Sunday, February 8, 2015

Dividend Increases, January 19-30, 2015

I'm a little behind on my posts and this one will contain some old news, but I wanted to push it out, nevertheless. I like being able to scan through a list of dividend increases to see if anything piques my interest. It didn't help that so many companies (no fewer than 32) on my watch list announced dividend increases in this period!

As regular readers know, I monitor dividend increases for stocks in my watch list because it is a convenient way to identify dividend growth candidates. Companies that increase dividends regularly show confidence in their future earnings growth potential. Another reason is that I track the yield on cost (YoC) of stocks in DivGro. When dividends increase, I make YoC adjustments and update DivGro's projected annual dividend income, a measure of the income potential of the portfolio over the next 12 months.

In the last two weeks of January, the following stocks in my watch list announced dividend increases. Only one of these, Energy Transfer Partners, LP (NYSE:ETP), is a DivGro holding.  The table is sorted by last column, %Incr., and dividends are annualized:

Dividend Increases: January 19-30, 2015
CompanyTickerYieldPrice
(8 Feb)
Yrs5-yr
DGR
PEG
ratio
Prev.
Div.
New
Div.
%Incr.
Valero Energy CorpVLO2.92%$54.86513.9%0.431.101.60+45.45
First Interstate Bancsystem IncFIBK3.05%$26.266n/a1.440.640.80+25.00
Chesapeake Lodging TrustCHSP3.80%$36.896n/a4.291.201.40+16.67
East West BancorpEWBC2.03%$39.46570.5%1.510.720.80+11.11
Cardinal Financial CorpCFNL2.29%$19.19653.4%1.000.400.44+10.00
Praxair IncPX2.28%$125.252210.2%1.892.602.86+10.00
Sandy Spring Bancorp IncSASR3.39%$25.98515.5%2.030.800.88+10.00
HCI Group IncHCI2.47%$48.646n/a0.341.101.20+9.09
Applied Industrial Technologies IncAIT2.51%$43.01610.8%1.271.001.08+8.00
Northwest Bancshares IncNWBI4.73%$11.8565.9%3.370.520.56+7.69
Simon Property Group IncSPG2.87%$195.08621.8%5.235.205.60+7.69
CMS Energy CorpCMS3.25%$35.69916.7%3.231.081.16+7.41
New Jersey ResourcesNJR2.74%$65.7196.6%4.781.681.80+7.14
Provident Financial Services IncPFS3.46%$18.4956.4%2.940.600.64+6.67
Principal Financial Group IncPFG2.90%$49.65721.4%1.151.361.44+5.88
CenterPoint EnergyCNP4.46%$22.22104.6%4.690.950.99+4.21
First American Financial CorpFAF2.86%$34.946n/a1.870.961.00+4.17
Targa Resources Partners LPNGLS7.02%$46.1798.3%0.343.123.24+3.85
Black Hills CorpBKH3.23%$50.21451.9%2.811.561.62+3.85
HCP IncHCP5.16%$43.82303.4%9.322.182.26+3.67
Norfolk SouthernNSC2.19%$107.791410.3%1.482.282.36+3.51
Targa Resources CorpTRGP3.20%$94.425n/a0.872.933.02+3.07
Allete IncALE3.65%$55.3552.2%3.171.962.02+3.06
Alliance Holdings GP LPAHGP6.56%$55.771015.3%0.933.573.66+2.52
Kinder Morgan IncKMI4.35%$41.415n/a4.321.761.80+2.27
Energy Transfer Partners, LPETP6.65%$59.8530.1%15.833.903.98+2.05
Global Partners LPGLP7.05%$37.7465.3%0.432.612.66+1.92
Holly Energy Partners LPHEP6.10%$34.73115.6%1.72.092.12+1.44
EnLink Midstream LLCENLC4.46%$33.67554.0%1.581.481.50+1.35
DCP Midstream Partners LPDPM8.04%$38.8194.6%3.373.083.12+1.30
Exterran Partners LPEXLP9.59%$23.2683.2%1.092.212.23+0.90
Healthcare Services Group IncHCSG2.11%$33.5137.0%10.940.700.71+0.74
Previous post: Dividend Increases: January 2-16, 2015

In the table, Yield indicates the new dividend yield for the market close Price on 02/08/2015. 5-yr DGR is the compound annual growth rate of the dividend over a five year period. PEG ratio is the Price/Earnings to Growth ratio, or P/E divided by the 5-year future growth rate.

