20 Upcoming Dividend Increases

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Includes: CBT, CFR, CPF, CTWS, EVR, EXPD, FDS, GS, HY, ISCA, MAN, NC, NOC, OTEX, PRGO, RLI, SPY, UFCS, UFPI, WEYS, WTS
by: Dividend Derek
Summary

All stocks have at least five years of dividend growth history.

20 increases for next week (up from 9 last week).

An average increase of 8.67%, with eight having at least a 10% increase. Median increase of 8.72%.

Introduction

I'm a huge fan of dividend growth stocks and hope you are too. If you do, you are in the right place! I've compiled a list of stocks that are increasing their dividends next week. This gives investors an opportunity to start or add to a position to capture an upcoming payment. This can be especially important for retirees who live on dividend checks.

This list is a trimmed-down version only covering dividend increases. A full upcoming dividend calendar is always available here. If you know how this was built and the caveats, feel free to jump down to the lists themselves.

How It's Assembled

The information presented below was created by combining the "U.S. Dividend Champion" spreadsheet hosted here, with upcoming dividend information from Nasdaq. This meshes metrics about companies with dividend growth history with upcoming dividend payments (and whether those payments are increasing). These companies all have a minimum five-year dividend growth history.

What Is The Ex-Dividend Date?

The "ex-dividend" date is the day you are no longer entitled to the dividend or distribution. You need to have made your purchase by the preceding business day. If the date is a Tuesday, you need to have purchased (or already owned) shares by market close on Monday. Be aware that for any stock going ex-dividend on a Monday (or Tuesday, if Monday may be a holiday), you must own it by the prior Friday.

Dividend Streak Categories

Here are the definitions of the streak categories as I'll be using them throughout the piece:

  • King: 50+ years
  • Champion/Aristocrat: 25+ years
  • Contender: 10-24 years
  • Challenger: 5+ years

Fun Facts

Category Count
King 0
Champion 5
Contender 6
Challenger 9

The Main List

The data is sorted by the ex-dividend day (ascending) and then the streak (descending):

Name Ticker Streak Forward Yield Ex-Div Date Increase Percent Streak Category
Goldman Sachs Group, Inc. (The) (GS) 9 1.74 29-May-19 6.25% Challenger
RLI Corp. Common Stock (DE) (RLI) 43 1.07 30-May-19 4.55% Champion
Weyco Group, Inc. (WEYS) 37 3.64 30-May-19 4.35% Champion
NACCO Industries, Inc. (NC) 33 1.45 30-May-19 15.15% Champion
Cullen/Frost Bankers, Inc. (CFR) 26 2.9 30-May-19 5.97% Champion
FactSet Research Systems Inc. (FDS) 20 1.03 30-May-19 12.50% Contender
Perrigo Company plc Ordinary Shares (PRGO) 17 1.69 30-May-19 10.53% Contender
International Speedway Corporation - Class A Common Stock (ISCA) 14 1.09 30-May-19 4.26% Contender
Evercore Inc. Class A (EVR) 13 2.81 30-May-19 16.00% Contender
Hyster-Yale Materials Handling, Inc. Class A (HY) 7 2.71 30-May-19 2.26% Challenger
Cabot Corporation (CBT) 7 3.27 30-May-19 6.06% Challenger
Universal Forest Products, Inc. (UFPI) 7 1.15 30-May-19 11.11% Challenger
Central Pacific Financial Corp New (CPF) 7 3.17 30-May-19 9.52% Challenger
United Fire Group, Inc (UFCS) 6 2.76 30-May-19 6.45% Challenger
Watts Water Technologies, Inc. Class A (WTS) 6 1.12 30-May-19 9.52% Challenger
Open Text Corporation - Common Shares (OTEX) 6 1.71 30-May-19 15.02% Challenger
Connecticut Water Service, Inc. (CTWS) 49 1.87 31-May-19 4.80% Champion
Expeditors International of Washington, Inc. (EXPD) 24 1.37 31-May-19 11.11% Contender
Northrop Grumman Corporation (NOC) 15 1.67 31-May-19 10.00% Contender
ManpowerGroup (MAN) 8 2.38 31-May-19 7.92% Challenger

Field Definitions

Streak: This is years of dividend growth history sourced from the U.S. Dividend Champions spreadsheet.

Forward Yield: This is the new payout rate divided by the current share price.

Ex-Dividend Date: This is the date before which you need to own the stock.

Increase Percent: This is the amount by which the dividend is being increased.

Streak Category: This is the overall dividend history classification of the company.

Show Me The Money

Here's a table mapping the new rates versus the old rates. It also reiterates the increase in percentage. This table is sorted the same way as the first table (ex-dividend day ascending, dividend streak descending).

Ticker Old Rate New Rate Increase Percent
GS 0.8 0.85 6.25%
RLI 0.22 0.23 4.55%
WEYS 0.23 0.24 4.35%
NC 0.165 0.19 15.15%
CFR 0.67 0.71 5.97%
FDS 0.64 0.72 12.50%
PRGO 0.19 0.21 10.53%
ISCA 0.47 0.49 4.26%
EVR 0.5 0.58 16.00%
HY 0.31 0.317 2.26%
CBT 0.33 0.35 6.06%
UFPI 0.18 0.2 11.11%
CPF 0.21 0.23 9.52%
UFCS 0.31 0.33 6.45%
WTS 0.21 0.23 9.52%
OTEX 0.1518 0.1746 15.02%
CTWS 0.3125 0.3275 4.80%
EXPD 0.45 0.5 11.11%
NOC 1.2 1.32 10.00%
MAN 1.01 1.09 7.92%

Additional Metrics

Here are some additional metrics related to these companies, including yearly pricing action and the P/E ratio. This table is sorted in exactly the same way as the table above. The value investor may find stock ideas with those companies near their 52-week low. They may provide a larger margin of safety and inflated yield.

