Friday, August 7, 2009

* Five Stocks Raising Their Dividends

Many years ago my grandmother made the statement, "Everyone I know is either dead, or dying." I thought it was an odd statement since everyone I knew was either getting married or having kids. Your perspective depends on who you run with. Contrary to the perception from popular media, not all companies are cutting dividends, many are still raising them, and some are starting a new dividend program.

This week is no different, the dividend increases continue with several companies sharing the wealth with their shareholders through higher cash dividends:

Kaydon (KDN) designs, manufactures, and sells custom engineered products in North America, Europe, and Asia. Recently, the company increased its quarterly 5.9% to $0.18/share. The dividend is payable October 5, 2009 to shareholders of record as of the close of business on September 14, 2009. The current yield based on the new dividend is 2.22%.

American Water Works (AWK) provides water, wastewater and other water-related services to residential, commercial, and industrial customers in the United States and Canada. Last week, the company raised its quarterly cash dividend by 5% to $0.21/share. The dividend is payable on September 1, 2009 to all shareholders of record as of August 18, 2009. The current yield based on the new dividend is 4.20%.

Atrion (ATRI) designs, develops, manufactures, markets, sells and distributes various products and components, primarily for the medical and health care industry. Tuesday,the company boosted its quarterly cash dividend 20% to $0.36/share. The dividend is payable on September 30, 2009 to stockholders of record at the close of business on September 15, 2009. The current yield based on the new dividend is 1.10%.

Leggett & Platt (LEG) makes a broad line of bedding and furniture components and other home, office, and commercial furnishings, as well as diversified products for non-furnishings markets. Yesterday, the company raised its quarterly dividend 4% to $0.26/share. The dividend is payable October 15, 2009 to shareholders of record on September 15, 2009. The ex-dividend date is September 11. After seven straight quarters with its dividend froze at $0.25/share, this Dividend Aristocrat was two quarter away from being removed from the list. The current yield based on the new dividend is 5.90%.

Dover (DOV) manufactures a broad range of specialized industrial products and sophisticated manufacturing equipment. Thursday, the company increased it quarterly dividend 4% to $0.26. The dividend will be paid on September 15, 2009 to shareholders of record as of August 31, 2009. The ex-dividend date is August 27th. DOV is a Dividend Aristocrat that has increased its dividend for 54 consecutive years. The current yield based on the new dividend is 3.06%. [Analysis]

Finally, we celebrate the birth of a new dividend company as PetMed Express (PETS) declared its first ever dividend of $0.10/share on Monday. PETS markets prescription and nonprescription pet medications and other health products for dogs, cats, and horses directly to the consumer. The dividend is payable on August 31, 2009, to shareholders of record at the close of business on August 14, 2009, with an ex-dividend date of August 12th. The current yield based on the new dividend is 2.15%.

There are many companies that continue to consistently raise their dividends. For stocks with a long string of consecutive dividend increases, see this list.

Full Disclosure: No position in the aforementioned stock. See a list of all my income holdings here.
(Photo Credit)

Tags: [ATRI] [AWK] [DOV] [KDN] [LEG] [PETS]

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