8.

Allete (ALE)

Founded in 1906 and headquartered in Duluth, Minnesota, ALE is an energy company that generates, transmits, and distributes electricity in the United States. The company generates electricity from coal, hydro, wind, and biomass. ALE is involved in the retail and wholesale of regulated electric, natural gas, and water services in Minnesota and northern Wisconsin.

Recently, ALE increased its quarterly dividend by 4.91% to 58.75¢ per share. The first payment will be on March 1 to shareholders of record on February 15. The ex-dividend date is February 14.

Camden Property Trust (CPT)

CPT is a real estate investment trust engaged in the ownership, management, development, acquisition, and construction of multifamily apartment communities. The company’s properties consist of multi-story buildings in a landscaped setting and provide residents with various amenities common to multifamily rental properties. CPT was founded in 1993 and is headquartered in Houston, Texas.

On January 31, the board of directors declared a quarterly dividend of 80¢ per share. The new dividend represents an increase of 3.90%. The new dividend is payable on April 17 to shareholders of record on March 29. The ex-dividend date will be March 28.

GasLog Partners (GLOP)

GLOP is a master limited partnership that focuses on owning, operating, and acquiring liquefied natural gas carriers under multi-year charters. The company has a fleet of LNG carriers with an average carrying capacity of about 150,000 cubic meters. GLOP was founded in 2014 and is based in Monaco.

The company's board of directors approved an increase in the quarterly dividend of 3.77% to 55¢ per share. All shareholders of record on February 8 can expect the dividend to be paid on February 13.

Penske Automotive (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 also distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services in Australia and New Zealand.

The board of directors of PAG has declared a quarterly dividend of 38¢ per share. The new dividend is 2.70% above the prior dividend of 37¢ per share. PAG will trade ex-dividend on February 8. The dividend is payable on March 1 to shareholders of record on February 11.

NiSource (NI)

Founded in 1912 and headquartered in Merrillville, Indiana, NI is an energy holding company that provides natural gas, electricity, and other products and to customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana, and Massachusetts. NI was formerly known as NIPSCO Industries, Inc., and changed its name to NiSource, Inc. in April 1999.

Recently, NI increased its quarterly dividend by 2.56% to 20¢ per share. The stock will trade ex-dividend on February 8, and shareholders can expect to receive the new dividend on February 20.

Simon Property (SPG)

SPG is a self-administered and self-managed real estate investment trust. The company owns, develops, and manages retail real estate properties such as regional malls, premium outlets, and community and lifestyle centers. SPG was founded in 1960 and is based in Indianapolis, Indiana, with an additional office in New York City.

On February 1, the board of directors declared a quarterly dividend of $2.05 per share. The new dividend represents an increase of 2.50%. The new dividend is payable on February 28 to shareholders of record on February 14. The ex-dividend date will be February 13.

Polaris Industries (PII)

PII designs, engineers, manufactures and markets off-road vehicles, snowmobiles, motorcycles, and small vehicles. Products are sold through dealers and distributors located in the United States, Canada, Europe, Australia, and Mexico. The company also produces and supplies replacement parts for its product lines. PII was founded in 1954 and is headquartered in Medina, Minnesota.

On Thursday, January 31, the company increased its quarterly dividend by 1.67% to 61¢ per share. The dividend is payable on March 15 to shareholders of record on March 1. The stock will trade ex-dividend on February 28.

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, ANTM, PAG, and SPG.

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).

ANTM'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 ANTM in January 2010 would have returned 20.6% on an annualized basis (with dividends included).

PAG's price line is below the stock's normal P/E ratio and below the primary valuation line. The stock is trading at a discount to fair value. An investment in PAG in January 2010 would have returned 15% on an annualized basis (with dividends included).

SPG's price line is above the primary valuation line and below the stock's normal P/E ratio. The stock is trading at a discount to fair value. An investment in SPG in January 2010 would have returned 12.1% 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 the table lists ex-dividend dates for stocks in all sectors except the Industrials and Financials sectors. See Part 1 of this article for ex-dividend dates of stocks in those sectors.

Summary of Upcoming Ex-Dividend Dates: Dividend Increases: February 5-18, 2019

Company

Ticker

Yield

Recent

Price

Yrs

5-Yr

DGR

Next

Div.

