Seeking Alpha

Dividend Increases: September 9-13, 2019

|
Includes: NJR, PM
by: FerdiS
Summary

In this article series, I provide a weekly summary of dividend increases.

I monitor dividend increases to identify candidate stocks for further analysis.

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

Monitoring dividend increases for stocks on my watch is one way to identify candidates for further analysis. Companies that regularly increase dividends show confidence in the potential growth of future earnings.

I look for dividend increase announcements for stocks in the CCC List, but I use several screens to limit the number of stocks to monitor:

  • Dividend Yield ≥ 1.0%
  • Market cap ≥ $1 billion
  • No stocks that are being acquired
  • No Over-The-Counter or Pink Sheets stocks

In the last week, two companies that declared dividend increases passed these screens, including one of the stocks I hold in my portfolio.

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: September 9-13, 2019

Previous Post: Dividend Increases: September 2-6, 2019

New Jersey Resources (NJR)

Founded in 1922 and headquartered in Wall, New Jersey, NJR is an energy services holding company that provides regulated gas distribution, and retail and wholesale energy services. NJR operates in several business segments, including Natural Gas Distribution, Clean Energy Ventures, Energy Services, Retail Services, Midstream, and Home Services. Recently, NJR increased its quarterly dividend to 31.25¢ per share, an increase of 6.84% over the prior dividend of 29.25¢ per share. All shareholders of record on September 20 can expect the dividend to be paid on October 1.

Philip Morris International (PM)

Incorporated in 1987 and based in New York, New York, PM manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products in more than 180 markets outside the United States. The company owns 7 of the world’s top 15 international cigarette brands, including Marlboro, the number one cigarette brand worldwide. PM will pay a quarterly dividend of $1.17 per share, an increase of 2.63% over the previous quarterly dividend. The dividend is payable October 11, with an ex-dividend date of September 24.

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, NJR and PM.

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.)

NJR'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 NJR in October 2009 would have returned 11.5% on an annualized basis (with dividends included).

PM's price line is below the stock's normal P/E ratio and above the primary valuation line. The stock is trading at a discount to fair value. An investment in PM in January 2010 would have returned 8.7% 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 17-30, 2019

Company

Ticker

Yield

Recent

Price

Yrs.

5-Yr.

DGR

Next

Div.

Ex-Div

Date

Payable

Date

Agree Realty Corp.

