I have stated many times that my goal is to create an ever growing income stream from dividend growth stocks. Secondarily, it is my desire to beat the S&P 500 over time. With that said, I rarely look at the capital performance of individual stocks. What I do watch is the ability of the stocks I own to sustain their dividend growth.This week several companies met their shareholders' goal of higher cash dividends:
Knoll, Inc. (KNL) engages in the design, manufacture, and sale of workplace furnishings, textiles, and fine leathers for the workplace and home. May 5th the company increased its quarterly dividend 67% to $0.10 per share. The dividend is payable June 30, 2011 to all shareholders of record on June 15, 2011. The yield based on the new payout is 2.1%.
DTE Energy (DTE) operates as an electric and natural gas utility company in Michigan. May 5th the company increased its quarterly dividend 5% to $0.5875 per share. The dividend is payable July 15, 2011, to shareholders of record at the close of business June 20, 2011. The yield based on the new payout is 4.6%.
Union Pacific Corporation (UNP) provides rail transportation services in North America. May 5th the company increased its quarterly dividend 25% to $0.475 per share. The dividend is payable July 1, 2011, to stockholders of record on May 31, 2011. The yield based on the new payout is 1.9%.
Reliv International, Inc. (RELV) engages in the development, manufacture, and marketing of nutritional supplements. May 5th the company increased its semi-annual dividend 50% to 0.03 per share. The dividend is payable to all holders of record as of May 16, 2011, to be paid on or about May 26, 2011. The yield based on the new payout is 3.1%.
Houston Wire & Cable Company (HWCC) is one of the largest providers of wire and cable in the U.S. market. May 5th the company increased its quarterly dividend 5.9% to $0.09 per share. The dividend is payable on May 27, 2011 to shareholders of record of Common Stock at the close of business on May 13, 2011. The yield based on the new payout is 2.1%.
Chesapeake Utilities Corporation (CPK) operates as a diversified utility company that primarily engages in regulated energy and unregulated energy businesses. May 4th the company increased its quarterly dividend 4.6% to $0.345 per share. The dividend is payable July 5, 2011 to all shareholders of record at the close of business on June 15, 2011. The yield based on the new payout is 3.4%.
Cardinal Health, Inc. (CAH) is a $99 billion health care services company that improves the cost-effectiveness of health care. May 4th the company increased its quarterly dividend 10% to $0.215 per share. The dividend is payable on July 15 to shareholders of record on July 1. This marks the 107th consecutive regular quarterly dividend for Cardinal Health. The yield based on the new payout is 1.9%.
CSX Corporation (CSX) provides rail-based transportation services in North America. May 4th the company announced a 3-for-1 stock split and increased its quarterly dividend 38% to $0.36, or $0.12 on a post-split basis.The dividend is payable on June 15, 2011 to shareholders of record at the close of business on May 31, 2011. The yield based on the new payout is 1.9%.
PepsiCo, Inc. (PEP) manufactures, markets, and sells various foods, snacks, and carbonated and non-carbonated beverages worldwide. May 4th the company increased its quarterly dividend to $0.515 per share. The dividend is payable June 30, 2011, to shareholders of record on June 3, 2011. The yield based on the new payout is 3.0%.
Domtar Corporation (UFS) is the largest integrated manufacturer and marketer of uncoated freesheet paper in North America and the second largest in the world based on production capacity. May 4th the company increased its quarterly dividend 40% to $0.35 per share. The yield based on the new payout is 1.5%.
ManpowerGroup (MAN) provides employment services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. May 3rd the company increased its simi-annual dividend to $0.40 per share. The dividend is payable on June 15, 2011 to shareholders of record on June 1, 2011. The yield based on the new payout is 1.2%.
Molex Incorporated (MOLX)manufactures and sells electronic components worldwide. May 3rd the company increased its quarterly dividend 14.3% to $0.20 per share. The dividend is payable on July 25, 2011 to shareholders of record on June 30, 2011. The yield based on the new payout is 3.0%.
CBS Corporation (CBS) operates as a mass media company in the United States and internationally. May 3rd the company increased its quarterly dividend 100% to $.10 per share. The dividend is payable on July 1, 2011 to shareholders of record as of June 10, 2011. The yield based on the new payout is 1.6%.
Cognex Corporation (CGNX) provides machine vision products that capture and analyze visual information to automate tasks, primarily in manufacturing processes. May 2nd the company increased its quarterly dividend to $0.09 per share. The dividend announced today is payable on June 17, 2011, to all shareholders of record at the close of business on June 3, 2011. The yield based on the new payout is 1.2%.
Trinity Industries, Inc. (TRN) provides various products and services for the industrial, energy, transportation, and construction sectors. May 2nd the company increased its quarterly dividend 12.5% to $0.09 per share. The quarterly cash dividend, representing Trinity’s 189th consecutively paid dividend, is payable July 29, 2011 to stockholders of record on July 15, 2011. The yield based on the new payout is 1.0%.
Harley-Davidson, Inc. (HOG) produces and sells heavyweight motorcycles, as well as offers motorcycle parts, accessories, and related services. April 30th the company increased its quarterly dividend 25% to $0.125 per share. The dividend is payable June 17, 2011 to the holders of record of the Company's common stock on June 2, 2011. The yield based on the new payout is 1.3%.
Newell Rubbermaid (NWL) is a global marketer of consumer and commercial products with 2010 sales of approximately $5.8 billion and a strong portfolio of brands. April 29th the company increased its quarterly dividend 60% to $0.08 per share. The yield based on the new payout is 1.7%.
Span-America Medical Systems, Inc. (SPAN) manufactures and markets a comprehensive selection of pressure management products for the medical market. April 29th the company increased its quarterly dividend 10% to $0.11 per share. The dividend is payable June 3, 2011, to shareholders of record on May 18, 2011. The yield based on the new payout is 2.9%.
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 PEP. See a list of all my income holdings here.
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Tags: [KNL] [DTE] [UNP] [RELV] [HWCC] [CPK] [CAH] [CSX] [PEP] [UFS] [MAN] [MOLX] [CBS] [CGNX] [TRN] [HOG] [NWL] [SPAN]