Dividend Note No. 35. This is my report on dividend increases for the first quarter of 2011. One-hundred and twenty-nine companies increased their dividend payments.
I'm still surprised at the number of increased dividends reported here. There is a recession and unemployment numbers are unusually high. What is going on here? Is it that corporate America gets so much of its revenue from government purchases that it doesn't matter that the consumer economy is in shambles? The 129 companies listed for this report are:
Acadian Timber Corp.
Access National Corporation
Activision Blizzard, Inc.
The Allstate Corporation
The Andersons, Inc.
Apartment Investment and Management Company
Arthur J. Gallagher & Co
Auburn National Bancorporation, Inc.
Avery Dennison Corp.
Baxter International Inc.
BHP Billiton Ltd.
Black Hills Corporation
Buckeye Technologies Inc
California Water Service Group
Canadian National Railway
Capstead Mortgage Corporation
Cardinal Financial Corporation
Church & Dwight Co. Inc.
Coca Cola Company
Cisco Systems, Inc.
Digital Realty Trust
Emclaire Financial Corp.
Fiera Sceptre Inc.
Flushing Financial Corporation
Foot Locker, Inc.
Fulton Financial Corporation
Group 1 Automotive, Inc.
Health Care REIT, Inc.
Healthcare Services Group, Inc.
Heartland Payment Systems Inc.
The Hershey Company
Home Depot, Inc.
Independent Bank Corp.
Infinity Property and Casualty Corporation
Jack Henry & Associates, Inc.
J.B. Hunt Transport Services Inc.
KMG Chemicals, Inc.
Lake Shore Bancorp, Inc.
Main Street Capital Corporation
Mayflower Bancorp, Inc.
NextEra Energy, Inc.
Norfolk Southern Corporation
Northeast Utilities System
Old Republic International Corporation
Owens & Minor, Inc.
Patterson Companies, Inc.
Polaris Industries Inc.
Potash Corporation of Saskatchewan Inc.
Ralph Lauren Corporation
Reliance Steel & Aluminum Co.
RenaissanceRe Holdings Ltd.
Reynolds American Inc.
Rio Tinto Plc
Rogers Communication Inc.
Russel Metals Inc.
Sandy Spring Bancorp, Inc.
Service Corporation International
Southwest Gas Corporation
Stanley Black & Decker
Teche Holding Company
TECO Energy, Inc.
Textainer Group Holdings Limited
Thomson Reuters Corporation
Time Warner Cable Inc.
Time Warner Inc.
T. Rowe Price Group, Inc.
United Parcel Service
Urstadt Biddle Properties Inc.
Validus Holdings Ltd.
Vornado Realty Trust
Washington Trust Bancorp, Inc.,
Waste Management, Inc.
Weingarten Realty Investors
The Westar Energy, Inc.
West Fraser Timber Co. Ltd.
Westwood Holdings Group, Inc
Wolverine World Wide, Inc.
Woodward Governor Co.
Wyndham Worldwide Corporation
The company that I found interesting because I had never heard of it is STMicroelectronics which has worldwide multi-billion dollar revenues. Amazing. Full report follows. For the same reasons I found Heartland Payment Systems fascinating. A major enterprise that has no public profile at all. And finally, look at West Fraser Timber Co. Ltd. A straight forward enterprise with executives whose feet are well planted on the ground. Refreshing.
3M (NYSE: MMM) February 18, 2011, Minneapolis, Minnesota, The manufacturing giant 3M raised its quarterly dividend to shareholders by 5% to 55 cents per share. The company also said it was instituting a $7 billion share repurchase program. The higher dividend will be made to shareholders on March 12 who are shareholders on the record date of Feb. 18. This is the fifty-third consecutive annual dividend increase for 3M shareholders.
Abbott (NYSE: ABT) Abbott Park, Illinois. The board of directors of Abbott today increased the company's quarterly common dividend 9 percent to 48 cents per share. This marks the 39th consecutive year that Abbott has increased its dividend payout and the 349th consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable May 16, 2011, to shareholders of record at the close of business on April 15, 2011.
Abbott is a global, broad-based health care company that developments, manufactures and markets pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs nearly 90,000 people and markets its products in more than 130 countries.
Acadian Timber Corp. (TSX: ADN) February 8, 2011, Vancouver, British Columbia. All figures in Canadian dollars unless otherwise noted
Acadian Timber reported financial and operating results(2) for the three month period and year ended December 31, 2010.
For the three months ended December 31, 2010 (the "fourth quarter"), Acadian generated net sales of $20.5 million on consolidated volumes of 382 thousand m3, compared with net sales of $16.7 million on consolidated volumes of 343 thousand m3 during the same period last year. The company also reported an increase of Acadian's target annual dividend to $0.825 per share, equivalent to levels prior to last year's dividend cut and consistent with that established at the time of initial public offering. Acadian generated free cash flow of $13.6 million with declared dividends of $3.6 million during the year ended December 31, 2010. A portion of the incremental free cash flow was used to repay $5.5 million on Acadian's revolving credit facility, drawn primarily to fund last year's corporate conversion, leaving Acadian with a cash balance of $7.3 million. This strong cash position and improved cash flow, in addition to the anticipated reduction in interest expense related to the terms of our refinanced debt, fully supports the decision to increase the dividend.
The new target dividend will be effective in the first quarter of 2011.
Access National Corporation (NASDAQ: ANCX) January 26, 2011, Reston Virginia. Access National Corporation, parent company for Access National Bank, reported fourth quarter net income of $2.2 million, a 10% increase over the $2.0 million recorded in the fourth quarter of 2009. This represents the company’s 42nd consecutive quarterly profit.
The board of directors also declared a cash dividend of $0.02 per share for shareholders of record as of February 10, 2011, representing a 100% increase over per share dividends paid in recent periods. The dividend will be paid on February 25, 2011.
Activision Blizzard, Inc. (NASDAQ: ATVI). Santa Monica, California. This videogame maker said it would increase its quarterly dividend by 10% to 16.5 cents per share per. The new payment will be made on May 11 to shareholders of record as of March 16. The announcement came along the release of better-than-expected Q4 revenue and earnings. The company also set a new $1.5 billion share repurchase program. Activision said it expected current quarter and full-year earnings to come in below estimates. It also said it would stop development of its once über-popular Guitar Hero titles.
Aetna, Inc. February 5, 2011. Hartford, Connecticut. This health insurer announced a significantly higher dividend payment for shareholders and predicted its 2011 profit will be much bigger than what Wall Street expects.
The Hartford, Conn., company also said its fourth-quarter net income rose 30 percent due in part to better pricing and a slowdown in health care use that also has helped its competitors in the last few months of 2010.
Aetna will now pay a 15-cent quarterly dividend on April 29 to shareholders as of April 14. Big health insurers normally offer token dividends like the 4-cent annual one Aetna paid November 30, 2010..
Albemarle Corporation (NYSE: ALB). Baton Rouge, Louisiana. This specialty chemical maker increased its quarterly dividend to 16.5 cents per share from 14 cents per share. The new dividend is payable Apr. 1 to shareholders of record on March 15, 2011. The dividend increase comes just weeks after Albemarle reported better-than-expected fourth-quarter profit on increased sales in each of its business units.
Albemarle is a global developer, manufacturer and marketer of engineered specialty chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, automotive/transportation, pharmaceuticals, crop protection, food-safety and custom chemistry services. The Company operates in three segments: Polymer Solutions, Catalysts and Fine Chemicals. Albemarle’s Polymer Solutions segment consists of two product market categories: flame retardants and stabilizers and curatives. Albemarle’s Catalysts segment includes its refinery catalysts and polyolefin catalysts businesses. Its Fine Chemistry segment consists of two categories: performance chemicals and fine chemistry services and intermediates. In August 2010, the Company sold its Teesport, the United Kingdom facility to Kemira Oyj. On September 13, 2010, it purchased some property and equipment in Yeosu, South Korea.
AGL Resources. (NYSE: AGL) February 8, 2011. Atlanta, Georgia. The board of directors of AGL Resources Inc. approved an increase of $0.04 per share in the annual dividend rate on the company's common stock, to an indicated annual dividend of $1.80 per share. The new quarterly dividend rate of $0.45 per share is effective for the dividend payable March 1, 2011 to shareholders of record at the close of business on February 18, 2011.
The dividend payment will mark the 253rd consecutive quarterly dividend the company has paid since 1948.
AGL Resources is an Atlanta-based energy services company,has approximately 2.3 million customers in six states. The company also owns Houston-based Sequent Energy Management, an asset manager serving natural gas wholesale customers throughout North America. As an 85-percent owner in the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. The company also owns and operates two high-deliverability natural gas storage facilities: Jefferson Island Storage & Hub near the Henry Hub in Louisiana and Golden Triangle Storage in Texas.
The Allstate Corporation, (NYSE: ALL) February 8, 2011. Northbrook, Illinois. Allstate is the largest publicly-traded U.S. home and auto insurer. It raised its dividend for the first time since 2008 after posting a seventh straight quarterly profit.
The dividend was boosted 5 percent to 21 cents a share from 20 cents, Northbrook, Illinois-based Allstate said today in a statement. Stockholders of record on March 11 will receive the payouts on April 1.
Net income in the fourth quarter slipped to $296 million, or 55 cents a share, from $518 million, or 96 cents, a year earlier, Allstate said in a Feb. 9 statement. Chief Executive Officer Thomas Wilson said the insurer has $3.8 billion in cash and liquid securities to fund dividends and share repurchases. Allstate announced a $1 billion share-buyback program on Nov. 9.
“If we don’t have a use for the capital, we give it back to the shareholders,” Wilson said in a conference call on Feb. 10. “When we’re done with this one, if we still have extra capital, we’ll consider doing another one.”
