If you closely follow the daily financial news as presented by the mainstream media, it is easy become jaded and start believing that there isn’t any good news out there. Don’t be confused by the noise. There are still many great companies committed to generating superior returns and rewarding their shareholder by increasing cash dividends.Below are several companies that have recently raised their cash dividends:
Cincinnati Financial (CINF) markets primarily property and casualty coverage. It also conducts life insurance and asset management operations. August 16, 2010 the company increased its quarterly dividend to $0.40/share. The dividend is payable October 15, 2010, to shareholders of record as of September 22, 2010. CINF is a Dividend Aristocrat and has raised its dividend for 50 consecutive years. The yield based on the new payout is 5.85%.
Autoliv (ALV) develops, manufactures and supplies automotive safety systems to the automotive industry; and designs, develops and manufactures airbag modules. August 17th the company raised its quarterly dividend 16.7% to $0.35/share. The dividend is payable on Thursday, December 9, 2010 to shareholders of record on the close of business on Thursday, November 4, 2010. The ex-dividend will be Tuesday November 2, 2010. The yield based on the new payout is 2.48%.
Nordson (NDSN) manufactures equipment used for precision dispensing, testing and inspection, and surface preparation and curing. August 17th the company increased its quarterly dividend to $0.21/share. The dividend is payable on Sept. 14 to shareholders of record on Aug. 31. The ex-dividend date is Aug. 27. NDSN is a Dividend Achiever and has raised its dividend for 47 consecutive years. The yield based on the new payout is 1.27%.
TrustCo Bank (TRST) operates 132 community banking offices and 134 ATMs throughout its market area. August 17th the company raised its quarterly dividend 5% to $0.066/share. The dividend is payable on Oct. 1 to shareholders of record on Sept. 3. The ex-dividend date is Sept. 1. The yield based on the new payout is 4.74%.
Lawson Products (LAWS) is a marketer of systems, services and products to the industrial, commercial, institutional, and governmental maintenance repair and operations (MRO) marketplace. August 17th the company increased its quarterly dividend 33% to $0.08/share. The dividend is payable October 12, 2010 to stockholders of record on September 28, 2010. The ex-dividend date is September 26, 2010. The yield based on the new payout is 2.10%.
First Capital (FCAP) owns and operates First Harrison Bank, which provides banking services through 13 offices in Indiana. August 19th the company raised its quarterly dividend 5.6% to $0.19/share. The dividend is payable on September 30, 2010 to shareholders of record as of September 16, 2010. The ex-dividend date is September 14, 2010. The yield based on the new payout is 5.03%.
American Financial Group (AFG) provides specialty and multi-line property and casualty insurance, and sells tax-deferred annuities. August 19th the company increased its quarterly dividend 18% to $0.1625/share. The yield based on the new payout is 2.24%.
Getty Realty Corp. (GTY) specializes in the ownership and leasing of retail motor fuel and convenience store properties and petroleum distribution terminals in the U.S. August 19th the company raised its quarterly dividend 1.1% to $0.48/share. The dividend is payable on October 14, 2010 to holders of record on September 30, 2010. The ex-dividend date is September 28, 2010. GTY is a Dividend Achiever and has raised its dividend for 14 consecutive years. The yield based on the new payout is 7.95%.
Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised 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 CINF. See a list of all my income holdings here.
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