Consider the following companies that recently announced double-digit dividend increases:
- Chesapeake Energy (CHK) raised its dividend 11% to $0.075/share
- VSE Corporation (VSEC) raised its dividend 12.5% to $0.045/share
- Capstead Mortgage (CMO) raised its dividend 13% to $0.59/share
- Target (TGT) raised its dividend 14% to to $0.16/share
- Caterpillar (CAT) raised its dividend 17% to to $0.42/share
- Kaiser Aluminum (KALU) raised its dividend 33% to $0.24/share
- Monsanto (MON) raised its dividend 37% to $0.24/share
On June 19, 2008, BB&T Corporation (BBT) stated that the company's capital levels remain strong and management anticipates "some increase in the cash dividend during 2008."
And finally, sometimes good news is found in maintaining the status quo. According to Bloomberg, Bank of America's (BAC) CEO told Oppenheimer analyst Meredith Whitney the company's dividend was safe. With an effective yield between 8% and 9%, and trading less than book value, BAC could end up as one of the great steals of 2008. Time will tell.
At the time of this writing, I owned BAC and BBT.