- This article provides a summary of upcoming ex-dividend dates.
- We present a summary table with relevant data and key statistics, including the next payout and pay date.
- We highlight one of the high-quality stocks with an upcoming ex-dividend date.
This article was co-produced with James Marino Sr. of Portfolio Insight.
This article series provides a summary of upcoming ex-dividend dates of stocks in Dividend Radar, a weekly automatically generated spreadsheet listing dividend growth stocks with dividend streaks of five years or more.
Source: Created by the author
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.
|Ex-Div Date: 04/13 (Last Day to Buy: Monday, 04/12)|
|Kadant Inc. (KAI)||9||$184.38||0.54%||7.2%||0.25||05/12|
|Ex-Div Date: 04/14 (Last Day to Buy: Tuesday, 04/13)|
|AbbVie Inc. (ABBV)||9||$107.54||4.84%||18.2%||1.3||05/14|
|Abbott Laboratories (ABT)||8||$120.90||1.49%||9.3%||0.45||05/17|
|Accenture plc (ACN)||17||$287.71||1.22%||9.7%||0.88||05/14|
|American Financial Group, Inc. (AFG)||16||$118.24||1.69%||12.4%||0.5||04/26|
|Alamo Group Inc. (ALG)||7||$159.37||0.35%||9.9%||0.14||04/29|
|Activision Blizzard, Inc. (ATVI)||12||$95.78||0.49%||9.5%||0.47||05/06|
|Camden National Corporation (CAC)||9||$47.83||3.01%||10.5%||0.36||04/30|
|City Holding Company (CHCO)||11||$81.74||2.84%||6.4%||0.58||04/30|
|Johnson Outdoors Inc. (JOUT)||8||$149.56||0.56%||19.7%||0.21||04/29|
|Mid-America Apartment Communities, Inc. (MAA)||12||$146.85||2.79%||5.2%||1.025||04/30|
|McGrath RentCorp (MGRC)||29||$81.44||2.14%||10.9%||0.435||04/30|
|Norwood Financial Corp. (NWFL)||21||$26.04||3.99%||4.1%||0.26||05/03|
|RGC Resources, Inc. (RGCO)||21||$22.37||3.31%||6.4%||0.185||05/01|
|RPM International Inc. (RPM)||47||$91.76||1.66%||6.7%||0.38||04/30|
|Trinity Industries, Inc. (TRN)||11||$28.70||2.93%||12.7%||0.21||04/30|
|Watsco, Inc. (WSO)||8||$276.10||2.83%||19.2%||1.95||04/30|
|Watsco, Inc. (WSO.B)||8||$255.50||3.05%||19.2%||1.95||04/30|
|Ex-Div Date: 04/15 (Last Day to Buy: Wednesday, 04/14)|
|Graham Holdings Company (GHC)||5||$619.19||0.98%||-5.2%||1.51||05/13|
|Quaker Chemical Corporation (KWR)||14||$244.47||0.65%||4.4%||0.395||04/30|
|The PNC Financial Services Group, Inc. (PNC)||10||$180.21||2.55%||17.7%||1.15||05/05|
|WD-40 Company (WDFC)||12||$280.07||1.03%||11.4%||0.72||04/30|
|Ex-Div Date: 04/16 (Last Day to Buy: Thursday, 04/15)|
|Graco Inc. (GGG)||24||$73.40||1.02%||11.7%||0.188||05/05|
|Ex-Div Date: 04/20 (Last Day to Buy: Monday, 04/19)|
|Colgate-Palmolive Company (CL)||58||$79.78||2.26%||3.0%||0.45||05/14|
|The Clorox Company (CLX)||44||$190.13||2.34%||7.6%||1.11||05/07|
|The Greenbrier Companies, Inc. (GBX)||6||$45.86||2.35%||9.1%||0.27||05/12|
|Lowe's Companies, Inc. (LOW)||59||$198.51||1.21%||16.5%||0.6||05/05|
|West Pharmaceutical Services, Inc. (WST)||28||$296.52||0.23%||7.5%||0.17||05/05|
|Zoetis Inc. (ZTS)||9||$159.85||0.63%||19.8%||0.25||06/01|
|Ex-Div Date: 04/21 (Last Day to Buy: Tuesday, 04/20)|
|H.B. Fuller Company (FUL)||52||$64.06||1.05%||4.6%||0.168||05/06|
|Royal Bank of Canada (RY)||6||$93.48||3.63%||6.4%||1.08||05/21|
|Ex-Div Date: 04/22 (Last Day to Buy: Wednesday, 04/21)|
|Williams-Sonoma, Inc. (WSM)||15||$183.22||1.29%||7.6%||0.59||05/28|
Previous Post: Upcoming Ex-Dividend Dates: April 9-19, 2021
We use DVK Quality Snapshots 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 the Dividend Radar stocks with upcoming ex-dates and screened them for ones with quality scores above 21. This produced 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 stocks is trading in the margin of safety below the fair value range ((RY)). One stock is trading within the fair value range ((LOW)), while the other stocks are trading at premium valuations above fair value.
