Seeking Alpha

Dividend Increases: August 26-30, 2019

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Includes: EGP, LRCX
by: FerdiS
Summary

This weekly article series covers dividend increase announcements.

I like monitoring dividend increases because I consider stocks with regular dividend increases to be candidates for further analysis.

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

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

Recently, 2 companies that announced dividend increases passed these screens.

The following table presents a summary.

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 26-30, 2019

Previous Post: Dividend Increases: August 19-23, 2019

Lam Research (LRCX)

LRCX is a global supplier of wafer fabrication equipment and services to the semiconductor industry. The company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. Nearly every advanced chip is built with Lam technology. LRCX was founded in 1980 and is headquartered in Fremont, California.

The company's board of directors approved an increase in the quarterly dividend of 4.55% to $1.15 per share. The dividend is payable October 16, with an ex-dividend date of September 30.

EastGroup Properties (EGP)

EGP is an equity real estate investment trust focused on the development, acquisition, and operation of industrial properties in the United States. The company’s properties are located mainly in the states of Florida, Texas, Arizona, California, and North Carolina. EGP was founded in 1969 and is headquartered in Jackson, Mississippi.

Recently, the board of directors of EGP declared a quarterly dividend of 75¢ per share. The new dividend represents an increase of 4.17%. The dividend is payable on October 15 to shareholders of record on September 30.

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 this week's dividend raisers, LRCX and EGP.

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).

LRCX's price line (black) is below the primary valuation line (orange) and at the stock's normal P/E ratio (blue). The stock is trading at about fair value. An investment in LRCX in July 2010 would have returned 21.2% on an annualized basis (with dividends included).

EGP'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 fair value. An investment in EGP in January 2010 would have returned 14.9% 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: September 3-16, 2019

Company

Ticker

Yield

Recent

Price

Yrs

5-Yr

DGR

Next

Div.

