Sunday, November 15, 2009
An occasional note on dividends by Laura Franks. This is an informal collection of some information on dividend increases for mostly U.S. stocks.
Bexley Public Radio hopes this is a positive note amidst the dreadful reports from Wall Street since October 2007.
No commentary, analysis or recommendation is offered in this informal journal.
Companies "M" through "Z."
Maiden Holdings (NASDAQ: MHLD) HAMILTON, Bermuda, November 10, 2009, a reinsurance company, said it boosted the third quarter dividend by 8 percent to 6½ cents per share.
The Bermuda-based reinsurance holding company approved a dividend payable on Jan. 15 to shareholders of record as of Jan. 4.
The previous dividend was 6 cents per share.
Main Street Capital Corporation (Nasdaq:MAIN) Houston, TX, November 5, 2009 announced its financial results for the third quarter ended September 30, 2009.
During the third quarter of 2009, Main Street paid $0.375 per share in dividends, or $0.125 per share for each of July, August and September 2009. These dividends represented a 4.2% increase from the quarterly dividend paid in the corresponding period of 2008.
In September 2009, Main Street declared monthly dividends of $0.125 per share for each of October, November and December 2009. These monthly dividends equate to a total of $0.375 per share for the fourth quarter of 2009, and total calendar year 2009 dividends will be $1.50 per share. The dividends declared for the fourth quarter of 2009 represent an annualized yield of approximately 11% based upon the current price per share. Including the dividends declared for the fourth quarter of 2009, Main Street will have paid approximately $3.26 per share in cumulative dividends since its October 2007 initial public offering.
Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street's investments are made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one-stop" financing alternatives to its portfolio companies.
MDU Resources Group (NYSE: MDU) Bismarck, ND, November 12, 2009 increased the company's quarterly common stock dividend to $0.1575 per share, or $0.63 annualized. The dividends are payable January 1, 2010 to stockholders of record December 10, 2009. The ex-dividend date is December 4, 2009. Yield on the dividend is 2.8%.
MDU Resources Group, Inc. operates as a natural resource company in the United States. The company operates in six segments: Electric, Natural Gas and Oil Production, Construction Services, Pipeline and Energy Services, Construction Materials and Contracting, and Other.
Meadowbrook Insurance Group, Inc. (NYSE: MIG) Southfield, MI, November 2, 2009 announced financial results:
Net operating income up 6.9% to $11.7 million, or $0.20 per diluted share; Net income up 162.5% to $11.0 million, or $0.19 per diluted share; Combined Ratio of 95.3%; Gross Written Premium up 40.6% Book Value per share of $8.91, up 16.6% year to date.
Meadowbrook’s quarterly dividend is increased to $0.03 per share from $0.02 for shareholders of record on November 13, 2009.
Mercury General Corporation (NYSE: MCY) Los Angeles, CA, November 2, 2009 declared a quarterly dividend of $0.59 per share, representing a 1.7% increase over the quarterly dividend amount paid in 2008. The dividend is to be paid on December 30, 2009 to shareholders of record on December 16, 2009.
Mercury General Corporation and its subsidiaries are a multiple line insurance organization offering predominantly personal automobile and homeowners insurance through a network of independent producers in many states.
Meridian Bioscience, Inc. (NASDAQ: VIVO) Cincinnati, OH November 11, 2009 reported an increase in fourth quarter earnings, which topped analysts' estimates as revenues increased 16% and beat analysts' forecast. The company reaffirmed its earnings view and raised the regular cash dividend rate for fiscal 2010.
The Board declared the regular quarterly cash dividend of $0.17 per share for the fourth quarter. The dividend is payable on December 3 for holders of record on November 23. The Board has approved an increase to the indicated regular quarterly cash dividend rate of $0.02 bringing the quarterly rate to $0.19 per share for fiscal 2010.
Mesa Laboratories, Inc. (Nasdaq: MLAB) Lakewood, CO, November 12, 2009 announced a regular quarterly dividend of $.11 per share of common stock, up from $.10 per share last quarter. The dividend will be payable December 15, 2009, to shareholders of record on November 30, 2009.
