Even when the sky appears to be at its darkest, there are those still stand tall! Albeit, their numbers are not what we have seen in past weeks, but here are a few select companies that recently raised their cash dividends:
- Teekay (TK) Boosts Qtr. Dividend 15% to $0.316/Share (5.60%)
- Acme United (ACU) Increases Qtr. Dividend 25% to $0.05/Share (5.60%)
- First Financial Northwest (FFNW) Raises Qtr. Dividend to $0.085/Share (3.51%)
- United Technologies (UTX) Boosts Dividend 20.3% to $0.385/Share (2.85%)
- Apogee Enterprises (APOG) Ups Qtr. Dividend 10% to $0.0815/Share (2.86%)
Yesterday, I reviewed United Technologies Corp (UTX) and it earned a 4 Star-Buy rating. This review was performed prior to the dividend increase. The increase will only strengthen the rating. As part of the announcement, CEO Louis Chenevert said:
"In today's tough economic environment, UTX's balanced portfolio, global footprint, and seasoned executive team continue to deliver solid results. This dividend increase, consistent with our pattern over many years, reflects our confidence in sustained earnings growth. UTC's liquidity and free cash flow remain strong."None of the others achieved the necessary NPV of MMA Differential to justify a full evaluation.
Disclosure: Long GE.