Ex-Div

Date

Pay- able

Date

American Assets Trust

AAT

2.39%

$46.86

8

5.10%

$1.12

09/11

09/26

Automatic Data Processing

ADP

1.86%

$169.84

44

11.70%

$3.16

09/12

10/01

Ameren

AEE

2.46%

$77.15

5

2.90%

$1.90

09/10

09/30

Arthur J Gallagher

AJG

1.90%

$90.71

9

3.20%

$1.72

09/05

09/20

Air Lease

AL

1.25%

$41.54

7

39.80%

$0.52

09/12

10/04

Albemarle

ALB

2.38%

$61.73

25

6.70%

$1.47

09/12

10/01

Amerisafe

AMSF

1.46%

$68.70

7

22.40%

$1.00

09/05

09/20

Anthem

ANTM

1.22%

$261.52

9

14.90%

$3.20

09/09

09/25

Amphenol

APH

1.14%

$87.54

8

26.70%

$1.00

09/16

10/09

Avnet

AVT

2.01%

$41.89

7

21.10%

$0.84

09/10

09/25

Avery Dennison

AVY

2.01%

$115.57

9

12.00%

$2.32

09/03

09/18

Bank of America

BAC

2.62%

$27.51

6

68.30%

$0.72

09/05

09/27

Becton Dickinson

BDX

1.21%

$253.92

47

8.30%

$3.08

09/06

09/30

Blackrock

BLK

3.12%

$422.56

10

12.30%

$13.20

09/04

09/24

Broadridge Financial Solutions

BR

1.67%

$129.44

13

16.10%

$2.16

09/12

10/03

Bancorpsouth Bank

BXS

2.68%

$27.59

7

49.10%

$0.74

09/12

10/01

Commerce Bancshares

OTC:CBSH

1.82%

$57.07

51

5.90%

$1.04

09/05

09/23

Community Bank System

CBU

2.69%

$60.99

28

4.90%

$1.64

09/13

10/10

Crown Castle International

CCI

3.10%

$145.17

5

N/A

$4.50

09/12

09/30

CH Robinson Worldwide

CHRW

2.37%

$84.49

21

6.10%

$2.00

09/05

09/30

Comerica

CMA

4.35%

$61.65

10

22.80%

$2.68

09/12

10/01

CME

CME

1.38%

$217.29

9

9.20%

$3.00

09/09

09/25

CNO Financial

CNO

3.04%

$14.48

8

28.80%

$0.44

09/09

09/24

Chesapeake Utilities

CPK

1.71%

$94.58

16

6.50%

$1.62

09/12

10/07

CenterState Bank

CSFL

1.95%

$22.62

5

58.50%

$0.44

09/12

09/30

CSG Systems International

CSGS

1.65%

$53.88

7

13.30%

$0.89

09/12

09/27

Dominion Energy

D

4.73%

$77.63

16

8.20%

$3.67

09/05

09/20

Dick's Sporting Goods

DKS

3.23%

$34.04

5

12.50%

$1.10

09/12

09/27

Digital Realty Trust

DLR

3.49%

$123.63

15

4.90%

$4.32

09/12

09/30

Domino's Pizza

DPZ

1.15%

$226.84

7

22.40%

$2.60

09/12

09/30

DTE Energy

DTE

2.92%

$129.66

10

6.70%

$3.78

09/13

10/15

Brinker International

EAT

4.00%

$38.00

13

11.60%

$1.52

09/05

09/26

El Paso Electric

EE

2.31%

$66.70

9

6.20%

$1.54

09/13

09/30

Enterprise Financial Services

EFSC

1.62%

$39.42

5

17.50%

$0.64

09/12

09/27

Eastman Chemical

EMN

3.79%

$65.37

9

13.30%

$2.48

09/13

10/04

Extra Space Storage

EXR

2.95%

$121.92

10

18.30%

$3.60

09/13

09/30

First American Financial

FAF

2.87%

$58.45

9

27.20%

$1.68

09/06

09/16

FedEx

FDX

1.64%

$158.61

17

31.70%

$2.60

09/06

10/01

FBL Financial

FFG

3.54%

$54.23

9

28.80%

$1.92

09/13

09/30

First Financial Bankshares

FFIN

1.57%

$30.62

9

10.00%

$0.48

09/13

10/01

First Horizon National

FHN

3.54%

$15.83

8

23.00%

$0.56

09/12

10/01

Fidelity National Financial

FNF

2.82%

$43.94

8

23.00%

$1.24

09/13

09/30

Franco-Nevada

FNV

1.02%

$97.66

12

5.70%

$1.00

09/11

09/26

GATX

GATX

2.48%

$74.22

9

7.30%

$1.84

09/12

09/30

Gilead Sciences

GILD

3.97%

$63.54

5

N/A

$2.52

09/12

09/27

Gaming and Leisure Properties

GLPI

6.95%

$39.12

5

N/A

$2.72

09/05

09/20

Genuine Parts

GPC

3.38%

$90.29

63

5.70%

$3.05

09/05

10/01

Huntington Bancshares

HBAN

4.53%

$13.25

9

21.20%

$0.60

09/16

10/01

Home Depot

HD

2.39%

$227.91

10

21.40%

$5.44

09/04

09/19

Hillenbrand

HI

3.06%

$27.44

12

1.20%

$0.84

09/13

09/30

Houlihan Lokey

HLI

2.81%

$44.18

5

N/A

$1.24

09/04

09/16

HP

HPQ

3.50%

$18.29

9

16.30%

$0.64

09/10

10/02

Intercontinental Exchange

ICE

1.18%

$93.48

7

49.20%

$1.10

09/13

09/30

Ingersoll-Rand

IR

1.75%

$121.09

8

23.90%

$2.12

09/05

09/30

Iron Mountain

IRM

7.67%

$31.85

9

16.80%

$2.44

09/13

10/02

ITT

ITT

1.03%

$56.92

7

6.00%

$0.59

09/09

10/01

Jack Henry & Associates

JKHY

1.10%

$144.96

29

15.20%

$1.60

09/06

09/30

Kimberly-Clark

KMB

2.92%

$141.11

47

5.50%

$4.12

09/05

10/02

Coca-Cola

KO

2.91%

$55.04

57

6.90%

$1.60

09/13

10/01

Kohl's

KSS

5.67%

$47.26

9

11.80%

$2.68

09/10

09/25

Kansas City Southern

KSU

1.14%

$125.80

7

11.40%

$1.44

09/06

10/02

