Dividend Increases: February 8-14, 2020 (Part 1)

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I monitor dividend increases for stocks in the Dividend Champions List (CCC list).

The CCC list is separated into three categories based on how long companies have maintained their streak of annually increasing dividends: Champions (25+ years), Contenders (10- 24 years), and Challengers (5-9 years).

In the past week, 29 companies in the CCC list declared dividend increases, including four of the stocks I own. The following table covers the Dividend Champions and Dividend Contenders. Please see Part 2 of this article for coverage of the Dividend Challengers.

The table is sorted into sections for Champions, Contenders, and Challengers, and then by the percentage increase, %Incr. Dividends are annualized and in US$, unless otherwise indicated. Yield is the new dividend yield for the market close Price on the date listed. Yrs are years of consecutive dividend increases, while 5-yr DGR is the compound annual growth rate of the dividend over a 5-year period.

Some companies increase their dividends more than once a year, so the last column (1-yr %Incr) indicates the percentage increase from the year-ago dividend.

The following dividend increase data are sorted alphabetically by ticker.

Auburn National Bancorporation (AUBN)

AUBN operates as the bank holding company for AuburnBank, providing various banking products and services in East Alabama. The company provides various deposit and loan products, as well as a range of financial services. AUBN was founded in 1907 and is headquartered in Auburn, Alabama.

  • On Feb 11, AUBN declared a quarterly dividend of 25.5¢ per share.
  • This is an increase of 2.0% from the prior dividend of 25¢.
  • Payable Mar 25 to shareholders of record on Mar 10; ex-div: Mar 9.

Brookfield Infrastructure Partners (BIP)

BIP engages in utility, transport, energy, and communications infrastructure businesses. The company Utilities segment operates in North and South America, the United Kingdom, and Australia. Brookfield Infrastructure Partners Limited serves as the general partner of the company. BIP was founded in 2007 and is based in Hamilton, Bermuda.

  • On Feb 10, BIP declared a quarterly distribution of 53.75¢ per unit.
  • This is an increase of 7.0% from the prior distribution of 50.25¢.
  • Payable Mar 31 to unitholders of record on Feb 28; ex-div: Feb 27.

CSX Corp. (CSX)

Founded in 1978 and based in Jacksonville, Florida, CSX is a rail-based transportation supplier in the United States and Canada. The company offers traditional rail service through its approximately 21,000-route mile rail network. CSX also offers intermodal services that link customers to railroads through trucks and terminals.

  • On Feb 12, CSX declared a quarterly dividend of 26¢ per share.
  • This is an increase of 8.3% from the prior dividend of 24¢.
  • Payable Mar 13 to shareholders of record on Feb 28; ex-div: Feb 27.

Equity LifeStyle Properties (ELS)

ELS is a publicly owned real estate investment trust engaged in the ownership and operation of lifestyle-oriented properties in the United States. The company’s portfolio consists of manufactured home communities and recreational vehicle resorts and campgrounds. ELS was founded in 1992 and is based in Chicago, Illinois.

  • On Feb 11, ELS declared a quarterly dividend of 34.25¢ per share.
  • This is an increase of 11.8% from the prior dividend of 30.63¢.
  • Payable Apr 10 to shareholders of record on Mar 27; ex-div: Mar 26.

Healthcare Services Group (HCSG)

HCSG provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States. HCSG was founded in 1976 and is based in Bensalem, Pennsylvania.

  • On Feb 11, HCSG declared a quarterly dividend of 20.13¢ per share.
  • This is an increase of 0.6% from the prior dividend of 20¢.
  • Payable Mar 27 to shareholders of record on Feb 28; ex-div: Feb 27.

Moody’s (MCO)

Headquartered in New York, New York, MCO operates through two segments: Moody’s Investors Service and Moody’s Analytics. The Moody’s Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations. The Moody’s Analytics segment develops products and services that support financial analysis and risk management activities. MCO was founded in 1900.

  • On Feb 12, MCO declared a quarterly dividend of 56¢ per share.
  • This is an increase of 12.0% from the prior dividend of 50¢.
  • Payable Mar 18 to shareholders of record on Feb 25; ex-div: Feb 24.

