Fastenal, A. O. Smith Announce Double-Digit Increases

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

A. O. Smith Corporation (AOS)

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%

 

Consolidated Edison (ED)

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%

 

Fastenal Company (FAST)

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%

 

Realty Income Corporation (O)

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

Black Hills Corporation (BKH)

Church & Dwight Company (CHD)

California Water Service Group (CWT)

J. B. Hunt Transport (JBHT)

Kimberly-Clark Corporation (KMB)

Polaris Industries (PII)

Praxair (PX)

SJW Corporation (SJW)

S&P Global, Inc. (SPGI)

 

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