Allstate last announced a dividend increase in February 2008, when the payout was boosted to 41 cents a share from 38 cents. The dividend was cut to 20 cents a year later after three straight quarterly losses.
The Andersons, Inc. (NASDAQ: ANDE) February 8, 2011. Toledo, Ohio. This diversified agriculture and transportation company posted fourth quarter earnings of $1.39 per share, well above the Wall Street estimate of $0.87 per share profit while revenue of $1.15 billion also beat the consensus estimate ($1.05 billion). Net income attributable to the company topped last year’s Q4 figure by a stunning 59%, while total sales rose by 26%.
The Andersons gave shareholders a 22% raise in December, making 2011 its 14th consecutive year with a dividend increase. The company has raised its payout 15 times overall since it began returning cash to shareholders in 1996, more than tripling its dividend rate over that span.
Apartment Investment and Management Company (“Aimco”) (NYSE: AIV) February 2, 2011, Denver, Colorado, announced today that its board of directors declared a quarterly cash dividend of $0.12 per share of Class A Common Stock for the quarter ended December 31, 2010, payable on February 28, 2011, to stockholders of record on February 18, 2011.
The fourth quarter 2010 dividend of $0.12 per share represents a 20% increase over the quarterly dividend paid for the last seven quarters, and is reflective of a better operating environment and more stable capital markets than two years ago. During this time, Aimco has strengthened its balance sheet by eliminating all non-recourse debt, reducing near-term maturities of property debt in order to reduce refunding risk and take advantage of today’s low interest rates, and by reducing its cost of preferred equity.
Terry Considine, Chairman and Chief Executive Officer, comments, “Regular dividends are an important part of Aimco shareholder returns so I am pleased that the Aimco Board of Directors increased the dividend at this time. We enter 2011 with optimism concerning the recovery of apartment fundamentals, while remaining cautious about the broader economy. The dividend increase provides shareholders with an improved current return, and also allows Aimco to retain significant cash flow both to reduce overall leverage and to reinvest in our portfolio.”
Aimco is a real estate investment trust that is focused on the ownership and management of quality apartment communities located in the 20 largest markets in the United States. Aimco is one of the country’s largest owners and operators of both conventional and affordable apartments, with 801 communities serving approximately 500,000 residents in 43 states, the District of Columbia and Puerto Rico. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500. For more information about Aimco, please visit our website at www.aimco.com.
Arthur J. Gallagher & Co. (NYSE: AJG) January 27, 2011, Itasca, Illinois, announced that its board of directors declared a $0.33 per share quarterly cash dividend on the company's common stock payable on April 15, 2011 to shareholders of record as of March 31, 2011.
"We are pleased to announce this 3% increase in our dividend, which reflects the Board's continued confidence in our company and in our ability to grow in this challenging environment," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "Over the years, we've been committed to rewarding our shareholders, and this increase is a reflection of that continued commitment."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 16 countries and does business in more than 110 countries around the world through a network of correspondent brokers and consultants.
Auburn National Bancorporation, Inc. (NASDAQ: AUBN) February 8, 2011, Auburn, Alabama. On February 8, 2011, the board of directors of Auburn National Bancorporation, Inc. declared a first quarter $0.20 per share cash dividend, payable March 25, 2011 to shareholders of record as of March 10, 2011. This represents a 2.6% increase over dividends declared for the first quarter of 2010. On an annual basis, the cash dividend paid to shareholders has increased in 15 of the last 16 years.
Auburn National Bancorporation, Inc. (the "Company") is the parent company of Auburn Bank with total assets of approximately $764 million. The bank is an Alabama state-chartered bank that is a member of the Federal Reserve System and has operated continuously since 1907. Both the bank holding company and the bank are headquartered in Auburn, Alabama. The bank conducts its business in East Alabama, including Lee County and surrounding areas. The bank operates full-service branches in Auburn, Opelika, Hurtsboro and Notasulga, Alabama. In-store branches are located in the Auburn and Opelika Kroger stores, as well as in the Wal-Mart SuperCenter stores in Auburn, Opelika, and Phenix City, Alabama. Mortgage loan offices are located in Phenix City, Valley, and Mountain Brook, Alabama.
Autoliv Inc. (NYSE:ALV) February 22, 2001, Stockholm, Sweden raised its quarterly dividend payment by 8% to 43 cents per share for the second quarter of 2011. The company hiked its dividend for the third time in less than a year, reflecting its strong financial position and rapid recovery from the economic recession. The dividend will be payable on June 2, 2011 to shareholders of record on the close of business on May 5, 2011.
Last year, Autoliv raised its dividend by 17% to 35 cents per share for the fourth quarter and then by 14% to 40 cents per share for the first quarter of this year. The first quarter dividend will be paid on March 3, 2011 to shareholders of record as on February 3, 2011.
The dividend of 43 cents even exceeds the highest dividend of 41 cents per share paid by the company before the financial crisis. The new dividend will bring the total dividend payment to $38 million, a 30% increase from the highest amount paid before the economic crisis, primarily due to a 24% rise in the number of shares outstanding.
Autoliv suspended its dividend payment since the third quarter of 2009 in the light of a decline in global light vehicle production due to economic recession. The company resumed its dividend payment of 30 cents per share in the third quarter of 2010.
The company is a worldwide supplier of automotive safety equipment such as seatbelts and airbags. It has technology for a wide product offering for automotive safety. All the leading automobile manufacturers in the world are customers and it serves them from 80 facilities in 29 countries. The company tests cars and products at 21 crash test tracks in 11 countries, and it employs nearly 43,000 people globally.
The company’s sales were affected by favorable vehicle mix from General Motors (GM), Ford Motor (F), Chinese manufacturers and Chrysler as well as strong sales growth in Japan.
Despite the improved results, strong financial position and promising outlook, Autoliv faces considerable customer concentration risks. Moreover, sluggish production in Western Europe may continue to adversely affect the company’s results.
Avery Dennison Corp. (NYSE: AVY) February 2, 2011, Pasadena, California, makes adhesives for everything from beverage labels to apparel tags and road signs. Management approved a 25% dividend increase to 25 cents per share from 20 cents, payable March 16 to shareholders of record on March 2. News of the higher dividend payout came along with news of a near doubling in fourth-quarter profits.
Avista Corp. (NYSE: AVA) February 4, 2011, Spokane, Washington. The Avista board of directors has declared a quarterly dividend of $0.275 per share on the company's common stock, an increase of $0.025 per share, yielding an annualized dividend of $1.10. The common stock dividend is payable March 15, 2011, to shareholders of record at the close of business on Feb. 18, 2011.
"The dividend increase approved by the board of directors shows our commitment to targeting an industry average payout ratio for our shareholders and demonstrates the board's confidence in our continued progress toward achieving our goals," said Avista Corp. Chairman, President and Chief Executive Officer Scott Morris. "We believe a solid dividend at an industry average payout ratio of 60 percent to 70 percent is important in continuing to attract investment in our company."
The declaration of dividends is at the sole discretion of the board of directors. The board considers the level of dividends on a regular basis, taking into account numerous factors, including financial results, business strategies, and economic and competitive conditions.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is its operating division that provides electric service to 357,000 customers and natural gas to 316,000 customers. Its service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.5 million. Avista's primary, non-utility subsidiary is Advantage IQ.
AVX Corporation (NYSE: AVX) February 3, 2011, Greenville, South Carolina. The board of directors of AVX Corporation recently declared a dividend of $0.055 per common share for the quarter ended December 31, 2010. This represents a 22% increase over the prior dividend rate.
John Gilbertson, President and Chief Executive Officer, stated, "The company has continued to generate strong cash flows from operations through the quarter ended December 31, 2010, and we are pleased to be able to continue our history of quarterly dividends and to increase the current dividend rate to our shareholders."
Baxter International Inc. (NYSE: BAX). Deerfield, Illinois. The company declared a dividend of 31 cents per share, payable on April 1, 2011 to shareholders of record on March 10, 2011.
B&G Foods (NYSE: BGS) March 15, 2011, Parsippany, New Jersey, exceeded Wall Street’s quarterly earnings estimate of $0.20 with a posting of $0.28. About a week prior to the earnings announcement, the company had declared a dividend increase of 24% from $0.17 to $0.21 quarterly.
B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, shelf-stable foods across the United States, Canada and Puerto Rico. B&G Foods’ products include hot cereals, fruit spreads, canned meats and beans, spices, seasonings, marinades, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles and peppers and other specialty food products. B&G Foods competes in the retail grocery, food service, specialty store, private label, club and mass merchandiser channels of distribution. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Brer Rabbit, Cream of Rice, Cream of Wheat, Don Pepino, Emeril’s, Grandma’s Molasses, Joan of Arc, Las Palmas, Maple Grove Farms of Vermont, Ortega, Polaner, Red Devil, Regina, San Del, Sa-són Ac’cent, Sclafani, Trappey’s, Underwood, Vermont Maid and Wright’s.
BG Group (LSE: BG.L, also listed on the US over-the-counter market known as “International OTCQX”) February 8, 2011, Reading, Berkshire, United Kingdom, an oil and gas producer has operations in more than twenty-five countries on five continents.
With headquarters in the United Kingdom more than sixty percent of its professional staff are located outside the UK. In its latest financial statements, BC Group reported earnings per share up 18% in the full-year 2010, with cash flow from operations of $8.4bn.
Full year dividend was increased by 10% to 21.60 cents per share (13.66p per share).
Capital investment of $2.497bn in the quarter comprised investment in E&P ($2,071bn), LNG ($337m) and T&D ($89m) and reflected a ramp-up of activity in Australia, Brazil and the USA.
The Group's effective tax rate (including BG Group's share of joint venture and associates' tax) was 38.5% for the full year and included a credit of $106m in relation to a favourable settlement for a prior period.
