An increasing cash dividend keeps pressure on management to ensure the company is well run. If there are too many missteps, eventually the dividend will slip. Here are several stocks where management recently met the challenge by raising their cash dividends:
Franchise Group (FRG) recently increased its quarterly dividend 50% to $0.375 per share. The dividend is payable Jan. 8 to shareholders of record Dec. 24, with an ex-div date of Dec. 23. The yield based on the new payout is 5.8%.
Graco (GGG) recently increased its quarterly dividend 7.1% to $0.1875 per share. The dividend is payable Feb. 3 to shareholders of record Jan. 19, with an ex-div date of Jan. 15. The yield based on the new payout is 1.1%.
AES (AES) recently increased its quarterly dividend 5% to $0.1505 per share. The dividend is payable Feb. 12; for shareholders of record Jan. 29; ex-div Jan. 28. The yield based on the new payout is 2.9%.
Alexandria Real Estate Equities (ARE) recently increased its quarterly dividend 2.8% to $1.09 per share. The dividend is payable Jan. 15; for shareholders of record Dec. 31; ex-div Dec. 30. The yield based on the new payout is 2.6%.
Mastercard (MA) recently increased its quarterly dividend 10% to $0.44 per share. The dividend is payable Feb. 9 to shareholders of record Jan. 8, with an ex-div date of Jan. 7. The yield based on the new payout is 0.5%.
Erie Indemnity (ERIE) recently increased its quarterly dividend 7.3% to $1.035 per share. The dividend is payable Jan. 20 to shareholders of record Jan. 5, with an ex-div date of Jan. 4. The yield based on the new payout is 1.9%. In addition, the board declared a special one-time cash dividend of $2 on each Class A share and $300 on each Class B share. Payable Dec. 29, 2020, to shareholders of record as of Dec. 21, 2020, with a dividend ex-date of Dec. 18, 2020.
Pentair (PNR) recently increased its quarterly dividend 5.3% to $0.20 per share. The dividend is payable Feb. 5 to shareholders of record Jan. 22, with an ex-div date of Jan. 21. The yield based on the new payout is 1.6%.
TJX (TJX) recently increased its quarterly dividend 13% to $0.26 per share. The dividend is payable March 4 to shareholders of record Feb. 11 with an ex-div date of Feb. 10. The yield based on the new payout is 1.6%.
Campbell Soup (CPB) recently increased its quarterly dividend 5.7% to $0.37 per share. The dividend is payable Feb. 1 to shareholders of record Jan. 9 with an ex-div date of Jan. 7. The yield based on the new payout is 3.1%.
W. P. Carey (WPC) recently increased its quarterly dividend 0.2% to $1.046 per share. The dividend is payable Jan. 15 to shareholders of record Dec. 31, with an ex-div date of Dec. 30. The yield based on the new payout is 6.0%.
Broadcom (AVGO) recently increased its quarterly dividend 11% to $3.60 per share. The dividend is payable Dec. 31 to shareholders of record Dec. 21, with an ex-div date of Dec. 18. The yield based on the new payout is 3.5%.
Bristol Myers Squibb (BMY) recently increased its quarterly dividend 8.9% to $0.45 per share. The dividend is payable Feb. 1 to shareholders of record Jan. 4 with an ex-div date of Dec. 31. The yield based on the new payout is 3.3%.
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 ERIE,
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