Dividend Aristocrats for Week Ending January 31, 2014: 5 Payouts Plus 3 Dividend Increases

This week 8 Dividend Aristocrats announced their quarterly payouts, with 3 of them announcing dividend increases.  The three that announced dividend increases were:

Insurer Cincinnati Financial (CINF) increased their quarterly dividend by 4.8% from 42 to 44 cents per share.  The increased dividend is payable on April 15th to shareholders of record on March 19th.  In the past, CINF has increased their regular dividend in the October payout, so this represents an acceleration of the usual dividend increase pattern.  CINF has increased dividends for 53 consecutive years and this increase, if it were to hold would be the 54th consecutive annual increase.  With the new dividend, CINF yields 3.63% on an annual basis.

Healthcare facility REIT HCP, Inc (HCP) announced a new quarterly dividend of 54.5 cents, up 3.8% from the previous dividend of 52.5 cents.  The higher dividend will be paid on February 25th to shareholders of record on February 10th.  HCP has increased dividends for 29 consecutive years and has grown their dividend by 3.45% annually since 2009.  At HCP’s current price, the stock yields 5.57% on an annual basis.

McGraw Hill Financial Inc. (MHFI), owner of the S&P Dow Jones Indicies and J. D. Power brands, announced a 7.1% increase in its quarterly dividend, from 28 cents to 30 cents per share.  The new dividend will be paid on March 12th to shareholders of record on February 26th.  The new dividend represents an average compound annual dividend growth rate of 9.5% since MHFI began growing its dividend in 1974.  More recently, MHFI has grown its dividend at an annual rate of 5.9% since 2009, excluding special dividend of $2.50 at the end of 2012.

The five companies that announced regular payouts this week were:

Becton, Dickinson and Company (BDX), a medical technology technology company, declared a quarterly dividend of 54.5 cents per share payable on March 31st to holders of record on March 10th.  At its current price, the dividend yield is 2.02%.  BDX last increased its dividend in September 2013, raising the payout by 10%.

Energy companies Chevron (CVX) and Exxon Mobil (XOM) declared quarterly dividends of $1.00 and 63 cents, respectively.  Both are payable on March 10th, with CVX paying to shareholders of record of February 14th and XOM paying to shareholders of record of February 10th.  Both companies last increased their dividends in June 2013 and, if the pattern continues, will increase their dividend on the next payout cycle in June 2014.  CVX, which has increased its dividend for 26 straight years currently yields 3.58%, while XOM yields 2.73% and has increased its dividend for 31 consecutive years.

McDonald’s (MCD) will pay an 81 cent per share quarterly dividend on March 17th to shareholders of record on March 3rd.  In December 2013, MCD increased dividends for the 37th consecutive year; the next increase is expected in December 2014.  With an annual payout  projected to be $3.24, MCD has an annual yield of 3.44% at its current price.

W.W. Grainger, Inc (GWW), a supplier of maintenance, repair and operating products, announced a quarterly dividend of 93 cents per share payable on March 1st to shareholders of record on February 10th.  GWW has increased dividends for the last 42 years, starting in 1971, and is expected to announce another dividend increase in April to be paid in June.  In 2013, GWW increased its dividend by 16% from 80 cents to 93 cents per share.  With the current quarterly payout and at current prices, GWW yields 1.59%.

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