Upcoming Ex-Dividend Dates: March 9-22, 2021
Summary
- This article series provides a summary of upcoming ex-dividend dates.
- Relevant data and key statistics are provided in a summary table and include the next payout and pay date.
- Using DVK Quality Snapshots, we screen for, and highlight, a high-quality candidate.
This article was co-produced with James Marino Sr. of Portfolio Insight.
Source: Author
In this article series, we provide a summary of upcoming ex-dividend dates of stocks in Dividend Radar. Dividend Radar is a weekly automatically generated spreadsheet listing dividend growth stocks with dividend streaks of five years or more.
The ex-dividend date of stocks is usually set one business day before the record date, the cut-off date for determining which shareholders will receive the next dividend payment. If you buy a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller will receive the next dividend. If you buy the stock before the ex-dividend date, you will receive the dividend.
Upcoming Ex-Dividend Dates
The following table presents a summary of ex-dividend dates for the next two weeks. The table is divided into sections by Ex-Div Date and sorted by Ticker for each date. Yrs are years of consecutive dividend increases, Yield is the new dividend yield for the market close Price on the date listed, and 5-yr DGR is the compound annual growth rate of the dividend over a 5-year period. Note that Payout is the dollar amount payable per share or unit on the Pay Date.
| Company (Ticker) | Yrs | Price (5.Mar) | Yield | 5-Yr DGR | Pay- out | Pay Date |
| Ex-Div Date: 03/08 (Last Day to Buy: Friday, 03/05) | ||||||
| Commerce Bancshares, Inc. (OTC:CBSH) | 53 | $77.13 | 1.36% | 8.9% | 0.263 | 03/24 |
| Gaming and Leisure Properties, Inc. (GLPI) | 7 | $43.16 | 6.02% | 9.1% | 0.65 | 03/23 |
| Lancaster Colony Corporation (LANC) | 59 | $180.38 | 1.66% | 8.7% | 0.75 | 03/31 |
| LeMaitre Vascular, Inc. (LMAT) | 11 | $46.79 | 0.94% | 18.9% | 0.11 | 03/25 |
| Old Republic International Corporation (ORI) | 40 | $20.66 | 4.26% | 2.6% | 0.22 | 03/15 |
| Public Service Enterprise Group Incorporated (PEG) | 10 | $56.26 | 3.63% | 4.7% | 0.51 | 03/31 |
| Stanley Black & Decker, Inc. (SWK) | 54 | $185.31 | 1.51% | 5.4% | 0.7 | 03/23 |
| TFS Financial Corporation (TFSL) | 6 | $21.07 | 5.32% | 26.9% | 0.28 | 03/23 |
| Ex-Div Date: 03/09 (Last Day to Buy: Monday, 03/08) | ||||||
| Ameren Corporation (AEE) | 8 | $72.86 | 3.02% | 3.9% | 0.55 | 03/31 |
| Assured Guaranty Ltd. (AGO) | 10 | $43.67 | 2.02% | 10.8% | 0.22 | 03/24 |
| Anthem, Inc. (ANTM) | 11 | $333.60 | 1.35% | 8.7% | 1.13 | 03/25 |
| Auburn National Bancorporation, Inc. (AUBN) | 20 | $46.68 | 2.23% | 3.0% | 0.26 | 03/25 |
