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 past week, eight companies in the CCC list announced dividend increases, including two of the stocks I own. The table below presents a summary.
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 five-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: April 25-May 1, 2020 |
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Previous Post: Dividend Increases: April 18-24, 2020 |
The following dividend increase data are sorted alphabetically by ticker.
Apple (AAPL)
Headquartered in Cupertino, California, AAPL designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players. The company also sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. AAPL was founded in 1977.
- On Apr 30, AAPL declared a quarterly dividend of 82¢ per share.
- This is an increase of 6.5% from the prior dividend of 77¢.
- Payable May 14, to shareholders of record on May 11; ex-div: May 8.
American Water Works (AWK)
AWK is the largest publicly-traded water and wastewater utility company in the United States. Through its subsidiaries, the company provides water and wastewater services in 45 states and in Ontario, Canada. The company is headquartered in Voorhees, New Jersey and was founded in 1886 as the American Water Works & Guarantee Company.
- On Apr 29, AWK declared a quarterly dividend of 55¢ per share.
- This is an increase of 10.0% from the prior dividend of 50¢.
- Payable Jun 2, to shareholders of record on May 12; ex-div: May 11.
Enviva Partners (EVA)
EVA produces and supplies utility-grade wood pellets. The company serves utilities and large-scale power generators in the United Kingdom and other European markets. Enviva Partners GP, LLC operates as the general partner of the company. EVA was founded in 2013 and is based in Bethesda, Maryland.
- On Apr 29, EVA declared a quarterly distribution of 68¢ per unit.
- This is an increase of 0.7% from the prior distribution of 67.5¢.
- Payable May 29, to unitholders of record on May 15; ex-div: May 14.
First Financial Bankshares (FFIN)
Founded in 1890 and headquartered in Abilene, Texas, FFIN is a financial holding company that provides commercial banking services through its subsidiary, First Financial Bank. The company provides customary commercial banking services and various types of loans, including real estate, agricultural, and commercial loans. FFIN also provides security brokerage services and personal trust services.
- On Apr 28, FFIN declared a quarterly dividend of 13¢ per share.
- This is an increase of 8.3% from the prior dividend of 12¢.
- Payable July 1, to shareholders of record on Jun 16; ex-div: Jun 15.
International Business Machines (IBM)
Founded in 1910 and headquartered in Armonk, New York, IBM is a global information technology (IT) company that offers consulting and application management services, IT infrastructure services, and infrastructure technologies. IBM's Watson is a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and other computing systems.
- On Apr 28, IBM declared a quarterly dividend of $1.63 per share.
- This is an increase of 0.6% from the prior dividend of $1.62.
- Payable June 10, to shareholders of record on May 8; ex-div: May 7.
Lakeland Bancorp (LBAI)
Founded in 1969 and headquartered in Oak Ridge, New Jersey, LBAI is the bank holding company for Lakeland Bank, which provides commercial, mortgage, and consumer loans; consumer banking services; and investment and advisory services. LBAI also offers wire transfer, Internet banking, mobile banking, and night depository services.
- On Apr 28, LBAI declared a quarterly dividend of 12.5¢ per share.
- This is an increase of 8.7% from the prior dividend of 11.5¢.
- Payable May 20, to shareholders of record on May 11; ex-div: May 8.
MetLife (MET)
MET is engaged in the insurance, annuities, employee benefits, and asset management businesses. The company operates through five segments: United States; Asia; Latin America; Europe, the Middle East, and Africa; and MetLife Holdings. MET was founded in 1863 and is headquartered in New York, New York.
- On Apr 28, MET declared a quarterly dividend of 46¢ per share.
- This is an increase of 4.5% from the prior dividend of 44¢.
- Payable Jun 12, to shareholders of record on May 8; ex-div: May 7.
Tetra Tech (TTEK)
TTEK provides consulting and engineering services worldwide. The company offers early data collection and monitoring, data analysis and information, science and engineering applied research, feasibility studies and assessments, climate change and energy management consulting, and greenhouse gas inventory assessment, certification, reduction, and management services. TTEK was founded in 1966 and is headquartered in Pasadena, California.
- On Apr 27, TTEK declared a quarterly dividend of 17¢ per share.
- This is an increase of 13.3% from the prior dividend of 15¢.
- Payable May 29, to shareholders of record on May 13; ex-div: May 12.
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, AWK, AAPL, and MET.
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).
AWK'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 AWK in January 2010 would have returned 18.8% on an annualized basis (with dividends included).
AAPL's price line is above the stock's normal P/E ratio and at the primary valuation line. The stock is trading at about fair value. An investment in AAPL in September 2010 would have returned 23.5% on an annualized basis (with dividends included).
