Dividend Increases: February 22-28, 2020 (Part 1)
Summary
- This weekly article series covers dividend increase announcements.
- A summary table provides relevant data and key statistics.
- Part 1 covers the Dividend Champions and Dividend Contenders.
- As a bonus, I include ex-dividend dates for the next two weeks.
I monitor dividend increases for stocks in the Dividend Champions List (CCC list).
The CCC list is separated into three categories based on how long companies have maintained their streak of annually increasing dividends: Champions (25+ years), Contenders (10-24 years), and Challengers (5-9 years).
This week, 37 companies in the CCC list announced dividend increases, including two of the stocks I hold in my portfolio. The following table covers the Dividend Champions and Dividend Contenders. Please see Part 2 of this article for coverage of the Dividend Challengers.
The table is sorted into sections for Champions, Contenders, and Challengers, and then 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.
Some companies increase their dividends more than once a year, so the last column (1-yr %Incr) indicates the percentage increase from the year-ago dividend.
Summary of Dividend Increases: February 22-28, 2020 |
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Previous Post: Dividend Increases: February 15-21, 2020 |
The following dividend increase data are sorted alphabetically by ticker.
Albemarle (ALB)
ALB is a major producer of specialty chemicals targeting customer needs across various end markets, including petroleum refinement, consumer electronics, plastics and packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety, and custom chemistry services. ALB was founded in 1993 and is headquartered in Baton Rouge, Louisiana.
- On Feb 27, ALB declared a quarterly dividend of 38.5¢ per share.
- This is an increase of 4.8% from the prior dividend of 36.75¢.
- Payable Apr 1, to shareholders of record on Mar 13; ex-div: Mar 12.
Best Buy (BBY)
BBY is a retailer of technology products, services, and solutions in North America. The company offers service to the consumers, small business owners, and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. BBY was founded in 1966 and is headquartered in Richfield, Minnesota.
- On Feb 27, BBY declared a quarterly dividend of 55¢ per share.
- This is an increase of 10.0% from the prior dividend of 50¢.
- Payable Apr 9, to shareholders of record on Mar 19; ex-div: Mar 18.
Chico's FAS (CHS)
CHS is a specialty retailer of women's private branded, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing items. The company's portfolio of brands includes Chico's, White House Black Market, Soma Intimates, and Boston Proper. CHS was founded in 1983 and is headquartered in Fort Myers, Florida.
- On Feb 27, CHS declared a quarterly dividend of 9¢ per share.
- This is an increase of 2.9% from the prior dividend of 8.75¢.
- Payable Mar 30, to shareholders of record on Mar 16; ex-div: Mar 13.
Digital Realty Trust (DLR)
DLR is a real estate investment trust that owns, acquires, develops, and operates data centers. The company provides data center and colocations solutions to domestic and international tenants, including companies providing financial and information technology services. The company was founded in 2004 and is headquartered in San Francisco.
- On Feb 27, DLR declared a quarterly dividend of $1.12 per share.
- This is an increase of 3.7% from the prior dividend of $1.08.
- Payable Mar 31, to shareholders of record on Mar 17; ex-div: Mar 16.
Eaton Corp (ETN)
Founded in 1916 and now headquartered in Dublin, Ireland, ETN is a diversified power management company. The company serves industrial, vehicle, construction, commercial, and semiconductor markets in more than 175 countries. ETN operates in four segments: Electrical Products, Electrical Systems and Services, Hydraulics, and Vehicle.
- On Feb 25, ETN declared a quarterly dividend of 73¢ per share.
- This is an increase of 2.8% from the prior dividend of 71¢.
- Payable Mar 27, to shareholders of record on Mar 13; ex-div: Mar 12.
Home Depot (HD)
Founded in 1978 and based in Atlanta, Georgia, HD is a home improvement retailer that sells an assortment of building materials, home improvement products, and lawn and garden products. HD provides installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers.
- On Feb 25, HD declared a quarterly dividend of $1.50 per share.
- This is an increase of 10.3% from the prior dividend of $1.36.
- Payable Mar 26, to shareholders of record on Mar 12; ex-div: Mar 11.
Linde (LIN)
Founded in 1907 and based in Guildford, the United Kingdom, LIN operates as an industrial gas and engineering company. The company offers a variety of gases, including rare gases, electronic gases, specialty gases, shielding gases, and noble gases. LIN also develops and distributes procedures and systems for gas applications.
