Tuesday, March 31, 2009

Bexley Public Radio Dividend Note. No. 1, March 10, 2009.

March 10, 2009

An occasional note increases in shareholder dividends.

This is an informal collection of some information on dividend increases.

No commentary, analysis or recommendation is offered in this informal journal.

ACE Limited Mar 10 2009 (NYSE: ACE) said it will recommend that shareholders approve a 7% increase in the dollar-denominated dividend, to USD 1.24 annually (USD 0.31 per quarter). 

ACE also has announced that it is seeking regulatory authorization to insulate dividend payments from currency fluctuations.

Coca-Cola Company Mar 10, 2009 (NYSE: KO). Investors were rewarded with an 8% increase in the company's dividend, from $1.52 per share to $1.64. The Atlanta-based soft drink company has raised dividends for the last 47 years.

Colgate-Palmolive Mar 12 2009 (NYSE: CL), known for its toothpaste, laundry detergent and other household goods, announced a 10% increase in its dividend at the end of February. It will now pay investors an annual dividend of $1.76 per share, up from $1.60. Investors in

Dominion Mar 6 2009 (NYSE: D) today affirmed its 2008 annual operating earnings guidance of $3.10 to $3.15 per share. The board of directors earlier in the week declared a nearly 11 percent dividend increase and reconfirmed the company’s dividend policy. The company revised its 2009 operating earnings outlook to $3.20 to $3.30 per share from $3.30 to $3.45 per share as well as its 2009 and 2010 operating earnings per share growth rates. On December 17, the board declared a quarterly dividend of 43.75 cents per share of common stock, raising the quarterly dividend by nearly 11 percent, from 39.5 cents per share. The 2009 annual dividend rate is $1.75 per share. Dominion increased its annual dividend 11 percent in 2008 as well. Given the belief in the company’s sustainable business model, Dominion’s board of directors also reconfirmed the dividend policy set in October 2007 to achieve a 55 percent payout by 2010.
Dividends are payable on March 20, 2009, to shareholders of record February 27, 2009. This is the 324th consecutive dividend that Dominion or its predecessor company has paid holders of common stock. The company’s last quarterly dividend was declared October 24, 2008.

Essex Property Trust Mar 6 2009 (NYSE: ESS), which engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities, announced that its Board has approved a small increase in its quarterly dividend from $1.02 to $1.03 per share. Essex Property Trust has consistently increased its dividends for fourteen consecutive years. This real estate investment trust currently yields 7.50%.

General Dynamics Corp. Mar 10 2009 (NYSE: GD) raised its dividend by 8.6% to 38 cents, highlighting the strength of defense companies even amid the recession. Shares rose 1.9% to $40.97 in after-hours trading; they have fallen 57% in the past 10 months. While dividend cuts have been getting all the headlines, about 40 companies in the S&P 500 have boosted payouts this year, including 3M Co. (MMM), Abbott Laboratories (ABT) and Coca-Cola Co. (KO), compared with about 30 that have decreased or suspended them.

Kimberly-Clark Corporation Mar 6 2009 (NYSE: KMB) today said its board of directors has approved a dividend increase of 3.4 percent. This will bring the quarterly dividend to 60 cents per share, up from 58 cents per share in 2008. The board of directors declared the dividend payable on April 2, 2009, to stockholders of record on March 6, 2009. This is the 37th consecutive year Kimberly-Clark has raised its dividend.

Piedmont Natural Gas Mar 10 2009 (NYSE: PNY). North Carolina-based natural gas distributor Piedmont Natural Gas’s board of directors has approved an increase in the company's dividend for the 31st consecutive year. The board declared a quarterly dividend on common stock of $0.27 per share, a 3.8% increase over the previous quarterly dividend of $0.26 per share. The increased dividend is payable on April 15, 2009, to shareholders of record at the close of business on March 25, 2009.

Qualcomm Mar 12 2009 (NADASQ: QCOM), which designs, manufactures, and markets digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies, announced that its Board has approved a 6% increase in its quarterly dividend from $0.16 to $0.17 per common share. Qualcomm has consistently increased its dividends for six consecutive years..

Sempra Mar 10 2009 (NYSE: SRE) San Diego Gas & Electric's parent company, Sempra, announced yesterday that it is increasing dividends 11 percent to $1.56 per share annually, the highest level in a decade. The increase is in line with the San Diego company's target of paying out 35 percent to 40 percent of net income in dividends, spokesman Doug Kline said.

United States Steel Corporation Mar 12 2009 (NYSE: X) announced today that the Board of Directors declared
a dividend of 20 cents per share on U. S. Steel Common Stock, an increase of 5 cents per share. The dividend is payable December 9, 2006, to stockholders of record at the close of business November 15, 2006.

Universal Insurance Holdings, Inc. Mar 12 2009 (AMEX: UVE), a vertically integrated insurance holding company, announced today that its board of directors declared a dividend of $0.12 per share on its common stock. The dividend is payable on May 4, 2009 to shareholders of record as of April 9, 2009.

Wal-Mart Stores Inc. Mar 10 2009 (NYSE: WMT) said it is increasing its annual dividend to $1.09 a share, a 15% increase from the 95 cents a share paid during fiscal year 2009. The retail giant said that for the current fiscal year ending Jan. 31, 2010, the annual dividend will be paid in four quarterly installments of 27.25 cents a share, with the first payment set for April 6 to shareholders of record on March 13.

The decision to declare a dividend of twelve cents reflects the Company's positive results for the year ended December 31, 2008 and management's assessment of the Company's current business and corporate needs. It is an increase of 20 percent over the Company's most recent dividend that was paid on March 4, 2009. In 2008, the Company declared dividends of $0.40 per share and paid out to shareholders accrued dividends totaling $0.49 per share.

WGL Holdings Mar 12 2009 (NYSE: WGL). The Board of Directors of WGL Holdings, Inc. the parent company of Washington Gas Light Company, today voted to increase the quarterly dividend on its common stock to $0.3675 per share from $0.3550 per share. This change increases the annualized dividend level to $1.47 per share from $1.42 per share. Commenting on the announcement, Chairman and CEO James H. DeGraffenreidt, Jr. said, “Our strong fundamentals and achievement of excellence throughout the business have permitted us again this year to increase our annualized dividend. Even in the face of these difficult economic times, we continue to be committed to providing our shareholders with a steady and growing stream of income.” This annual increase is the 33rd consecutive year that WGL Holdings, Inc. has increased the cash dividend on its common stock. The company has one of the longest dividend payment records on the New York Stock Exchange, having provided cash rewards to shareholders for 158 consecutive years. The new quarterly dividend is payable May 1, 2009, to shareholders of record on April 10, 2009.


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Design is copyright 2009. All rights reserved. Bexley Public Radio Foundation. Text is copyright 2009. All rights reserved. Bexley Public Radio Editorial Collective.

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