| Avnet, Inc. (AVT) | 7 | $39.00 | 2.15% | 5.0% | 0.21 | 03/24 |
| Becton, Dickinson and Company (BDX) | 49 | $246.45 | 1.35% | 5.4% | 0.83 | 03/31 |
| BWX Technologies, Inc. (BWXT) | 6 | $59.75 | 1.41% | 18.9% | 0.21 | 03/26 |
| CME Group Inc. (CME) | 11 | $213.92 | 1.68% | 11.2% | 0.9 | 03/25 |
| Canadian National Railway Company (CNI) | 25 | $112.37 | 1.60% | 12.4% | 0.615 | 03/31 |
| CNO Financial Group, Inc. (CNO) | 9 | $24.52 | 1.96% | 11.7% | 0.12 | 03/24 |
| The First of Long Island Corporation (FLIC) | 25 | $19.89 | 3.82% | 2.5% | 0.19 | 03/19 |
| Genpact Limited (G) | 5 | $41.41 | 1.04% | 0.0% | 0.108 | 03/19 |
| Hewlett Packard Enterprise Company (HPE) | 5 | $14.40 | 3.33% | 54.2% | 0.12 | 04/07 |
| HP Inc. (HPQ) | 12 | $29.75 | 2.61% | 2.6% | 0.194 | 04/07 |
| Monro, Inc. (MNRO) | 15 | $68.26 | 1.29% | 8.7% | 0.22 | 03/24 |
| Omnicom Group Inc. (OMC) | 8 | $74.51 | 3.76% | 5.4% | 0.7 | 04/08 |
| PPL Corporation (PPL) | 22 | $28.25 | 5.88% | 2.1% | 0.415 | 04/01 |
| The Travelers Companies, Inc. (TRV) | 19 | $152.36 | 2.23% | 7.2% | 0.85 | 03/31 |
| United Bancorp, Inc. (UBCP) | 8 | $15.00 | 3.80% | 9.0% | 0.143 | 03/19 |
| UMB Financial Corporation (UMBF) | 29 | $91.88 | 1.39% | 5.7% | 0.32 | 04/01 |
| W. R. Berkley Corporation (WRB) | 20 | $72.96 | 0.66% | 8.5% | 0.12 | 03/24 |
| Ex-Div Date: 03/10 (Last Day to Buy: Tuesday, 03/09) | ||||||
| Franco-Nevada Corporation (FNV) | 14 | $109.47 | 0.95% | 4.4% | 0.26 | 03/25 |
| The Home Depot, Inc. (HD) | 12 | $253.52 | 2.60% | 20.5% | 1.65 | 03/25 |
| MDU Resources Group, Inc. (MDU) | 30 | $30.70 | 2.77% | 2.6% | 0.213 | 04/01 |
| Northrim BanCorp, Inc. (NRIM) | 12 | $44.28 | 3.34% | 13.3% | 0.37 | 03/19 |
| Insperity, Inc. (NSP) | 10 | $90.84 | 1.76% | 30.4% | 0.4 | 03/25 |
| Pool Corporation (POOL) | 11 | $330.22 | 0.70% | 18.0% | 0.58 | 03/25 |
| Spire Inc. (SR) | 18 | $70.92 | 3.67% | 6.1% | 0.65 | 04/02 |
| Ex-Div Date: 03/11 (Last Day to Buy: Wednesday, 03/10) | ||||||
| Automatic Data Processing, Inc. (ADP) | 46 | $178.26 | 2.09% | 12.9% | 0.93 | 04/01 |
| Albemarle Corporation (ALB) | 27 | $143.88 | 1.08% | 5.8% | 0.39 | 04/01 |
| AMERISAFE, Inc. (AMSF) | 9 | $62.14 | 1.74% | 12.5% | 0.27 | 03/26 |
| Atlantica (AY) | 5 | $35.16 | 4.78% | 3.0% | 0.42 | 03/22 |
| Cogent Communications Holdings, Inc. (CCOI) | 9 | $58.37 | 5.17% | 13.7% | 0.755 | 03/26 |
| C&F Financial Corporation (CFFI) | 10 | $48.52 | 3.13% | 4.5% | 0.38 | 04/01 |
| Exponent, Inc. (EXPO) | 9 | $94.81 | 0.84% | 20.4% | 0.2 | 03/26 |
| First Financial Northwest, Inc. (FFNW) | 5 | $13.92 | 3.16% | 10.8% | 0.11 | 03/26 |
| First Horizon National Corporation (FHN) | 10 | $17.10 | 3.51% | 20.1% | 0.15 | 04/01 |