Since going public in 1984 Mesa Labs has maintained strong cash positions and has continued to build its balance sheet through steady earnings growth. The increase in the regular quarterly dividend rate from $.10 to $.11 per common share represents a 10 percent increase from the previous dividend rate, and a 120 percent increase since initiation of the quarterly dividend policy in December 2003.
Mesa Laboratories develops, acquires, manufactures and markets electronic instruments and disposables for industrial, pharmaceutical and medical applications.
Microchip Technology Incorporated (NASDAQ: MCHP) Chandler, AZ, November 4, 2009 a leading provider of microcontroller and analog semiconductors, today announced that its Board of Directors has declared a quarterly cash dividend on its common stock of 34 cents per share. The dividend is payable on December 2, 2009 to stockholders of record on November 18, 2009. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003, and has increased the dividend 23 times since then.
"We are extremely pleased with the progress we have made in our business. We grew our cash and investment balance significantly during the September 2009 quarter and we have extremely high confidence in Microchip`s ability to generate cash flow in future periods," said Steve Sanghi, President and CEO. "Microchip`s Board of Directors authorized an increase in the quarterly dividend to 34 cents per share, which exemplifies their ongoing commitment to returning value to shareholders.”
Microchip Technology Incorporated is a leading provider of microcontroller and analog semiconductors, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality.
Montpelier Re Holdings Ltd. (NYSE: MRH) Hamilton, Bermuda November 5, 2009 announced that the Board of Directors has agreed to increase the regular quarterly dividend payable on the Company common shares by 20%.
Montpelier Re Holdings Ltd. through its subsidiaries in Bermuda, the United States, the United Kingdom and Switzerland, provides customized reinsurance and insurance solutions to the global market. The Company operates through four operating units: Montpelier Bermuda, Montpelier Syndicate 5151, MUSIC and Blue Ocean. Each of these units is a separate underwriting platform, writing reinsurance and insurance business. The Company acquired all the outstanding share capital of Blue Ocean Re Holdings Ltd. in June 2008. Prior to the Blue Ocean Transaction, it owned 42.2% of Blue Ocean’s outstanding common shares.
National Bankshares, Inc. (NASDAQ: NKSH) Blacksburg, VA, November 12, 2009 announced today the payment on December 1, 2009 of a semi-annual cash dividend of $0.43 per share to the Company's stockholders of record on November 23, 2009. Total dividends for 2009 are $0.84 per share, an increase of 5% over the stockholder dividends paid in 2008.
James G. Rakes, Chairman, President & CEO of National Bankshares, Inc. said, "Our Company has traditionally shared higher earnings with our stockholders in the form of higher dividends. In this challenging economy, it is especially gratifying to be able to increase dividends again this year."
National Bankshares, Inc. is a financial holding company that is the parent of the 118 year-old National Bank of Blacksburg, which does business as National Bank from 25 offices in Southwest Virginia. The Company has a second non-bank subsidiary that serves the same markets as National Bankshares Investment Services and National Bankshares Insurance Services.
Northeast Indiana Bancorp, Inc. (OTCBB: NIDB) Huntington, IN, November 2, 2009 (Current Market Cap: $14.11 Mil.) said it will pay a cash dividend of $0.17 per common share. This represents a 3.0% increase over the companys previous quarter dividend of $0.165 per common share.
The dividend will be payable on November 24 to shareholders of record on November 10.
Huntington, Indiana-based Northeast Indiana Bancorp offers banking and financial brokerage services to its customers through its main office in Huntington and four Indiana offices.
NTELOS Holdings Corp. (NASDAQ:NTLS) Waynesboro, VA, November 3, 2009 declared a quarterly cash dividend on its common stock in the amount of $0.28 per share to be paid on January 12, 2010 to stockholders of record on December 14, 2009. This amount represents an 8% increase in the quarterly dividend from the previous rate of $0.26 per share.
NTELOS Holdings Corp. is an integrated communications provider with headquarters in Waynesboro, VA. NTELOS provides products and services to customers in Virginia, West Virginia, Kentucky, Ohio, Tennessee, Maryland and North Carolina, including wireless phone service, local and long distance telephone services, IPTV-based video services, and data services for internet access and wide area networking.
