Another reason for monitoring dividend increase announcements is to see if stocks I own will be changing their dividend payments. If so, I make Yield on Cost (YoC) adjustments and update DivGro's projected annual dividend income. This month, one of DivGro's holdings, Philip Morris International Inc (PM), announced a dividend increase of 6.38%.
Below is a table of dividend increases announced for stocks in my watch list, during the first two weeks of September. Dividend amounts are annualized.
|Extra Space Storage, Inc.||EXR||50.30||1.60||1.88||3.74%||+17.50|
|Yum! Brands, Inc.||YUM||71.74||1.48||1.64||2.29%||+10.81|
|New Jersey Resources Corp||NJR||50.60||1.68||1.80||3.56%||+7.14|
|Philip Morris International Inc.||PM||84.20||3.76||4.00||4.75%||+6.38|
|Vector Group Ltd||VGR||22.01||1.52||1.60||7.27%||+5.26|
|BHP Billiton Limited (ADR)||BHP||64.21||2.36||2.48||3.84%||+5.08|
• Philip Morris International Inc (PM) | growth 6 yrs | yield 4.75% @ $84.20 | 5-yr CAGR 28.4%
Headquartered in New York City, PM is the leading international tobacco company, with seven of the world's top 15 international brands, including Marlboro, the number one cigarette brand worldwide. PM' products are sold in more than 180 markets. PM declared a quarterly dividend of $1.00 per share on Wednesday, September 10. The dividend is payable on October 10 to shareholders of record on September 25. The increase adds $7.44 to DivGro's projected annual dividend income. YoC is now 4.92%.
Several stocks I don't own are raising their dividend by more than 7%:
• Extra Space Storage, Inc. (EXR) | growth 5 yrs | yield 3.74% @ $50.30 | 5-yr CAGR 7.7%
EXR is real estate investment trust based in Salt Lake City, Utah. The company has been involved in the self-storage industry since its inception 30 years ago. EXR's board of directors approved an increase in its quarterly dividend to 47¢ per share, an increase of 17.5%. The dividend is payable on September 30, to shareholders of record on September 15.
• Daktronics, Inc. (DAKT) | growth 8 yrs | yield 3.03% @ $13.21 | 5-yr CAGR 27.2%
Incorporated on December 9, 1968, DAKT is one of the world's largest suppliers of electronic scoreboards, computer-programmable displays, and large screen video displays and control systems. Recently, DAKT increased its quarterly dividend to 10¢ per share, payable on September 26 to shareholders of record on September 15. The dividend increase just more than 11%.
• Yum! Brands, Inc. (YUM) | growth 10 yrs | yield 2.29% @ $71.74 | 5-yr CAGR 15.1%
YUM is the world's largest restaurant company in terms of system units, with about 38,000 restaurants in more than 120 countries. The company's brands include KFC, Pizza Hut, and Taco Bell. Recently, YUM's board of directors approved a dividend increase of about 11%. The quarterly cash dividend will increase to 41¢ per share, payable on November 7 to shareholders of record on October 15.
• New Jersey Resources Corp (NJR) | growth 18 yrs | yield 3.56% @ $50.60 | 5-yr CAGR 8.2%
NJR is an exempt energy services holding company with annual revenues in excess of $3 billion. It provides retail and wholesale natural gas and related energy services to customers from the Gulf Coast to New England. NJR will pay a cash dividend of 42¢ per share on October 1. The new dividend represents an increase of 7.14%.
Please note that I'm not recommending any of these stocks. Readers should do their own research on these companies before buying shares.
Thanks for reading! Do any of these stocks look interesting to you?