Upcoming Ex-Dividend Dates: April 29-May 12, 2022

Apr. 28, 2022 9:00 AM ETAON, IDA, INTC, LSTR, MAIN, O, PNW, SPY, WMT2 Comments23 Likes
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FerdiS
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Summary

  • This weekly article series provides a summary of upcoming ex-dividend dates in a quick reference table.
  • The table includes relevant data and key statistics as well as the next payout and pay date.
  • We provide a snapshot analysis of one of the stocks worth considering and include performance, valuation, and earnings charts.

Hydroelectric Power Station Turbines, Hoover Dam Fuel and Power Generation

YinYang/E+ via Getty Images

This article was co-produced with James Marino Sr. of Portfolio Insight.

Graphic depicting important dates for dividend-paying stocks.

Created by the author.

In this article series, we summarize upcoming ex-dividend dates for stocks in Dividend Radar, a weekly automatically generated spreadsheet of dividend growth stocks with dividend increase streaks of at least five years.

To earn the next dividend, be sure to buy a stock before the ex-dividend date, which is usually one business day before the record date. If you wait until the ex-dividend date or thereafter, unfortunately, you won't receive the next dividend payment! Instead, the seller will receive the next 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 (on a trailing 12-month basis). Note that Payout is the dollar amount payable per share or unit on the Pay Date.

