Dividend Increases: August 5-9, 2019

|
Includes: BMI, CCOI, IFF, MCHP, RBA, SWKS
by: FerdiS
Summary

This article series provides a weekly summary of dividend increase announcements.

One way to identify dividend growth stocks for further analysis is to monitor dividend increase announcements.

As a bonus, I include ex-dividend dates for the next two weeks.

Monitoring dividend increases for stocks on my watch list helps me identify candidates for further analysis. Companies can only raise their dividends regularly and sustainably if they grow earnings sufficiently

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, 6 companies that announced dividend increases passed these screens.

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: August 5-9, 2019

Previous Post: Dividend Increases: July 29-August 2, 2019

Skyworks Solutions (SWKS)

SWKS, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property. The company provides its products for use in the aerospace, automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet, and wearable markets. SWKS was founded in 1962 and is headquartered in Woburn, Massachusetts.

Recently, SWKS increased its quarterly dividend to 44¢ per share, an increase of 15.79% over the prior dividend of 38¢ per share. The dividend is payable September 17, with an ex-dividend date of August 26.

Badger Meter (BMI)

BMI provides flow measurement, control, and communications solutions. The company offers mechanical and electronic water meters, and valves and meters to measure and control materials flowing through pipes and pipelines. It also provides flow instrumentation technologies to original equipment manufacturers. BMI was founded in 1905 and is headquartered in Milwaukee, Wisconsin.

The company increased its quarterly dividend by 13.33%, from 15¢ per share to 17¢ per share. The dividend is payable on September 13 to shareholders of record on August 30. The ex-dividend date is August 29.

Ritchie Bros. Auctioneers (RBA)

Established in 1958 and headquartered in Burnaby, Canada, RBA is the world’s largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestry, marine, real estate, and other industries. The company operates a network of auction locations that conduct live and unreserved auctions with onsite and online bidding.

The company announced an increase of its quarterly dividend of 11.11% to 20¢ per share. The stock will trade ex-dividend on August 27, and shareholders can expect to receive the new dividend on September 18.

Cogent Communications Holdings (CCOI)

Founded in 1999 and headquartered in Washington, D.C., CCOI provides high-speed Internet access and Internet protocol communications services to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, and Asia. CCOI offers bandwidths up to 100 Gigabits per second.

The company declared a quarterly dividend of C62¢ per share, an increase of 3.33% over the prior quarterly dividend. CCOI will trade ex-dividend on August 22. The dividend is payable on September 9, to shareholders of record on August 23.

International Flavors & Fragrances (IFF)

Founded in 1833 and headquartered in New York, New York, IFF creates, manufactures, and supplies flavors and fragrances for use in a variety of consumer products. IFF provides flavor compounds to the food and beverage industries, and fragrance compounds and ingredients to manufacturers of cosmetic and personal care products.

Recently, IFF increased its quarterly dividend from 73¢ per share to 75¢ per share, an increase of 2.74%. The dividend is payable on October 4 to shareholders of record on September 23. IFF will trade ex-dividend on September 20.

Microchip Technology (MCHP)

MCHP develops, manufactures, and sells specialized semiconductor products for a wide range of embedded control applications. The company sells its products through a network of direct sales personnel and distributors in the Americas, Europe, and Asia. MCHP was founded in 1989 and is headquartered in Chandler, Arizona.

Recently, MCHP increased its quarterly dividend by 0.14% to 36.6¢ per share. The new dividend is payable on September 4 to shareholders of record on August 21, with an ex-dividend date of August 20.

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: SWKS, BMI, and IFF.

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.)

SWKS's price line (black) is below the primary valuation line (orange) and below the stock's normal P/E ratio (blue). The stock is trading at a discount to fair value. An investment in SWKS in October 2009 would have returned 20.5% on an annualized basis (with dividends included).

BMI'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 BMI in January 2010 would have returned 11.8% on an annualized basis (with dividends included).

IFF'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 IFF in January 2010 would have returned 13.5% 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.

