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Dividend Challenger Highlights: Week Of July 21

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Includes: A, ALG, BK, BMTC, BUSE, CSCO, CTO, DAL, DG, DHR, DIS, FCCO, FRC, GEO, GNTX, GS, HBAN, HOPE, HUM, IDCC, INGR, JOUT, KALU, KEY, LKFN, LSI, MBWM, MS, NRZ, NTAP, OVLY, PAG, PDCO, PKBK, PSXP, RVSB, SNX, SSD, UNB
by: Justin Law
Summary

A weekly summary of dividend activity for Dividend Challengers.

Companies which declared increased dividends.

Companies with upcoming ex-dividend dates.

Companies with upcoming pay dates.

Introduction

The Dividend Champions list is a monthly compilation of companies which have consistently increased their annual dividend payouts, and the latest edition may be found here. However, since this list is only produced once per month, the data in it can quickly get out of date. Furthermore, with close to 900 companies on the list, the sheer amount of data can quickly become overwhelming. In this weekly series, I highlight recent and upcoming dividend related activity for companies holding Challenger (5-9 years) status.

In the data presented below, Yield is forward annualized and Years reflects the up-to-date streak, including dividends declared since the last edition of the Dividend Champions list.

Dividend Increases

In the past week, the following companies declared dividends which were higher than their previous payouts.

Company

Symbol

Ex-Div

Pay

Old Rate

New Rate

Increase

Yield

Years

Bank of New York Mellon Corp.

(BK)

7/26

8/9

0.28

0.31

10.71%

2.74%

9

Bryn Mawr Bank Corp.

(BMTC)

7/31

9/1

0.25

0.26

4.00%

2.87%

9

Consolidated-Tomoka Land Co.

(CTO)

8/9

8/30

0.1

0.11

10.00%

0.70%

7

Goldman Sachs Group Inc.

(GS)

8/29

9/27

0.85

1.25

47.06%

2.34%

9

Huntington Bancshares Inc.

(HBAN)

9/16

10/1

0.14

0.15

7.14%

4.32%

9

KeyCorp

(KEY)

8/26

9/13

0.17

0.185

8.82%

4.24%

9

Mercantile Bank Corp.

(MBWM)

9/5

9/18

0.26

0.27

3.85%

3.38%

8

Morgan Stanley

(MS)

7/30

8/15

0.3

0.35

16.67%

3.15%

6

Penske Automotive Group Inc.

(PAG)

8/8

9/4

0.39

0.4

2.56%

3.63%

9

Phillips 66 Partners LP

(PSXP)

7/30

8/13

0.845

0.855

1.18%

6.61%

7

Last Chance to Buy

These companies have ex-dividend dates approaching. The following tables indicate the last day you can buy these stocks in order to be eligible for the upcoming dividend. Tables are sorted alphabetically by symbol.

Monday July 22 (Ex-Div 7/23)

None

Tuesday July 23 (Ex-Div 7/24)

Company

Symbol

Pay Date

Payout

Type

Price

Yield

Years

Delta Air Lines Inc.

(DAL)

8/15

0.4025

Increase

60.91

2.64%

7

First Republic Bank

(FRC)

8/8

0.19

No Change

97.04

0.78%

8

Kaiser Aluminum Corp.

(KALU)

8/15

0.6

No Change

95.63

2.51%

8

Lakeland Financial Corp.

(LKFN)

8/5

0.3

No Change

44.39

2.70%

8

Wednesday July 24 (Ex-Div 7/25)

Company

Symbol

Pay Date

Payout

Type

Price

Yield

Years

Hope Bancorp Inc.

(HOPE)

8/9

0.14

No Change

14.33

3.91%

7

Thursday July 25 (Ex-Div 7/26)

Company

Symbol

Pay Date

Payout

Type

Price

Yield

Years

Bank of New York Mellon Corp.

(BK)

8/9

0.31

Increase

45.27

2.74%

9

First Community Corp.

(FCCO)

8/12

0.11

No Change

19.66

2.24%

7

Oak Valley Bancorp

(OVLY)

8/9

0.135

No Change

19.19

1.41%

6

Union Bankshares Inc.

(UNB)

8/8

0.31

No Change

34.18

3.63%

7

Friday July 26 (Ex-Div 7/29)

None

Money on the Way

The following companies have dividend pay dates in the upcoming week (Tuesday through the following Monday). Check if you want your DRIPs to reinvest at these yields… or take the cash and go have a steak dinner!

Company

Symbol

Pay Date

Payout

Yield

Agilent Technologies Inc.

(A)

7/24

0.164

0.95%

Alamo Group Inc

(ALG)

7/29

0.12

0.49%

First Busey Corp.

(BUSE)

7/26

0.21

3.24%

Cisco Systems Inc.

(CSCO)

7/24

0.35

2.44%

Dollar General Corp.

(DG)

7/23

0.32

0.91%

Danaher Corp.

(DHR)

7/26

0.17

0.48%

Walt Disney Company

(DIS)

7/25

0.88

1.26%

GEO Group Inc.

(GEO)

7/26

0.48

11.14%

Gentex Corp.

(GNTX)

7/24

0.115

1.78%

Humana Inc.

(HUM)

7/26

0.55

0.78%

InterDigital Inc

(IDCC)

7/24

0.35

2.15%

Ingredion Inc.

(INGR)

7/25

0.625

3.09%

Johnson Outdoors Inc.

(JOUT)

7/25

0.14

0.81%

Life Storage Inc.

(LSI)

7/26

1

4.11%

New Residential Investment Corp.

(NRZ)

7/26

0.5

13.18%

NetApp Inc.

(NTAP)

7/24

0.48

3.23%

Patterson Companies Inc.

(PDCO)

7/26

0.26

5.13%

Parke Bancorp Inc.

(PKBK)

7/26

0.16

2.69%

Riverview Bancorp Inc

(RVSB)

7/23

0.045

2.19%

SYNNEX Corp.

(SNX)

7/26

0.375

1.57%

Simpson Manufacturing Co.

(SSD)

7/25

0.23

1.45%

Conclusion

I hope you found this article useful. Please let me know if you have any ideas for improving the format or data included in this series.

Disclosure: I am/we are long CSCO. 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.