Dividend Aristocrats Week in Review for May 24, 2014: Pentair Announces 38th Consecutive Annual Dividend Increase

McDonalds announced their latest dividend payout this week. Photo courtesy David Schott via flickr.com.

McDonalds announced their latest dividend payout this week, continuing a pattern since 1976.
Photo courtesy David Schott via flickr.com.

This week, fluid and thermal management company Pentair Ltd (PNR) announced that shareholders approved the board of directors’ proposal to increase the per share dividend by 25%, beginning with the next payout in the 3rd quarter of 2014.  Pentair will pay $1.20 per share over the next four quarters (3rd and 4th quarters of 2014 and the 1st and 2nd quarters of 2015) in equal installments of 30 cents per share.  This is an increase of 6 cents per share, or 25%, in each quarter.  Pentair paid out 96 cents per share over the prior 4 quarters; this latest increase is Pentair’s 38th consecutive year of increasing dividends.  The dividend increase gives Pentair a current yield of 1.61%.

The dates of the dividend payments were not announced, but based on past payments Pentair will likely pay the increased dividends in July 2014, October 2014, January 2015, and April 2015.

Four other Dividend Aristocrats announced regular dividend payments this week as well:

Alcoholic beverage company Brown-Forman (BF-B), maker of brands such as Jack Daniel’s Tennessee Whiskey and Southern Comfort, announced a regular quarterly dividend of 29 cents per share.  The dividend will be paid on July 1st to shareholders of record on June 4th.  Brown-Forman has increased dividends for 30 consecutive years and paid regular quarterly dividends for 68 years.  The last time Brown-Forman increased the dividend payout was in December 2013 when the quarterly dividend went from 25.5 cents to 29 cents per share, an increase of 13.7%.  Brown-Forman stock currently has a annual yield of 1.27%.

Multinational food marketer Hormel Foods Corporation (HRL) announced a 20-cent per share, payable on August 15th to shareholders of record on July 21st.  This is the 344th consecutive quarterly dividend that the company has paid to investors, as the company has paid quarterly dividends since coming public in 1928.  Hormel Foods has increased regular dividends each year since 1967 and last increased the dividend at the beginning of 2014 when the quarterly dividend was increased from 17 cents to 20 cents per share.  Hormel Foods currently yields 1.71%.  Hormel has more than doubled their dividend payout over the last five years; more information is available on the company summary page for Hormel (coming soon).

Global food products distributor Sysco Corporation (SYY) will pay a regular quarterly dividend of 29 cents per share on July 25th to shareholders of record on July 3rd.  Sysco has increased dividends since 1977 and increased the quarterly dividend by a penny in the 1st quarter of 2014 from 28 to 29 cents per share, an increase of 3.6%.  Sysco currently yields 3.17%.

McDonald’s (MCD), the world’s leading foodservice retailer, declared a quarterly dividend of 81 cents per share.  The dividend is payable on June 16th to shareholders of record on June 2nd.  This is the third payout of 81 cents; the dividend was last increased in December 2013 when the company raised it by 4 cents, or 5.2% to the current rate.  McDonald’s has paid dividends since 1976 and began increasing dividends in 1977; more information on McDonald’s dividend history is available on the company summary page.  The stock currently yields 3.18%.

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