Have you ever wondered just where are all the get-rich-now infomercial millionaires? I know several people who have purchased one or more of these get-rich-now kits, but I don't know of anyone who actually got rich from purchasing the kit. Warren Buffett and Bill Gates didn't build their fortunes with a get-rich-now kit. They worked hard built it steadily over time. In much the same way, a disciplined approach to investing, such as dividend growth stocks, can be highly effective. Though it may seem boring to many, I find it exciting to see my income growing as the finish line approaches.
Below are several companies building their shareholders' wealth with increased cash dividends:
The H.J. Heinz Company (HNZ) manufactures and markets food products for consumers, food-service, and institutional customers. May 26th the company increased its quarterly dividend 6.7% to $0.48 per share. The dividend is payable to shareholders of record as of June 24, 2011 on July 10, 2011. Including today’s announcement, Heinz has increased the dividend almost 80% since Fiscal 2004, a compound annual growth rate of 7.5%. The yield based on the new payout is 3.6%.
Molson Coors Brewing Company (TAP) brews, markets, sells, and distributes beer brands. May 26th the company increased its quarterly dividend 14 % to $0.32 per share. The dividend is payable June 15, 2011, to shareholders of record on June 6, 2011. The yield based on the new payout is 2.8%.
Bunge Limited (BG) engages in the agriculture and food businesses in approximately 30 countries. May 26th the company increased its quarterly dividend 8.7% to $0.25 per share. The new dividend is payable on September 2, 2011, to shareholders of record on August 16, 2011. The yield based on the new payout is 1.4%.
The Cato Corporation (CATO) operates as a fashion specialty retailer for fashion and value conscious females principally in the southeastern United States. May 26th the company increased its quarterly dividend 24% to $0.23 per share. The dividend is payable on June 27, 2011 to shareholders of record on June 13, 2011. The yield based on the new payout is 3.5%.
Teche Holding Company (TSH) offers various financial services in Louisiana. May 26th the company increased its quarterly dividend 1.4% to $0.36 per share. The dividend is is payable on June 30, 2011 to shareholders of record as of the close of business on June 16, 2011. The company has paid a cash dividend for 64 consecutive quarters. The yield based on the new payout is 4.0%.
First PacTrust Bancorp, Inc. (FPTB) provides various financial services primarily in San Diego and Riverside Counties, California. May 26th the company increased its quarterly dividend 4.8% to $0.11 per share. The dividend will be payable on July 1, 2011 to shareholders of record as of June 10, 2011. The yield based on the new payout is 2.9%.
Financial Institutions, Inc. (FISI) provides consumer and commercial banking, and financial services to individuals, municipalities, and businesses in central and western New York. May 25th the company increased its quarterly dividend 20% to $0.12 per share. The dividends are payable on July 5, 2011 to shareholders of record on June 17, 2011. The yield based on the new payout is 3.6%.
SEI Investments Company (SEIC) provides investment processing, fund processing, and investment management business outsourcing solutions. May 25th the company increased its semi-annual dividend 20% to $0.12 per share. The dividend is payable to shareholders of record on June 20, 2011, with a payment date of June 28, 2011. The yield based on the new payout is 1.7%.
Viacom Inc. (VIA) operates as an entertainment content company. May 25th the company increased its quarterly dividend 67% increase to $0.25 per share. The dividend is payable on July 1, 2011 to stockholders of record at the close of business on June 15, 2011. The yield based on the new payout is 1.7%.
Unum Group (UNM) is one of the leading providers of employee benefits products and services and the largest provider of group and individual disability income protection insurance in the United States and the United Kingdom. May 25th the company increased its quarterly dividend 13.5% to $0.105 per share. The yield based on the new payout is 1.6%.
Flowers Foods (FLO) is one of the nation's leading producers and marketers of packaged bakery foods for retail and foodservice customers. May 25th the company increased its quarterly dividend 12.5% to $0.225 per share and announced a 3 for 2 stock split. Both the stock split and the dividend are payable on June 24, 2011, to shareholders of record on June 10, 2011. The yield based on the new payout is 2.8%.
UnitedHealth Group (UNH) provides healthcare services in the United States. May 25th the company increased its quarterly dividend 30% to $0.1625 per share. The dividend is payable on June 21, 2011, to all shareholders of record of UnitedHealth Group common stock as of the close of business on June 7, 2011. The yield based on the new payout is 1.4%.
Donaldson Company, Inc. (DCI) engages in the manufacture and sale of filtration systems and replacement parts worldwide. May 24th the company increased its quarterly dividend 15% to $0.15 per share. Donaldson had previously increased its dividend in November, bringing the total increase so far in fiscal 2011 to 20%. The dividend is payable June 24th to shareholders of record as of June 10th. The current declaration is the 223rd consecutive quarterly cash dividend paid by Donaldson over a time span of 55 years. The yield based on the new payout is 1.0%.
Deere & Company (DE) provides products and services primarily for agriculture and forestry worldwide. May 24th the company increased its quarterly dividend 17% to $0.41 a share. The dividend is payable August 1, 2011 to stockholders of record on June 30, 2011. This is the ninth increase to the Deere & Company quarterly dividend since early 2004. The yield based on the new payout is 1.9%.
Ship Finance International Limited (SFL) engages in the ownership and operation of vessels and offshore related assets. May 23rd the company increased its quarterly dividend 2.6% to $0.39 per share. SFL has now paid a quarterly dividend for 29 quarters, and this is the fifth consecutive dividend increase. The dividend will be paid on or about June 29, 2011 to shareholders of record as of June 9, 2011. The ex-dividend date will be June 7, 2011. The yield based on the new payout is 7.6%.
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: No position in the aforementioned securities. See a list of all my income holdings here.
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