- On Feb 24, LIN declared a quarterly dividend of 96.3¢ per share.
- This is an increase of 10.1% from the prior dividend of 87.5¢.
- Payable Mar 20, to shareholders of record on Mar 6; ex-div: Mar 5.
McGrath RentCorp (MGRC)
Founded in 1979, MGRC is a diversified business-to-business rental company. The company is engaged in the rental and sale of relocatable modular buildings, electronic test equipment, and liquid and solid containment tanks and boxes, primarily in California, Texas, Florida, Northern Illinois, New Jersey and most recently entered the North Carolina region. MGRC is headquartered in Livermore, California.
- On Feb 25, MGRC declared a quarterly dividend of 42¢ per share.
- This is an increase of 12.0% from the prior dividend of 37.5¢.
- Payable Apr 30, to shareholders of record on Apr 15; ex-div: Apr 14.
Northrim BanCorp (NRIM)
NRIM operates as the bank holding company for Northrim Bank that provides commercial banking products and services to businesses and professional individuals in Alaska. It operates in two segments, Community Banking and Home Mortgage Lending. NRIM was founded in 1990 and is headquartered in Anchorage, Alaska.
- On Feb 28, NRIM declared a quarterly dividend of 34¢ per share.
- This is an increase of 3.0% from the prior dividend of 33¢.
- Payable Mar 20, to shareholders of record on Mar 12; ex-div: Mar 11.
Old Republic International (ORI)
ORI is engaged in the business of insurance underwriting and related services, primarily in the United States and Canada. The company provides property and liability insurance to businesses, governments, and other institutions. It also provides policies to real estate purchasers and investors. ORI was founded in 1887 and is based in Chicago, Illinois.
- On Feb 26, ORI declared a quarterly dividend of 21¢ per share.
- This is an increase of 5.0% from the prior dividend of 20¢.
- Payable Mar 16, to shareholders of record on Mar 9; ex-div: Mar 6.
Silgan (SLGN)
SLGN manufactures and sells rigid packaging for shelf-stable food and other consumer goods products. The company's products include steel and aluminum containers, metal, composite and plastic closures, and custom-designed plastic containers and closures. SLGN was founded in 1987 and is headquartered in Stamford, Connecticut.
- On Feb 27, SLGN declared a quarterly dividend of 12¢ per share.
- This is an increase of 9.1% from the prior dividend of 11¢.
- Payable Mar 31, to shareholders of record on Mar 17; ex-div: Mar 16.
Sempra Energy (SRE)
SRE, an energy services holding company, develops energy infrastructure, operates utilities, and provides related services. Operating through eight principal subsidiaries, the company serves customers in the United States, Canada, Mexico, South America, Europe, and Asia. SRE was founded in 1998 and is headquartered in San Diego, California.
- On Feb 25, SRE declared a quarterly dividend of $1.045 per share.
- This is an increase of 8.0% from the prior dividend of 96.75¢.
- Payable Apr 15, to shareholders of record on Mar 20; ex-div: Mar 19.
Southwest Gas (SWX)
Founded in 1931, SWX is an energy holding company based in Las Vegas, Nevada. The company provides natural gas service to residential, commercial, and industrial natural gas customers in Arizona, Nevada, and California. A wholly-owned subsidiary of SWX provides utility companies with trenching and installation, replacement, and maintenance services for energy distribution systems.
- On Feb 25, SWX declared a quarterly dividend of 57¢ per share.
- This is an increase of 4.6% from the prior dividend of 54.5¢.
- Payable Jun 1, to shareholders of record on May 15; ex-div: May 14.
Texas Pacific Land Trust (TPL)
Founded in 1888 and headquartered in Dallas, Texas, TPL holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. TPL sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.
- On Feb 24, TPL declared an annual dividend of $10.00 per share.
- This is an increase of 471.4% from the prior dividend of $1.75.
- Payable Mar 16, to shareholders of record on Mar 9; ex-div: Mar 6.
Thomson Reuters (TRI)
Incorporated in 1977, TRI provides intelligent information for businesses and professionals worldwide. The company sells electronic content and services primarily on a subscription basis. TRI also operates Reuters, which provides real-time multimedia news and information services to newspapers, television and cable networks, radio stations, and websites. TRI is headquartered in New York, New York.
- On Feb 25, TRI declared a quarterly dividend of 38¢ per share.
- This is an increase of 5.6% from the prior dividend of 36¢.
- Payable Mar 18, to shareholders of record on Mar 6; ex-div: Mar 5.