| Comfort Systems USA, Inc. (FIX) | 9 | $69.88 | 0.66% | 11.2% | 0.115 | 03/23 |
| Farmers National Banc Corp. (FMNB) | 5 | $15.73 | 2.80% | 29.7% | 0.11 | 03/31 |
| Haverty Furniture Companies, Inc. (HVT) | 8 | $35.89 | 2.45% | 16.4% | 0.22 | 03/25 |
| Lithia Motors, Inc. (LAD) | 11 | $375.46 | 0.33% | 9.9% | 0.31 | 03/26 |
| LCI Industries (LCII) | 6 | $134.37 | 2.23% | 0.0% | 0.75 | 03/26 |
| L3Harris Technologies, Inc. (LHX) | 20 | $187.09 | 2.18% | 11.9% | 1.02 | 03/26 |
| MGP Ingredients, Inc. (MGPI) | 6 | $64.58 | 0.74% | 51.6% | 0.12 | 03/26 |
| Nasdaq, Inc. (NDAQ) | 9 | $144.70 | 1.35% | 16.6% | 0.49 | 03/26 |
| Northern Trust Corporation (NTRS) | 9 | $99.92 | 2.80% | 14.7% | 0.7 | 04/01 |
| Perrigo Company plc (PRGO) | 19 | $41.04 | 2.34% | 12.5% | 0.24 | 03/30 |
| Reliance Steel & Aluminum Co. (RS) | 11 | $140.27 | 1.96% | 9.3% | 0.688 | 03/26 |
| Stock Yards Bancorp, Inc. (SYBT) | 11 | $53.85 | 2.01% | 11.0% | 0.27 | 04/01 |
| TriCo Bancshares (TCBK) | 9 | $47.37 | 2.11% | 11.1% | 0.25 | 03/26 |
| The Hanover Insurance Group, Inc. (THG) | 17 | $122.35 | 2.29% | 9.4% | 0.7 | 03/26 |
| Triton International Limited (TRTN) | 5 | $56.49 | 4.04% | 0.0% | 0.57 | 03/26 |
| United Bankshares, Inc. (UBSI) | 46 | $39.92 | 3.51% | 1.7% | 0.35 | 04/01 |
| Unity Bancorp, Inc. (UNTY) | 7 | $21.39 | 1.50% | 20.3% | 0.08 | 03/26 |
| Waste Management, Inc. (WM) | 18 | $118.68 | 1.94% | 7.2% | 0.575 | 03/26 |
| WesBanco, Inc. (WSBC) | 11 | $35.04 | 3.77% | 6.8% | 0.33 | 04/01 |
| Ex-Div Date: 03/12 (Last Day to Buy: Thursday, 03/11) | ||||||
| Atrion Corporation (ATRI) | 18 | $632.90 | 1.11% | 14.9% | 1.75 | 03/31 |
| BCE Inc. (BCE) | 5 | $45.00 | 5.81% | 4.5% | 0.875 | 04/15 |
| Broadridge Financial Solutions, Inc. (BR) | 14 | $142.48 | 1.61% | 14.4% | 0.575 | 04/02 |
| BancorpSouth Bank (BXS) | 9 | $32.54 | 2.34% | 16.3% | 0.19 | 04/01 |
| Community Bank System, Inc. (CBU) | 29 | $75.27 | 2.23% | 6.4% | 0.42 | 04/09 |
| Crown Castle International Corp. (REIT) (CCI) | 8 | $150.15 | 3.54% | 8.1% | 1.33 | 03/31 |
| Comerica Incorporated (CMA) | 11 | $69.88 | 3.89% | 26.8% | 0.68 | 04/01 |
| ChoiceOne Financial Services, Inc. (OTC:COFS) | 10 | $27.37 | 3.22% | 6.5% | 0.22 | 03/31 |
| Core-Mark Holding Company, Inc. (CORE) | 10 | $37.08 | 1.40% | 12.3% | 0.13 | 03/26 |
| Chesapeake Utilities Corporation (CPK) | 18 | $112.82 | 1.56% | 8.8% | 0.44 | 04/05 |
| Capital Southwest Corporation (CSWC) | 6 | $21.59 | 7.78% | 75.0% | 0.42 | 03/31 |
| Community Trust Bancorp, Inc. (CTBI) | 41 | $44.23 | 3.48% | 4.6% | 0.385 | 04/01 |
| Digital Realty Trust, Inc. (DLR) | 17 | $132.00 | 3.52% | 5.7% | 1.16 | 03/31 |
| Domino's Pizza, Inc. (DPZ) | 9 | $330.24 | 1.14% | 20.3% | 0.94 | 03/30 |