Company (Ticker) Yrs Price Fwd 5-Yr Next Pay
(04/27) Yield DGR Payout Date
Ex-Div Date: 04/29 (Last Day to Buy: Thursday, 04/28)
Ally Financial (ALLY) 6 $40.21 2.98% 32.8% 0.3 05/16
Aon plc (AON) 11 $311.22 0.66% 9.1% 0.56 05/13
Bank of Montreal (BMO) 7 $107.64 3.89% 6.5% 1.33 05/26
Sierra Bancorp (BSRR) 10 $22.40 4.11% 12.0% 0.23 05/12
Casey's General Stores (CASY) 23 $208.18 0.67% 8.0% 0.35 05/16
Donegal (DGICA) 21 $13.62 4.70% 3.1% 0.165 05/16
Donegal (DGICB) 20 $14.38 3.96% 3.5% 0.148 05/16
East West Bancorp (EWBC) 5 $71.90 2.23% 11.7% 0.4 05/16
Home Federal Bancorp of Louisiana (HFBL) 9 $20.50 1.95% 16.9% 0.1 05/16
Hingham Institution for Savings (HIFS) 15 $325.25 0.68% 10.9% 0.57 05/11
Kinder Morgan (KMI) 5 $18.40 5.87% 16.7% 0.278 05/16
Magellan Midstream Partners (MMP) 21 $50.07 8.29% 4.5% 1.038 05/13
Realty Income (O) 28 $71.66 4.14% 3.4% 0.247 05/13
Orrstown Financial Services (ORRF) 7 $24.36 3.12% 15.2% 0.19 05/09
Pinnacle West Capital (PNW) 11 $74.41 4.57% 5.6% 0.85 06/01
Value Line (VALU) 8 $57.52 1.53% 5.3% 0.25 05/11
Ex-Div Date: 05/02 (Last Day to Buy: Friday, 04/29)
Idacorp (IDA) 11 $108.67 2.76% 6.6% 0.75 05/31
Main Street Capital (MAIN) 11 $41.02 6.29% 0.9% 0.215 05/13
1st Source (SRCE) 35 $44.20 2.81% 11.3% 0.31 05/13
Ex-Div Date: 05/03 (Last Day to Buy: Monday, 05/02)
Heritage Financial (HFWA) 11 $24.68 3.40% 11.3% 0.21 05/18
MarketAxess (MKTX) 13 $261.27 1.07% 19.3% 0.7 05/18
VSE (VSEC) 9 $39.67 1.01% 9.5% 0.1 05/18
Ex-Div Date: 05/04 (Last Day to Buy: Tuesday, 05/03)
Armstrong World Industries (AWI) 5 $86.47 1.07% N/A 0.231 05/19
Cambridge Bancorp (CATC) 24 $84.18 3.04% 6.1% 0.64 05/19
Cheniere Energy Partners (CQP) 5 $53.45 5.24% 9.7% 0.775 05/13
Delek Logistics Partners (DKL) 10 $49.55 7.87% 8.0% 0.98 05/12
Entergy (ETR) 8 $120.68 3.35% 2.7% 1.01 06/01
Franklin Electric (FELE) 30 $71.99 1.08% 12.5% 0.195 05/19
Hess Midstream (HESM) 5 $29.99 6.89% N/A 0.55 05/13
Independent Bank (IBCP) 8 $20.51 4.29% 18.8% 0.22 05/16
Independent Bank (IBTX) 9 $69.48 2.19% 31.2% 0.38 05/19
Landstar System (LSTR) 9 $153.60 0.65% 22.4% 0.25 05/27
NextEra Energy Partners (NEP) 8 $68.02 4.16% 14.9% 0.733 05/12
Northwest Bancshares (NWBI) 13 $12.75 6.27% 5.6% 0.2 05/16
S&T Bancorp (STBA) 10 $28.49 4.07% 7.9% 0.3 05/19
Constellation Brands (STZ) 7 $249.31 1.22% 13.7% 0.8 05/19
Constellation Brands (STZ.B) 7 $281.51 0.98% 13.9% 0.72 05/19
Ex-Div Date: 05/05 (Last Day to Buy: Wednesday, 05/04)
Bank of Marin Bancorp (BMRC) 17 $30.32 3.17% 12.8% 0.24 05/13
Colony Bankcorp (CBAN) 5 $17.08 2.52% 75.4% 0.108 05/20
CMS Energy (CMS) 16 $70.21 2.62% 6.9% 0.46 05/31
Central Valley Community Bancorp (CVCY) 5 $19.88 2.41% 14.9% 0.12 05/20
First Commonwealth Financial (FCF) 6 $13.83 3.33% 9.7% 0.12 05/20
Franklin Financial Services (FRAF) 8 $32.04 4.00% 8.6% 0.32 05/25
Intel (INTC) 8 $45.22 3.23% 6.2% 0.365 06/01
Lamb Weston (LW) 6 $66.84 1.47% 38.3% 0.245 06/03
Sirius XM (SIRI) 6 $5.97 1.51% 29.6% 0.022 05/25
Walmart (WMT) 49 $154.24 1.45% 1.9% 0.56 05/31

Previous Post: Upcoming Ex-Dividend Dates: April 22-May 5, 2022

High-Quality Candidates

To assess the quality of dividend growth stocks, we use DVK Quality Snapshots, an elegant and effective system devised by David Van Knapp. The system employs five quality indicators and assigns 0-5 points to each quality indicator, for a maximum quality score of 25 points.

We assign quality scores to every Dividend Radar stock with upcoming ex-dates. This week, we screened for the stocks with quality scores of 21 or higher, finding five 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.

High-quality dividend growth stocks with upcoming ex-dividend dates

Created by the author from data in Dividend Radar and using DVK Quality Snapshots

Dividend Radar regards fair value as a range. One stock in this week's shortlist is trading within the fair value range (IDA), while two stocks are trading at premium valuations above the fair value range (AON and WMT) and two stocks are trading at discounted valuations below the fair value range (INTC and LSTR).

TTR adds the returns due to stock price appreciation (or depreciation) and dividend payments over each time frame. Dividend Radar provides 1-year and 3-year TTRs. In the summary table, we highlight 3-year TTRs of 10% or higher in orange, and 1-year TRRs that exceed the 3-year TTR, in green (indicating stronger recent performance).

Three of this week's candidates have 3-year TTRs above 10% (AON, LSTR, and WMT), and two candidates have 1-year TTRs that exceed their 3-year TTRs (AON and IDA).