Polo Ralph Lauren Corporation (NYSE: RL) New York, November 4, 2009 today declared a regular quarterly cash dividend of $0.10 per share on the common stock, an increase of $0.05 per share or 100% more than the previous quarterly cash dividend of $0.05 per share.
Polo Ralph Lauren Corporation designs, markets and distributes lifestyle products, including men’s, women’s and children’s apparel, accessories, fragrances and home furnishings. It operates in three integrated segments: Wholesale, Retail and Licensing. Its brands include apparel, accessories and fragrance collections for men and women, as well as childrenswear and home furnishings. Apparel products include collections of men’s, women’s and children’s clothing. Accessories encompass a range of footwear, eyewear, watches, jewelry, hats, belts and leathergoods, including handbags and luggage. Home products include bedding and bath products, furniture, fabric and wallpaper, paint, tabletop, and giftware. Fragrance products are sold under its Romance, Polo, Lauren, Safari, Ralph and Black Label brands, among others.
Prudential Financial Inc., (NYSE: PRU) Newark, NJ, November 10, 2009 the second-largest U.S. life insurer, increased its annual dividend 21 percent after posting its third straight quarterly profit.
The dividend of 70 cents a share is payable on Dec. 18 to owners of record on Nov. 24, the Newark, New Jersey-based insurer said today in a statement. Prudential had cut the dividend in half to 58 cents a year ago.
Prudential joins Travelers Cos., the insurer added this year to the Dow Jones Industrial Average, in increasing its dividend after the improvement in credit markets. Prudential is recovering after a net loss of more than $1 billion in 2008.
“Businesses that are more sensitive to market conditions, annuities and asset management, are fundamentally sound and are positioned to benefit from improving market conditions,” Chief Executive Officer John Strangfeld said in a conference call last week after the company posted third-quarter net income of $1.08 billion, its biggest profit in more than two years.
Southside Bancshares, Inc. (Nasdaq: SBSI), Tyler, TX, November 12, 2009 parent company of Southside Bank declared a special cash dividend of $0.20 per common share in addition to declaring a regular quarterly cash dividend of $0.14 per share. "This special cash dividend was approved by the Board of Directors as a tangible method for shareholders to share in Southside’s positive results reported during the first nine months of 2009," stated B. G. Hartley, Chairman of the Board and CEO. The combined $0.34 per share cash dividend is payable to common stock shareholders of record November 25, 2009.
The cash dividend is scheduled for payment on December 10, 2009.
"During the nine months ended September 30, 2009, we feel fortunate to have achieved significant earnings benchmarks. Due to the significant increase in our earnings, largely driven by favorable capital markets, the Board believes it is appropriate to share a portion of this success in the form of a special cash dividend. Cash dividends paid for 2009, including the cash dividends declared today, will total $0.75 per share, a 25% increase over the cash dividends paid during 2008."
Southside Bancshares, Inc. is a bank holding company with approximately $2.9 billion in assets that owns 100% of Southside Bank. Southside Bank currently has 44 banking centers in Texas and operates a network of 47 ATMs.
Span-America Medical Systems Inc. (Nasdaq: SPAN) Greenville, SC, November 11, 2009 said Wednesday its board of directors approved an 11 percent increase in the company's quarterly dividend to 10 cents. The dividend is payable Dec. 4 to shareholders of record as of Nov. 20. Shares of Span-America fell 8 cents to $16.16 in midday trading.
Span-America is a medical supplies company.
Stryker Corp. (NYSE: SYK) Kalamazoo, MI, November 1, 2009 announced the company's dividend payment would be transitioned to a quarterly dividend from an annual one. In order to accommodate this change, SYK will pay a 10 cent fourth quarter dividend for 2009. This will bring total 2009 dividends to 50 cents per share versus 33 cents per share paid in 2008. This represents a 51% increase in the dividend on a year over year basis. Further, the company will begin paying a 15 cent per share quarterly dividend beginning in the first quarter of 2010. If the 2009 dividend is spread over four quarters (12.5 cents per quarter), the 2010 quarterly dividend will represent a 20% increase over the 2009 estimated quarterly dividend.
