A Utility Announces its 58th Year of Dividend Growth

Insurer Mercury General announced its annual dividend increase this week.
Photo: Flickr.com/GotCredit.com

Two long-time dividend growth companies announced increases this week.  Insurer Mercury General, which now has a forward yield of 4.5% announced its 27th year of dividend growth and utility Vectren Corporation extended its streak of dividend growth to 58 years.

Two other companies that I anticipated announcing increases this week deferred their announcements.  I expect Emerson and United Bankshares, along with 3 other companies, to announce their annual increases next week.

Dividend Increases Announced This Week

Mercury General Corporation (MCY)

Industry: Financial – Insurance

Dividend Payment: 62.5 cents per share – up 0.4% from prior level of 62.25 cents

Dividend Paid On: 12/28

Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 12/13

Number of Years of Dividend Increases: 27

Current Forward Yield: 4.51%

 

Vectren Corporation (VVC)

Industry: Utilities – Diversified

Dividend Payment: 45 cents per share – up 7.1% from prior level of 42 cents

Dividend Paid On: 12/1

Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 11/14

Number of Years of Dividend Increases: 58

Current Forward Yield: 2.69%

 

Dividend Increase Announcements Expected Next Week

Automatic Data Processing, Inc. (ADP)

Atmos Energy Corporation (ATO)

Emerson (EMR)

United Bankshares Inc. (UBSI)

Universal Corporation (UVV)

 

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