Dividend Increases: June 3-7, 2019

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Includes: ARE, CBRL, TIF, UNH
by: FerdiS
Summary

This article summarizes dividend increases from last week.

I monitor dividend increases to find interesting stocks for further analysis.

One of my stocks announced an impressive 20% increase.

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 their dividend payments show confidence in future earnings growth potential.

I use the CCC List as a starting point and apply 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

In the last week, four companies that announced dividend increases passed these screens, including one of the stocks I own.

The table below presents a summary of these increases.

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: June 3-7, 2019

Previous Post: Dividend Increases: May 27-31, 2019

The highlighted stock is one I own in my portfolio.

UnitedHealth (UNH)

Founded in 1974 and based in Minnetonka, Minnesota, UNH is a diversified health and well-being company with core capabilities in clinical expertise, advanced technology, and data and health information. UNH provides medical benefits to customers in the United States and in more than 125 other countries.

On June 5, the company declared a dividend of $1.08 per share. The new dividend represents a 20.00% increase. The dividend is payable on July 25 to shareholders of record at the close of business on June 17.

Tiffany (TIF)

TIF is a holding company founded in 1837 and headquartered in New York, New York. Through its subsidiaries, the company designs, manufactures, and retails jewelry worldwide. It also sells timepieces, leather goods, sterling silverware, china, crystal, stationery, fragrances, and accessories. TIF produces jewelry in New York, Rhode Island and Kentucky, and silver holloware in Rhode Island.

On Tuesday, June 4, the company increased its quarterly dividend by 5.45% to 58¢ per share. TIF will trade ex-dividend on June 19. The dividend is payable on July 10, to shareholders of record on June 20.

Cracker Barrel Old Country Store (CBRL)

Founded in 1969 and based in Lebanon, Tennessee, CBRL develops and operates the Cracker Barrel Old Country Store concept in the USA. Each CBRL store consists of a restaurant and a gift shop. The restaurants provide breakfast, lunch, and dinner, while the gift shops offer various decorative and functional items, along with candies and food items.

The company announced an increase of its quarterly dividend of 4.00% to $1.30 per share. The ex-dividend date is July 18 and the dividend will be paid on July 2 to shareholders of record on July 19.

Alexandria Real Estate Equities (ARE)

ARE is a self-administered and self-managed REIT engaged in the ownership, operation, management, development, acquisition, and redevelopment of properties for the life sciences industry. Its properties consist of buildings containing scientific research and development laboratories, and other improvements. ARE was founded in 1993 and is based in Pasadena, California.

Recently, ARE increased its quarterly dividend from 97¢ per share to $1.00 per share, an increase of 3.09%. The dividend is payable on July 15 to shareholders of record at the close of business on June 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, UNH, TIF, and CBRL.

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).

UNH'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 UNH in January 2009 would have returned 24.5% on an annualized basis (with dividends included).

TIF's price line is below the stock's normal P/E ratio but above the primary valuation line. The stock is trading at about fair value. An investment in TIF in February 2009 would have returned 16.9% on an annualized basis (with dividends included).

CBRL'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 CBRL in August 2008 would have returned 21.2% 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.

Summary of Upcoming Ex-Dividend Dates: June 11-24, 2019

Company

Ticker

Yield

Recent

Price

Yrs

5-Yr

DGR

Next

Div.

