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Friday, July 29, 2011

15 Companies Compounding Shareholder's Wealth With Higher Dividends

Compound interest is what occurs when interest previously earned is added to the principle and is considered when calculating future interest – i.e. earning interest on interest. So, what’s more powerful than compound interest? Compound dividends! Compound dividends are like compound interest on steroids – you are not only earning on reinvested dividends, but the dividend rate is increasing.

Here are several companies compounding their shareholder's wealth with increased cash dividends:

Republic Services, Inc. (RSG) provides nonhazardous solid waste collection, transfer, and disposal services. July 28th the company increased its quarterly dividend 10% to $0.22 per share. The dividend is payable on October 17, 2011 to stockholders of record on October 3, 2011. The yield based on the new payout is 3.1%.

Newmont Mining Corporation (NEM) engages in the acquisition, exploration, and production of gold and copper properties. July 27th the company increased its quarterly dividend 50% to $0.30 per share. The dividend is payable on September 29, 2011, to holders of record at the close of business on September 8, 2011. The yield based on the new payout is 2.1%.

Community Trust Bancorp, Inc. (CTBI) operates as the holding company for Community Trust Bank, Inc. that provides various banking products and services. July 27th the company increased its quarterly dividend 1.6% to $0.31 per share. The dividend is payable on October 1, 2011, to shareholders of record on September 15, 2011. The yield based on the new payout is 4.6%.

Kaydon Corporation (KDN) engages in the design, manufacture, and sale of custom engineered, and performance-critical products. July 27th the company increased its quarterly dividend 5.3% to $0.20 per share. The dividend is payable on October 3, 2011 to shareholders of record as of the close of business on September 12, 2011. The yield based on the new payout is 2.2%.

Hudson Valley Holding Corp. (HUVL) operates as the holding company for Hudson Valley Bank, which provides banking and related services. July 27th the company increased its quarterly dividend 33% to $0.20 per share. The dividend is payable to shareholders of record as of the close of business on August 12, 2011 on or about August 22, 2011. The yield based on the new payout is 4.1%.

RPC, Inc. (RES) is an oil and gas services company that provides a range of oilfield services and equipment to the oil and gas companies. July 27th the company increased its quarterly dividend 14% to $0.08 per share. The dividend is payable September 9, 2011 to common stockholders of record at the close of business on August 10, 2011. The yield based on the new payout is 1.3%.

Chesapeake Midstream Partners, L.P. (CHKM) owns, operates, develops, and acquires natural gas gathering systems and other midstream energy assets. July 26 the partnership increased its quarterly distribution 3.6% to $0.3625 per unit. The distribution is payable on August 12, 2011 to all unitholders of record at the close of business on August 5, 2011. The yield based on the new payout is 5.2%.

Penske Automotive Group, Inc. (PAG) operates as an automotive retailer in the United States and the United Kingdom. July 26th the company increased its quarterly dividend 14% to $0.08 per share. The dividend is payable on September 1, 2011, to shareholders of record on August 10, 2011. The yield based on the new payout is 1.3%.

International Flavors & Fragrances Inc. (IFF) creates, manufactures, and sells flavor and fragrance products. July 26th the company increased its quarterly dividend 15% to $0.31 per share. The dividend is payable on October 5, 2011 to all IFF shareholders of record as of September 21, 2011. The yield based on the new payout is 2.0%.

Norfolk Southern Corporation (NSC) engages in the rail transportation of raw materials, intermediate products, and finished goods. On July 26th the company increased its quarterly dividend 7.5% to $0.43 per share. The dividend is payable on Sept. 10, to stockholders of record on Aug. 5. The yield based on the new payout is 2.3%.

Crane Co. (CR) manufactures engineered industrial products in the United States and internationally. July 25th the company increased its quarterly dividend 13% to $0.26 per share. The dividend is payable on September 9, 2011 to shareholders of record as of the close of business on August 31, 2011. The yield based on the new payout is 2.1%.

Rayonier, Inc. (RYN) engages in the sale and development of real estate and timberland management, as well as in the production and sale of cellulose fibers. July 25th the company increased its quarterly dividend 11% to $0.40 cents per common share on a post-split basis. The dividend is payable on September 30, 2011, to shareholders of record on September 16, 2011. The yield based on the new payout is 3.6%.

Legacy Reserves LP (LGCY), an independent oil and natural gas limited partnership, engages in the acquisition and development of oil and natural gas properties. July 22nd the partnership increased its quarterly distribution 1.9% to $0.54 per share. The distribution is payable on August 12, 2011, to unitholders of record at the close of business on August 1, 2011. The yield based on the new payout is 7.4%.

The J. M. Smucker Company (SJM) engages in the manufacture and marketing of branded food products. July 22nd the company increased its quarterly dividend 9% to $0.44 per share. The dividend is payable on Thursday, September 1, 2011, to shareholders of record at the close of business on Friday, August 12, 2011. The yield based on the new payout is 2.2%.

KeyCorp (KEY) provides various banking services in the United States. July 22nd the company tripled its quarterly dividend to $0.03 per share. The dividend is payable September 15, 2011 to shareholders of record on August 30, 2011. The yield based on the new payout is 1.4%.

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. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Full Disclosure: No position in the aforementioned securities. See a list of all my dividend growth holdings here.

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Tags: [RSG] [NEM] [CTBI] [KDN] [HUVL] [RES] [CHKM] [PAG] [IFF] [NSC] [CR] [RYN] [LGCY] [SJM] [KEY]

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