| DTE Energy Company (DTE) | 12 | $123.16 | 3.52% | 7.7% | 1.085 | 04/15 |
| Enterprise Financial Services Corp. (EFSC) | 6 | $46.11 | 1.56% | 22.4% | 0.18 | 03/31 |
| Eastman Chemical Company (EMN) | 12 | $115.28 | 2.39% | 10.0% | 0.69 | 04/05 |
| Extra Space Storage Inc. (EXR) | 12 | $123.80 | 3.23% | 10.0% | 1 | 03/31 |
| First Citizens BancShares, Inc. (FCNCA) | 5 | $779.27 | 0.24% | 6.8% | 0.47 | 04/05 |
| FBL Financial Group, Inc. (FFG) | 11 | $56.76 | 3.66% | 4.6% | 0.52 | 03/31 |
| Gilead Sciences, Inc. (GILD) | 6 | $64.62 | 4.39% | 16.1% | 0.71 | 03/30 |
| Hawthorn Bancshares, Inc. (HWBK) | 10 | $23.50 | 2.21% | 24.4% | 0.13 | 04/01 |
| Iron Mountain Incorporated (IRM) | 11 | $35.79 | 6.91% | 5.3% | 0.619 | 04/06 |
| The Coca-Cola Company (KO) | 59 | $50.79 | 3.31% | 4.4% | 0.42 | 04/01 |
| Leggett & Platt, Incorporated (LEG) | 49 | $47.34 | 3.38% | 4.9% | 0.4 | 04/15 |
| Merck & Co., Inc. (MRK) | 11 | $73.13 | 3.56% | 6.5% | 0.65 | 04/07 |
| Motorola Solutions, Inc. (MSI) | 10 | $178.87 | 1.59% | 13.0% | 0.71 | 04/15 |
| NewMarket Corporation (NEU) | 7 | $388.04 | 1.96% | 5.6% | 1.9 | 04/01 |
| National Storage Affiliates Trust (NSA) | 6 | $38.05 | 3.68% | 20.1% | 0.35 | 03/31 |
| NorthWestern Corporation (NWE) | 17 | $60.91 | 4.07% | 4.6% | 0.62 | 03/31 |
| NexPoint Residential Trust, Inc. (NXRT) | 6 | $41.78 | 3.27% | 15.7% | 0.342 | 03/31 |
| Prosperity Bancshares, Inc. (PB) | 23 | $77.22 | 2.54% | 10.9% | 0.49 | 04/01 |
| Packaging Corporation of America (PKG) | 11 | $134.95 | 2.96% | 8.9% | 1 | 04/15 |
| Regency Centers Corporation (REG) | 8 | $57.68 | 4.13% | 4.2% | 0.595 | 04/06 |
| RenaissanceRe Holdings Ltd. (RNR) | 26 | $164.38 | 0.88% | 3.1% | 0.36 | 03/31 |
| Sonic Automotive, Inc. (SAH) | 5 | $47.80 | 0.84% | 28.9% | 0.1 | 04/15 |
| Service Corporation International (SCI) | 11 | $47.50 | 1.77% | 12.1% | 0.21 | 03/31 |
| Simmons First National Corporation (SFNC) | 10 | $31.54 | 2.28% | 8.1% | 0.18 | 04/05 |
| Summit Financial Group, Inc. (SMMF) | 6 | $25.00 | 2.72% | 16.3% | 0.17 | 03/31 |
| SpartanNash Company (SPTN) | 11 | $19.44 | 4.12% | 7.4% | 0.2 | 03/31 |
| United Community Banks, Inc. (UCBI) | 7 | $34.72 | 2.19% | 26.8% | 0.19 | 04/05 |
| UGI Corporation (UGI) | 34 | $40.66 | 3.25% | 7.9% | 0.33 | 04/01 |
| UnitedHealth Group Incorporated (UNH) | 12 | $347.10 | 1.44% | 20.8% | 1.25 | 03/23 |
| Worthington Industries, Inc. (WOR) | 11 | $67.00 | 1.49% | 5.8% | 0.25 | 03/29 |
| Xcel Energy Inc. (XEL) | 18 | $61.35 | 2.98% | 6.1% | 0.458 | 04/20 |
| Ex-Div Date: 03/15 (Last Day to Buy: Friday, 03/12) | ||||||
| Federal Agricultural Mortgage Corporation (AGM) | 10 | $90.35 | 3.90% | 38.0% | 0.88 | 03/31 |
