Several companies this week provided their shareholders an early Thanksgiving bonus in the form of higher cash dividends:
Valvoline (VVV) recently increased its quarterly dividend 11% to $0.125 per share. The dividend is payable Dec. 15 to shareholders of record Nov. 30, with an ex-div date of Nov. 27. The yield based on the new payout is 2.3%
Ethan Allen Interiors (ETH) recently increased its quarterly dividend 19% to $0.25 per share. The dividend is payable Jan. 21 to shareholders of record Jan. 7, with an ex-div date of Jan. 6. The yield based on the new payout is 6.0%.
American Equity Investment Life (AEL) recently increased its quarterly dividend 6.7% to $0.32 per share. The dividend is payable Dec. 10 to shareholders of record Nov. 25 with an ex-div date of Nov. 24. The yield based on the new payout is 1.2%.
Timken (TKR) recently increased its quarterly dividend 3.6% to $0.29 per share. The dividend is payable Dec. 3 to shareholders of record Nov. 24 with an ex-div date of Nov. 23. The yield based on the new payout is 1.7%.
Merck (MRK) recently increased its quarterly dividend 6.6% to $0.65 per share. The dividend is payable Jan. 8 to shareholders of record Dec. 15, with an ex-div date of Dec. 14. The yield based on the new payout is 3.2%.
AFLAC (AFL) recently increased its quarterly dividend 18% to $0.33 per share. The dividend is payable March 1 to shareholders of record Feb. 17, with an ex-div date of Feb. 16. The yield based on the new payout is 3.1%.
Spire (SR) recently increased its quarterly dividend 4.4% to $0.65 per share. The dividend is payable Jan. 5 to shareholders of record Dec. 11, with an ex-div date of Dec. 10. The yield based on the new payout is 4.0%.
Nike (NKE) recently increased its quarterly dividend 12% to $0.275 per share. The dividend is payable Dec. 29 to shareholders of record Dec. 7, with an ex-div date of Dec. 4. The yield based on the new payout is 0.8%.
McCormick (MKC) recently increased its quarterly dividend 9.7% to $0.68 per share. The dividend is payable Jan. 11 to shareholders of record Dec. 31, with an ex-div date of Dec. 30. The dividend will be paid on a split-adjusted basis of $0.34/share reflecting the 2-for-1 stock split effective December 1, 2020. The yield based on the new payout is 1.48%.
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: Long AFL,
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