In considering the dividend level the Board takes account of the outlook for earnings growth, cash flow and financial gearing. Taking these factors into account, the Board has recommended a final dividend of 11.78 cents per share (7.31p per share), bringing the full year dividend to 21.60 cents per share (13.66p per share), an increase of 10% compared with last year.
BHP Billiton Ltd. (NYSE: BHP), March 14, 2011, London, United Kingdom, increased its quarterly dividend of 46 cents per share, a penny more than the current quarterly payout. The Anglo-Australian firm has decided to return capital to shareholders after the recent collapse of several large deals, including the company’s attempt to buy Canadian fertilizer giant Potash Corp. of Saskatchewan. The dividend hike came as the company reported a 71.5% rise in fiscal first-half net profit to $10.5 billion. From exploration and development through to the conversion and marketing of our products to customers, our structure reflects the value chain of our industry.
Blackbaud, Inc. (NASDAQ: BLKB) February 8, 2011, Charleston, South Carolina, declared a quarterly dividend of $0.12 per share, a 9% improvement over the $0.11 paid each of the last four quarters by the nonprofit-focused software and services firm.
The company also reported adjusted fourth quarter earnings of $0.27 per share on $86.96 million in revenue, matching Wall Street’s expectations for profit and edging its sales view ($86.82 million).
Blackbaud has now raised its dividend five times in the last six years, increasing its payout by a total of 140% over that span.
Blackbaud is the leading global provider of software and services designed specifically for nonprofit organizations, enabling them to improve operational efficiency, build strong relationships, and raise more money to support their missions.
Approximately 24,000 organizations – including University of Arizona Foundation, American Red Cross, Cancer Research UK, The Taft School, Lincoln Center, Tulsa Community Foundation, Ursinus College, Earthjustice, International Fund for Animal Welfare, and the WGBH Educational Foundation.
BP plc (NYSE: BP), February 1, 2011, London, United Kingdom, reported a fourth-quarter profit that was 30% higher than the same quarter last year. More importantly for dividend hounds, BP announced the resumption of its dividend payouts for the first time since early 2010.
BP’s board declared a quarterly dividend of 7 cents per share, and though that’s half of what it was paying out before it suspended dividends after the Gulf oil spill.
BP also announced its strategic agenda to deliver higher value for shareholders through increased investment in new access and long-term growth opportunities and more active portfolio management, which will underpin a return to a progressive dividend policy. Consistent with this agenda and aligned with changing trends in global demand, the company also announced plans to divest half of its US refining capacity.
Black Hills Corporation (NYSE: BKH) January 27, 2011, Rapid City, South Dakota. At a meeting held January 27, 2011, the board of directors approved the 41st consecutive annual increase in the company's dividend. The quarterly dividend was increased by $0.005 per common share to $0.365 per share, equivalent to an annual dividend rate of $1.46 per share. Shareholders of record at the close of business on Feb. 15, 2011, will receive $0.365 per share, payable on March 1, 2011.
"The dividend increase approved today exemplifies our commitment to our shareholders and continues our tradition of annual dividend growth for the 41st consecutive year," said David R. Emery, chairman, president and chief executive officer of Black Hills Corporation.
Black Hills Corporation is a diversified energy company is based in Rapid City, South Dakota with corporate offices in Denver, Colorado and Omaha, Nebraska. The company serves 763,300 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company's non-regulated businesses generate wholesale electricity, produce natural gas, oil and coal, and market energy. Black Hills' has 2,200 employees.
Buckeye Technologies Inc. (BKI) January 26, 2011, have soared to a 10-year high of $24.52 this morning, after the maker of cellulose-based specialty products wowed the Street with its latest earnings report.
More specifically, the firm said its fiscal second-quarter bottom line rose by more than expected – a trend Chairman and Chief Executive John B. Crowe said he expects to continue. Furthermore, the company's board increased its quarterly dividend by a penny to 5 cents per share, after paying its first ever dividend in September.
For more than 80 years, Buckeye Technologies Inc. has producing cellulose-based specialty products for niche markets worldwide. The company’s experience in polymer chemistry and fiber science, is combined with manufacturing practices and airlaid and wetlaid technologies.
Broadcom Corporation (NASDAQ: BRCM) February 1, 2011, Irvine, California, announced a 12.5% dividend increase and a $300 million accelerated stock buyback. Broadcom said that its board approved the increased dividend and increased stock buyback at its regular board meeting. The dividend is payable on March 7, 2011 to holders of recordof the company’s common and preferred shares at the close of business on February 18, 2011.
The company provides semiconductors for wired and wireless communications. Broadcom® products seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environments. It has a broad portfolio of state-of-the-art system-on-a-chip software applications.
California Water Service Group (NYSE: CWT) January 26, 2011 San Jose, California. At its meeting today, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 264th consecutive quarterly dividend, increasing the annual dividend from $1.19 to $1.23. This represents the company's 44th consecutive annual dividend increase. The quarterly dividend of $0.3075 per common share will be payable on February 18, 2011, to stockholders of record on February 7, 2011.
California Water Service Group is the parent company of California Water Service Company, Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company, Inc., CWS Utility Services, and HWS Utility Services. Together these companies provide regulated and non-regulated water service to nearly 2 million people in California, Washington, New Mexico, and Hawaii.
Cameco Corp (NYSE: CCJ) Saskatoon, Saskatchewan February 11, 2011, board of directors increased the dividend paid to shareholders. The record date is March 31, 2011 and the dividend is payable on April 15, 2011.
Cameco is one of the world's largest uranium producers, and in 2010 accounted for about 16% of the world's production. IT has controlling ownership of the world's largest high-grade reserves, with ore grades up to 100 times the world average, and low-cost operations.
The quarterly dividend was increased from 7 cents to 10 cents per share. Cameco attributed the gains to higher uranium prices and lower production costs.
Canadian National Railway (NYSE: CN) January 25, 2011 Montreal, Quebec, announced lower fourth quarter profit on Tuesday, though the company said it would be increasing its dividend by 20% and announced plans that they intend to buy back 3.6% of their stock for cancellation over the next year.
CN said that for the period ending Dec. 31, profit had decreased 14% to $503-million, from $582-million last year. However, the company’s profits were slightly up when excluding two special transactions last year — an after-tax gain from a line-sale to Metrolinx and a deferred income tax recovery. Profit for this quarter actually increased by 19% when excluding both those items from last year’s results, which left profit at $424-million.
Revenue for the period increased 12% to $2.12-billion on the back of strong volume growth on the company’s rail lines. Fourth quarter carloadings and revenue ton-miles grew by more than 10%.
CN said it ended the year on a positive note, with 2010 net income coming in at $1.97-billion, or $4.20 per dilluted share. That’s compared with a 2009 adjusted net income of $1.53-billion, or $3.24 a share.
CN announced that its aforementioned dividend increase — which would raise the quarterly dividend to 32.5¢ — will be paid on March 31 to shareholders of record as of March 10.
The company also said the buyback plan will begin on Jan. 28 and will be completed no later than Dec. 31, encompassing roughly 16.5 million of its common shares, CN said.
Capstead Mortgage Corporation (NYSE: CMO) March 15, 2011, Dallas, Texas, declared its quarterly dividend of 41 cents per share, an increase of about 5% over its prior dividend.
Capstead is a real estate investment trust and earns income primarily from investing in real estate-related assets on a leveraged basis. Capstead was formed in 1985. Capstead has two preferred stock issues which are also traded on the New York Stock Exchange, the $1.60 Cumulative Preferred Stock, Series A (ticker symbol CMOPRA) which is currently callable at $16.40 per share, and the $1.26 Cumulative Convertible Preferred Stock, Series B (ticker symbol CMOPRB) which is also currently callable at a price of $12.50 per share.
Cardinal Financial Corporation (NASDAQ: CFNL) January 26, 2011, Tysons Corner, Virginia.
Cardinal Financial Corporation announced that its board of directors has increased its quarterly cash dividend to $0.03 per share up from $0.02 per share. This dividend will be paid on February 25, 2011 to shareholders of record as of the close of business on February 10, 2011.
Cardinal a financial holding company headquartered in Tysons Corner, Virginia with assets of $2.07 billion at December 31, 2010, serves the Washington Metropolitan region through its wholly-owned subsidiary, Cardinal Bank, with 26 located banking offices. Cardinal also operates several other subsidiaries: George Mason Mortgage, LLC, and Cardinal First Mortgage, LLC, residential mortgage lending companies based in Fairfax, with six offices throughout the Washington Metropolitan region; Cardinal Trust and Investment Services, a trust division; Cardinal Wealth Services, Inc., a full-service brokerage company; and Wilson/Bennett Capital Management, Inc., an asset management company.
The Church & Dwight Co. Inc. (NYSE: CHD) February 8, 2011, Princeton, New Jersey. Speciality consumer products provider Church & Dwight Co., Inc. announced a 12 percent decline in fourth quarter net income, reflecting reduced net sales due to weak consumer demands and higher expenses, compared to the prior year. The company expects an increase in earnings for the fiscal 2011 and sees lowest first quarter organic sales growth.
Looking ahead to fiscal 2011, the company expects earnings per share to increase 10 percent to 11 percent, in a range of $4.35 to $4.40 per share, excluding pension settlement charges of $0.21 last year. Street expectation is $4.39 per share, with estimates in a range of $4.35 to $4.46 per share.
Organic sales growth for the first quarter is expected to be the lowest for the year, as a result of timing of new product launches and retailer inventory actions.
The company sees weak consumer demand, higher commodity cost and fierce competition for 2011 and plans to launch robust pipeline of new product innovations.
Further, the company said its board declared a 100 percent increase in quarterly dividend to $0.34, payable on March 1, 2011 to shareholders on record February 18.
CME Group (NASDAQ: CME). February 23, 2011, Chicago, Illinois. CME Group upped its quarterly dividend by 22%, to $1.40 per share. The new payout will be made on March 25 to shareholders of record as March 10. CME Group Inc. (CME) raised its quarterly dividend 22%, according to a release Wednesday.