| Federal Agricultural Mortgage Corporation (AGM.A) | 10 | $79.14 | 4.45% | 38.0% | 0.88 | 03/31 |
| Avient Corporation (AVNT) | 11 | $46.94 | 1.81% | 14.3% | 0.213 | 04/08 |
| CRA International, Inc. (CRAI) | 5 | $66.16 | 1.57% | 0.0% | 0.26 | 03/26 |
| Ecolab Inc. (ECL) | 29 | $207.91 | 0.92% | 7.1% | 0.48 | 04/15 |
| Eaton Corporation plc (ETN) | 11 | $137.39 | 2.21% | 10.7% | 0.76 | 03/30 |
| Evans Bancorp, Inc. (EVBN) | 10 | $34.03 | 3.53% | 10.0% | 0.6 | 04/06 |
| First Capital, Inc. (FCAP) | 5 | $55.00 | 1.89% | 2.7% | 0.26 | 03/30 |
| First Financial Bankshares, Inc. (FFIN) | 11 | $46.71 | 1.11% | 10.5% | 0.13 | 04/01 |
| Federal Realty Investment Trust (FRT) | 54 | $105.76 | 4.01% | 3.1% | 1.06 | 04/15 |
| H&R Block, Inc. (HRB) | 5 | $19.91 | 5.22% | 5.4% | 0.26 | 04/01 |
| Universal Display Corporation (OLED) | 5 | $189.08 | 0.42% | 0.0% | 0.2 | 03/31 |
| T. Rowe Price Group, Inc. (TROW) | 35 | $172.70 | 2.50% | 11.6% | 1.08 | 03/30 |
| Ex-Div Date: 03/16 (Last Day to Buy: Monday, 03/15) | ||||||
| Allegion plc (ALLE) | 8 | $113.31 | 1.27% | 26.2% | 0.36 | 03/31 |
| Cincinnati Financial Corporation (CINF) | 61 | $104.26 | 2.42% | 5.5% | 0.63 | 04/15 |
| Fidelity National Financial, Inc. (FNF) | 10 | $37.48 | 3.84% | 11.0% | 0.36 | 03/31 |
| First Savings Financial Group, Inc. (FSFG) | 9 | $65.83 | 1.09% | 7.2% | 0.18 | 03/31 |
| Hillenbrand, Inc. (HI) | 13 | $49.81 | 1.73% | 1.2% | 0.215 | 03/31 |
| Horace Mann Educators Corporation (HMN) | 12 | $42.91 | 2.89% | 3.7% | 0.31 | 03/31 |
| Hooker Furniture Corporation (HOFT) | 6 | $35.78 | 2.01% | 10.5% | 0.18 | 03/31 |
| Intercontinental Exchange, Inc. (ICE) | 8 | $114.97 | 1.15% | 15.7% | 0.33 | 03/31 |
| ITT Inc. (ITT) | 9 | $87.05 | 1.01% | 7.4% | 0.22 | 04/05 |
| Lam Research Corporation (LRCX) | 7 | $547.70 | 0.95% | 35.3% | 1.3 | 04/07 |
| Mercury General Corporation (MCY) | 34 | $62.72 | 4.03% | 0.4% | 0.633 | 03/31 |
| Marten Transport, Ltd. (MRTN) | 5 | $16.85 | 0.95% | 27.2% | 0.04 | 03/31 |
| New Jersey Resources Corporation (NJR) | 26 | $40.22 | 3.31% | 6.8% | 0.333 | 04/01 |
| Everest Re Group, Ltd. (RE) | 8 | $246.90 | 2.51% | 9.2% | 1.55 | 03/31 |
| Renasant Corporation (RNST) | 5 | $42.08 | 2.09% | 5.3% | 0.22 | 03/31 |
| South Jersey Industries, Inc. (SJI) | 22 | $26.68 | 4.54% | 3.1% | 0.303 | 04/05 |
| Silgan Holdings Inc. (SLGN) | 17 | $40.38 | 1.39% | 8.5% | 0.14 | 03/31 |
| Telephone and Data Systems, Inc. (TDS) | 47 | $19.95 | 3.51% | 3.8% | 0.175 | 03/31 |
| Universal Health Realty Income Trust (UHT) | 36 | $68.94 | 4.03% | 1.5% | 0.695 | 03/31 |
| Utah Medical Products, Inc. (UTMD) | 11 | $87.45 | 1.30% | 1.9% | 0.285 | 04/02 |
| Vishay Intertechnology, Inc. (VSH) | 5 | $23.35 | 1.63% | 9.6% | 0.095 | 03/30 |