Summary of Upcoming Ex-Dividend Dates: August 13-26, 2019

Company

Ticker

Yield

Recent

Price

Yrs

5-Yr

DGR

Next

Div.

Ex-Div

Date

Pay- able

Date

AmerisourceBergen

ABC

1.83%

$87.29

14

12.20%

$1.60

08/16

09/03

Arbor Realty Trust

ABR

9.11%

$12.73

8

14.40%

$1.16

08/14

09/03

Archer-Daniels-Midland

ADM

3.73%

$37.51

44

12.00%

$1.40

08/21

09/12

Aflac Inc.

AFL

2.04%

$52.93

37

7.90%

$1.08

08/20

09/03

Assured Guaranty Ltd.

AGO

1.59%

$45.18

8

9.90%

$0.72

08/20

09/04

Applied Industrial Technologies

AIT

2.27%

$54.55

10

5.50%

$1.24

08/14

08/30

Apartment Investment and Management Co.

AIV

3.05%

$51.19

9

9.60%

$1.56

08/15

08/30

Assurant

AIZ

1.97%

$122.07

15

18.90%

$2.40

08/23

09/16

Allete

ALE

2.75%

$85.36

9

3.30%

$2.35

08/14

09/01

Alaska Air

ALK

2.26%

$62.02

7

45.00%

$1.40

08/19

09/05

Autoliv

ALV

3.67%

$67.50

9

4.20%

$2.48

08/20

09/05

Amgen

AMGN

2.79%

$207.77

9

22.90%

$5.80

08/14

09/06

Aramark

ARMK

1.17%

$37.49

5

N/A

$0.44

08/14

08/29

Atmos Energy

ATO

1.93%

$108.93

35

6.90%

$2.10

08/23

09/09

Avista Corp.

AVA

3.38%

$45.87

17

4.10%

$1.55

08/21

09/13

American States Water Company

AWR

1.43%

$85.32

64

6.90%

$1.22

08/14

09/03

Barnes Group

B

1.43%

$44.72

8

6.60%

$0.64

08/23

09/10

Booz Allen Hamilton

BAH

1.26%

$73.26

8

14.30%

$0.92

08/13

08/30

BB&T Corp.

BBT

3.85%

$46.74

9

10.50%

$1.80

08/13

09/03

Brunswick Corp.

BC

1.77%

$47.41

6

50.80%

$0.84

08/19

09/13

Bunge

BG

3.67%

$54.47

18

11.00%

$2.00

08/19

09/03

Black Hills Corp.

BKH

2.65%

$76.34

48

4.90%

$2.02

08/16

09/01

Cheesecake Factory

CAKE

3.70%

$38.95

7

19.00%

$1.44

08/13

08/27

Cogent Communications

CCOI

4.36%

$56.84

8

22.80%

$2.48

08/22

09/09

CDW Corp.

CDW

1.05%

$112.89

6

85.20%

$1.18

08/23

09/10

Church & Dwight

CHD

1.18%

$77.11

23

9.30%

$0.91

08/14

09/03

Cummins

CMI

3.53%

$148.39

14

14.60%

$5.24

08/20

09/03

CenterPoint Energy

CNP

4.17%

$27.59

14

6.00%

$1.15

08/14

09/12

Core-Mark Holding Company

CORE

1.31%

$33.56

8

15.70%

$0.44

08/21

09/13

Carlisle Companies Inc.

CSL

1.43%

$140.20

42

12.90%

$2.00

08/19

09/03

Chevron

CVX

3.91%

$121.77

32

2.80%

$4.76

08/16

09/10

Discover Financial Services

DFS

2.14%

$82.23

9

15.20%

$1.76

08/21

09/05

Duke Energy Corp.