Ticker Current Price 52 Week Low 52 Week High PE Ratio % Off Low % Off High
GS 195.61 151.7 245.08 8.14 29% Off Low 19% Off High
RLI 86.09 64.16 86.43 32.95 32% Off Low New High
WEYS 26.4 26.17 39.93 12.7 New Low 29% Off High
NC 52.47 28.77 52.57 8.72 78% Off Low 1% Off High
CFR 97.78 81.87 119.13 13.9 19% Off Low 16% Off High
FDS 280.67 188.31 284.32 34.9 49% Off Low 0% Off High
PRGO 49.57 36.28 80.66 59.37 35% Off Low 38% Off High
ISCA 45.11 35.12 49.95 25.51 27% Off Low 9% Off High
EVR 82.45 64.37 117.49 10.58 28% Off Low 29% Off High
HY 46.81 46.09 76.79 33.44 0% Off Low 38% Off High
CBT 42.76 39.57 67.8 9.59 8% Off Low 36% Off High
UFPI 34.67 24.14 39.41 14.2 43% Off Low 11% Off High
CPF 29.01 23.23 30.82 13.89 24% Off Low 5% Off High
UFCS 47.82 40.86 58.53 47.47 16% Off Low 18% Off High
WTS 82.34 61.17 93.35 22.13 34% Off Low 11% Off High
OTEX 41.03 30.99 41.13 40.03 32% Off Low New High
CTWS 69.9 62.05 70.44 41.81 13% Off Low 0% Off High
EXPD 72.92 62.9 80.69 20.7 15% Off Low 9% Off High
NOC 316.54 223.63 340.14 16.37 41% Off Low 7% Off High
MAN 91.43 61.57 97.26 11.4 48% Off Low 5% Off High

Tickers By Yield (With Growth Rates)

Some investors are more interested in current yield, so this table is sorted descending by yield. This also includes some of the historical dividend growth rates as a bonus. Additionally, the "Chowder Rule" has been included, which is the current yield + five-year dividend growth rate.

Ticker Yield 1 Yr DG 3 Yr DG 5 Yr DG 10 Yr DG Chowder Rule
WEYS 3.64 3.4 4.4 5.2 6.1 8.5
CBT 3.27 4.8 14 10.3 6.1 13.5
CPF 3.17 17.1 17.9 38.7 1.6 41.8
CFR 2.9 14.7 7.1 5.4 4.5 8.3
EVR 2.81 33.8 18.2 15.9 14.7 18.7
UFCS 2.76 11 12.1 11.9 7.3 14.7
HY 2.71 2.5 2.9 4.3 7
MAN 2.38 8.6 8.1 17 10.6 19.4
CTWS 1.87 5.1 5.6 4.7 3.4 6.6
GS 1.74 8.6 7.3 9 8.4 10.7
OTEX 1.71 15 15 21.2 22.9
PRGO 1.69 18.8 15 16.1 14 17.8
NOC 1.67 20.5 14.9 14.6 12.7 16.3
NC 1.45 56.7 26.1 15.9 12.4 17.4
EXPD 1.37 7.1 7.7 8.4 10.9 9.8
UFPI 1.15 12.5 9.6 21.4 24.6 22.5
WTS 1.12 9.3 7.5 10.4 6.4 11.5
ISCA 1.09 9.3 21.8 16.4 14.6 17.5
RLI 1.07 4.8 5.1 5.4 6.1 6.5
FDS 1.03 13.8 13.2 12.8 14.2 13.8

Bonus Charts

This week I have an interesting company in Weyco. It is in the business of footwear (I had to look it up myself). It popped up for a few reasons, though don't take this as any kind of recommendation.

  • 37 years of dividend increases
  • Healthy forward yield of about 3.65%
  • 52-week low
  • "$265M market cap"

Note the small market cap and here is the latest research article on the company.

(Source)

Earnings have not made any consistent and meaningful increase over time, which would be a big strike. Earnings appear on track to beat the last peak back in 2006.

Weyco scores above average in all three categories, and the safety is benefited from having essentially no debt on the balance sheet.

(Source)

Increases have been at a mid-single-digit clip for the past decade with the recent 4.35% increase fitting nicely in there.

Ticker Yield 1 Yr DG 3 Yr DG 5 Yr DG 10 Yr DG Chowder Rule
WEYS 3.64 3.4 4.4 5.2 6.1 8.5

Running a stock return calculation against the S&P (SPY) since May of 2010, WEYS has majorly lagged the market (4.52% versus 13.75% annualized). The S&P actually paid out more in dividends over that time also. The investment results over time of WEYS (blue line) and SPY (black line) separated quickly and stayed that way over time.

(Courtesy: Custom Stock Alerts)

This has not been the most attractive investment to look at, and shares have underperformed. The opportunity here could be a trade; it does seem to be trading at one of the lowest PE ratios it has over the past decade, but consider this a starting point for more research.

(Source)

Conclusion

I hope you are able to find this information valuable. Let me know if you want to see additional data points or what may help make this more useful.

As always, do your due diligence on any stock before buying or selling. Happy investing!

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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.