Dividend Aristocrats Week in Review for April 19, 2014: PPG Increases Dividends by 9.8%

Dividend Aristocrat Sherwin-Williams announced their latest dividend payout this week. Photo courtesy of The Boston Public Library via Flickr.

Dividend Aristocrat Sherwin-Williams, which has paid dividends since 1877, announced their latest dividend payout this week.
Photo courtesy of The Boston Public Library via Flickr.

Five Dividend Aristocrats announced their latest quarterly dividends, including one that increased their latest dividend increase:

Specialty materials company PPG Industries     (PPG) announced a quarterly dividend increase of 6 cents, or 9.84%.  The new quarterly dividend of 67 cents is payable on June 12th to shareholders of record of May 12th.  This dividend increase comes on top of 2 cent increases in 2012 and 2013, which represented increases of 3.51% and 3.39% respectively. PPG has paid quarterly dividends continuously since 1899, and the new annualized dividend of $2.68 means the stock now yields 1.34%.

Consolidated Edison, Inc. (ED), which operates several subsidiaries which are responsible for providing regulated utility service to the Greater New York City area, will pay its latest quarterly dividend of 63 cents per share on June 15th to shareholders of record on May 14th.  Con Ed last increased its quarterly dividend by 2.44% at the beginning of 2014.  With an annualized dividend rate of $2.52, the stock currently yields 4.46%.

Medical technology company C. R. Bard, Inc (BCR) announced a regular quarterly dividend of 21 cents per share, payable on May 9th to shareholders on April 28th.  C. R. Bard has increased its quarterly dividend by a penny per share per year since 2004, and last increased its dividend from 20 to 21 cents in August 2013.  The next dividend increase is expected to be paid at the beginning of August 2014.  The stock currently pays 84 cents per year which translates to a yield of 0.60%.

Stanley Black & Decker (SWK), a diversified manufacturer of global brands such as DeWALT, Bostitch, Powers Fasteners, and others, announced its regular quarterly dividend of 50 cents per share.  The dividend is payable on June 17th to shareholders on June 4th.  With an annualized dividend of $2.00, the stock currently yields 2.44%.  Stanley Black & Decker, which was formed when Stanley Tools merged with Black & Decker in 2010, has paid dividends continuously since 1877 and increased dividends since 1968.  The company is expected to announce its next dividend increase in July and to pay the increased dividend out in September.

Paint and coatings producer The Sherwin-Williams Company (SHW) announced that the company will pay a regular quarterly dividend of 55 cents per share on May 30th to shareholders of record on May 16th.  Sherwin-Williams has increased dividends annually since 1979, and at the beginning of 2014 increased the dividend by 10%.  The company pays $2.20 per share annually and currently yields 1.11%.

One More Thing…

While not a Dividend Aristocrat, Barron’s noted that packaging manufacturer Sonoco (SON) announced its 32nd year of dividend growth this week.  Sonoco will increase its quarterly dividend by 3.2%, to 32 cents from 31 cents per share.  The increased dividend will be paid on June 10th to shareholders of record on May 16th.  With an annual rate of $1.28, Sonoco’s stock currently yields 3.04%.  The company has paid out quarterly dividends continuously since 1925.

I mention Sonoco here because it meets the criteria of a Dividend Aristocrat, except that it isn’t part of the S&P 500 index.  Sonoco has shown consistent dividend growth over an extended period of time and consequently has shown the ability to grow earnings over time to support these increased dividends.  Companies like this are worth looking at and I will work analysis and reporting of these companies into the blog.

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