Costco announced its 15th year of dividend growth this week. Photo: Flickr.com/Mike Mozart
Three double-digit increases punctuated eight dividend growth announcements this week. Regional bank Cullen/Frost led the way with a 17.5% increase to give the company a 2.3% forward yield. The other two companies with double-digit increases were food wholesaler Costco and industrial equipment manufacturer Franklin Electric. Read on for the details….
Dividend Increases Announced This Week
Industry: Financial – Regional Banking
Dividend Payment: 67 cents per share – up 17.5% from prior level of 57 cents
Dividend Paid On: 6/15
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 5/30
Number of Years of Dividend Increases: 25
Current Forward Yield: 2.31%
Industry: Retail
Dividend Payment: 57 cents per share – up 14.0% from prior level of 50 cents
Dividend Paid On: 5/25
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 5/10
Number of Years of Dividend Increases: 15
Current Forward Yield: 1.16%
Franklin Electric Company (FELE)
Industry: Industrial Electrical Equipment
Dividend Payment: 12 cents per share – up 11.6% from prior level of 10.75 cents
Dividend Paid On: 5/17
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 5/2
Number of Years of Dividend Increases: 26
Current Forward Yield: 1.15%
Industry: Business Services – Retail
Dividend Payment: $1.36 per share – up 6.3% from prior level of $1.28
Dividend Paid On: 5/11
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 6/1
Number of Years of Dividend Increases: 47
Current Forward Yield: 1.91%
Industry: Technology
Dividend Payment: $1.57 per share – up 4.7% from prior level of $1.50
Dividend Paid On: 6/9
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 5/9
Number of Years of Dividend Increases: 23
Current Forward Yield: 4.29%
Industry: Healthcare – Diversified
Dividend Payment: 90 cents per share – up 7.1% from prior level of 84 cents
Dividend Paid On: 6/12
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 5/25
Number of Years of Dividend Increases: 56
Current Forward Yield: 2.80%
Industry: Utilities – Diversified
Dividend Payment: 26 cents per share – up 4.0% from prior level of 25 cents
Dividend Paid On: 7/1
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 6/14
Number of Years of Dividend Increases: 31
Current Forward Yield: 2.14%
Industry: Integrated Oil & Gas
Dividend Payment: 82 cents per share – up 6.5% from prior level of 77 cents
Dividend Paid On: 5/11
Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 6/11
Number of Years of Dividend Increases: 36
Current Forward Yield: 4.22%
Dividend Increase Announcements Expected Next Week
Apple (AAPL)
Artesian Resources Corporation (ARTNA)
Connecticut Water Service (CTWS)
Expeditors International of Washington (EXPD)