CME, the world's largest derivatives exchange by contract volume, raised the dividend to $1.40 from $1.15, with the increase costing roughly $17 million each quarter.
In the fourth quarter, CME's profit unexpectedly fell despite a 17% increase in trading volume, while it predicted expenses would rise about 9.6% this year as it builds out new derivatives services and invests in other new projects. llllllll
Coca Cola Company (NYSE: KO) February 17, 2011, Atlanta, Georgia, increased its payout to 47 cents per share from the prior dividend of 44 cents. The dividend is payable Apr. 1 to shareholders of record as of March 15. The increase marks the 49th consecutive year the company has upped its dividend.
Colgate-Palmolive Company (NYSE: CL) Feb 24, 2011, New York, New York. Reflecting the company's positive outlook, the board of directors of Colgate-Palmolive Company has increased the ongoing quarterly common stock cash dividend by 9 percent.
In a release on February 24, the company noted that the increase will be effective as of the second quarter. The new rate of $.58 per share is up from $.53. The board declared that the second quarter dividend is to be paid on May 16, to shareholders of record as of April 26. On an annual basis, the new dividend rate is $2.27 vs. $2.03 per share previously. The company has paid uninterrupted dividends on its common stock since 1895.
Comcast Corporation (NASDAQ: CMCSA, CMCSK)February 16, 2011, Philadelphia, Pennsylvania aired a 19% increase in its quarterly dividend as a result of outstanding fourth-quarter results. The new quarterly cash dividend of 11.25 cents per share will be payable to shareholders of record as of April 6. The strong earnings report is Comcast’s first since it completed its purchase of a controlling stake in NBCUniversal from General Electric. Comcast declared an increase of 19 percent in its annual dividend to 45 cents per share from 37.8 cents. Comcast's profit increased to $1.02 billion, or 36 cents a share, from $955 million, or 33 cents a share, in the year-ago period. Adjusted earnings increased to 35 cents a share, from 29 cents a share. Revenue rose to $9.7 billion, from $9.1 billion.
Cisco Systems, Inc. (NASDAQ: CSCO) March 18, 2011,San Jose, California, declared its first dividend before the end of July 2011. Cisco designs and sells consumer electronics, networking, voice, and communications technology and services. Cisco has more than 70,000 employees and annual revenue of US$ 40.0 billion as of 2010.
Compass Minerals (NYSE: CMP) February 14, 2011, Kansas City, Missouri, announced in a release on Feb. 14 that its board of directors has increased the company's quarterly dividend by 15 percent to $0.45 per share effective with its dividend payable March 15, to shareholders of record as of the close of business on March 1.
"Compass Minerals has delivered on its commitment to create value for our shareholders since we became a public company in 2003, and our board has shared our success directly with our shareholders by increasing our quarterly dividend each year," said Angelo Brisimitzakis, Compass Minerals president and CEO. "In raising the dividend this year, the board noted the resilience of our company in delivering solid results, as well as the strong cash flow that enables us to combine a strong dividend with investment in our future through the persistent execution of our profitable growth strategy."
Based in the Kansas City metropolitan area, Compass Minerals is a producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide.
ConocoPhillips (NYSE: COP) February 11, 2011, Houston, Texas, announced that they have authorized both a $10 billion common stock buyback and a 20% boost in their quarterly dividend.
The $10 billion is in addition to the $5 billion that ConocoPhilips announced last March 24th. Currently, there is about $1 billion left under the buyback program. The company bought back $900 million last quarter, $400 million in Q210.
The company's dividend also increased by 20% from $0.55 to $0.66, or $2.64 annualized. The dividend is going to cost it about another $300 million per year.
Additionally, ConocoPhilips announced a new $13.5 billion capital program for 2011, of which 90% will support Exploration and Production (E&P) segment expenditures. An additional 9% will be allocated for Refining and Marketing (R&M). According to the release: "The 2011 capital program for Corporate and all other segments is approximately $0.3 billion, primarily for global information systems and corporate facilities."
Cooper Industries (NYSE: CBE) February 15, 2011, Houston, Texas, is an electrical products manufacturer and increased its shareholder payout, announcing an increased quarterly dividend of 29 cents per share over the current 27 cents per share. The new dividend will be paid on April 1 to shareholders of record as of February 28. In late January the company reported a 10% increase in fourth-quarter profits on increased revenue in both of its major segments.
Diebold (NYSE: DBD). February 16, 2011, Canton, Ohio, the makers of ATMs, security systems and a host of other self-service devices raised its first-quarter dividend to 28 cents per share, payable on March 7 to shareholders of record on February 21. The new dividend represents a 3.7% increase over the current payout. It was the company’s 58th consecutive annual increase.
Digital Realty Trust (NYSE: DLR) February 10, 2011, San Francisco, raised its quarterly dividend by 28.3%. Digital Realty Trust, a real estate investment trust, said late Thursday it will pay shareholders 68 cents per share at the next quarterly payday, citing its growth in taxable income and cash flow, and strong optimism about its future growth prospects. The higher dividend will be paid on March 31 to holders of record on March 15.
Digital Realty, also declared a preferred stock dividend. It will pay 34.375 cents per holder of the company's 5.5% Series D Cumulative Convertible Preferred Stock.
Digital Realty is a San Francisco-based REIT engaged in the business of owning, acquiring, developing, redeveloping and managing technology-related real estate. Digital Realty's primary property holdings are datacenters, digital storage facilities that are used by companies to maintain their Internet presence or beef up their data networks. Datacenters are expensive to build and maintain, and as such, supply is relatively inelastic.
Eaton Corporation (NYSE: ETN) January 27, 2011, Cleveland, Ohio, increased its dividend, split its stock and announced a 30% increase in its fourth-quarter earnings.
“Our fourth quarter results were very strong, substantially exceeding the high end of our guidance,” said Alexander M. Cutler, Eaton chairman and CEO, in announcing earnings of $1.63 per share for the fourth quarter of 2010.
Eaton's fourth quarter was the culmination of a year in which sales and profits both increased with a rebound in the global economy. Its full-year 2010 sales were $13.7 billion, up 16% from 2009. Net income was $929 million, or $5.46 per share in 2010, an increase of more than 140% from the previous year.
The improvements were broad based, stretching from automotive to aerospace and from hydraulic systems to electrical power management equipment, Eaton reported. According to Mr. Cutler, things only will improve this year, when Eaton expects to see its revenues grow by another 12%, beginning with a strong first quarter already under way.
Eaton's results will pay off quickly for shareholders. The company said its stock will split, two-for-one, on Feb. 28, affecting shareholders of record as of Feb. 7.
In addition, Eaton increased its quarterly dividend 17%, from 58 cents per share to 68 cents per share. The dividend is payable on Feb. 25 to shareholders of record on Feb. 7.
Emclaire Financial Corp. (NASDAQ: EMCF) February 16, 2011, Emlenton, Pennsylvania. The board of directors of Emclaire Financial Corp., the parent holding company of the Farmers National Bank of Emlenton, declared a quarterly cash dividend on February 16, 2011 of $0.16 per common share payable on March 18, 2011, to shareholders of record on March 1, 2011. The $0.16 per share quarterly dividend represents a 14.3% increase in quarterly dividends from the $0.14 per common share dividend rate declared and paid each quarter during 2010. This quarterly dividend reflects an annualized dividend yield of 3.6% based on the stock's closing price of $17.59 per share on February 15, 2011.
William C. Marsh, Chairman, President and Chief Executive Officer of the Corporation and the Bank, noted that the dividend increase reflects the Corporation's continued growth and strong financial performance in recent quarters.
Emclaire Financial Corp. is the parent company of the Farmers National Bank of Emlenton, an independent, nationally chartered, FDIC-insured community commercial bank headquartered in Emlenton, Pennsylvania, operating thirteen full service offices in Venango, Butler, Clarion, Clearfield, Crawford, Elk, Jefferson and Mercer Counties, Pennsylvania.
Energen Corporation (EGN) January 27, 2011, Birmingham, Alabama declared a quarterly dividend of $0.135 per share, a 3.85% increase over the $0.13 paid each of the last four quarters by the diversified energy company. This is the 29th consecutive year Energen has given its shareholders a raise.
Energen has boosted its quarterly payout by a half-penny to start each of the last five years, slowly diluting the effect of its dividend increases.
Energen Corporation is a growing oil and gas exploration and production company complemented by a small, single-state natural gas utility. During 2010, Energen capitalized on its financial strength and capital discipline by acquiring substantial Permian Basin assets and, in 2011, has embarked on a drilling program that could see its oil and natural gas liquids production increase more than 60 percent by year-end 2013.
As Energen’s regulated subsidiary, Alabama Gas Corporation (Alagasco) provides Energen with the strength and stability of a mature natural gas utility. Alagasco is the largest natural gas distributor in Alabama. It provides clean-burning, energy-efficient natural gas to more than 437,000 homes, businesses and industries and offers rebates for energy-efficient appliances.
Fiera Sceptre Inc. (TSX: FSZ) February 8, 2011, Montreal Quebec, an independent Canadian money management firm, today reported its financial results for the first quarter of 2011 which ended December 31, 2010 ("the first quarter").
The board of directors has decided to increase its quarterly dividend. Consequently, the board of directors has approved a dividend of $0.08 per share payable March 21st, 2011 to shareholders of record on February 21st, 2011. The dividend is an eligible dividend for income tax purposes.
Fiera Sceptre is a publicly traded, independent money manager.
Flushing Financial Corporation (NASDAQ: FFIC) March 15, 2011, Lake Success, New York, declared a dividend of 13 cents per share, payable on March 30, 2011 to shareholders of record on March 9, 2011.