NextEra Energy (NEE)

NEE, formerly known as FPL Group, is an electric power company with approximately 42,500 MW of generating capacity in 26 states in the United States and 4 provinces in Canada. The company generates electricity from gas, oil, coal, petroleum coke nuclear, solar and wind. NEE was founded in 1984 and is based in Juno Beach, Florida.

  • On Feb 14, NEE declared a quarterly dividend of $1.40 per share.
  • This is an increase of 12.0% from the prior dividend of $1.25.
  • Payable Mar 16 to shareholders of record on Feb 28; ex-div: Feb 27.

Nu Skin Enterprises (NUS)

Founded in 1984, NUS is a global direct selling company with operations in more than 50 markets worldwide. The company develops and distributes innovative, premium-quality anti-aging personal care products and nutritional supplements under its Nu Skin and Pharmanex brands, respectively. NUS is headquartered in Provo, Utah.

  • On Feb 12, NUS declared a quarterly dividend of 37.5¢ per share.
  • This is an increase of 1.4% from the prior dividend of 37¢.
  • Payable Mar 11 to shareholders of record on Feb 28; ex-div: Feb 27.

NorthWestern Corp. (NWE)

NWE provides electricity and natural gas to residential, commercial, and industrial customers in Montana, Nebraska, and South Dakota. The company generates, transmits, and distributes electricity. It also produces, stores, transmits, and distributes natural gas. NWE was founded in 1923 and is based in Sioux Falls, South Dakota.

  • On Feb 12, NWE declared a quarterly dividend of 60¢ per share.
  • This is an increase of 4.3% from the prior dividend of 57.5¢.
  • Payable Mar 31 to shareholders of record on Mar 13; ex-div: Mar 12.

PPL Corp. (PPL)

Founded in 1920 and headquartered in Allentown, Pennsylvania, PPL is an energy and utility holding company. Through its subsidiaries, PPL delivers electricity and natural gas to customers in the United States and the United Kingdom. The company controls more than 12,000 megawatts of generating capacity in the United States.

  • On Feb 14, PPL declared a quarterly dividend of 41.5¢ per share.
  • This is an increase of 0.6% from the prior dividend of 41.25¢.
  • Payable Apr 1 to shareholders of record on Mar 10; ex-div: Mar 9.

Primerica (PRI)

PRI, together with its subsidiaries, distributes financial products through licensed sales representatives to middle-income households in the United States and Canada. The company operates in three segments: Term Life Insurance; Investment and Savings Products; and Corporate and Other Distributed Products. PRI was founded in 1927 and is headquartered in Duluth, Georgia.

  • On Feb 11, PRI declared a quarterly dividend of 40¢ per share.
  • This is an increase of 17.6% from the prior dividend of 34¢.
  • Payable Mar 16 to shareholders of record on Feb 24; ex-div: Feb 21.

Robert Half International (RHI)

Founded in 1948 and headquartered in Menlo Park, California, RHI provides staffing and risk consulting services to customers in about 400 locations worldwide. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. RHI markets its staffing services to clients as well as to employment candidates.

  • On Feb 12, RHI declared a quarterly dividend of 34¢ per share.
  • This is an increase of 9.7% from the prior dividend of 31¢.
  • Payable Mar 16 to shareholders of record on Feb 25; ex-div: Feb 24.

T. Rowe Price Group (TROW)

Founded in 1937, TROW is a financial services holding company that provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds and other investment portfolios, as well as through variable annuity life insurance plans. TROW is based in Baltimore, Maryland.

  • On Feb 12, TROW declared a quarterly dividend of 90¢ per share.
  • This is an increase of 18.4% from the prior dividend of 76¢.
  • Payable Mar 30 to shareholders of record on Mar 16; ex-div: Mar 13.

United Parcel Service (UPS)

UPS is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight, the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide.

  • On Feb 13, UPS declared a quarterly dividend of $1.01 per share.
  • This is an increase of 5.2% from the prior dividend of 96¢.
  • Payable Mar 10 to shareholders of record on Feb 25; ex-div: Feb 24.