Energy Transfer Partners, LP


Founded in 2002 and based in Dallas, Texas, ETP is a master limited partnership that owns and operates one of the largest and most diversified portfolios of energy assets in the United States. ETP's natural gas operations includes miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas.

I bought 100 units of ETP at $47.42 per unit on 18 January 2013 at an initial YoC of 7.51%. In the two years I've owned ETP, the company increased its distribution six times (the last six consecutive quarters!). ETP declared a quarterly distribution of 99.5¢ per unit, an increase of 2% over the prior quarterly distribution and an increase 8.2% compared to the year-ago quarterly distribution. It is payable 13 February. The increase raises ETP's YoC to 8.39% and DivGro's projected annual dividend income by $8 to $5,206.35.

Other Dividend Increasers


• Valero Energy Corp (NYSE:VLO)
Based in San Antonio, Texas, VLO is an independent petroleum refining and marketing company. VLO's refineries produce conventional and premium gasoline, including gasoline meeting the specifications of the California Air Resources Board. VLO's ethanol segment produces ethanol and distillers grain. On Friday, 23 January, the company increased its quarterly dividend to 40¢ per share. The dividend is payable on 3 March to shareholders of record on 11 February.

• First Interstate Bancsystem Inc (NASDAQ:FIBK)
Incorporated in 1971 and headquartered in Billings, Montana, First Interstate BancSystem, Inc is a financial and bank holding company. Through its wholly owned bank subsidiary, FIBK, the company delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout Montana, Wyoming and western South Dakota. On 22 January, the board of directors declared a quarterly dividend of 20¢ per share, payable on 13 February to shareholders of record on 2 February. The new dividend represents an increase of 25.00%.

• Chesapeake Lodging Trust (NYSE:CHSP)
CHSP, organized in June 2009 as a self-advised real estate investment trust (REIT), focuses on investments primarily in upper-upscale hotels in business and convention markets. Additionally, CHSP selectively invests in premium select-service and extended-stay hotels in urban settings or unique locations in the United States. CHSP is based in Annapolis, Maryland. Recently, CHSP increased its quarterly dividend from 30¢ per share to 35¢ per share, an increase of 16.67%. The dividend is payable on 15 April, to shareholders of record on 31 March.

• East West Bancorp (NASDAQ:EWBC)
Founded 1998 and based in Pasadena, California, EWBC operates as a bank holding company for East West Bank (The Bank) and other banking or banking-related subsidiaries. The Bank operates locations in the United Sates, China and Hong Kong and offers multilingual services to customers in English, Cantonese, Mandarin, Vietnamese and Spanish. The company's board of directors approved an increase in the quarterly dividend of 11.11% to 20¢ a share. The dividend is payable on 17 February to shareholders of record at the close of business on 2 February.

• Cardinal Financial Corp (NASDAQ:CFNL)
CFNL was founded in 1997 and is headquartered in McLean, Virginia. The company was incorporated under the laws of Virginia as a financial holding company in June 2003. Through its subsidiary, Cardinal Bank, the company offers traditional bank loan and deposit products and services to both commercial and retail customers in Northern Virginia, Maryland, and the greater Washington, D.C. metropolitan area. CFNL's board of directors declared an increase in its quarterly dividend to 11¢ per share, an increase of 10.00%. The ex-dividend date is 3 February and the dividend will be paid on 23 February.

• Praxair Inc (NYSE:PX)
Founded in 1907, PX was the first company in the United States to produce oxygen from air using a cryogenic process and continues to be a major technological innovator in the industrial gases industry. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. The company announced an increase in its quarterly dividend of 10.00% to 71.5¢ per share. The dividend is payable 16 March to shareholders of record on 6 March.

• Sandy Spring Bancorp Inc (NASDAQ:SASR)
SASR is a holding company for Sandy Spring Bank, an independent, community oriented, and full-service commercial banking business. The bank serves individuals and businesses in central Maryland and Northern Virginia. The company was founded in 1868 and is headquartered in Olney, Maryland. SASR's board of directors declared an increase in its quarterly dividend to 22¢ per share, an increase of 10.00%. The ex-dividend date is 9 February and the dividend will be paid on 18 February.

