The goals of an income portfolio are much different than those of a capital appreciation portfolio. The good news is an income portfolio consisting of quality dividend growth stocks can not only succeed, but excel during a market downturn. Dividend investors are focused on building a stream of steadily rising income from solid companies. While many panic when their portfolios decline, income investors see a downturn as an incredible buying opportunity as they are look for sustainable growing dividends.This week only one stock rewarded their shareholders with higher cash dividends:
Computer Services (CSVI) provides service and software solutions for financial institutions. July 6th the company increased its quarterly dividend 15.8% to $0.1/share. The dividend is payable on September 24, 2010, to shareholders of record as of the close of business on September 1, 2010. The ex-dividend date is August 30, 2010. The yield based on the new payout is 2.2%.
Members of the Dividend Achievers Index are comprised of companies incorporated in the United States or its territories, trade on the NYSE, NASDAQ or AMEX, and have increased their annual regular dividend payments for the last ten or more consecutive years. Several of these companies declared cash dividends this past week including:
Bank of the Ozarks (OZRK) provides retail & commercial banking products and services via 70 banking and two loan production offices in AR, TX, NC. July 2nd the company declares a $0.15/share quarterly dividend. The dividend is payable July 23, 2010 to shareholders of record as of July 16, 2010. The ex-dividend date is July 14, 2010. Yield on the dividend is 1.7%. OZRK has paid a higher dividend for the last 12 consecutive years.
RPM Int'l (RPM) makes specialty coatings and products for the structural waterproofing and corrosion control markets, as well as products for the consumer, do-it-yourself, and hobby markets. July 6th the company declared a $0.205/share quarterly dividend. The dividend is payable on July 30, 2010, to stockholders of record as of July 16, 2010. The ex-dividend date is July 13, 2010. Yield on the dividend is 4.6%. RPM has paid a higher dividend for the last 37 consecutive years.
Northwest Natural Gas (NWN) is a U.S. gas distribution utility serving Oregon and southwest Washington. July 6th the company declared a $0.415/share quarterly dividend. The dividend will be paid August 13, 2010, to shareholders of record on July 30, 2010. The ex-dividend date is July 28, 2010. Yield on the dividend is 3.7%. NWN has paid a higher dividend for the last 38 consecutive years.
H.B. Fuller (FUL) is an international manufacturer of adhesives, sealants, paints and specialty construction products. July 7th the company declared a $0.07/share quarterly dividend. The dividend is payable on August 5, 2010 to shareholders of record at the close of business on July 22, 2010. The ex-dividend date is July 20, 2010. Yield on the dividend is 1.4%. FUL has paid a higher dividend for the last 41 consecutive years.
Eaton Vance Corp. (EV) is a Boston-based holding company is primarily engaged in investment management. July 7th the company declares a $0.16/share quarterly dividend. The dividend is payable August 13, 2010 to shareholders of record on July 30, 2010. The ex-dividend date is July 28, 2010. Yield on the dividend is 2.2%. EV has paid a higher dividend for the last 30 consecutive years.
Colgate-Palmolive (CL) is a major consumer products company markets oral, personal and household care, and pet nutrition products in more than 200 countries and territories. July 8th the company declared a $0.53/share quarterly dividend. The dividend is payable on August 13, 2010, to shareholders of record on July 26, 2010. The ex-dividend date is July 22, 2010. Yield on the dividend is 2.6%. CL has paid a higher dividend for the last 47 consecutive years.
Tanger Factory Outlet (SKT) develops, acquires, owns, operates and manages factory outlet shopping centers in the United States. July 8th the company declared a $0.3875/share quarterly dividend. The dividend is payable to holders of record on July 30, 2010. The ex-dividend date is July 28, 2010. Yield on the dividend is 3.6%. SKY has paid a higher dividend for the last 17 consecutive years.
Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised or maintained their dividends, it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.
Full Disclosure: Long CL. See a list of all my income holdings here.
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