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Dividend Sonar Report – May 5, 2014




Dividend Payout Increases

Ticker Name Market Cap (Billions) Dividend Declaration Date Previous Dividend Latest Dividend Dividend Payout Change Dividend Yield
PLT Plantronics Inc $1.9 04/29/2014 $0.1 $0.15 50% 1.4%
CBRL Cracker Barrel Old Country Sto $2.3 04/30/2014 $0.75 $1 33% 4.1%
LM Legg Mason Inc $5.5 04/29/2014 $0.13 $0.16 23% 1.4%
TSCO Tractor Supply Co $9.3 05/01/2014 $0.13 $0.16 23% 1.0%
DLX Deluxe Corp $2.8 04/29/2014 $0.25 $0.3 20% 2.2%
WINA Winmark Corp $0.4 04/30/2014 $0.05 $0.06 20% 0.3%
GWW WW Grainger Inc $17.2 04/30/2014 $0.93 $1.08 16% 1.7%
FELE Franklin Electric Co Inc $1.8 05/02/2014 $0.0775 $0.09 16% 0.9%
IBM International Business Machine $193.6 04/29/2014 $0.95 $1.1 16% 2.3%
WTS Watts Water Technologies Inc $1.9 04/29/2014 $0.13 $0.15 15% 1.1%
ARG Airgas Inc $7.9 05/01/2014 $0.48 $0.55 15% 2.1%
COST Costco Wholesale Corp $50.4 04/29/2014 $0.31 $0.355 15% 1.2%
NWL Newell Rubbermaid Inc $8.0 05/02/2014 $0.15 $0.17 13% 2.4%
AMP Ameriprise Financial Inc $21.3 04/28/2014 $0.52 $0.58 12% 2.1%
IVZ Invesco Ltd $15.5 05/01/2014 $0.225 $0.25 11% 2.8%
AWK American Water Works Co Inc $8.3 04/29/2014 $0.28 $0.31 11% 2.7%
PCAR PACCAR Inc $22.5 04/29/2014 $0.2 $0.22 10% 1.4%
RBC Regal-Beloit Corp $3.4 04/28/2014 $0.2 $0.22 10% 1.2%
XOM Exxon Mobil Corp $443.6 04/30/2014 $0.63 $0.69 10% 2.7%
CVX Chevron Corp $238.6 04/30/2014 $1 $1.07 7% 3.4%
MAN Manpowergroup Inc $6.5 04/29/2014 $0.46 $0.49 7% 1.2%
STBA S&T Bancorp Inc $0.7 04/29/2014 $0.16 $0.17 6% 2.9%
RLI RLI Corp $1.9 05/01/2014 $0.17 $0.18 6% 1.7%
ACC American Campus Communities In $4.1 05/01/2014 $0.36 $0.38 6% 3.9%
PAG Penske Automotive Group Inc $4.3 05/02/2014 $0.18 $0.19 6% 1.6%
APU AmeriGas Partners LP $4.4 04/28/2014 $0.84 $0.88 5% 7.5%
JLL Jones Lang LaSalle Inc $5.2 04/30/2014 $0.22 $0.23 5% 0.4%
UGI UGI Corp $5.4 04/29/2014 $0.2825 $0.295 4% 2.5%
HUM Humana Inc $17.0 04/30/2014 $0.27 $0.28 4% 1.0%
PEGI Pattern Energy Group Inc $1.3 05/02/2014 $0.3125 $0.322 3% 5.0%
FSIC FS Investment Corp $2.7 05/02/2014 $0.072 $0.07425 3% 8.7%
MIC Macquarie Infrastructure Co LL $3.4 04/30/2014 $0.9125 $0.9375 3% 6.3%
CTBI Community Trust Bancorp Inc $0.6 04/30/2014 $0.32 $0.29 N/A 3.2%

 

  • The 50% dividend hike at Plantronics (PLT) tops our list this week. This is the company’s first increase since 2012. Our Tech & Innovation Daily division has been all over the latest trends in wearable technology, and Plantronics is no stranger to this hot area.
  • Cracker Barrel (CBRL), which operates 620 restaurants, has now quadrupled its dividend since the beginning of 2012. CBRL’s trailing dividend payout ratio is 46%.
  • This is the first dividend action since a dividend cut in 2006 for Deluxe Corp. (DLX). The company’s core businesses are paper checks and business forms, but it does operate in higher-growth areas such as web hosting and various small business services.
  • International Business Machines (IBM) raised its dividend by a healthy 16%. Big Blue’s 2014 dividend hike is its largest since an 18% increase in 2010. This is the 19th year in a row that this information technology behemoth has increased its quarterly cash dividend, and the 11th year in a row of double-digit percentage increases. However, IBM also recently announced its eight straight quarterly decline in revenue.
  • S&P 500 Dividend Aristocrat Exxon Mobil (XOM) raised its dividend by 10%, which follows 11% and 21% increases in 2013 and 2012, respectively. However, XOM’s 2.7% yield still lags that of its international oil major peers.
  • Community Trust Bancorp (CTBI) announced a 10% stock dividend on top of a $0.29 quarterly cash dividend. A stock dividend involves a distribution of shares instead of cash. Don’t be fooled here – a stock dividend is analogous to a stock split. The shares outstanding increase, and the share price should adjust downward. The market cap of the company and the cash on its balance sheet remain the same.
  • The 7% dividend hike at Chevron (CVX) follows 11% increases in 2013 and 2012.
  • Humana (HUM) seems to be just going through the motions, as it has raised its dividend by just a penny in each of the last three years.

Dividend Initiations

Ticker Name Market Cap (Billions) Dividend Declaration Date Dividend Dividend Yield
TTEK Tetra Tech Inc $1.7 04/28/2014 $0.07 1.1%
NYRT New York REIT $1.0 04/23/2014 $0.03 0.8%
CBSO CBS Outdoor Americas Inc $3.7 04/28/2014 $0.37 5.0%
AMC AMC Entertainment Holdings Inc $2.2 04/28/2014 $0.2 3.5%
ADVS Advent Software Inc $1.5 04/28/2014 $0.13 1.8%
LRCX Lam Research Corp $9.3 04/29/2014 $0.18 1.3%
SC Santander Consumer USA Holding $7.9 05/01/2014 $0.15 2.6%

 

 

Dividend Cuts

Ticker Name Market Cap (Billions) Dividend Declaration Date Previous Dividend Latest Dividend Dividend Yield
HLF Herbalife Ltd $5.9 04/28/2014 $0.30 $0.0 0.0%
BKCC BlackRock Kelso Capital Corp $0.6 05/01/2014 $0.26 $0.21 9.9%

 

Dividend Action Watch

Ticker Name Tentative Dividend Declaration Date
PCL Plum Creek Timber Co Inc 05/07/2014
K Kellogg Co 05/08/2014
AIZ Assurant Inc 05/09/2014

 

Source: Dividends & Income Daily Research, Bloomberg

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