Travelers Companies Inc. (NYSE: TRV) St. Paul, MN, November 4, 2009 recently raised full year guidance as it surprised on estimates for the third time in the last 4 quarters. The company is trading with a forward P/E of just 8.9.
The company has continued to repurchase stock. It bought back $1 billion in the third quarter and is forecasting purchasing $1.5 billion in the fourth quarter, more than its prior expectation. Additionally, Travelers is expanding its share repurchase program by another $6 billion.
The Board also increased the dividend by 10% to 33 cents per share. The stock is currently yielding 2.70%.
Travelers provides property and casualty insurance for autos, homes and businesses.
Triangle Capital Corporation (Nasdaq:TCAP) Raleigh, NC, November 4, 2009 a leading specialty finance company that provides customized financing solutions to lower middle market companies located throughout the United States, today announced its financial results for the third quarter of 2009.
Commenting on the quarter, Garland S. Tucker, III, President and CEO, stated, "After a relatively slow start to the year in terms of investment opportunities, we closed three new transactions totaling over $18 million in the third quarter. While we have been very pleased with the cost saving measures implemented by our portfolio companies, the current operating environment continues to be challenging. As we move into 2010, revenue growth will become a primary focus for most companies."
On September 23, 2009, Triangle announced that its board of directors had declared a cash dividend of $0.41 per share. This was the Company's eleventh consecutive quarterly dividend since its initial public offering in February, 2007, and reflected a 2.5% increase over the second quarter of 2009 and a 7.9% increase over the third quarter of 2008. The dividend was payable as follows:
Record Date: October 8, 2009
Payment Date: October 22, 2009
Triangle Capital is a specialty finance company organized to provide customized financing solutions to lower middle market companies located throughout the United States. Triangle's investment objective is to seek attractive returns by generating current income from debt investments and capital appreciation from equity related investments. Triangle's investment philosophy is to partner with business owners, management teams and financial sponsors to provide flexible financing solutions to fund growth, changes of control, or other corporate events. Triangle typically invests $5.0 - $15.0 million per transaction in companies with annual revenues between $20.0 and $75.0 million and EBITDA between $2.0 and $20.0 million.
Universal Corporation (NYSE: UVV), Richmond, VA, November 5, 2009 announced an increased regular quarterly dividend on the common shares of the Company by one cent to forty-seven cents ($.47) per share. The dividend is payable February 9, 2010, to common shareholders of record at the close of business on January 11,2010. This increase indicates an annualized rate of $1.88 per share and a yield of approximately 4.6% based on the $41.27 closing price on November 4, 2009.
Headquartered in Richmond, Virginia, Universal Corporation is the world's leading tobacco merchant and processor and conducts business in more than 30 countries. Its revenues for the fiscal year ended March 31, 2009, were $2.6
Vectren Corporation (NYSE: VVC) Evansville, IN, November 2, 2009 announced the Board of Directors has declared a quarterly common stock dividend of 34 cents per share, a 1/2 cent increase over the previous quarter. The dividend will be payable December 1, 2009 to shareholders of record at the close of business on November 13, 2009.
"This marks the 50th consecutive year that the annual dividends paid by Vectren and its predecessor companies have increased," said Niel C. Ellerbrook, Chairman and CEO of Vectren Corporation. "We are proud to continue being a part of a select group of companies that have achieved this level of long-term commitment to our shareholders."
Vectren is an energy holding company headquartered in Evansville, Indiana. Vectren's energy delivery subsidiaries provide gas and/or electricity to more than one million customers in adjoining service territories that cover nearly two-thirds of Indiana and west central Ohio. Vectren's nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the Midwest and Southeast. These include gas marketing and related services; coal production and sales; and energy infrastructure services.
Xilinx, Inc. (Nasdaq: XLNX) San Jose, CA, November 2, 2009 announced a $0.02 increase in the quarterly cash dividend to $0.16 per outstanding share of common stock, payable on November 24, 2009 to all stockholders of record at the close of business on November 4, 2009.
Xilinx, Inc. engages in the design, development, and marketing of programmable logic solutions.
For companies A through L, go to previous blog entry.
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Design is copyright 2009. All rights reserved. Bexley Public Radio Foundation. Text is copyright 2009. All rights reserved. Laura Franks.