ADC

3.18%

$71.78

7

5.40%

$2.28

09/26

10/11

Armada Hoffler Properties

AHH

4.63%

$18.16

7

37.60%

$0.84

09/24

10/03

Altra Industrial Motion

AIMC

2.27%

$30.02

7

14.90%

$0.68

09/17

10/02

Acadia Realty Trust

AKR

3.93%

$28.53

6

5.90%

$1.12

09/27

10/15

Air Products and Chemicals

APD

2.12%

$218.42

37

8.90%

$4.64

09/30

11/11

Alexandria Real Estate Equities

ARE

2.63%

$151.91

9

8.00%

$4.00

09/27

10/15

Broadcom

AVGO

3.65%

$290.06

9

55.10%

$10.60

09/20

10/01

BancFirst

BANF

2.21%

$57.92

26

9.50%

$1.28

09/27

10/15

Best Buy

BBY

2.92%

$68.59

16

21.50%

$2.00

09/18

10/10

Franklin Resources

BEN

3.51%

$29.63

39

18.70%

$1.04

09/27

10/11

B&G Foods

BGS

9.61%

$19.78

8

9.60%

$1.90

09/27

10/30

Cardinal Health

CAH

3.99%

$48.25

23

10.20%

$1.92

09/30

10/15

Chubb

CB

1.89%

$158.65

26

7.60%

$3.00

09/19

10/11

Cincinnati Financial

CINF

1.99%

$112.45

59

4.90%

$2.24

09/17

10/15

CyrusOne

CONE

2.70%

$74.09

7

30.30%

$2.00

09/26

10/11

CoreSite Realty

COR

4.29%

$113.66

10

30.10%

$4.88

09/27

10/15

CubeSmart

CUBE

3.67%

$34.84

9

22.20%

$1.28

09/30

10/15

Douglas Emmett

DEI

2.48%

$42.00

9

6.80%

$1.04

09/27

10/16

Amdocs

DOX

1.72%

$66.33

8

13.30%

$1.14

09/27

10/25

EastGroup Properties

EGP

2.39%

$125.48

8

4.30%

$3.00

09/27

10/15

Encompass Health

EHC

1.75%

$64.14

7

42.00%

$1.12

09/30

10/15

Edison International

EIX

3.41%

$71.80

16

12.40%

$2.45

09/27

10/31

Equity Lifestyle Properties

ELS

1.86%

$131.55

15

17.20%

$2.45

09/26

10/11

Eversource Energy

ES

2.60%

$82.45

21

6.60%

$2.14

09/19

09/30

Essex Property Trust

ESS

2.41%

$323.51

25

9.20%

$7.80

09/27

10/15

First Midwest Bancorp

FMBI

2.78%

$20.11

7

33.90%

$0.56

09/26

10/08

First Industrial Realty Trust

FR

2.35%

$39.13

7

59.00%

$0.92

09/27

10/21

Federal Realty Investment Trust

FRT

3.12%

$134.57

52

6.20%

$4.20

09/20

10/15

Getty Realty

GTY

4.30%

$32.54

7

12.00%

$1.40

09/18

10/03

International Flavors & Fragrances

IFF

2.42%

$124.06

17

14.70%

$3.00

09/20

10/04

Inter Parfums

IPAR

1.64%

$67.21

10

13.80%

$1.10

09/27

10/15

Illinois Tool Works

ITW

2.70%

$158.50

45

16.40%

$4.28

09/27

10/09

J & J Snack Foods Corp.

JJSF

1.04%

$191.73

15

23.00%

$2.00

09/18

10/03

KAR Auction Services

KAR

2.88%

$26.42

6

13.00%

$0.76

09/19

10/03

Kite Realty Group Trust

KRG

8.02%

$15.84

5

5.80%

$1.27

09/19

09/27

Kennedy-Wilson

KW

3.74%

$22.48

9

23.90%

$0.84

09/27

10/03

Lincoln Electric

LECO

2.11%

$89.03

24

14.30%

$1.88

09/27

10/15

Logitech International

LOGI

1.78%

$41.74

5

24.50%

$0.74

09/18

09/20

Lam Research

LRCX

1.94%

$236.91

6

N/A

$4.60

09/30

10/16

Las Vegas Sands

LVS

5.18%

$59.48

8

16.50%

$3.08

09/17

09/26

Main Street Capital

MAIN

5.69%

$43.22

9

4.30%

$2.46

09/18

10/15

Mondelez International

MDLZ

2.11%

$54.10

8

11.20%

$1.14

09/27

10/14

Medtronic

MDT

1.97%

$109.60

42

12.20%

$2.16

09/26

10/18

National Fuel Gas

NFG

3.53%

$49.28

49

2.60%

$1.74

09/27

10/15

National Healthcare

NHC

2.46%

$84.70

16

9.60%

$2.08

09/27

12/02

National Health Investors

NHI

5.10%

$82.36

17

6.90%

$4.20

09/27

11/08

New Jersey Resources

NJR

2.77%

$45.13

23

6.50%

$1.25

09/19

10/01

Nucor

NUE

2.99%

$53.54

46

0.70%

$1.60

09/26

11/08

Omnicom

OMC

3.29%

$78.93

10

9.90%

$2.60

09/19

10/10

Pattern Energy

PEGI

6.24%

$27.05

5

40.10%

$1.69

09/26

10/31

The Children's Place

PLCE

2.53%

$88.40

6

N/A

$2.24

09/20

10/04

Prologis

PLD

2.50%

$84.84

6

11.40%

$2.12

09/19

09/30

Douglas Dynamics

PLOW

2.43%

$44.79

10

4.90%

$1.09

09/19

09/30

Philip Morris International

PM

6.45%

$72.54

11

4.80%

$4.68

09/24

10/11

Portland General Electric

POR

2.77%

$55.58

14

5.20%

$1.54

09/24

10/15

Primoris Services Corp.

PRIM

1.13%

$21.15

7

12.20%

$0.24

09/27

10/15

QTS Realty Trust

QTS

3.56%

$49.47

6

N/A

$1.76

09/18

10/04

Regal Beloit Corp.

RBC

1.56%

$76.95

15

6.70%

$1.20

09/26

10/11

Royal Caribbean Cruises

RCL

2.75%

$113.58

8

32.60%

$3.12

09/19

10/11

Rexford Industrial Realty

REXR

1.67%

$44.41

6

24.40%

$0.74

09/27

10/15

Raymond James Financial

RJF

1.57%

$86.61

7

14.50%

$1.36

09/30

10/15

Republic Services

RSG

1.90%

$85.06

17

7.90%

$1.62

09/30

10/15

Synovus Financial Corp.