Foot Locker, Inc. (NYSE: FL)Athletic footwear seller and familiar shopping mall tenant announced a higher quarterly dividend, raising its payout 10% to 16.5 cents per share. The new quarterly payment will be made on Apr. 29 to shareholders of record as of Apr. 15.
Fulton Financial Corporation (NASDAQ: :FULT) March 15, 2011, Lancaster, Pennsylvania, will pay a quarterly cash dividend of four cents per share on its common stock on April 15, 2011 to shareholders of record as of March 28, 2011. This amount is a one cent increase per share over the three cents per share paid in January of 2011.
Fulton Financial Corporation, a $16.3 billion Lancaster, Pa.-based financial holding company, has 3,850 employees and operates 271 branches in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through seven affiliate banks.
Gap, Inc. (NYSE: GPS). San Francisco, California. announced a new dividend that’s 13% higher than its current payout. The new dividend of 11.25 cents per share will be paid on or after Apr. 27 to shareholders of record on Apr. 6. The fresh payout came along with a stronger-than-expected surge in fourth-quarter profit, as well as a fiscal 2011 view that bested Wall Street estimates.
Gap Inc.’s board of directors approved an additional $2 billion share repurchase authorization and a plan to increase the annual dividend per share by 13 percent, from $0.40 in 2010 to $0.45 for fiscal year 2011. The first quarterly dividend of $0.1125 per share was declared for payment on or after April 27, 2011 to shareholders of record at the close of business on April 6, 2011. Additional quarterly dividends are expected to be paid in July, October and January.
GATX Corporation (NYSE: GMT) January 28, 2011, Chicago, Illinois, declared a quarterly dividend of $0.29 per common share, payable March 31, 2011, to shareholders of record on February 25, 2011. This quarterly dividend represents a 3.6% increase from the previous quarter.
“The increase announced today is supported by the continued improvement in our markets, and the confidence that the Board and management have in GATX’s long-term performance.”
“GATX’s record of paying uninterrupted quarterly dividends since 1919 is reflective of the Company’s commitment to our shareholders,” said Brian A. Kenney, chairman and chief executive officer of GATX Corporation. “The increase announced today is supported by the continued improvement in our markets, and the confidence that the Board and management have in GATX’s long-term performance.”
The board also declared a quarterly dividend of $0.625 per share on the $2.50 preferred stock, payable March 1, 2011, to shareholders of record on February 15, 2011, unchanged from the previous quarter.
GATX Corporation provides leasing and related services to customers operating rail, marine and other targeted assets. GATX is a leader in leasing transportation assets and controls one of the largest railcar fleets in the world. Applying over a century of operating experience and strong market and asset expertise, GATX provides quality assets and services to customers worldwide. GATX has been headquartered in Chicago, Illinois since its founding in 1898.
Gentex (NASDAQ: GNTX) February 21, 2011, Zeeland, Michigan, a manufacturer of automatic-dimming rearview mirrors and camera-based active-safety systems for the automotive industry, commercial fire protection products and dimmable aircraft windows, announced that its board of directors approved a nine percent increase in its quarterly cash dividend rate from $0.11 (eleven cents) to $0.12 (twelve cents) per share. The board subsequently declared a quarterly cash dividend of $0.12 per share that will be payable April 21, 2011, to shareholders of record of the common stock at the close of business on April 7, 2011.
"We originally established the cash dividend as a result of the reduced individual income tax rate on dividends," said Gentex Chairman of the Board and Chief Executive Officer Fred Bauer. "Our goal since then has been to have the dividend rate be meaningful, sustainable and increasing over time, generally in line with the Company's operating cash flow and net income.
"The company's strong financial performance in calendar year 2010, coupled with the continued favorable tax treatment of cash dividends, prompted this dividend rate increase," said Bauer.
"We are pleased with the two-year extension on the favorable tax treatment of cash dividends, and continue to believe that the cash dividend is an appropriate way to return cash to the company's shareholders based on the current U.S. tax laws," said Bauer.
Group 1 Automotive, Inc. (NYSE: GPI) February 17, 2011, Houson, Texas, an automotive retailer, announced that its board of directors declared a cash dividend of $0.11 per share for the fourth quarter of 2010. The dividend, which represents a 10 percent, or $0.01, increase per share from the third quarter, will be paid on March 15, 2011, to stockholders of record on March 1, 2011.
"The 10 percent dividend increase announced today demonstrates the confidence that the board of directors has in Group 1's financial strength," said Earl J. Hesterberg, Group 1's president and chief executive officer. "While we remain focused on growing the company, we are also pleased to be able to share some of the benefits of our improved operating results directly with our shareholders."
Group 1 owns and operates 100 automotive dealerships, 129 franchises, and 25 collision service centers in the United States and the United Kingdom that offer 30 brands of automobiles. Through its dealerships, the company sells new and used cars and light trucks; arranges related financing, vehicle service and insurance contracts; provides maintenance and repair services; and sells replacement parts.
Harte-Hanks, Inc. (NYSE: HHS) January 27, 2011, San Antonio, Texas, reported that its board of directors has declared a regular quarterly cash dividend of 8.0 cents per share payable on March 11, 2011, to the holders of record of shares of common stock of the company at the close of business on February 25, 2011. This represents a 6.7% increase in the regular quarterly dividend and is the company's fourteenth dividend increase since its 1993 public offering.
With the payment of this dividend, Harte-Hanks will have paid consecutive quarterly dividends since the first quarter of 1995.
Harte-Hanks® is a worldwide direct and targeted marketing company that provides multichannel direct and digital marketing services and shopper advertising opportunities to a wide range of local, regional, national and international consumer and business-to-business marketers. Harte-Hanks Direct Marketing helps its clients obtain insight about their customers through database and marketing analytics. Based on that insight Harte-Hanks Direct Marketing designs, implements and executes multichannel marketing programs on behalf of its clients using direct and digital communications. Harte-Hanks Shoppers is North America's largest owner, operator, and distributor of shopper products which bring buyers and sellers together at a local level though its proven multichannel offerings, including targeted print, digital advertising, and classifieds. Its print publications are zoned into more than 950 separate editions and reach 11.5 million addresses each week in California and Florida. Shoppers also provide advertisers with PowerSites™ to help small- and medium-size businesses establish a web presence and improve lead generation, PowerClick™ SEM services, and mobile distribution of their ads and coupons. For consumers, PennySaverUSA.com™ and TheFlyer.com™ offer local online and mobile classifieds for garage sales, pets, used and new cars, real estate, as well as thousands of coupons and business listings.
Hasbro Inc. (NASDAQ: HAS) February 6, 2011, Pawtuckett, Rhode Island, announced that the company is increasing its quarterly dividend by 20% to $.30 per share.
The dividend increase from Hasbro is just short of last year’s 25% dividend increase.
Brian Goldner, President and Chief Executive Officer commented on the dividend announcement, “Given our strong cash generation, healthy financial position and confidence in our ability to successfully execute our branded play strategy in 2011 and beyond, our Board of Directors has voted to increase the dividend for the second time in as many years. Our increased dividend, combined with our share repurchase program, reflects Hasbro’s ongoing commitment to returning capital to our shareholders.”
Hasbro has been one of the best dividend stocks over the past 3 years. The toy maker’s stock price has posted gains each of the past 3 years which is a claim that not too many stocks can make.
Health Care REIT, Inc. (NYSE: HCN) February 17, 2011, Toledo, Ohio said funds from operations, a common financial measure in the real estate investment trust industry, were $3.08 cents a share for the year, down 2 percent from a year earlier, and were 75 cents a share for the fourth quarter, flat from a year earlier.
The company said its board intends to increase the quarterly cash dividend rate by 3.6 percent during 2011, and plans to issue dividends in coming quarters, beginning in May, at a rate of 71.5 cents per share, or $2.86 a share over the coming year.
The company, which has touted its investments of $3.2 billion last year and $1.3 billion this year, reported its 2010 profit fell 38 percent to $107 million, or 83 cents a share, from $171 million, or $1.49 a share, for 2009. It said revenue rose 25 percent to $681 million, from $546 million a year earlier.
Health Care REIT said senior housing operations are a growing holding and it had achieved a record 93 percent occupancy rate for its medical office buildings.
For the fourth quarter, profit rose 8 percent to $34.3 million, or 25 cents a share, from $31.7 million, or 26 cents a share, for the year-earlier period. It had quarterly revenues of $202 million, up 43 percent from $141 million a year ago.
Healthcare Services Group, Inc. (NASDAQ: HCSG) February 7, 2011, Bensalem, Pennsylvania announced an increased quarterly dividend of 15.63 cents. The dividend is payable on March 4 to shareholders of record at the close of business February 11. The increase is 12% over the prior year dividend.
Healthcare Services Group, Inc. provides housekeeping, laundry, linen, facility maintenance and dietary services to the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States. The Company is a provider of its services to the long-term care industry in the United States, rendering such services to approximately 2,500 facilities in 47 states as of December 31, 2010. The Company provides its housekeeping services to approximately 2,500 facilities and provide dietary services to approximately 380 of such facilities. As of December 31, 2010, the Company operated one wholly owned subsidiary, Huntingdon Holdings, Inc. (Huntingdon). It operates in two business segments: housekeeping, laundry, linen and other services (Housekeeping), and dietary department services (Dietary).
Heartland Payment Systems Inc. (NYSE: HPY) Princeton, New Jersey, gained 3.91 percent or $0.68 to $18.08 as the company raised its quarterly dividend to 4 cents per share from its previous 1 cent.
Since its founding in 1997, Heartland has provided payment services to merchants and business owners. This strategy has resulted in the company's rapid rise from 62nd in the industry to its position today as the 5th largest payments processor in the United States by transaction volume, 8th largest by transaction dollar value and 9th in the world.
The Hershey Company (NYSE: HSY) reported a 7% profit increase during the fourth quarter, which it achieved on higher sales. The company raised its quarterly dividend by 2.5%. The new dividend, payable to shareholders of record on Mar. 15, will be 34.5 cents per share.