DUK

4.23%

$89.39

15

3.30%

$3.78

08/15

09/16

Consolidated Edison

ED

3.39%

$87.38

45

3.10%

$2.96

08/13

09/16

Emerson Electric

EMR

3.31%

$59.18

62

3.20%

$1.96

08/15

09/10

Equinix

EQIX

1.77%

$555.76

5

N/A

$9.84

08/20

09/18

Expedia

EXPE

1.06%

$128.53

8

17.20%

$1.36

08/21

09/12

FLIR Systems

FLIR

1.42%

$47.91

9

12.20%

$0.68

08/22

09/06

Gildan Activewear

GIL

1.44%

$37.23

9

20.00%

$0.54

08/14

09/09

Healthcare Services Group

HCSG

3.42%

$23.27

17

2.80%

$0.80

08/22

09/27

HNI Corp.

HNI

3.86%

$31.59

9

4.00%

$1.22

08/15

09/03

Home Bancshares

HOMB

2.86%

$18.20

9

26.00%

$0.52

08/13

09/04

Honeywell International

HON

1.97%

$166.12

8

12.70%

$3.28

08/15

09/06

The Hershey Co.

HSY

1.98%

$156.24

10

8.80%

$3.09

08/22

09/16

Summit Hotel Properties

INN

6.29%

$11.45

5

9.90%

$0.72

08/15

08/30

International Paper Co.

IP

5.14%

$38.90

9

9.30%

$2.00

08/14

09/16

Invesco

IVZ

7.80%

$15.89

10

7.00%

$1.24

08/14

09/03

Johnson & Johnson

JNJ

2.87%

$132.44

57

6.40%

$3.80

08/26

09/10

KeyCorp

KEY

4.57%

$16.18

9

21.30%

$0.74

08/26

09/13

KLA Corp.

KLAC

2.21%

$135.79

9

10.80%

$3.00

08/14

09/03

Kroger

KR

2.76%

$23.20

14

11.50%

$0.64

08/14

09/01

Littelfuse

LFUS

1.24%

$155.26

9

13.80%

$1.92

08/21

09/05

Eli Lilly

LLY

2.28%

$112.95

5

2.80%

$2.58

08/14

09/10

Lindsay Corp.

LNN

1.38%

$89.69

16

20.00%

$1.24

08/15

08/30

Southwest Airlines

LUV

1.44%

$50.12

8

34.40%

$0.72

08/20

09/11

Macerich Co.

MAC

9.95%

$30.16

9

4.70%

$3.00

08/16

09/06

Main Street Capital

MAIN

5.86%

$41.95

9

4.30%

$2.46

08/19

09/16

Marriott International

MAR

1.47%

$130.99

10

19.50%

$1.92

08/21

09/30

Microchip Technology

MCHP

1.67%

$87.49

18

0.60%

$1.46

08/20

09/04

Marcus Corp.

MCS

1.78%

$35.92

6

12.00%

$0.64

08/23

09/16

Magna International

MGA

2.94%

$49.68

9

15.60%

$1.46

08/22

09/06

Mobile Mini

MINI

3.45%

$31.84

6

N/A

$1.10

08/13

08/28

MKS Instruments

MKSI

1.07%

$74.56

8

4.00%

$0.80

08/23

09/06

3M

MMM

3.53%

$163.01

61

16.50%

$5.76

08/15

09/12

Marathon Petroleum Corp.

MPC

4.57%

$46.38

9

19.00%

$2.12

08/20

09/10

MSA Safety Inc.

MSA

1.66%

$101.18

48

4.80%

$1.68

08/19

09/10

MSCI Inc.

MSCI

1.22%

$223.49

5

N/A

$2.72

08/15

08/30

Middlesex Water Company

MSEX

1.61%

$59.57

46

3.90%

$0.96

08/14

09/03

Microsoft

MSFT

1.34%

$137.22

17

12.10%

$1.84

08/14

09/12

Nielsen Holdings

NLSN

6.63%

$21.13

6

14.10%

$1.40

08/21

09/05

Neenah Paper

NP

2.70%

$66.79

9

18.60%

$1.80

08/15

09/04

Oshkosh Corp.

OSK

1.50%

$72.18

6

45.90%

$1.08

08/16

09/03

Otter Tail Corp.