Please note that I’m not recommending any of these stocks. Readers should do their own research on these companies before buying shares.

Below, I’m including charts from F.A.S.T. Graphs for three of this week’s dividend raisers: TROW, MCO, and RHI.

In these charts, the black line represents the share price, and the blue line represents the calculated P/E multiple at which the market has tended to value the stock over time. The orange line is the primary valuation reference line. It is based on one of three valuation formulas, depending on the earnings growth rate achieved over the time frame in question. (The Adjusted Earnings Growth Rate represents the slope of the orange line in the chart.)

TROW’s price line (black) is above the primary valuation line (orange) and below the stock’s normal P/E ratio (blue). The stock is trading at about fair value. An investment in TROW in January 2010 would have returned 11.2% on an annualized basis (with dividends included).

MCO’s price line is above the stock’s normal P/E ratio and above the primary valuation line. The stock is trading at a premium fair value. An investment in MCO in January 2010 would have returned 26.5% on an annualized basis (with dividends included).

RHI’s price line is below the primary valuation line and below the stock’s normal P/E ratio. The stock is trading at a discount fair value. An investment in RHI in January 2010 would have returned 9.7% on an annualized basis (with dividends included).

Upcoming Ex-Dividend Dates

As a bonus, here is a summary of available ex-dividend dates for the next two weeks. You must own a stock before its ex-dividend date to be eligible to receive the next dividend.

The table is divided into sections by Ex-Div Date and sorted by Ticker for each date. Please note that Payout is the dollar amount payable per share or unit on the Pay Date.

Also, note this table contains the ex-dividend dates for Dividend Champions and Dividend Contenders only. See Part 2 of this article for the ex-dividend dates of Dividend Challengers.

Summary of Upcoming Ex-Dividend Dates: February 18-March 2, 2020

Company (Ticker)

Yield

Price

(14.Feb)

Yrs

5-Yr

DGR

Pay-

out

Pay

Date

Tuesday, 18 February (Ex-Div Date 02/18)

Aflac Inc. (AFL)

2.12%

$52.81

37

7.9%

0.28

03/02

Consolidated Edison (ED)

3.24%

$94.30

46

3.3%

0.765

03/16

Wednesday, 19 February (Ex-Div Date 02/19)

Autoliv (ALV)

3.21%

$77.26

10

3.2%

0.62

03/05

Thursday, 20 February (Ex-Div Date 02/20)

Avista Corp. (AVA)

3.11%

$52.01

17

4.1%

0.405

03/13

Friday, 21 February (Ex-Div Date 02/21)

Assurant (AIZ)

1.77%

$142.52

16

18.0%

0.63

03/16

Atmos Energy Corp. (ATO)

1.91%

$120.45

36

7.5%

0.575

03/09

Thursday, 27 February (Ex-Div Date 02/27)

Ashland Global Holdings (ASH)

1.36%

$80.76

10

10.1%

0.275

03/15

Brookfield Renewable Partners (BEP)

3.98%

$54.49

11

6.2%

0.5425

03/30

Brookfield Infrastructure Partners (BIP)

3.88%

$55.45

12

9.4%

0.5375

03/31

Badger Meter (BMI)

0.98%

$69.11

27

11.6%

0.17

03/13

Dominion Energy (D)

4.30%

$87.46

17

8.9%

0.94

03/20

Dover Corp. (DOV)

1.64%

$119.86

64

4.6%

0.49

03/16

Estee Lauder (EL)

0.89%

$215.01

10

16.1%

0.48

03/16

Evercore (EVR)

2.88%

$80.46

13

16.8%

0.58

03/13

Flowers Foods (FLO)

3.37%

$22.52

18

9.1%

0.19

03/13

Monday, 2 March (Ex-Div Date 03/02)

Arrow Financial Corp. (AROW)

2.98%

$34.92

26

2.7%

0.26

03/13

Cass Information Systems (CASS)

2.02%

$53.35

18

11.3%

0.27

03/13

Thanks for reading and happy investing!

If you have any ideas for improving the format or data included in this series, please let me know in the comments below!

Disclosure: I am/we are long TROW, NEE, UPS. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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