Retailer Ross Stores announced a 40% dividend increase this week. Photo: Flickr.com/Nicholas Eckhart
The first full week of March was punctuated by a massive dividend increase by discount retailer Ross Stores. The company announced a 40% increase to its payout, raising it from 64 cents to 90 cents a year. Consumer goods company Colgate-Palmolive and defense company rounded out the week with their annual dividend announcements.
The rest of March should be very quiet for announcements of dividend increases – the next one among the companies I track is defense electronics company Raytheon, which should announce its annual increase at the end of the month.
Dividend Increases Announced This Week
Industry: Consumer Goods
Dividend Payment: 42 cents per share – up 5.0% from prior level of 40 cents
Dividend Paid On: 5/15
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 4/19
Number of Years of Dividend Increases: 55
Current Forward Yield: 2.34%
General Dynamics Corporation (GD)
Industry: Aerospace & Defense
Dividend Payment: 93 cents per share – up 10.7% from prior level of 84 cents
Dividend Paid On: 5/11
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 4/12
Number of Years of Dividend Increases: 27
Current Forward Yield: 1.62%
Industry: Retail
Dividend Payment: 22.5 cents per share – up 40.6% from prior level of 16 cents
Dividend Paid On: 3/30
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 3/16
Number of Years of Dividend Increases: 24
Current Forward Yield: 1.17%
Dividend Increase Announcements Expected Next Week
None.