4 Stocks With A Vision Of Higher Dividends

To succeed as a dividend growth investor you must identify and purchase stocks with sustainable dividend growth. Inertia is powerful force. Once a company has established a track record of growing its dividend over the decades and developed a shareholder base that expects higher dividends each year, it becomes increasing difficult for management to cut or fail to raise their dividend. No Board member or CEO of this type of company wants a dividend cut to occur on their watch.

Here are a few select companies that have recently followed through on their vision of providing increased cash dividends to their shareholders:

Steelcase (SCS) recently increased its quarterly dividend 43% to $0.10 per share. The dividend is payable Jul. 15, 2020 to stockholders of record on Jul. 8, 2020, with an ex-dividend date of Jul. 7, 2020. The yield based on the new payout is 3.3%.

Caledonia Mining (CMCL) recently increased its quarterly dividend 13% to $0.085 per share. The dividend is payable Jul. 31, 2020 to stockholders of record on Jul. 17, 2020, with an ex-dividend date of Jul. 16, 2020. The yield based on the new payout is 2.3%.

Matson (MATX) recently increased its quarterly dividend 4.5% to $0.23 per share. The dividend is payable Sep. 3, 2020 to stockholders of record on Aug. 6, 2020, with an ex-dividend date of Aug. 5, 2020. The yield based on the new payout is 3.3%.

First Bancorp (FNLC) recently increased its quarterly dividend 3.3% to $0.30 per share. The dividend is payable Jul. 20, 2020 to stockholders of record on Jul. 7, 2020, with an ex-dividend date of Jul. 6, 2020. The yield based on the new payout is 6.2%.

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.

Full Disclosure: No position in the aforementioned securities.

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Tags: SCS, CMCL, MATX, FNLC,
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