MET'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 MET in January 2010 would have returned 3.8% on an annualized basis (with dividends included).
Dividend Cuts And Suspensions
Following requests from readers, I'm temporarily adding this section to my weekly articles series.
I hope you find this informative, if not a bit confusing because the focus of this series is Dividend Increases. But the COVID-19 pandemic has created extraordinary circumstances and many companies are taking extraordinary steps as a result.
Please note that I'm only covering dividend cuts and suspensions announced by companies in the CCC list.
Previously Announced
- Feb 5: Black Stone Minerals (BSM) cut its distribution by 19%.
- Feb 5: Westwood Holdings Group (WHG) cut its dividend by 40%.
- Feb 7: Manhattan Bridge Capital (LOAN) cut its dividend by 8%.
- Mar 5: Vector Group (VGR) cut its dividend by 50%.
- Mar 10: Occidental Petroleum (OXY) cut its dividend by 86%.
- Mar 16: Macerich (MAC) cut its dividend by 33%.
- Mar 17: Ryman Hospitality Properties (RHP) suspended its dividend.
- Mar 17: Sotherly Hotels (SOHO) suspended its dividend.
- Mar 18: Marriott International (MAR) suspended its dividend.
- Mar 20: Boeing (BA) suspended its dividend.
- Mar 20: Bloomin' Brands (BLMN) suspended its dividend.
- Mar 20: Delta Air Lines (DAL) suspended its dividend.
- Mar 20: Calvin B. Taylor Bankshares (OTCQX:TYCB) cut its dividend by 16%.
- Mar 24: Steelcase (SCS) cut its dividend by 52%.
- Mar 24: SYNNEX (SNX) suspended its dividend.
- Mar 25: Alaska Airlines (ALK) suspended its dividend.
- Mar 25: Cracker Barrel Old Country Store (CBRL) postponed its upcoming dividend and suspended future dividends.
- Mar 25: Texas Roadhouse (TXRH) suspended its dividend.
- Mar 26: Lear (LEA) suspended its dividend.
- Mar 26: Oxford Industries (OXM) cut its dividend by 32%.
- Mar 26: Signet Jewelers (SIG) suspended its dividend.
- Mar 29: La-Z-Boy (LZB) eliminated its June quarterly dividend.
- Mar 30: Service Properties Trust (SVC) cut distribution by 98%.
- Apr 1: Gannett (GCI) suspended its dividend.
- Apr 3: Herman Miller (MLHR) postponed its upcoming dividend and suspended future dividends.
- Apr 8: Six Flags Entertainment (SIX) suspended its dividend.
- Apr 16: Green Plains Partners (GPP) cut its distribution by 75%.
- Apr 16: Goodyear Tire & Rubber (GT) suspended its dividend.
- Apr 17: Kohl's (KSS) suspended its dividend.
- Apr 20: Moelis & Company (MC) cut its dividend by 50%.
- Apr 20: Western Midstream Partners (WES) cut its dividend by 50%.
- Apr 22: Black Stone Minerals (BSM) cut its dividend by 73%.
- Apr 22: Retail Opportunity Investments (ROIC) suspended its dividend.
- Apr 23: Holly Energy Partners (HEP) cut its distribution by 48%.
- Apr 23: Invesco (IVZ) cut its dividend by 50%.
- Apr 23: 1st Source (SRCE) cut its dividend by 3%.
- Apr 23: USD Partners (OTC:USDP) cut its dividend by 70%.
- Apr 24: CenterPoint Energy (CNP) cut its dividend by 48%.
- Apr 24: Community West Bancshares (CWBC) cut its dividend by 18%.
Announced in Week of April 25-May 1
American Assets Trust (AAT)
- On Apr 28, AAT declared a quarterly dividend of 20¢ per share.
- This is a decrease of 33% from the prior dividend of 30¢.
- Payable Jun 25, to shareholders of record on Jun 11; ex-div: Jun 10.
CNX Midstream Partners (CNXM)
- On Apr 27, CNXM declared a quarterly distribution of 8.29¢ per unit.
- This is a decrease of 80% from the prior distribution of 41.43¢.
- Payable May 15, to unitholders of record on May 7; ex-div: May 6.
Gaming and Leisure Properties (GLPI)
- On Apr 29, GLPI declared a quarterly dividend of 60¢ per share.
- This is a decrease of 14% from the prior dividend of 70¢.
- Payable June 26, to shareholders of record on May 13; ex-div: May 12.
Great Western Bancorp (GWB)
- On Apr 30, GWB declared a quarterly dividend of 15¢ per share.
- This is a decrease of 50% from the prior dividend of 30¢.
- Payable May 29, to shareholders of record on May 15; ex-div: May 14.