Home Depot, Inc. ( NYSE: HD) February 22, 2011, Atlanta, Georgia, announced its quarterly dividend of 25 cents per share, an increase of about 6% over its prior dividend.
Among dividend increases, Hubbell Incorporated (NYSE:HUB.B) announced its quarterly dividend of 38 cents per share, an increase of about 6% over its prior dividend in December of 36 cents.
Honeywell International (NYSE: HON) March 17, 2011, Morris Town, New Jersey. The diversified manufacturer lifted its quarterly dividend to 33.25 cents per share, a near 10% increase over the current payout. The new dividend is payable on March 10 to shareowners of record on Feb. 18. In January, the company reported better-than-expected Q4 earnings, and now has decided to follow up those numbers with a bigger dividend.
Independent Bank Corp. (NASDAQ: INDE) March 17, 2011, is a bank holding company. IT owns 100% interest in Rockland Trust Company. The bank is a community-oriented commercial bank and provides lending activities, acceptance of demand, savings, and time deposits, and wealth management. The company is the sponsor of Independent Capital Trust V (Trust V), Slade’s Ferry Statutory Trust I (Slade’s Ferry Trust I) and Benjamin Franklin Capital Trust I (Ben Franklin Trust I). The Bank’s loan portfolio amounted to $3.6 billion during the year ended December 31, 2010. The Bank classifies loans as commercial, consumer real estate, or other consumer. At December 31, 2010, there were $35.9 million in floor plan loans, all of which have variable rates of interest. At December 31, 2010, $183.4 million of the home equity portfolio were term loans and $395.9 million of the home equity portfolio was consisted of revolving lines of credit.
Independent Bank Corp.’s sole bank subsidiary, Rockland Trust Company, currently has $4.7 billion in assets. Rockland Trust Company is a full-service community bank serving southeastern Massachusetts, Cape Cod, and Rhode Island.
Infinity Property and Casualty Corporation (NASDAQ: IPCC) February 8, 2011, Birmingham, Alabama, announced today that it declared a quarterly dividend of $0.18 per share of Infinity Property and Casualty Common Stock. The annual rate of $0.72 per share represents a 28.6% increase over the dividend paid in 2010. The dividend is payable on March 25, 2011 to holders of record on March 11, 2011.
Infinity Property and Casualty Corporation is a national provider of personal automobile insurance with a concentration on nonstandard auto insurance. Its products are offered through a network of approximately 12,500 independent agencies and brokers. For more information about Infinity, please visit http://www.infinityauto.com.
Intel (NASDAQ: INTC).March 18, 2011, Santa Clara, California. Intel just announced a $10 billion dollar buyback plan and increased its dividend again. Intel increased its annual dividend to 72 cents per share which is an effective yield of 3.35%.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) February 4, 2011, Monett, Missouri, announced that its board of directors has increased the quarterly cash dividend by 11 percent to $.105 per share. The cash dividend on its common stock, par value $.01 per share, is payable on March 10, 2011, to stockholders of record as of February 22, 2011. At February 1, 2011, there were 86,572,527 shares of the common stock outstanding.
Jack Henry & Associates’ CFO, Kevin D. Williams, CFO stated, “This increase in our dividend is reflective of our ongoing commitment to generate a return on our stockholders’ investment. We established our dividend policy in 1990, and our dividend has increased every year since its inceptions. Our announcement of this dividend increase during our third fiscal quarter is consistent with previous years.”
Jack Henry & Associates, Inc. a provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking(TM) supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar(TM) is the leading provider of information processing solutions for credit unions of all sizes.
ProfitStars provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms.
J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) February 3, 2011, Lowell, Arkansas, announced today that its board of directors has approved an increase in the quarterly cash dividend on its common stock to $0.13 per common share, up from $0.12 per share. The dividend will be paid on February 25, 2011.
J.B. Hunt provides reliable transportation services to a diverse group of customers throughout the United States, Canada and Mexico. Its services are integrated and multimodal.
KMG Chemicals, Inc. (NASDAQ: KMGB), February 24, 2011, Houston, Texas, a global provider of specialty chemicals in carefully focused markets, today announced a 25% increase to its cash dividend, preliminary earnings expectations for the second quarter ended January 31, 2011, and the scheduling of its second quarter news release and conference call.
KMG´s board of directors has approved a 25% increase to the company´s cash dividend
KMG, through its subsidiaries, produces and distributes specialty chemicals to carefully focused markets. The company grows by acquiring and optimizing stable chemical product lines and businesses with established production processes. Its current operations are focused on the wood treatment, electronic, and agricultural chemical markets.
L3 Communications (NYSE: LLL) February 17, 2011, New York, New York. The aerospace and electronics systems maker said it would raise its quarterly dividend by 12.5% to 45 cents per share from 40 cents. The new quarterly payout will be made on March 15 to shareholders of record on March 1. The company recently reported strong earnings while also boosting its full-year profit outlook. In the defense sector generally, many of the biggest companies are staring at possible defense cuts in the soon-to-be-proposed 2011 federal budget.
Lake Shore Bancorp, Inc. (NASDAQ : LSBK) January 31, 2011, Dunkirk, New York, the holding company for Lake Shore Savings Bank (the “Bank”), today announced net income of $895,000, or $0.16 per diluted share, for fourth quarter 2010, an increase of 11.9% compared to net income of $800,000, or $0.14 per diluted share, for the prior year quarter. The company had net income of $3.04 million, or $0.53 per diluted share for 2010, an increase of 40.8% compared to net income of $2.16 million, or $0.37 per diluted share, for 2009.
The company’s board of directors approved a $0.07 cash dividend on Lake Shore Bancorp common stock, payable on February 22, 2011 to shareholders of record as of February 7, 2011, which is a 16.7% increase over the prior dividend payments of $0.06 per share. Lake Shore, MHC, which owns 61.1% of the Company’s outstanding common stock as of January 26, 2011 elected to waive its right to receive its share of this dividend.
Lake Shore Bancorp, a federally-chartered mid-tier stock holding company, is the parent company of Lake Shore Savings Bank, a community-oriented financial institution operating ten full-service branch locations in Western New York, offering a broad array of retail and commercial lending and deposit services.
Limited Brands (NYSE: LTD) January 28, 2011, upped its annual dividend to 80 cents per share from its previous 60 cents level. The stock is now yielding 2.76%. Limited Brands is the parent company of Victoria's Secret, Pink, La Senza, Bath & Body Works, C. O. Bigelow, The White Barn Candle Company, and Henri Bendel brands.
The company operates 2,662 specialty stores in the United States and its brands are sold in more than 700 company-operated and franchised additional locations world-wide.
Lorillard, Inc. (NYSE: LO) announced today that its board of directors approved a 16% increase in the quarterly dividend on its common stock from $1.125 per share to $1.30 per share.
The dividend is payable on March 11, 2011 to stockholders of record as of March 1, 2011. This cigarette maker is the nation’s third largest manufacturer, and announced a 16% increase in its quarterly dividend to $1.30 per share from $1.125 per share. The new payout will be made on March 11 to shareholders of record as of March 1. The increase marks the second such move by the tobacco seller in the past six months, and the third dividend increase since Lorillard became an independent publicly traded company in June 2008.
Main Street Capital Corporation (NYSE: MAIN) March 9, 2011, Houston, Texas, announced that its board of directors declared monthly dividends of $0.13 per share for each of April, May and June 2011.
These monthly dividends equate to a total of $0.39 per share for the second quarter of 2011. The second quarter 2011 dividends represent a 4.0% sequential increase from the dividends declared by Main Street for the first quarter of 2011 and also represent a 4.0% increase from the dividends declared for the second quarter of 2010. Including the dividends declared for the second quarter of 2011, Main Street will have paid $5.52 per share in cumulative dividends since its October 2007 initial public offering.
Mattel, Inc. (NASDAQ:MAT) February 2, 2011, El Segundo, California reported 2010 fourth quarter and full-year financial results. For the fourth quarter, the company reported net income of $325.2 million, or $0.89 per share, compared to last year’s fourth quarter net income of $328.4 million, or $0.89 per share. For the year, the company reported net income of $684.9 million, or $1.86 per share, compared to last year’s net income of $528.7 million, or $1.45 per share.
Additionally, the company announced today that its board of directors declared a first quarter cash dividend of $0.23 per share on the company's common stock. The dividend will be payable on March 11, 2011 to stockholders of record on February 24, 2011. The dividend is the first of four quarterly dividends the company expects to make this year, reflecting an annualized dividend of $0.92 per share, which represents an increase of $0.09, or 11 percent versus last year’s annual dividend of $0.83 per share.
Mattel, Inc. designs, manufactures and markets toys and family products. The Mattel family is comprised of such best-selling brands as Barbie®, the most popular fashion doll ever introduced, Hot Wheels®, Matchbox®, American Girl®, Radica® and Tyco R/C®, as well as Fisher-Price® brands, including Little People®, Power Wheels® and a wide array of entertainment-inspired toy lines. In 2011, With worldwide headquarters in El Segundo, California, Mattel employs approximately 31,000 people in 43 countries and territories and sells products in more than 150 nations.
Mayflower Bancorp, Inc. (NASDAQ: MFLR) February 23, 2011, Middleboro, Massachusetts, reported net income of $325,000 or $0.15 per share for its third quarter ended January 31, 2011 as compared to earnings of $316,000 or $0.15 per share for the same quarter last year. Diluted earnings per share for the third quarter were $0.15 compared to $0.15 for the third quarter of last year. In conjunction with these announcements, the company reported that the company's board of directors has declared a quarterly cash dividend of $0.06 per share to be payable on March 15, 2011, to shareholders of record as of March 8, 2011.