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, HD, ETN, and NRIM.
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).
HD'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 fair value. An investment in HD in February 2010 would have returned 24.5% on an annualized basis (with dividends included).
ETN's price line is at the stock's normal P/E ratio and above the primary valuation line. The stock is trading at about fair value. An investment in ETN in January 2010 would have returned 13% on an annualized basis (with dividends included).
NRIM's price line is below the primary valuation line and below the stock's normal P/E ratio. The stock is trading at a discount fair value. An investment in NRIM in January 2010 would have returned 9.5% 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 divided into sections by Ex-Div Date and sorted by Ticker for each date. Please note that Payout is the dollar amount payable per share or unit on the Pay Date.
Also, note this table contains the ex-dividend dates for Dividend Champions and Dividend Contenders only. See Part 2 of this article for the ex-dividend dates of Dividend Challengers.
Summary of Upcoming Ex-Dividend Dates: March 3-16, 2020
Company (Ticker) | Yield | Price (28.Feb) | Yrs | 5-Yr DGR | Pay- out | Pay Date |
Tuesday, 3 March (Ex-Div Date 03/03) | ||||||
Eversource Energy (ES) | 2.63% | $86.46 | 21 | 6.4% | 0.5675 | 03/31 |
Wednesday, 4 March (Ex-Div Date 03/04) | ||||||
BlackRock (BLK) | 3.14% | $463.01 | 11 | 11.3% | 3.63 | 03/23 |
Thursday, 5 March (Ex-Div Date 03/05) | ||||||
Arthur J. Gallagher (AJG) | 1.85% | $97.49 | 10 | 3.6% | 0.45 | 03/20 |
Friday, 6 March (Ex-Div Date 03/06) | ||||||
Brown-Forman (BF.B) | 1.14% | $61.41 | 36 | 7.1% | 0.1743 | 04/01 |
First American Financial (FAF) | 3.08% | $57.10 | 11 | 14.9% | 0.44 | 03/16 |
FedEx (FDX) | 1.84% | $141.17 | 18 | 30.0% | 0.65 | 04/01 |
Monday, 9 March (Ex-Div Date 03/09) | ||||||
Auburn National Bancorp (AUBN) | 1.83% | $55.75 | 18 | 3.1% | 0.255 | 03/25 |
Becton, Dickinson (BDX) | 1.33% | $237.82 | 48 | 6.8% | 0.79 | 03/31 |
Wednesday, 11 March (Ex-Div Date 03/11) | ||||||
Franco-Nevada (FNV) | 0.93% | $107.50 | 12 | 4.9% | 0.25 | 03/26 |
Thursday, 12 March (Ex-Div Date 03/12) | ||||||
Automatic Data Processing (ADP) | 2.35% | $154.74 | 44 | 13.4% | 0.91 | 04/01 |
Albemarle (ALB) | 1.88% | $81.85 | 25 | 6.2% | 0.385 | 04/01 |
Broadridge Financial Solutions (BR) | 2.07% | $104.36 | 13 | 17.3% | 0.54 | 04/03 |
Community Trust Bancorp (CTBI) | 3.93% | $38.68 | 39 | 4.8% | 0.38 | 04/01 |
Eaton Corp (ETN) | 3.22% | $90.72 | 10 | 7.7% | 0.73 | 03/27 |
Friday, 13 March (Ex-Div Date 03/13) | ||||||
Anthem (ANTM) | 1.48% | $257.09 | 10 | 12.8% | 0.95 | 03/27 |
Atrion (ATRI) | 1.01% | $616.31 | 17 | 15.8% | 1.55 | 03/31 |
DTE Energy (DTE) | 3.63% | $111.67 | 11 | 7.3% | 1.0125 | 04/15 |
Eastman Chemical (EMN) | 4.29% | $61.51 | 10 | 12.5% | 0.66 | 04/03 |
Extra Space Storage (EXR) | 3.59% | $100.36 | 10 | 14.5% | 0.9 | 03/31 |
Monday, 16 March (Ex-Div Date 03/16) | ||||||
Digital Realty Trust (DLR) | 3.73% | $120.11 | 15 | 5.1% | 1.12 | 03/31 |
Ecolab (ECL) | 1.04% | $180.45 | 28 | 10.8% | 0.47 | 04/15 |
Thanks for reading and happy investing!
This article was written by
Analyst’s Disclosure: I am/we are long DLR, HD. 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.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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