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 TRRs that exceeds the 3-year TTR, in green (indicating stronger recent performance). Except for CL, the TTRs of all the shortlisted stocks indicate stronger recent performance.
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. Only one of the shortlisted stocks offers a yield above 2.5% ((RY)) and only one has a double-digit percentage 5-year DGR ((LOW)).
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.
Let's look at the only stock with a dividend yield above 2.5%, Dividend Challenger Royal Bank of Canada. Founded in 1864 and headquartered in Toronto, Canada, Royal Bank of Canada operates as a diversified financial services company worldwide.
RY is rated Fine (quality score range 19-22):
Source: Author's spreadsheet using the sources of DVK Quality Snapshots
The stock yields 3.63% at $93.48 per share and has a 5-year DGR of 6.4%.
Over the past 10 years, RY underperformed the S&P 500, returning only 121% versus the S&P 500's 279%:
Here is a chart showing RY's dividend growth history through the end of 2020:
Note that RY declares dividends in CA$ (Canadian Dollar), whereas Portfolio Insight presents dividend payments in US$ and also calculates the dividend increase streak in US$. Therefore, the chart above has a built-in foreign exchange adjustment.
Here is the company's own chart of its dividend payments in CA$ terms:
Source: Royal Bank of Canada Investor Relations
The stock's dividend growth has been very consistent over the past decade. It is important to consider the impact of exchange rates on dividends paid in foreign currency.
Here is the company's earnings growth chart:
RY's earnings show a general uptrend in US$ terms, except for the pandemic-affected 2020 results.
The stock's earnings payout ratio is 45% and edging high for banks, according to Simply Safe Dividends:
Source: Simply Safe Dividends
Let's now turn to RY's valuation. A quick way to estimate fair value is to divide the annualized dividend ($3.39) by the stock's 5-year average yield (3.95%). That results in a fair value [FV] estimate of $86 based on RY's dividend yield history:
For reference, Morningstar's FV is $92, CFRA's FV is $97, Simply Wall St's FV is $101, and Finbox.com's FV is $108. The average of the five fair value estimates is $97. Given the stock's current share price of $93.48, it would imply that RY is trading at a discount of about 4% to fair value.
Here are the most recent Seeking Alpha articles covering RY, all Bullish:
- Royal Bank Of Canada: Showing Strong Growth In A Challenging Environment, by Discount Fountain
- Royal Bank Of Canada: Look No Further For High, Stable Yields, by Capra Investment Research
- Royal Bank Of Canada: Grab The 4% Yield Now, by Growth at a Good Price
Conclusion: RY is a quality dividend growth stock trading at a slight discount. For investors wanting to diversify their portfolios with foreign stocks, RY may be appropriate below $97. Consider the tax implications, though. Personally, I'm holding out for a price below $87 per share before adding to my existing position. That would be a good entry point for conservative investors, too.
Please note that we're not recommending RY 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 ACN, LOW, RY. 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.