Fastenal sells small industrial equipment, like fasteners, nuts and bolts through vending machines around the country. Photo: Flickr.com/Scott Lewis
Industrial equipment wholesaler Fastenal and hot water manufacturer A. O. Smith announced double-digit increases this week, blowing away my expectations. Utility Con Ed and REIT Realty Income Corporation also announced dividend increases.
Next week will be one of the busiest weeks of the year for dividend growth stocks, with nine long-time dividend growth companies including two S&P 500 Dividend Aristocrats announcing dividend increases.
Dividend Increases Announced This Week
Industry: Industrial Goods
Dividend Payment: 18 cents per share – up 28.6% from prior level of 14 cents
Dividend Paid On: 2/15
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 1/31
Number of Years of Dividend Increases: 26
Current Forward Yield: 1.07%
Industry: Utility – Electricity
Dividend Payment: 71.5 cents per share – up 3.6% from prior level of 69 cents
Dividend Paid On: 3/15
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 2/13
Number of Years of Dividend Increases: 44
Current Forward Yield: 3.65%
Industry: Industrial Equipment
Dividend Payment: 37 cents per share – up 15.6% from prior level of 32 cents
Dividend Paid On: 2/27
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 1/30
Number of Years of Dividend Increases: 20
Current Forward Yield: 2.75%
Industry: REIT
Dividend Payment: 21.9 cents per share – up 3.1% from prior level of 21.25 cents
Dividend Paid On: 2/15
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 1/31
Number of Years of Dividend Increases: 25
Current Forward Yield: 4.95%
Dividend Increase Announcements Expected Next Week
California Water Service Group (CWT)
Kimberly-Clark Corporation (KMB)