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.

IDA and INTC yield more than 2.5%, while LSTR has a 5-year dividend growth rate above 10%.

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've already focused on INTC and WMT, so let's look at Dividend Contender IDA this week.

Founded in 1915 and headquartered in Boise, Idaho, IDACORP is a holding company engaged in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydroelectric generating plants in southern Idaho and eastern Oregon, and three natural gas-fired plants in southern Idaho.

IDA is rated Fine (quality score 19-22):

IDA stock rank

Created by the author from a personal spreadsheet based on DVK Quality Snapshots.

The stock yields 2.76% at $108.67 per share and has a 5-year DGR of 6.6%.

Over the past 10 years, IDA slightly underperformed the SPDR S&P 500 ETF (SPY), an ETF designed to track the 500 companies in the S&P 500 index:

IDA underperformed SPY over the past decade

Portfolio-Insight.com

IDA delivered total returns of 255% versus SPY's 260%, a margin of 0.98-to-1.

If we extend the time frame of comparison to the past 20 years, IDA slightly outperformed SPY, returning 489% versus SPY's 471%. That's a margin of 1.04-to-1.

Here is a chart showing IDA's dividend growth history through the end of 2021:

IDA dividend growth history

Portfolio Insight

I love dividend growth charts such as IDA's, which show steady dividend growth over many years! One thing to point out is that IDA's dividend growth rate [DGR] is decelerating, which we can see by dividing the 5-year DGR by the 10-year counterpart: 6.72 ÷ 9.15 = 0.73. A ratio below 1.00 means deceleration.

The company's EPS history likewise is impressive, with increases every year for the past ten years! Earnings estimates for FY 2023 and FY 2024 look strong, too!

IDA earnings growth history

Portfolio Insight

IDA's payout ratio of 59% is "low for utilities", according to Simply Safe Dividends:

IDA earnings and free cash flow payout ratios

Simply Safe Dividends

The company has plenty of room to continue paying and raising its dividend. Moreover, Simply Safe Dividends considers IDA's dividend Safe with a Dividend Safety Score of 84.

Let's now consider IDA's valuation.

IDA stock Valuation and Key Metrics

Portfolio Insight

A quick way to estimate fair value is to divide the annualized dividend ($3.00) by the stock's 5-year average yield (2.67%). That results in a fair value [FV] estimate of $112 based on IDA's dividend yield history.

For reference, Simply Wall St's FV is $96, Morningstar's FV is $99, Finbox.com's FV is $113, and Portfolio Insight's FV is $113.

My own FV estimate of IDA is $109.

The average of all these estimates is $107. IDA is currently trading above $108.

Here are the most recent Seeking Alpha articles covering IDA:

Conclusion: IDA is a high-quality dividend growth stock trading just below my fair value estimate of $109. For stocks rated Fine, I require a discounted valuation relative to my fair value estimate, so my Buy Below price is $109 per share. For conservative investors, a buy below $98 would be more appropriate.

Please note that we're not recommending IDA 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

FerdiS profile picture
25.88K Followers
FerdiS invests in dividend growth stocks and writes options to boost dividend income. He manages DivGro, a portfolio of mainly dividend growth stocks created in January 2013. With investment and trading experience spanning nearly 20 years, FerdiS enjoys writing articles about dividend growth investing, options trading, stock selection, portfolio management, and passive income generation. His DivGro blog hosts more than 1,000 posts and a live, public spreadsheet with full details of his DivGro portfolio, allowing readers to follow along in his investment journey. FerdiS is collaborating with the founders of Portfolio Insight, an online platform for portfolio management and investment analysis. Together, we maintain and publish Dividend Radar, a free spreadsheet of dividend growth stocks, on a weekly basis.
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Disclosure: I/we have a beneficial long position in the shares of INTC either through stock ownership, options, or other derivatives. 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.

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