Lamar Advertising

LAMR

5.01%

$76.65

6

N/A

$3.84

09/13

09/30

Lancaster Colony

LANC

1.78%

$145.90

56

8.60%

$2.60

09/06

09/30

Leggett & Platt

LEG

4.30%

$37.19

48

4.80%

$1.60

09/12

10/15

L3Harris Technologies

LHX

1.42%

$211.41

18

9.70%

$3.00

09/03

09/18

LyondellBasell Industries

LYB

5.43%

$77.38

9

14.90%

$4.20

09/03

09/11

La-Z-Boy

LZB

1.63%

$31.87

7

22.20%

$0.52

09/05

09/13

Mercury General

MCY

4.69%

$53.50

32

0.40%

$2.51

09/11

09/26

MDU Resources

MDU

3.01%

$26.89

28

2.70%

$0.81

09/11

10/01

Methanex

MEOH

4.44%

$32.46

9

11.00%

$1.44

09/13

09/30

Altria

MO

7.68%

$43.74

50

9.70%

$3.36

09/13

10/10

Medical Properties Trust

MPW

5.59%

$18.59

6

4.40%

$1.04

09/11

10/10

Merck

MRK

2.54%

$86.47

8

2.20%

$2.20

09/13

10/07

Motorola Solutions

MSI

1.26%

$180.91

9

13.80%

$2.28

09/12

10/15

Nasdaq

NDAQ

1.88%

$99.84

8

26.70%

$1.88

09/12

09/27

NewMarket

NEU

1.60%

$474.75

14

15.20%

$7.60

09/13

10/01

Northrop Grumman

NOC

1.44%

$367.87

16

14.60%

$5.28

09/06

09/25

EnPro Industries

NPO

1.61%

$62.28

5

N/A

$1.00

09/03

09/18

Insperity

NSP

1.21%

$99.06

9

18.70%

$1.20

09/06

09/23

Northern Trust

NTRS

3.18%

$87.93

8

9.70%

$2.80

09/12

10/01

NorthWestern

NWE

3.18%

$72.44

15

7.70%

$2.30

09/12

09/30

Old Republic International

ORI

3.42%

$23.36

38

1.60%

$0.80

09/05

09/16

Occidental Petroleum

OXY

7.27%

$43.48

16

5.40%

$3.16

09/09

10/15

Prosperity Bancshares

PB

2.53%

$64.92

21

10.90%

$1.64

09/13

10/01

Public Service Enterprise

PEG

3.11%

$60.47

8

4.60%

$1.88

09/06

09/30

PepsiCo

PEP

2.79%

$136.73

47

9.40%

$3.82

09/05

09/30

Principal Financial

PFG

4.13%

$53.22

11

16.50%

$2.20

09/04

09/27

Packaging Corp Of America

PKG

3.14%

$100.58

8

15.80%

$3.16

09/12

10/15

PolyOne

POL

2.44%

$32.01

9

24.90%

$0.78

09/12

10/04

PPL

PPL

5.58%

$29.55

18

3.50%

$1.65

09/09

10/01

PS Business Parks

PSB

2.34%

$179.61

5

16.60%

$4.20

09/11

09/27

Qualcomm

QCOM

3.19%

$77.77

16

13.30%

$2.48

09/11

09/26

Restaurant Brands International

QSR

2.55%

$78.45

5

N/A

$2.00

09/16

10/03

Everest Re

RE

2.37%

$235.88

6

19.30%

$5.60

09/03

09/18

Regions Financial

RF

4.24%

$14.62

7

38.70%

$0.62

09/05

10/01

Retail Opportunity Investments

ROIC

4.50%

$17.51

10

5.40%

$0.79

09/11

09/26

Ross Stores

ROST

0.96%

$106.01

25

21.50%

$1.02

09/11

09/30

Service Corp International

SCI

1.56%

$46.30

9

20.30%

$0.72

09/12

09/30

Simmons First National

SFNC

2.67%

$24.00

8

6.70%

$0.64

09/13

10/04

Six Flags Entertainment

SIX

5.54%

$59.17

9

11.70%

$3.28

09/04

09/16

South Jersey Industries

SJI

3.56%

$32.34

20

4.60%

$1.15

09/09

10/02

Spire

SR

2.79%

$84.90

16

5.80%

$2.37

09/10

10/02

Steris

STE

0.96%

$154.40

15

10.20%

$1.48

09/09

09/26

TriCo Bancshares

TCBK

2.49%

$35.36

7

10.80%

$0.88

09/12

09/27

Telephone and Data Systems

TDS

2.62%

$25.20

45

4.60%

$0.66

09/13

09/30

T Rowe Price

TROW

2.75%

$110.62

33

13.00%

$3.04

09/12

09/27

Travelers

TRV

2.23%

$146.96

15

9.10%

$3.28

09/09

09/30

Texas Roadhouse

TXRH

2.33%

$51.46

9

15.80%

$1.20

09/10

09/27

United Bankshares

UBSI

3.69%

$36.88

44

1.70%

$1.36

09/12

10/01

United Community Banks

UCBI

2.57%

$26.41

6

N/A

$0.68

09/12

10/05

UMB Financial

UMBF

1.93%

$62.32

27

5.90%

$1.20

09/09

10/01

Unitedhealth

UNH

1.85%

$234.00

10

26.80%

$4.32

09/13

09/24

VF

VFC

2.10%

$81.95

46

15.60%

$1.72

09/09

09/20

Vector

VGR

13.70%

$11.68

20

4.70%

$1.60

09/16

09/27

Waste Management

WM

1.72%

$119.35

16

5.00%

$2.05

09/05

09/20

Worthington Industries

WOR

2.77%

$34.70

9

9.50%

$0.96

09/12

09/27

Weingarten Realty Investors

WRI

5.96%

$26.49

8

5.30%

$1.58

09/05

09/13

WesBanco

WSBC

3.62%

$34.22

9

8.30%

$1.24

09/06

10/01

Western Union

WU

3.62%

$22.12

5

8.70%

$0.80

09/13

09/30

Weyerhaeuser

WY

5.17%

$26.31

8

10.30%

$1.36

09/05

09/20

Wyndham Destinations

WYND

4.06%

$44.34

10

10.30%

$1.80

09/12

09/30

Xcel Energy

XEL

2.52%

$64.22

16

6.40%

$1.62

09/12

10/20

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.