Dividend Aristocrats Week in Review for October 11, 2014: Two Future Aristocrats Announce Dividends

This week’s activity in dividend growth stocks saw six companies – 2 Dividend Aristocrats and 4 High Yield Dividend Aristocrats – make dividend announcements. A company that produces specialty coatings and sealants and a heavy machinery company that began paying dividends in 1933 are among this week’s dividend growth stocks that announced dividend events this week.

Caterpillar manufactures and sells heavy machinery for the construction and other industries.   Caterpillar has only increased dividends for 21 years, but is on track to become a Dividend Aristocrat in 2018. Photo courtesy Caterpillar website.

Caterpillar manufactures and sells heavy machinery for the construction and other industries. Caterpillar has only increased dividends for 21 years, but is on track to become a Dividend Aristocrat in 2018.
Photo from the Caterpillar website.

Caterpillar Inc. (CAT), which produces heavy machinery for the construction and energy industries, will pay a quarterly dividend of 70 cents per share on November 20th. The stock will go ex-dividend (that is, the date by which you must own the stock to collect the dividend) on October 16th. Caterpillar has paid dividends since 1933 and increased them for the last 21 years. Since Caterpillar has only increased dividends for 21 years, it is a member of the S&P High Yield Dividend Aristocrat index, but not the original Dividend Aristocrat index. (A company only needs to have increased dividends for 20 years, not 25, to be a member of the High Yield Dividend Aristocrats.) However, as a member of the S&P 500, Caterpillar is on track to become a Dividend Aristocrat in 2018. The stock currently yields 3.01%.

Sealant and specialty coating manufacturer RPM International Inc. (RPM) is increasing its quarterly dividend by 8.3%, from an annualized 96 cents per share to $1.04 per share. This marks RPM’s 41st year of dividend increases. The company will pay the first quarterly dividend of 26 cents on October 31st and the stock will go ex-dividend on October 16th. With the increase, RPM’s forward yield is 2.52%.

Dividend Aristocrat Walgreen Company (WAG, Company Summary) will pay its latest quarterly dividend of 33.75 cents on December 12th, with the stock going ex-dividend on November 13th. Walgreens is the largest drugstore chain in the United States, with over 8,200 stores around the country and in the U.S. Virgin Islands. The company has paid a dividend for 82 years. Walgreens has increased its common stock dividend since 1976 and has more than doubled it since 2009. The stock currently yields 2.14%.

C. R. Bard, Inc. (BCR) will pay a quarterly dividend of 22 cents per share on October 31st. The stock’s ex-dividend date is October 16th. The company is a developer and manufacturer of specialty medical technologies. Bard is a Dividend Aristocrat, having increased dividends for 43 straight years and has a 5-year compounded annual dividend growth rate of 5.44%. With an annualized dividend of 88 cents per share, the stock currently yields 0.59%.

United Technologies Corporation (UTX) announced this week that investors would receive a cash dividend of 59 cents per share for the 4th quarter of 2014. The company will pay the dividend on December 10th and the share will go ex-dividend on November 12th. United Technologies develops and provides high technology products and services to the building and aerospace industries. The company has increased dividends since 1994 and paid dividends since 1936. Like Caterpillar above, United Technologies is on track to become a Dividend Aristocrat in 2018. The stock currently yields 2.36%.

Finally, Tanger Factory Outlets (SKT), operator of upscale factory outlets around the United States and Canada, will pay a 24 cent per share quarterly dividend on November 14th. The stock’s ex-dividend date is October 28th. Tanger Factory Outlets has increased its dividend since coming public in May 1993. Tanger’s stock currently yields 2.85%.

Coming up next week, we can expect to see the following dividend growth stocks announce their latest dividend payments:

CompanyTicker Symbol
Air Products & ChemicalsAPD
AptarGroupATR
Brown & BrownBRO
Consolidated EdisonED
Coca-ColaKO
National Retail PropertiesNNN
People's United FinancialPBCT
PepsiCoPEP
PPG IndustriesPPG
Sherwin-WilliamsSHW
Sonoco ProductsSON
V. F. CorpVFC

Have a great week!

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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