• HCI Group Inc (NYSE:HCI)
Headquartered in Tampa, Florida, HCI is a holding company that conducts its business activities through its subsidiaries. The company provides property and casualty homeowners’ insurance, condominium-owners’ insurance, tenants’ insurance, and dwelling fire insurance to individuals owning or occupying property in the state of Florida. The company declared a quarterly dividend of 30¢ per share, an increase of 9.09% over the prior quarterly dividend. The dividend is payable 20 March.

• Applied Industrial Technologies Inc (NYSE:AIT)
Founded in 1923, AIT is an industrial distributor in North America, Australia and New Zealand, supplying customers in a range of industries with products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and general maintenance and mill supply products. AIT's board of directors declared an increase in its quarterly dividend to 27¢ per share, an increase of 8.00%. The ex-dividend date is 11 February and the dividend will be paid on 27 February.

• Northwest Bancshares Inc (NASDAQ:NWBI)
Founded in 1896 and headquartered in Warren, Pennsylvania, NWBI is a savings and loan holding company. Through its subsidiary, Northwest Saving Bank, the company offers personal and business banking solutions, investment management and trust services, and insurance products. NWBI will pay a quarterly dividend of 14¢ per share on 13 February to shareholders of record on 5 February. The ex-dividend date is 3 February.

• Simon Property Group Inc (NYSE:SPG)
SPG is a self-administered and self-managed equity real estate investment trust. The company owns, develops and manages retail real estate properties, such as regional malls, Premium Outlets, The Mills, and community and lifestyle centers. SPG was founded in 1960 and is based in Indianapolis, Indiana, with additional offices in Delaware and New York. SPG's board of directors declared an increase in its quarterly dividend to $1.40 per share, an increase of 7.69%. The ex-dividend date is 11 February and the dividend will be paid on 27 February.

• CMS Energy Corp (NYSE:CMS)
CMS is an energy company operating primarily in Michigan in the U.S.A. It is the parent holding company of several subsidiaries, including Consumers, an electric and gas utility, and CMS Enterprises, primarily a domestic independent power producer. CMS was founded in 1987 and is headquartered in Jackson, Michigan. The company announced an increase in its quarterly dividend of 7.41% to 29¢ per share. The dividend is payable 27 February to shareholders of record on 6 February.

• New Jersey Resources (NYSE:NJR)
NJR is an energy services holding company providing regulated gas distribution services as well as retail and wholesale energy services to customers from the Gulf Coast to New England and into Canada. Annual revenues exceed $2.5 billion. NJR was formed in 1981 and is based in Wall, New Jersey. The company declared a quarterly dividend of 45¢ per share, an increase of 7.14% over the prior quarterly dividend. The dividend is payable 1 April to shareholders of record on 13 March.

• Provident Financial Services Inc (NYSE:PFS)
Founded in 1839 and headquartered in Jersey City, New Jersey, PFS operates as the holding company for The Provident Bank, a community- and customer-oriented banking company. The bank provides banking services to individuals, families, and businesses in northern and central New Jersey. The bank offers a broad array of deposit, loan, trust and investment products. Recently, PFS increased its quarterly dividend by 6.67% to 16¢ per share. The dividend is payable on 27 February, to shareholders of record on 13 February.

• Principal Financial Group Inc (NYSE:PFG)
PFG is a leading provider of retirement services, insurance solutions and asset management services to businesses, individuals and institutional clients. In addition, the company offer a broad range of individual life and disability insurance, group life and health insurance, and residential mortgage loan origination and servicing in the United States. PFG's board of directors declared an increase in its quarterly dividend to 36¢ per share, an increase of 5.88%. The ex-dividend date is 5 March and the dividend will be paid on 27 March.

• CenterPoint Energy (NYSE:CNP)
CNP is a domestic energy delivery company that includes electric transmission and distribution, natural gas distribution and sales, and interstate pipeline and gathering operations. The company serves more than five million customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company was founded in 1882 and is headquartered in Houston, Texas. CNP will pay a quarterly dividend of 24.75¢ per share on 10 March to shareholders of record on 13 February.

• First American Financial Corp (NYSE:FAF)
Based in Santa Ana, California, and incorporated in 2008, FAF provides financial services through its subsidiaries. The company issues title insurance policies and provides escrow and real estate closing services on residential and commercial property. It also provides property and casualty insurance and loan quality analytics, decision support tools, and loan review services for the mortgage industry. Recently, FAF increased its quarterly dividend by 4.17% to 25¢ per share. The dividend is payable on 16 March, to shareholders of record on 9 March.

