Dividend Aristocrats Week in Review for June 14, 2014: Target Announces a 21% Dividend Increase

Five Aristocrats announced dividend events this week:

Target has increased its annual dividend six-fold since 2004. Photo courtesy Mike Mozart/flickr.com.

Target has increased its dividend payout more than six-fold – from 30 cents to $1.90 per share – since 2004.
Photo courtesy Mike Mozart/flickr.com.

For the 11th time in 12 years, Target Corporation (TGT) announced a double-digit percentage dividend increase, raising their quarterly dividend by 20.9%, from 43 cents to 52 cents per share.  The new dividend, which is Target’s 188th consecutive dividend since going public in 1967, is payable on September 10th to shareholders of record on August 20th.  The company, which is projected to pay a total of $1.90 in dividends this year, has increased its dividend more than six-fold since 2004.  At an annualized dividend rate of $2.08, the stock currently yields 3.63%.  More information is available on the Dividend Aristocrat Overview page for Target.

Medical technology company C. R. Bard (BCR) will pay a quarterly dividend of 22 cents per share on August 1st to shareholders of record on July 21st.  The dividend is an increase of a penny per share, or 4.8%, from the prior quarterly dividend of 21 cents.  With an annual payout of 84 cents per share and a current yield of 0.61%, the stock is one of the lowest yielding Dividend Aristocrats.  C. R. Bard has increased dividends annually for 43 years.

Healthcare company, Abbott Laboratories (ABT) announced a regular dividend payment of 22 cents per share, payable on August 15th to shareholders of record on July 15th.  Abbott has paid quarterly dividends since 1924 and has increased dividends annually for 42 years.  The company last increased its dividend at the beginning of 2014 when it raised the quarterly payout by 57%, from 14 cents per share to 22 cents per share.  The next increase is expected in February 2015.  Abbott currently yields 2.21%.

Insurer The Chubb Corporation (CB) will pay its latest quarterly dividend of 50 cents per share on July 15th to shareholders of record on June 27th.  Chubb has increased dividends annually for 32 years and in February announced a 13.6% increase to the current annualized rate of $2.00 per share.  Chubb stock currently yields 2.14%.

Finally, Colgate-Palmolive (CL) will pay a quarterly dividend of 36 cents per share on August 15th to shareholders of record on July 18th.  Colgate-Palmolive manufactures personal, home and pet care products for consumers worldwide and has paid dividends to investors since 1895.  Colgate announced a 5.9% increase in its quarterly dividend in March, from 34 cents per share to 36 cents per share.  With an annualized dividend payment of $1.44, Colgate stock yields 2.12%.

There are 54 S&P Dividend Aristocrats that have increased dividends for more than a quarter century.  See the full list of Dividend Aristocrats.

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