Ex-Div

Date

Pay- able

Date

Ameren

AEE

2.51%

$75.85

5

2.90%

$1.90

06/11

06/28

HP

HPQ

3.23%

$19.85

9

16.30%

$0.64

06/11

07/03

J & J Snack Foods

JJSF

1.22%

$163.58

15

23.00%

$2.00

06/11

07/03

Kohl's

KSS

5.42%

$49.48

9

11.80%

$2.68

06/11

06/26

Lam Research

LRCX

2.29%

$191.90

5

N/A

$4.40

06/11

07/10

PS Business Parks

PSB

2.51%

$167.24

5

16.60%

$4.20

06/11

06/27

SEI Investments

SEIC

1.20%

$54.88

28

11.40%

$0.66

06/11

06/20

STERIS

STE

0.97%

$140.01

14

10.20%

$1.36

06/11

06/28

Texas Roadhouse

TXRH

2.15%

$55.92

9

15.80%

$1.20

06/11

06/28

American Assets Trust

AAT

2.42%

$46.20

8

5.10%

$1.12

06/12

06/27

Best Buy

BBY

3.04%

$65.79

16

21.50%

$2.00

06/12

07/05

Donaldson

DCI

1.69%

$49.63

32

8.40%

$0.84

06/12

06/28

Franco-Nevada

FNV

1.31%

$76.50

12

5.70%

$1.00

06/12

06/27

Mercury General

MCY

4.20%

$59.78

32

0.40%

$2.51

06/12

06/27

MDU Resources

MDU

3.15%

$25.76

28

2.70%

$0.81

06/12

07/01

Medical Properties Trust

MPW

5.51%

$18.15

5

4.40%

$1.00

06/12

07/11

Prologis

PLD

2.72%

$77.95

6

11.40%

$2.12

06/12

06/28

Retail Opportunity Investments

ROIC

4.66%

$16.93

10

5.40%

$0.79

06/12

06/27

Automatic Data Processing

ADP

1.88%

$167.90

44

11.70%

$3.16

06/13

07/01

Albemarle

ALB

2.10%

$70.10

25

6.70%

$1.47

06/13

07/01

Allegion

ALLE

1.03%

$105.30

6

N/A

$1.08

06/13

06/28

AVX

AVX

2.90%

$15.86

9

5.60%

$0.46

06/13

06/28

Booz Allen Hamilton

BAH

1.39%

$66.26

8

14.30%

$0.92

06/13

06/28

Big Lots

BIG

4.24%

$28.28

5

N/A

$1.20

06/13

06/28

Broadridge Financial Solutions

BR

1.47%

$132.38

12

16.10%

$1.94

06/13

07/03

BancorpSouth Bank

BXS

2.40%

$28.34

6

49.10%

$0.68

06/13

07/01

Community Bank System

CBU

2.35%

$64.62

26

4.90%

$1.52

06/13

07/10

Crown Castle International

CCI

3.34%

$134.62

5

N/A

$4.50

06/13

06/28

Comerica

CMA

3.75%

$71.40

10

22.80%

$2.68

06/13

07/01

Chesapeake Utilities

CPK

1.74%

$93.26

16

6.50%

$1.62

06/13

07/05

CenterState Bank

CSFL

1.93%

$22.84

5

58.50%

$0.44

06/13

06/28

DICK's Sporting Goods

DKS

3.11%

$35.42

5

12.50%

$1.10

06/13

06/28

Digital Realty Trust

DLR

3.72%

$116.09

15

4.90%

$4.32

06/13

06/28

El Paso Electric

EE

2.35%

$65.48

9

6.20%

$1.54

06/13

06/28

Extra Space Storage

EXR

3.30%

$109.01

10

18.30%

$3.60

06/13

06/28

FBL Financial

FFG

3.03%

$63.28

9

28.80%

$1.92

06/13

06/28

First Horizon National

FHN

3.93%

$14.27

8

23.00%

$0.56

06/13

07/01

Fidelity National Financial

FNF

3.11%

$39.83

8

23.00%

$1.24

06/13

06/28

GATX

GATX

2.44%

$75.37

9

7.30%

$1.84

06/13

06/30

Gilead Sciences

GILD

3.86%

$65.32

5

N/A

$2.52

06/13

06/27

Gaming and Leisure Properties

GLPI

6.92%

$39.32

5

N/A

$2.72

06/13

06/28

Hillenbrand

HI

2.13%

$39.41

12

1.20%

$0.84

06/13

06/28

Horace Mann Educators

HMN

2.77%

$41.57

10

7.90%

$1.15

06/13

06/28

Intercontinental Exchange

ICE

1.28%

$85.83

7

49.20%

$1.10

06/13

06/28

Coca-Cola

KO

3.13%

$51.20

57

6.90%

$1.60

06/13

07/01

Lamar Advertising

LAMR

4.83%

$79.44

6

N/A

$3.84

06/13

06/28

Leggett & Platt

LEG

4.23%

$37.85

48

4.80%

$1.60

06/13

07/15

Methanex

MEOH

3.30%

$43.65

9

11.00%

$1.44

06/13

06/30

Altria

MO

6.25%

$51.24

49

9.70%

$3.20

06/13

07/10

Motorola Solutions

MSI

1.41%

$162.19

9

13.80%

$2.28

06/13

07/15