OTTR

2.71%

$51.59

6

2.40%

$1.40

08/14

09/10

PACCAR Inc.

PCAR

1.98%

$64.81

9

6.40%

$1.28

08/13

09/04

Provident Financial Services

PFS

3.90%

$23.59

9

7.90%

$0.92

08/14

08/30

Pool Corp.

POOL

1.12%

$196.05

9

18.70%

$2.20

08/14

08/29

Primerica

PRI

1.22%

$111.44

10

17.80%

$1.36

08/20

09/13

Prudential Financial

PRU

4.80%

$83.31

11

15.80%

$4.00

08/19

09/12

Phillips 66

PSX

3.66%

$98.27

8

18.50%

$3.60

08/19

09/03

Ryder System

R

4.63%

$48.33

15

10.30%

$2.24

08/16

09/20

Robert Half International

RHI

2.20%

$56.29

16

11.80%

$1.24

08/22

09/16

ResMed

RMD

1.17%

$132.85

8

11.40%

$1.56

08/14

09/19

Reliance Steel & Aluminum Co.

RS

2.25%

$97.83

9

9.70%

$2.20

08/15

09/06

Sandy Spring Bancorp

SASR

3.50%

$34.30

9

11.40%

$1.20

08/13

08/21

Sabra Health Care REIT

SBRA

8.43%

$21.34

8

5.80%

$1.80

08/19

08/30

Southside Bancshares

SBSI

3.71%

$33.42

25

12.10%

$1.24

08/21

09/05

Selective Insurance Group

SIGI

1.00%

$80.12

5

7.30%

$0.80

08/14

09/03

J.M. Smucker Company

SJM

3.13%

$112.64

22

8.20%

$3.52

08/15

09/03

Scotts Miracle-Gro

SMG

2.11%

$109.89

9

7.20%

$2.32

08/26

09/10

Standard Motor Products

SMP

2.07%

$44.44

10

13.80%

$0.92

08/14

09/03

Snap-on Inc.

SNA

2.49%

$152.44

9

16.60%

$3.80

08/19

09/10

Southern Company

SO

4.23%

$58.67

19

3.40%

$2.48

08/16

09/06

Simon Property Group

SPG

5.49%

$153.11

10

12.60%

$8.40

08/15

08/30

Skyworks Solutions

SWKS

2.29%

$76.94

5

N/A

$1.76

08/26

09/17

Schweitzer-Mauduit International

SWM

5.28%

$33.34

7

6.50%

$1.76

08/22

09/20

Southwest Gas Holdings

SWX

2.45%

$89.16

13

9.80%

$2.18

08/14

09/03

TE Connectivity

TEL

2.07%

$88.74

7

12.40%

$1.84

08/22

09/06

Target Corp.

TGT

3.24%

$81.60

52

9.80%

$2.64

08/20

09/10

TJX Companies

TJX

1.76%

$52.14

23

21.90%

$0.92

08/14

09/05

Timken Company

TKR

2.70%

$41.46

5

3.80%

$1.12

08/20

09/04

Thomson Reuters Corp.

TRI

2.13%

$67.46

26

1.30%

$1.44

08/21

09/16

Tractor Supply Company

TSCO

1.36%

$103.15

10

19.60%

$1.40

08/23

09/10

United Parcel Service

UPS

3.33%

$115.33

10

8.00%

$3.84

08/16

09/04

United Technologies

UTX

2.27%

$129.29

25

5.30%

$2.94

08/15

09/10

Walgreens Boots Alliance

WBA

3.51%

$52.08

44

7.30%

$1.83

08/19

09/12

WEC Energy Group

WEC

2.61%

$90.27

16

8.90%

$2.36

08/13

09/01

Aqua America

WTR

2.14%

$43.87

27

7.70%

$0.94

08/15

09/01

Zions Bancorporation

ZION

3.32%

$41.02

7

51.60%

$1.36

08/14

08/22

Thanks for reading and 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.