SNV

3.17%

$37.80

6

86.40%

$1.20

09/18

10/01

Sempra Energy

SRE

2.73%

$141.59

16

7.10%

$3.87

09/19

10/15

STAG Industrial

STAG

4.80%

$29.80

9

3.90%

$1.43

09/27

10/15

Steel Dynamics

STLD

3.00%

$32.02

9

10.80%

$0.96

09/27

10/11

Stryker Corp.

SYK

0.96%

$217.47

26

12.10%

$2.08

09/27

10/31

Tiffany & Co.

TIF

2.38%

$97.56

17

9.70%

$2.32

09/19

10/10

TowneBank

TOWN

2.54%

$28.40

8

10.20%

$0.72

09/27

10/10

Umpqua Holdings Corp.

UMPQ

4.97%

$16.89

8

7.90%

$0.84

09/27

10/15

Marriott Vacations Worldwide

VAC

1.63%

$110.42

6

N/A

$1.80

09/18

10/03

Willis Towers Watson

WLTW

1.34%

$193.80

8

16.00%

$2.60

09/27

10/15

Douglas Dynamics

PLOW

2.45%

$44.49

10

4.90%

$1.09

09/19

09/30

PolyOne

POL

2.28%

$34.25

9

24.90%

$0.78

09/12

10/04

PS Business Parks

PSB

2.38%

$176.64

5

16.60%

$4.20

09/11

09/27

Qualcomm

QCOM

3.18%

$77.94

16

13.30%

$2.48

09/11

09/26

Restaurant Brands International

QSR

2.79%

$71.78

5

N/A

$2.00

09/16

10/03

QTS Realty Trust

QTS

3.55%

$49.54

6

N/A

$1.76

09/18

10/04

Royal Caribbean Cruises

RCL

2.76%

$113.15

8

32.60%

$3.12

09/19

10/11

Retail Opportunity Investments Corp.

ROIC

4.33%

$18.21

10

5.40%

$0.79

09/11

09/26

Ross Stores

ROST

0.94%

$107.95

25

21.50%

$1.02

09/11

09/30

Service Corp. International

SCI

1.51%

$47.76

9

20.30%

$0.72

09/12

09/30

Simmons First National Corp.

SFNC

2.49%

$25.68

8

6.70%

$0.64

09/13

10/04

Synovus Financial Corp.

SNV

3.17%

$37.86

6

86.40%

$1.20

09/18

10/01

Spire Inc.

SR

2.72%

$87.24

16

5.80%

$2.37

09/10

10/02

Sempra Energy

SRE

2.73%

$141.51

16

7.10%

$3.87

09/19

10/15

TriCo Bancshares

TCBK

2.37%

$37.07

7

10.80%

$0.88

09/12

09/27

Taubman Centers

TCO

6.39%

$42.27

10

5.50%

$2.70

09/13

09/30

Telephone and Data Systems

TDS

2.49%

$26.56

45

4.60%

$0.66

09/13

09/30

Hanover Insurance Group

THG

1.83%

$130.86

14

10.30%

$2.40

09/12

09/27

Tiffany

TIF

2.37%

$97.75

17

9.70%

$2.32

09/19

10/10

T. Rowe Price

TROW

2.59%

$117.35

33

13.00%

$3.04

09/12

09/27

Texas Roadhouse

TXRH

2.20%

$54.60

9

15.80%

$1.20

09/10

09/27

United Bankshares

UBSI

3.47%

$39.19

44

1.70%

$1.36

09/12

10/01

United Community Banks

UCBI

2.43%

$27.98

6

N/A

$0.68

09/12

10/05

Universal Health Realty Income Trust

UHT

2.78%

$97.96

34

1.50%

$2.72

09/13

09/30

UnitedHealth

UNH

1.84%

$234.95

10

26.80%

$4.32

09/13

09/24

Marriott Vacations Worldwide Corp.

VAC

1.63%

$110.62

6

N/A

$1.80

09/18

10/03

Vector Group

VGR

13.30%

$12.03

20

4.70%

$1.60

09/16

09/27

Worthington Industries

WOR

2.46%

$38.99

9

9.50%

$0.96

09/12

09/27

Western Union

WU

3.48%

$22.97

5

8.70%

$0.80

09/13

09/30

Wyndham Destinations

WYND

3.77%

$47.72

10

10.30%

$1.80

09/12

09/30

Xcel Energy

XEL

2.59%

$62.64

16

6.40%

$1.62

09/12

10/20

Thanks for reading and happy investing!

Disclosure: I am/we are long PM. 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.