Nasdaq

NDAQ

1.95%

$96.55

8

26.70%

$1.88

06/13

06/28

Northern Trust

NTRS

2.68%

$89.56

8

9.70%

$2.40

06/13

07/01

NorthWestern

NWE

3.16%

$72.80

15

7.70%

$2.30

06/13

06/28

Omnicom

OMC

3.29%

$78.93

10

9.90%

$2.60

06/13

07/12

Prosperity Bancshares

PB

2.42%

$67.88

20

10.90%

$1.64

06/13

07/01

Packaging Corp. Of America

PKG

3.33%

$95.03

8

15.80%

$3.16

06/13

07/15

PolyOne

POL

2.86%

$27.31

9

24.90%

$0.78

06/13

07/10

Service Corp. International

SCI

1.58%

$45.56

9

20.30%

$0.72

06/13

06/28

TriCo Bancshares

TCBK

1.98%

$38.30

6

10.80%

$0.76

06/13

06/28

Taubman Centers

TCO

6.44%

$41.90

10

5.50%

$2.70

06/13

06/28

Telephone and Data Systems

TDS

2.19%

$30.13

45

4.60%

$0.66

06/13

06/28

T. Rowe Price

TROW

2.83%

$107.33

33

13.00%

$3.04

06/13

06/28

United Bankshares

UBSI

3.61%

$37.68

44

1.70%

$1.36

06/13

07/01

United Community Banks

UCBI

2.45%

$27.75

6

N/A

$0.68

06/13

07/05

UGI

UGI

2.25%

$53.25

32

6.70%

$1.20

06/13

07/01

Worthington Industries

WOR

2.56%

$35.92

8

9.50%

$0.92

06/13

06/28

WPP

WPP

7.84%

$63.16

9

11.50%

$4.95

06/13

07/08

Wyndham Destinations

WYND

4.21%

$42.71

10

10.30%

$1.80

06/13

06/28

Xcel Energy

XEL

2.73%

$59.27

16

6.40%

$1.62

06/13

07/20

DTE Energy

DTE

2.95%

$128.25

10

6.70%

$3.78

06/14

07/15

Eastman Chemical

EMN

3.42%

$72.51

9

13.30%

$2.48

06/14

07/05

Huntington Bancshares

HBAN

4.12%

$13.60

8

21.20%

$0.56

06/14

07/01

Iron Mountain

IRM

7.83%

$31.22

9

16.80%

$2.44

06/14

07/02

Merck

MRK

2.69%

$81.85

8

2.20%

$2.20

06/14

07/08

NewMarket

NEU

1.72%

$406.30

13

15.20%

$7.00

06/14

07/01

New Jersey Resources

NJR

2.40%

$48.70

23

6.50%

$1.17

06/14

07/01

Restaurant Brands International

QSR

2.99%

$66.98

5

N/A

$2.00

06/14

07/03

Simmons First National

SFNC

2.68%

$23.91

8

6.70%

$0.64

06/14

07/05

UnitedHealth

UNH

1.74%

$247.86

9

26.80%

$4.32

06/14

06/25

Altra Industrial Motion

AIMC

1.94%

$35.11

7

14.90%

$0.68

06/17

07/02

Main Street Capital

MAIN

7.38%

$40.65

9

4.30%

$3.00

06/17

06/25

Children's Place

PLCE

2.36%

$95.10

6

N/A

$2.24

06/17

06/28

Vector

VGR

15.78%

$10.14

20

4.70%

$1.60

06/17

06/27

American Tower

AMT

1.75%

$209.87

9

22.30%

$3.68

06/18

07/12

Amphenol

APH

0.97%

$94.93

7

26.70%

$0.92

06/18

07/11

Cincinnati Financial

CINF

2.18%

$102.68

59

4.90%

$2.24

06/18

07/15

Las Vegas Sands

LVS

5.30%

$58.08

8

16.50%

$3.08

06/18

06/27

Getty Realty

GTY

4.44%

$31.55

7

12.00%

$1.40

06/19

07/05

Synovus Financial

SNV

3.58%

$33.54

6

86.40%

$1.20

06/19

07/01

Tiffany

TIF

2.51%

$92.35

16

9.70%

$2.32

06/19

07/10

Chubb

CB

2.01%

$149.10

26

7.60%

$3.00

06/20

07/12

Federal Realty Investment Trust

FRT

3.12%

$130.74

51

6.20%

$4.08

06/20

07/15

Kite Realty Group Trust

KRG

8.27%

$15.35

5

5.80%

$1.27

06/20

06/28

Philip Morris International

PM

5.89%

$77.46

11

4.80%

$4.56

06/20

07/10

International Flavors & Fragrances

IFF

1.94%

$150.22

16

14.70%

$2.92

06/21

07/05

Portland General Electric

POR

2.82%

$54.64

14

5.20%

$1.54

06/24

07/15

QTS Realty Trust

QTS

3.88%

$45.39

6

N/A

$1.76

06/24

07/09

Toro

TTC

1.32%

$68.18

10

23.40%

$0.90

06/24

07/11

Thanks for reading and happy investing!

Disclosure: I am/we are long UNH. 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.