| The Western Union Company (WU) | 7 | $24.09 | 3.90% | 7.7% | 0.235 | 03/31 |
| Ex-Div Date: 03/17 (Last Day to Buy: Tuesday, 03/16) | ||||||
| Best Buy Co., Inc. (BBY) | 18 | $102.85 | 2.72% | 19.1% | 0.7 | 04/08 |
| Popular, Inc. (BPOP) | 6 | $69.23 | 2.31% | 39.8% | 0.4 | 04/01 |
| Meridian Bancorp, Inc. (EBSB) | 6 | $18.25 | 2.19% | 39.8% | 0.1 | 04/01 |
| Gladstone Investment Corporation (GAIN) | 10 | $12.05 | 6.97% | 2.5% | 0.07 | 03/31 |
| Huntington Bancshares Incorporated (HBAN) | 10 | $16.23 | 3.70% | 19.1% | 0.15 | 04/01 |
| Gladstone Land Corporation (LAND) | 7 | $18.33 | 2.95% | 2.9% | 0.045 | 03/31 |
| Medical Properties Trust, Inc. (MPW) | 9 | $21.24 | 5.27% | 4.2% | 0.28 | 04/08 |
| Synovus Financial Corp. (SNV) | 7 | $45.63 | 2.89% | 25.7% | 0.33 | 04/01 |
| Ex-Div Date: 03/18 (Last Day to Buy: Wednesday, 03/17) | ||||||
| Air Lease Corporation (AL) | 9 | $47.99 | 1.33% | 29.1% | 0.16 | 04/07 |
| Alerus Financial Corporation (OTC:ALRS) | 21 | $30.31 | 1.98% | 7.4% | 0.15 | 04/09 |
| Chubb Limited (CB) | 28 | $171.67 | 1.82% | 3.1% | 0.78 | 04/09 |
| Financial Institutions, Inc. (FISI) | 11 | $30.01 | 3.60% | 5.4% | 0.27 | 04/02 |
| Prologis, Inc. (PLD) | 8 | $97.37 | 2.59% | 8.8% | 0.63 | 03/31 |
| Douglas Dynamics, Inc. (PLOW) | 11 | $49.61 | 2.30% | 4.7% | 0.285 | 03/31 |
| QTS Realty Trust, Inc. (QTS) | 8 | $59.06 | 3.39% | 8.0% | 0.5 | 04/06 |
| Republic Bancorp, Inc. (RBCAA) | 23 | $43.93 | 2.80% | 7.9% | 0.308 | 04/16 |
| Walmart Inc. (WMT) | 48 | $129.12 | 1.70% | 2.0% | 0.55 | 04/05 |
| Ex-Div Date: 03/19 (Last Day to Buy: Thursday, 03/18) | ||||||
| Broadcom Inc. (AVGO) | 12 | $450.14 | 3.20% | 52.1% | 3.6 | 03/31 |
| First Guaranty Bancshares, Inc. (FGBI) | 6 | $17.49 | 3.66% | 5.4% | 0.16 | 03/31 |
| J & J Snack Foods Corp. (JJSF) | 16 | $159.84 | 1.44% | 9.4% | 0.575 | 04/13 |
| Philip Morris International Inc. (PM) | 13 | $86.16 | 5.57% | 3.3% | 1.2 | 04/09 |
| Ex-Div Date: 03/22 (Last Day to Buy: Friday, 03/19) | ||||||
| Amphenol Corporation (APH) | 10 | $61.56 | 1.88% | 14.4% | 0.29 | 04/14 |
| Cabot Microelectronics Corporation (CCMP) | 6 | $164.54 | 1.12% | 0.0% | 0.46 | 04/23 |
| Restaurant Brands International Inc. (QSR) | 9 | $62.47 | 3.39% | 36.4% | 0.53 | 04/06 |
| Ex-Div Date: 03/23 (Last Day to Buy: Monday, 03/22) | ||||||
| Bank First Corporation (BFC) | 8 | $73.99 | 1.14% | 5.2% | 0.21 | 04/07 |
Previous Post: Upcoming Ex-Dividend Dates: March 2-12, 2021
High-Quality Candidates
DVK Quality Snapshots provide an elegant and effective way to assess the quality of dividend growth stocks. The system employs five quality indicators and assigns 0-5 points to each quality indicator, for a maximum quality score of 25 points.