• Targa Resources Partners LP (NYSE:NGLS)
NGLS is engaged in the ownership, operation, acquisition, and development of midstream energy assets in the United States. The company's extensive portfolio of integrated midstream assets is strategically positioned across multiple geographic regions, producing basins, and consumption and market hubs. The company was founded in 2006 and is headquartered in Houston, Texas. It is a subsidiary of Targa Resources Corp (NYSE:TRGP). The company's board of directors approved an increase in the quarterly dividend of 3.85% to 81¢ a share. The dividend is payable on 13 February to shareholders of record at the close of business on 2 February.

• Black Hills Corp (NYSE:BKH)
Founded in 1941 and headquartered in Rapid City, South Dakota, BKH is a diversified energy company with operations in the United States. The company’s regulated utilities segments provide electricity to customers in South Dakota, Wyoming, Colorado, and Montana; and natural gas to customers in Colorado, Nebraska, Iowa, and Kansas. BKH's non-regulated energy group is involved in power generation, coal mining, and oil and gas production. Recently, BKH increased its quarterly dividend by 3.85% to 40.5¢ per share. The dividend is payable on 1 March, to shareholders of record on 13 February.

• HCP Inc (NYSE:HCP)
Formed in 1985 and based in Irvine, California, HCP is an independent hybrid real estate investment trust (REIT). The company invests primarily in properties serving the healthcare industry in the United States, including sectors such as senior housing, life science, medical office, hospital and skilled nursing. HCP acquires, develops, leases, manages and disposes of healthcare real estate and provides financing to healthcare providers. Recently, HCP increased its quarterly dividend to 56.5¢ per share, to be paid on 24 February, to shareholders of record on 9 February. The dividend increase is 3.67%.

• Norfolk Southern (NYSE:NSC)
Founded in 1883 and is based Norfolk, Virginia, NSC is a holding company engaged in the rail transportation of raw materials, intermediate products, and finished goods. NSC owns two major freight railroads, Norfolk Southern Railway Company and Norfolk Western Railway Company, which operates in numerous states, the District of Columbia and in the province of Ontario. The company's board of directors approved an increase in the quarterly dividend of 3.51% to 59¢ a share. The dividend is payable on 10 March to shareholders of record at the close of business on 6 February.

• Targa Resources Corp (NYSE:TRGP)
TRGP is a publicly traded Delaware corporation that provides midstream natural gas and natural gas liquid (NGL) services in the United States. It does so through its general and limited partner interest in Targa Resources Partners LP (NYSE:NGLS). TRGP was founded in 2005 and is headquartered in Houston, Texas. The company increased its quarterly dividend by 3.07%, from 73.25¢ per share to 75.5¢ per share. The dividend is payable on 17 February, to shareholders of record on 2 February.

• Allete Inc (NYSE:ALE)
ALE is an energy company, which, together with its subsidiaries, generates, transmits, and distributes electricity in the United States. The company generates electricity from coal, hydro, wind, and biomass. It is involved in the retail and wholesale of regulated electric, natural gas, and water services in Minnesota and northern Wisconsin. The company was founded in 1906 and is headquartered in Duluth, Minnesota. The company announced a quarterly dividend increase of 3.06% to 50.5¢ per share, payable on 1 March to shareholders of record on 16 February.

• Alliance Holdings GP LP (NASDAQ:AHGP)
Based in Tulsa Oklahoma, AHGP, through its subsidiaries, produces and markets coal primarily to utilities and industrial customers in the United States. The company was formed to own and control Alliance Resource Management GP, LLC, the managing general partner of Alliance Resource Partners, L.P. (NASDAQ:ARLP). ARLP operates ten underground mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia and is constructing a new mine in southern Indiana. AHGP will pay a quarterly dividend of 91.5¢ per share on 19 February to shareholders of record on 12 February.

• Kinder Morgan Inc (NYSE:KMI)
KMI is the largest energy infrastructure company in North America. The company owns an interest in or operates approximately 80,000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, carbon dioxide, and other products, and its terminals store petroleum products and chemicals, and handle bulk materials like coal and petroleum coke. KMI is headquartered in Houston, Texas. Recently, KMI increased its quarterly dividend to 45¢ per share, to be paid on 17 February, to shareholders of record on 2 February. The dividend increase is 2.27%.