Mayflower Bancorp, Inc. is the holding company for Mayflower Co-operative Bank which specializes in residential and commercial lending and traditional banking and deposit services. The Company currently serves southeastern Massachusetts from its Main Office in Middleboro and maintains additional full-service offices in Bridgewater, Lakeville, Plymouth, Rochester, and Wareham Massachusetts. All of the Company's deposits are insured by the Federal Deposit Insurance Corporation (FDIC) to applicable limits. All amounts above those limits are insured in full by the Share Insurance Fund (SIF) of Massachusetts.
MOCON, Inc. (NASDAQ:MOCO) February 18, 2011, Minneapolis, Minnesota, announced that on February 17, 2011, its board of directors declared a quarterly cash dividend of ten cents ($0.10) per share, payable on May 20, 2011, to shareholders of record on May 6, 2011. This is a five percent increase over the previous rate of nine and one-half cents per share.
The company has provided stockholders with quarterly dividends for the 91st consecutive quarter. Prior to the present policy of quarterly dividends, the Company had been paying dividends on a semi-annual basis since 1984.
MOCON is a leading provider of detectors, instruments, systems and consulting services to research laboratories, production facilities, and quality control and safety departments in the medical, pharmaceutical, food and beverage, packaging, environmental, oil and gas and other industries worldwide.
NextEra Energy, Inc. (NASDAQ: NEE) February 18, 2011, Juno Beach, Florida, announced its quarterly dividend of 55 cents per share, an increase of about 10% over its prior dividend.
NextEra Energy, Inc is a clean energy company with 2010 revenues of more than $15 billion, nearly 43,000 megawatts of generating capacity, and approximately 15,000 employees in 28 states and Canada. Headquartered in Juno Beach, Fla., NextEra Energy’s principal subsidiaries are NextEra Energy Resources, LLC, which together with its affiliated entities is the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves approximately 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country. Through its subsidiaries, NextEra Energy collectively operates the third largest U.S. nuclear power generation fleet.
Nordstrom, Inc. (NYSE: JWN) February 23, 2011, Seattle, Washington, The department store operator increased its quarterly dividend by 15%. Nordstrom’s new dividend of 23 cents a share will be paid on March 15 to shareholders of record as of March 4. Since the company’s 2-for-1 stock split in June 2005, its quarterly payout has been raised five times.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 204 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 115 Nordstrom full-line stores, 86 Nordstrom Racks, two Jeffrey boutiques and one clearance store.
Norfolk Southern Corporation (NYSE: NSC) January 25, 2011, Norfolk, Virginia, announced that the company is increasing its quarterly dividend by 11% to $.40 per share.
This year's dividend increase is nearly double the 6% dividend increase from Norfolk Southern in 2010. The railroad stock has now paid dividends to investors for 114 consecutive quarters.
The increased dividend will be payable on March 10, 2011 to shareholders of record as of February 4, 2011.
Norfolk Southern Corporation is a leading North American transportation provider. Its Norfolk Southern Railway subsidiary operates approximately 20,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal and industrial products.
Northeast Utilities System (NU) February 9, 2011 has declared a quarterly dividend of $0.275 per share, a 7.3% improvement over its last four payments to shareholders. The public utility holding company has now increased its dividend for eleven consecutive years. Northeast Utilities has now increased its dividend by a total of 175% since reinstating its quarterly payout at the end of 1999. Last October, the company announced plans to merge with NSTAR (NST), a move which would only strengthen its future dividend growth prospects if it gains regulatory approval.
Occidental Petroleum (NYSE: OXY). February 11, 2011, Los Angeles, California, announced a 21% increase in its dividend. The new yearly payout will be $1.84 per share from the current $1.52 per share. The new 46 cent-per-share quarterly dividend will be payable April 15 to shareholders of record March 10. Occidental Petroleum (OXY) has increased the company's annual dividend 21 percent to an annual rate of $1.84 per share, compared to the previous annual rate of $1.52 per share.
The Occidental board announced in December its intention to increase the dividend. The $.46 per share quarterly dividend will be payable on April 15, 2011, to stockholders of record as of March 10, 2011.
Oxy has raised the dividend every year since 2002, raising it 268 percent over the period. The increase brings the company's compound annual dividend growth rate since 2002 to 15.6 percent. Oxy has paid quarterly dividends continuously since 1975.
Occidental Chairman and Chief Executive Officer Dr. Ray R. Irani said, "This dividend increase reflects the company's confidence in our financial and operational performance.
Occidental Petroleum Corporation is an international oil and gas exploration and production company. It is the fourth-largest in the U.S., based on market capitalization. Its OxyChem subsidiary is a major North American chemical manufacturer.
Oxy is an industry leader in applying advanced technology to boost production and access hard-to-reach reserves. Oxy has more than 30,000 employees and contractors.
Old Republic International Corporation (NYSE: ORI) February 24, 2011, Chicago, Illinois, declared a quarterly cash dividend on the common stock of 17.50 cents per share. This dividend is payable March 15, 2011, to shareholders of record on March 4, 2011. Subject to board approval of each quarter's new rate, the full year's cash dividend will amount to 70 cents per share compared to 69 cents paid in 2010.
This latest dividend increase marks the 30th consecutive year that Old Republic has boosted its cash dividend rate, and 2011 becomes the 30th year of uninterrupted cash dividend payments.
Chicago-based Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages, principally in the property and liability, mortgage guaranty and title insurance fields. One of the nation's 50 largest publicly owned insurance organizations, Old Republic has assets of approximately $15.8 billion and common shareholders' equity of nearly $4.1 billion or $16.16 per share. Its current stock market valuation is approximately $3.0 billion or $12.28 per share.
Owens & Minor, Inc. (NYSE: OMI) February 7, 2011, Richmond, Virginia declared a quarterly dividend of $0.20 per share, a 13% increase over prior payments of $0.177 per share. The medical supply distributor has now given shareholders a raise every year dating back to 1998.
Owens & Minor has achieved double-digit dividend growth in 13 of the 14 years during its dividend-raising streak, including seven year of 15% growth or more. The company has raised its dividend by a total of 567% since its streak began.
Most of O&M’s sales consist of consumable goods such as disposable gloves, dressings, endoscopic products, intravenous products, needles and syringes, sterile procedure trays, surgical products and gowns, urological products and wound closure products.
Parker-Hannifin Corp. (NYSE: PH). January 27, 2011, Cleveland, Ohio, increased its quarterly cash dividend to 32 cents per share, payable on March 4 to shareholders of record as of Feb. 10. The new dividend represents a 10% increase over the previous quarterly dividend of 29 cents per common share. Although Parker Hannifin’s profit margins in the most recent quarter fell, the company — seen as a barometer for the entire global industrial segment — still managed to dish out the cash to investors.
With annual sales exceeding $12 billion for fiscal year 2011, Parker Hannifin is a diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets.
The company's products are used in virtually everything that moves or requires control, including the manufacture and processing of raw materials, durable goods, infrastructure development and all forms of transport.
Patterson Companies, Inc. (NASDAQ: PDCO) March 16, 2011, St. Paul, Minnesota, said that its board of directors approved an increase in the dental and veterinarian products supplier's quarterly cash dividend and authorized a new share repurchase plan.
The dividend is being increased to 12 cents per share from 10 cents and is payable April 28 to shareholders at the close of business April 11.
A 25 million share repurchase plan will replace the existing authorization, under which about 4.5 million shares were available for repurchase. With the new plan, shares can be repurchased in open market transactions through March 15, 2016.
Patterson Companies, Inc. is a distributor serving the US dental, companion-pet veterinarian, and rehabilitation supply markets.
Polaris Industries Inc. (NYSE: PII) February 1, 2011 Medina, Minnesota announced that its board of directors has approved a 13% increase in the regular quarterly cash dividend, effective with the 2011 first quarter dividend. The first quarter dividend of $0.45 will be payable on February 15, 2011 to shareholders of record at the close of business on February 1, 2011.
Polaris Industries is a 50-plus-year-old company is a large makers of off-road recreational vehicles. Polaris makes all-terrain vehicles, snowmobiles, motorcycles and carts for recreation and other types of specialized motor transportation vehicles.
Potash Corporation of Saskatchewan Inc. January 26, 2011, Saskatoon, Saskatchewan announced that its board of directors has approved a three-for-one stock split of the company's outstanding common shares which will be payable in the form of a stock dividend. Subject to final regulatory approval, all shareholders will receive two additional shares for each share owned on the record date of February 16, 2011.
Additionally, the board of directors approved an increase of the company's quarterly cash dividend (from $0.10 per share to $0.21 per share on a pre-split basis), and declared a quarterly cash dividend of US $0.07 per common share (on a post-split basis) payable May 5, 2011 to shareholders of record on April 14, 2011.
Potash Corporation is the world’s largest fertilizer company by capacity, producing the three primary crop nutrients potash, phosphate and nitrogen . As the world’s leading potash producer, we are responsible for about 20 percent of global capacity.
With operations and business interests in seven countries, PotashCorp is an international enterprise and a key player in meeting the growing challenge of feeding the world.
Praxair, Inc., (NYSE: PX) January 26, 2011, Danbury, Connecticut. The board of directors of Praxair, Inc. has declared a quarterly dividend of 50 cents per share, an 11% increase from 45 cents per share in the previous quarter. The dividend is payable on March 15, 2011 to shareholders of record on March 7, 2011. This is the 18th consecutive annual dividend increase for Praxair.
“This increase reflects the board’s confidence in Praxair’s continuing ability to generate profitable growth in the global marketplace and through the economic cycles,” said Chairman and CEO Steve Angel.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2010 sales of $10 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. More information on Praxair is available on the Internet at www.praxair.com.
Ralph Lauren Corporation (NYSE: RL) The American fashion firm increased it dividend, as a new payout was announced along with fiscal Q3 earnings. The company’s new quarterly dividend will be 20 cents per share, double the current dividend of just 10 cents per share. The new payout will be paid on April 15 to shareholders of record as of April 1.
