Photo: Flickr.com/Mike Mozart
It was a good week for dividend growth stocks, with Cintas and Lincoln Electric announcing double-digit increases. In particular, Cintas continued its outstanding dividend history with a 22% increase. Disappointingly, AptarGroup – which I expected to announce its annual dividend increase this week – decided instead to hold its dividend steady. I expect six more companies to announce increases next week.
Dividend Increases Announced This Week
Industry: Business Services
Dividend Payment: $1.62 per share – up 21.8% from prior level of $1.33
Dividend Paid On: 12/8
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 11/9
Number of Years of Dividend Increases: 35
Current Forward Yield: 1.06%
*Cintas pays dividends once a year
Lincoln Electric Holdings (LECO)
Industry: Industrial Goods
Dividend Payment: 39 cents per share – up 11.4% from prior level of 35 cents
Dividend Paid On: 1/12/2018
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 12/28
Number of Years of Dividend Increases: 23
Current Forward Yield: 1.63%
Dividend Increase Announcements Expected Next Week
Middlesex Water Company (MSEX)