• Global Partners LP (NYSE:GLP)
Founded in 2005 and based in Waltham, Massachusetts, GLP distributes gasoline, distillates, residual oil, renewable fuels, crude oil, natural gas, and propane to wholesalers, retailers, and commercial customers in the New England states and New York. Global GP LLC serves as the general partner of the company. The company's board of directors approved an increase in the quarterly dividend of 1.92% to 66.5¢ a share. The dividend is payable on 13 February to shareholders of record at the close of business on 4 February.

• Holly Energy Partners LP (NYSE:HEP)
Founded in 2004, HEP operates petroleum product and crude pipelines, storage tanks, distribution terminals, and loading rack facilities located in Texas, New Mexico, Oklahoma, Arizona, Washington, Kansas, Wyoming, Idaho and Utah. The company is based in Dallas, Texas. On 22 January, the board of directors approved an increase to its regular quarterly dividend from 52.25¢ per share to 53¢ per share, an increase of 1.44%. The first payment will be on 13 February to stockholders of record on 2 February.

• EnLink Midstream LLC (NYSE:ENLC)
ENLC is a limited liability company. Through its subsidiaries, ENLC is engaged in the gathering, transmission, treating, processing and marketing of natural gas and natural gas liquids, condensate and crude oil. ENLC is a general partner of Enlink Midstream Partners, LP (NYSE:ENLK) and owns 8% of the limited partner interest as well as all of ENLK’s incentive distribution rights. On 21 January, the board of directors declared a quarterly dividend of 37.5¢ per share, payable on 12 February to shareholders of record on 2 February. The new dividend represents an increase of 1.35%.

• DCP Midstream Partners LP (NYSE:DPM)
DPM is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; transporting, storing and selling propane in wholesale markets, and producing, fractionating, transporting, storing and selling natural gas liquids and condensate. DPM was founded in 2005 and is based in Denver, Colorado. DPM's board of directors approved an increase in its quarterly dividend to 78¢ per share, an increase of nearly 1.30%. The dividend is payable on 13 February, to shareholders of record on 9 February.

• Exterran Partners LP (NASDAQ:EXLP)
Founded in 2006 and headquartered in Houston, Texas, EXLP, together with its subsidiaries, provides natural gas contract operations services to customers in the United States. Its contract operations services comprise designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining equipment for its customers. Exterran General Partner, L.P., its general partner, is an indirect, wholly owned subsidiary of Exterran Holdings, Inc (NASDAQ:EXLP). The company's board of directors approved an increase in the quarterly dividend of 0.90% to 55.75¢ a share. The dividend is payable on 13 February to shareholders of record at the close of business on 9 February.

• Healthcare Services Group Inc (NASDAQ:HCSG)
Incorporated in 1976 and based in Bensalem, Pennsylvania, HCSG provides housekeeping, laundry, linen, facility maintenance, and food services to nursing homes, retirement complexes, rehabilitation centers, and hospitals throughout the United States and Canada. On Tuesday, 27 January, the company increased its quarterly dividend to 17.63¢ per share. The dividend is payable on 27 February to shareholders of record on 20 February.

Please note that I'm not recommending these stocks. Readers should do their own research on these companies before buying shares.

4 comments :

  1. At least I've got 2 of the companies! KMI and GLP.. both have been increasing dividends every quarter for a while now! Gotta love the raises. Its crazy to think that both of these companies raised their dividends more than what my raise will be at work this year and I do not have to do any extra work to get it! Awesome, thanks for the list

    ReplyDelete
    Replies
    1. You're right, American Dividend Dream! Its wonderful to get raises from your dividend holdings that exceed what you would get from employment... I love that about dividend growth investing. The other thing, not to forget, is that if you plow the dividends back into your portfolio, you're compounding those raises over time!

      Cheers
      FerdiS

      Delete
  2. Thanks for sharing these; I know I'm always happy with the KMI increases, and there are a couple on that list that are also part of my watchlist.

    ReplyDelete
    Replies
    1. You're welcome, w2r -- KMI is a solid and popular dividend payer that I don't own currently. Worth looking into, I think...

      Cheers
      FerdiS

      Delete

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