We assigned quality scores to all Dividend Radar stocks with upcoming ex-dates and screened those with quality scores above 22, producing a shortlist of the highest-quality candidates.
Below, we present the quality scores, an assessment of fair value (whether Above, At, or Below fair value), and two measures of each stock's recent performance (1-year and 3-year trailing total returns [TTR]). Key metrics from the previous table are repeated here for convenience:
Source: Created by the authors from data in Dividend Radar and using DVK Quality Snapshots.
Dividend Radar views fair value as a range. Only one of these high-quality stocks is trading in the margin of safety below its fair value range. Another stock Home Depot (HD) is trading within its fair value range. The remaining stocks are trading at premium valuations.
For TTR, Dividend Radar provides 1-year and 3-year totals, adding the returns due to stock price appreciation (or depreciation) and dividend payments over each time frame. In the summary table, we highlight 3-year TTRs of 10% or higher in orange, and each 1-year TTR that exceeds the 3-year TTR, in green (indicating stronger recent performance). The TTRs of three of the shortlisted stocks indicate stronger recent performance, HD, UNH, and WMT.
We also color-code the Yield and 5-yr DGR columns, preferring dividend yields above 2.5% and 5-year dividend growth rates of 10% or higher. Three shortlisted stocks offer higher yields (HD, KO, and MRK) and three have double-digit percentage 5-year DGRs (ADP, HD, and UNH).
An Interesting Candidate
Ideally, we'd like to see green cells in each of the Fair Value, 1-yr TTR, Yield, and 5-yr DGR columns. That rarely happens, though, so we look for a candidate that offers the best metrics overall, at least based on our current investment objectives.
We recently highlighted UNH (here) and HD (here), so let's look at one of the other high-quality candidates, MRK.
Merck & Co, Inc is a global health care company that offers health solutions through prescription medicines, vaccines, biologic therapies, and animal health products. MRK was founded in 1891 and is headquartered in Kenilworth, New Jersey.
The stock has a quality score of 23 (out of 25):
MRK is rated Exceptional (quality score 25).
The stock yields 3.56% at $73.13 per share and has a modest 5-year DGR of 6.5%.
Over the past 10 years, MRK underperformed the S&P 500, mainly due to its poor relative performance since February/March 2020. MRK returned 211% versus the S&P 500's 253% over the past 10 years:
Here is a chart showing MRK's dividend growth history through the end of 2020:
Source: Portfolio-Insight.com
The stock's dividend growth seems to be accelerating, with both 1-year and 3-year DGRs higher than the 5-year and 10-year DGRs. Likewise, MRK's earnings growth appears to be accelerating, with earnings estimates projected to rise by about 9% in 2021 and 2022:
The stock's dividend payout ratio is 41%, which is low for most companies according to Simply Safe Dividends:
A quick way to estimate fair value is to divide the annualized dividend ($2.60) by the stock's 5-year average yield (3.00%). That results in a fair value [FV] estimate of $87 based on MRK's yield history:
CFRA's FV is $71, Finbox.com's FV is $87, Morningstar's FV is $100, and Simply Wall St's FV is $146. The average of the five fair value estimates is $98. Given the stock's current share price of $73, it would imply that MRK is trading at a discount of about 25% to fair value.
Here are the most recent Seeking Alpha articles covering MRK:
- Bullish: Merck: Positioned To Deliver For Dividend Investors In 2021, by James Marino
- Neutral: Analysts Think The Market Is All Wrong On Merck, by Geoff Considine
- Very Bullish: Among The Dogs Of The DOW, Merck Is The Best Of Breed, by Chuck Walston
Conclusion: MRK is a high-quality dividend growth stock trading below fair value. Dividend growth investors should consider the stock below $98 per share. For more conservative investors, a buy below $88 is more appropriate.
Please note that we're not recommending MRK or any of the stocks listed in this article. Readers should do their own research on these companies before buying shares.
This article was written by
Analyst’s Disclosure: I am/we are long ADP, HD, KO, MRK, UNH. 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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Comments (5)
After a gap of ~6 years, I recently added MRK a partial position .....will keep on accumulating if/when it is trading below $72....