Harley-Davidson (HOG)
- On Apr 28, HOG declared a quarterly dividend of 2¢ per share.
- This is a decrease of 95% from the prior dividend of 38¢.
- Payable Jun 12, to shareholders of record on May 22; ex-div: May 21.
Marcus (MCS)
On Apr 30, MCS announced it would temporarily suspend its dividend.
Methanex (MEOH)
- On Apr 29, MEOH declared a quarterly dividend of 3.75¢ per share.
- This is a decrease of 90% from the prior dividend of 36¢.
- Payable Jun 30, to shareholders of record on Jun 16; ex-div: June 15.
Marine Products (MPX)
- On Apr 29, MPX declared a quarterly dividend of 8¢ per share.
- This is a decrease of 33% from the prior dividend of 12¢.
- Payable June 10, to shareholders of record on May 11; ex-div: May 8.
Rollins (ROL)
- On Apr 28, ROL declared a quarterly dividend of 8¢ per share.
- This is a decrease of 33% from the prior dividend of 12¢.
- Payable June 10, to shareholders of record on May 11; ex-div: May 8.
Winmark (WINA)
- On Apr 29, WINA declared a quarterly dividend of 5¢ per share.
- This is a decrease of 80% from the prior dividend of 25¢.
- Payable June 1, to shareholders of record on May 13; ex-div: May 12.
Woodward (WWD)
- On Apr 30, WWD declared a quarterly dividend of 8.13¢ per share.
- This is a decrease of 71% from the prior dividend of 28¢.
- Payable June 1, to shareholders of record on May 18; ex-div: May 15.
Weyerhaeuser (WY)
On May 1, WY announced it would suspend its dividend.
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.
Summary of Upcoming Ex-Dividend Dates: May 5-18, 2020
Company (Ticker) | Yield | Price (1.May) | Yrs | 5-Yr DGR | Pay- out | Pay Date |
Tuesday, 5 May (Ex-Div Date 05/05) | ||||||
TD Ameritrade (AMTD) | 3.26% | $37.99 | 10 | 18.9% | 0.31 | 05/20 |
BankFinancial (BFIN) | 5.01% | $7.98 | 6 | 38.0% | 0.1 | 05/22 |
Thursday, 7 May (Ex-Div Date 05/07) | ||||||
American Electric Power (AEP) | 3.44% | $81.39 | 10 | 5.9% | 0.7 | 06/10 |
Artesian Resources (ARTNA) | 2.91% | $34.32 | 27 | 3.0% | 0.2496 | 05/22 |
Friday, 8 May (Ex-Div Date 05/08) | ||||||
Apple (AAPL) | 1.13% | $289.07 | 8 | 10.5% | 0.82 | 05/14 |
American Campus Communities (ACC) | 5.74% | $32.76 | 7 | 4.5% | 0.47 | 05/22 |
BOK Financial (BOKF) | 4.12% | $49.55 | 15 | 4.4% | 0.51 | 05/27 |
Monday, 11 May (Ex-Div Date 05/11) | ||||||
American Water Works (AWK) | 1.85% | $119.20 | 12 | 10.1% | 0.55 | 06/02 |
Wednesday, 13 May (Ex-Div Date 05/13) | ||||||
Apogee Enterprises (APOG) | 3.84% | $19.54 | 9 | 11.8% | 0.1875 | 05/29 |
Thursday, 14 May (Ex-Div Date 05/14) | ||||||
AGCO (AGCO) | 1.27% | $50.29 | 7 | 7.4% | 0.16 | 06/15 |
Applied Industrial Technologies (AIT) | 2.49% | $51.44 | 11 | 4.4% | 0.32 | 05/29 |
Apartment Investment and Management (AIV) | 4.50% | $36.47 | 10 | 8.4% | 0.41 | 05/29 |
Allete (ALE) | 4.44% | $55.65 | 10 | 3.7% | 0.6175 | 06/01 |
Friday, 15 May (Ex-Div Date 05/15) | ||||||
Amgen (AMGN) | 2.77% | $230.98 | 10 | 18.9% | 1.6 | 06/08 |
Bunge (BG) | 5.28% | $37.89 | 19 | 9.3% | 0.5 | 06/01 |
Bar Harbor Bankshares (BHB) | 4.72% | $18.64 | 16 | 7.4% | 0.22 | 06/18 |
Black Hills (BKH) | 3.58% | $59.73 | 49 | 5.6% | 0.535 | 06/01 |
Monday, 18 May (Ex-Div Date 05/18) | ||||||
Brunswick (BC) | 2.17% | $44.16 | 7 | 14.1% | 0.24 | 06/12 |
Thanks for reading and happy investing!
