Dividend Aristocrats Week in Review for August 9, 2014: Leggett & Platt, Illinois Tool Works, Aqua America Announce Increases

Between the S&P Dividend Aristocrats and High Yield Dividend Aristocrats, 15 companies announced dividend payouts.  Three Dividend Aristocrats announced increases, including one that has now increased its payout for 59 years.  Six other Dividend Aristocrats announced regular payouts.

Defense contractor General Dynamics, maker of the Mine-Resistant Ambush Protected vehicle for the military and law enforcement, announced their latest dividend payment this week.  GD has increased dividends for 17 straight years. Photo courtesy Raymond Wambsgans/flickr.com.

Defense contractor General Dynamics, maker of the Mine-Resistant Ambush Protected vehicle for the military and law enforcement, announced their latest dividend payment this week. General Dynamics, which is part of S&P’s High Yield Dividend Aristocrats index, has increased dividends for 17 straight years.
Photo courtesy Raymond Wambsgans/flickr.com.

The company with the 59-year streak of increases is global engineering firm Dover (DOV).  The Illinois-based company is increasing its quarterly payout by 6.7%, from 37.5 cents to 40 cents per share.  The increased dividend will be paid on September 15th to shareholders of record on August 29th.  The annual dividend of $1.60 gives the stock a current yield of 1.87%.

Residential and commercial furnishings manufacturer Leggett & Platt (LEG) announced an increase to its quarterly dividend by a penny.  The 3.3% increase raises the annualized dividend from $1.20 to $1.24 per share.  This is the 43rd year of dividend increases for Leggett & Platt.  The new dividend will be paid on October 15th to shareholders of record on September 15th.  With the increase, the stock currently yields 3.68%.

Illinois Tool Works (ITW) announced its 52nd consecutive annual dividend increase this week.  The 15.5% increase will result in an annualized dividend of $1.94; the quarterly dividend will increase from 42 cents to 48.5 cents per share.  The dividend will be paid on October 7th to shareholders of record on September 30th.  Illinois Tool Works’ current yield will increase to 2.29% with the new payout.

Six Dividend Aristocrats announced regular dividend payments this week:

Archer Daniels Midland Company (ADM) will pay a quarterly dividend of 24 cents per share on September 11th to shareholders of record on August 21st.  ADM has increased dividends for 53 years and last increased its dividend in the 1st quarter of the year when the company raised the quarterly dividend by 26.3%, from 19 cents to the current rate of 24 cents per share.  At current prices, ADM stock yields 1.96%

Health care services company Cardinal Health (CAH) will pay a dividend of 34.25 cents per share on October 15th to shareholders of record on October 1st.  Cardinal Health’s dividend growth has been exceptional, having increased it more than 10-fold over the last decade and, more recently doubling the dividend since 2009.  In the 2nd quarter, Cardinal Health increased its dividend by 13.2%.  The company’s stock currently yields 1.93%.  Read my company summary for Cardinal Health.

ADP (ADP) announced a regular dividend of 48 cents per share this week.  The dividend will be paid on October 1st to shareholders of record on September 12th.  ADP provides human resources and payroll support to tens of thousands of businesses across more than 125 countries.  The company last announced a dividend increase at the end of 2013, when it raised the quarterly dividend by 10.3%, from 43.5 cents to the current rate.  I expect ADM to announce its 40th consecutive annual dividend increase in November.  The stock currently yields 2.37%.  Read my company summary for ADP.

Global engineering firm Emerson (EMR) will pay a regular quarterly dividend of 43 cents per share on September 10th to shareholders of record on August 15th.  Emerson is another long standing Dividend Aristocrat, having increased its dividend for 57 consecutive years.  Like ADP, I expect the company to announce its 58th consecutive annual dividend increase in November.  At current values, the stock yields 2.74%.

Wisconsin-based Bemis Company, Inc. (BMS), manufacturer of packaging and pressure sensitive materials, will pay a regular quarterly dividend of 27 cents per share on August 19th to shareholders of record on September 2nd.  This payout represents a 1-cent per share increase over the 3rd quarter 2013 dividend.  The company last increased its dividend at the beginning of 2014 and I anticipate it will announce its 32nd annual dividend increase at the beginning of 2015.  The stock currently yields 2.71%.

Ecolab, Inc. (ECL) has paid dividends for 77 consecutive years.  Owners of shares on September 16th will receive a dividend of 27.5 cents per share on October 15th.  The company announced in its press release last December that it had increased dividends for 22 years, but if you look at their dividend history page they’ve clearly increased dividends for longer than that.  Ecolab stock currently yields 1.01%.

Six High Yield Dividend Aristocrats Announce Dividend Increases or Regular Payouts

Last week, I predicted that water utility Aqua America (WTR) would announce a dividend increase.  Sure enough, on Monday Aqua America announced its 23rd consecutive year of dividend increases, raising the quarterly payout by 8.6% to 16.5 cents from 15.2 cents per share.  With an annualized dividend of 66 cents per share, the stock has a current yield of 2.74%.

Carlisle Companies Incorporated (CSL) announced their 38th consecutive annual dividend increase.  The company will pay a quarterly dividend of 25 cents per share, up 13.6% from the prior quarterly dividend of 22 cents per share.  Carlisle manufactures products for a variety of niche markets, including defense electronics, commercial roofing, agriculture, mining, and construction.  The dividend will be paid on September 1st to shareholders of record on August 18th.  With the new annualized dividend of $1.00, Carlisle stock currently yields 1.23%.

Real estate investment trust Federal Realty (FRT) is increasing its quarterly dividend for the 47th straight year.  Shareholders of record on September 22nd will receive 87 cents per share, up 11.5% from the previous quarterly rate of 78 cents per share.  Investors will receive the dividend on October 15th.  With the increase, Federal Realty stock now yields 2.86%.

Defense contractor General Dynamics (GD) will pay a regular quarterly dividend of 62 cents per share on November 14th to shareholders of record on October 10th.  General Dynamics has increased dividends for 17 years and in March increased the quarterly dividend by 10.7% from 56 cents per share.  The new annualized dividend rate of $2.48 translates into a current yield of 2.12%.

Two High Yield Aristocrat Energy Companies Announce Regular Dividend Payments

Natural gas distributor Atmos Energy (ATO) will pay a quarterly dividend of 37 cents on September 8th to shareholders of record on August 25th.  With an annualized dividend of $1.48, the stock currently yields 3.05%.  Atmos has increased its dividend for 30 years and in November 2013 increased the annual dividend by 5.7%.

Vectren Corporation (VVC), will pay a quarterly dividend of 36 cents per share on September 2nd to shareholders of record on August 18th.  Vectren is an energy holding company whose subsidiaries provide gas and electricity to customers in Indiana and Ohio.  Other subsidiaries provide energy infrastructure services and coal mining.  In November 2013, Vectren increased its quarterly dividend by 1.4%, from 35.5 cents per share marking the 54th consecutive year of dividend growth for the company and its predecessors.  With the increase, Vectren stock now yields 3.74%.

There are over 50 S&P 500 companies that have increased dividends for more than a quarter century.  See the full list of S&P Dividend Aristocrats.

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