Ex-Div

Date

Pay- able

Date

Apple

AAPL

1.75%

$166.52

7

10.80%

$2.92

02/08

02/14

American Electric Power

AEP

3.39%

$79.11

9

5.30%

$2.68

02/07

03/08

Allete

ALE

3.12%

$75.42

8

3.30%

$2.35

02/14

03/01

Amgen

AMGN

3.10%

$187.07

9

22.90%

$5.80

02/14

03/08

Aramark

ARMK

1.32%

$33.26

5

N/A

$0.44

02/13

02/28

American Water Works

AWK

1.91%

$95.21

11

10.30%

$1.82

02/06

03/01

American States Water

AWR

1.64%

$66.90

64

6.90%

$1.10

02/14

03/01

Booz Allen Hamilton

BAH

1.78%

$51.59

7

14.30%

$0.92

02/13

02/28

Bunge

BG

3.64%

$54.96

18

11.00%

$2.00

02/15

03/04

Black Hills

BKH

3.01%

$67.08

48

4.90%

$2.02

02/14

03/01

Costco Wholesale

COST

1.08%

$210.27

15

12.90%

$2.28

02/07

02/22

Chevron

CVX

4.02%

$118.37

32

2.80%

$4.76

02/14

03/11

California Water Service

CWT

1.62%

$48.69

52

3.30%

$0.79

02/08

02/22

Dolby Laboratories

DLB

1.19%

$64.08

5

N/A

$0.76

02/11

02/21

Duke Energy

DUK

4.23%

$87.78

14

3.30%

$3.71

02/14

03/18

Consolidated Edison

ED

3.86%

$76.68

45

3.10%

$2.96

02/12

03/15

Enbridge

ENB

7.98%

$37.00

23

10.90%

$2.95

02/14

03/01

HP Fuller

FUL

1.23%

$50.30

49

9.80%

$0.62

02/06

02/21

Helmerich & Payne

HP

5.02%

$56.55

46

16.80%

$2.84

02/07

03/01

International Business Machines

IBM

4.68%

$134.10

23

10.90%

$6.28

02/07

03/09

Summit Hotel Properties

INN

6.49%

$11.10

5

9.90%

$0.72

02/13

02/28

KLA-Tencor

KLAC

2.80%

$106.96

9

10.80%

$3.00

02/14

03/01

Kroger

KR

2.00%

$28.07

13

11.50%

$0.56

02/14

03/01

National Instruments

NATI

2.24%

$44.60

6

10.40%

$1.00

02/08

03/04

NiSource

NI

2.99%

$26.79

7

15.20%

$0.80

02/08

02/20

Neenah Paper

NP

2.59%

$69.43

8

18.60%

$1.80

02/14

03/04

Nexstar Media

NXST

2.14%

$84.07

7

25.60%

$1.80

02/07

02/22

Penske Automotive

PAG

3.20%

$47.44

9

18.00%

$1.52

02/08

03/01

Papa John's International

PZZA

2.34%

$38.51

6

29.20%

$0.90

02/08

02/22

ResMed

RMD

1.58%

$93.62

7

11.40%

$1.48

02/06

03/14

Starbucks

SBUX

2.11%

$68.11

9

24.30%

$1.44

02/06

02/22

J.M. Smucker

SJM

3.27%

$103.83

21

8.20%

$3.40

02/14

03/01

SJW

SJW

2.03%

$59.03

51

8.90%

$1.20

02/08

03/01

Southern

SO

4.95%

$48.49

18

3.40%

$2.40

02/15

03/06

Simon Property

SPG

4.58%

$179.21

9

12.60%

$8.20

02/13

02/28

Southwest Gas

SWX

2.66%

$78.11

12

9.80%

$2.08

02/14

03/01

TJX

TJX

1.60%

$48.90

22

21.90%

$0.78

02/13

03/07

Valero Energy

VLO

4.22%

$85.26

9

30.90%

$3.60

02/12

03/05

Walgreens Boots Alliance

WBA

2.45%

$71.88

43

7.30%

$1.76

02/14

03/12

WEC Energy

WEC

3.24%

$72.81

16

8.90%

$2.36

02/13

03/01

WestRock

WRK

4.70%

$38.70

10

27.00%

$1.82

02/14

02/25

Xilinx

XLNX

1.29%

$112.02

16

8.10%

$1.44

02/05

02/21

Exxon Mobil

XOM

4.32%

$75.92

36

5.60%

$3.28

02/08

03/11

Thanks for reading!

Disclosure: I am/we are long SPG. 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.