Ralph Lauren Corporation designs, markets and distributes premium lifestyle products in four categories: apparel, home, accessories and fragrances. For more than 44 years, the company has developed an expanding number of products, brands and international markets. The company's brand names, which include Polo by Ralph Lauren, Ralph Lauren Purple Label, Ralph Lauren Collection, Black Label, Blue Label, Lauren by Ralph Lauren, RRL, RLX, Rugby, Ralph Lauren Childrenswear, American Living, Chaps and Club Monaco.
Regis Corporation (NYSE: RGS) January 31, 2011, Edina, Minnesota, announced today that the company is raising their quarterly dividend by 50% to $.06 per share.
Paul D. Finkelstein, Regis Chairman and Chief Executive Officer commented in a statement, “The dividend increase reflects the ongoing confidence of management and the Board of Directors in Regis’ financial strength and future prospects. We are committed to enhancing shareholder value and we will consider additional increases to our dividend in future quarters.”
Regis Corporation is engaged in owning, operating and franchising hair and retail product salons. The company also owns Hair Club for Men and Women, a provider of hair restoration services. As of June 30, 2010, the company owned, franchised or held ownership interests in over 12,700 worldwide locations. The company's locations consisted of 9,929 company-owned and franchise salons, 95 hair restoration centers, and 2,704 locations, in which the company maintains an ownership interest of less than 100%. The company's hair restoration centers offer three hair restoration solutions: hair systems, hair transplants and hair therapy. The company is organized in two lines of business: salons and hair restoration centers.
Reliance Steel & Aluminum Co. (NYSE: RS) Los Angeles, California, increased its dividend by 20% moving the quarterly payout up to 12 cents per share from the previous 10 cents. The company also reported strong fourth-quarter profit. The new dividend is payable on March 25 to shareholders of record as of March 4. Increasing dividends is nothing new for this steel firm, as the company has upped its dividend 16 times since its 1994 IPO.
Reliance Steel & Aluminum Co. is a metals service center company in North America (United States and Canada). Reliance’s network of metals service centers operates more than 200 locations in 38 states, Belgium, Canada, China, Malaysia, Mexico, Singapore, South Korea and the United Kingdom. Through this network, the company provides metals processing services and distribute a line of more than 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products, to more than 125,000 customers in a range of industries. Many of its metals service centers process and distribute only specialty metals.
RenaissanceRe Holdings Ltd. (NYSE: RNR) February 26, 2011, Pembroke, Bermuda, board of directors voted to increase the company's quarterly dividend to $0.26 per common share on its common stock, from $0.25 per common share.
The company has increased its dividend during each of the sixteen years since its initial public offering. The dividend is payable on March 31, 2011 to shareholders of record on March 15, 2011.
In addition, the board of directors approved an increase in RenaissanceRe's stock repurchase program, bringing the total current authorization to $500 million. This authorization includes the remainder amounts available under prior authorizations. Under this program,
Headquartered in Bermuda, a global provider of reinsurance and insurance, in particular for catastrophe and specialty reinsurance.
Reynolds American Inc.(NYSE: RAI) February 16, 2011, Winston-Salem, North Carolina, announced an 8.2 percent increase in the quarterly cash dividend on the company's common stock to $0.53 per share from $0.49 per share. This action increases the annual dividend rate to $2.12 per share from $1.96 per share, bringing it in line with the 80 dividend payout target that the company announced in December. Cigarette maker Reynolds American which makes such brands as Camel, Kool, Winston and Salem, authorized an increased dividend of 8%. The new quarterly payout of 53 cents per share will be payable April 1 to shareholders of record on March 10.
Rio Tinto Plc (NYSE: RIO) February 10, 2011 London, United Kingdom, declared a final dividend of 63 cents, lifting its total dividends for 2010 to $1.08 per share.
Rio Tinto delivers record underlying earnings of $14 billion and announces $5 billion capital management programme together with 20 per cent increase in dividend.
Rio Tinto is an international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
Rogers Communication Inc. (NYSE: RCI) raised its quarterly dividend to 35.5 Canadian cents per share from 32 Canadian cents. Shares of the company were down 0.65 percent or $0.23 to $34.97.
Rollins, Inc. (ROL) January 25, 2011 declared a quarterly dividend of $0.07 per share today, a 16.7% increase over the $0.06 paid each of the last four quarters by the pest control company. This is the ninth consecutive year Rollins has given its shareholders a substantial raise.
Shares of ROL closed at $19.30 today, where they now carry a 1.45% dividend yield.
Rollins has increased its dividend by at least 12% every year since 2003, boosting its rate by a total of 215% over that span.
Ross Stores (NASDAQ: ROST) February 6, 2011, Pleasanton, California announced recently that the company is increasing their quarterly dividend by 38% to $.22 per share.
This announcement marks the 17th consecutive year that Ross Stores has increased their dividend. This dividend increase will raise Ross Stores current dividend yield from 1.0% to 1.3%.
In addition, the company announced a $900 million stock repurchase program over the next two years. At current prices that repurchase would represent about 12% of Ross Stores total outstanding shares.
Michael Balmuth, Vice Chairman and Chief Executive officer commented, “Our larger two-year $900 million stock repurchase authorization and substantial increase in the quarterly cash dividend demonstrate our confidence in the Company’s ongoing ability to generate significant amounts of excess cash after self funding the capital needs of our business. We have repurchased stock as planned every year since 1993 and have also raised our quarterly cash dividend annually since 1994. This consistent record of returning excess cash reflects our unwavering commitment to enhancing stockholder value and returns.”
The increased dividend from Ross Stores will be paid on March 31, 2011 to shareholders of record as of February 18, 2011.
Russel Metals Inc. (TSX:RUS) February 17, 2011, Toronto, Ontario announced that it has declared a dividend in the amount of Cdn$0.275 per share on its common shares, an increase of 10% over the prior rate. The dividend is payable on March 15, 2011 to shareholders of record at the close of business on February 28, 2011.
Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy tubular products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier Richler, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Spartan Steel Products, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.
Sandy Spring Bancorp, Inc. (NASDAQ: SASR) January 27, 2011, Olney, Maryland, the parent company of Sandy Spring Bank, has reported that the board of directors has declared a common stock dividend of $0.08 per share, payable February 16, 2011 to shareholders of record on February 9, 2011.
In addition, the company reported net income available to common stockholders for the fourth quarter 2010 of $6.6 million, compared to a net loss available to common stockholders of $4.4 million for the fourth quarter of 2009 and net income of $6.4 million for the third quarter of 2010.
The net income available to common stockholders for the year ended December 31, 2010 totaled $17.4 million, compared to a net loss available to common stockholders of $19.7 million for the prior year. The results included a provision for loan and lease losses totaling $25.9 million for the year ended December 31, 2010 compared to a provision for loan and lease losses of $76.8 million for the year ended December 31, 2009.
The net interest margin was 3.61 percent for the fourth quarter of 2010 compared to 3.40 percent for the fourth quarter of 2009 and 3.64 percent for the third quarter of 2010. For the year, the net interest margin increased to 3.60 percent compared to 3.29 percent for 2009.
SCANA Corporation (NYSE: SCG) February 11, 2011 Cayce, South Carolina, announced that its board of directors, at a meeting held today, raised the quarterly cash dividend on the Company’s common stock to 48 ½ cents per share from 47 ½ cents per share, an increase of 2.1 percent. This action increases the indicated annual dividend rate to $1.94 per share from $1.90 per share. The new dividend is payable April 1, 2011 to shareholders of record at the close of business on March 10, 2011.
“Despite a challenging economic environment in 2010, SCANA achieved its earnings targets and completed another successful year. The results of 2010 and confidence in the long-term growth of our company led the board to decide that a dividend increase was appropriate”
“Despite a challenging economic environment in 2010, SCANA achieved its earnings targets and completed another successful year. The results of 2010 and confidence in the long-term growth of our company led the board to decide that a dividend increase was appropriate,” said Jimmy Addison, Senior Vice President and Chief Financial Officer.
SCANA Corporation, a Fortune 500 company headquartered in Cayce, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. Information about SCANA is available on the Company’s website at www.scana.com.
Sempra Energy (NYSE: SRE) February 22, 2011, San Diego declared its quarterly dividend of 48 cents per share, an increase of about 23% over its prior dividend. The power plant operator will make the increased payment of 48 cents per share on April 15 to shareholders of record on March 18. The increase came along with a 14% rise in full-year, 2010 profit.
Sempra Energy is an energy services holding company with 2010 revenues of $9 billion. The Sempra Energy companies’ 17,500 employees serve more than 31 million consumers worldwide.
Service Corporation International (NYSE: SCI) February 9, 2011, Houston, Texas, the largest provider of deathcare products and services in North America, today announced that its board of directors has approved a quarterly cash dividend of five cents per share of common stock. The quarterly cash dividend declared today represents a 25% increase from previously declared dividends of four cents per share of common stock per quarter. The quarterly cash dividend announced today is payable on April 29, 2011 to shareholders of record at the close of business on April 15, 2011.
Sherwin-Williams Co. (NYSE: SHW) February 18, 2011, Cleveland, Ohio raised its quarterly dividend to 36.5 cents per share from 36 cents. The new dividend will be paid on March 11 to shareholders of record on Feb. 25. Last month, Sherwin-Williams touched up its fiscal performance with better-than-expected fourth-quarter profit due to a combination of strong sales and higher paint prices.
SJW Corporation (NYSE: SJW) January 26, 2011, San Jose, California announces that the board of directors approved a $0.01 per share increase in the annual dividend to $0.69 per share. A quarterly dividend of $0.1725 per share is payable on March 1, 2011 to shareholders of record at the close of business on February 7, 2011.
SJW Corporation is a publicly traded holding company headquartered in San Jose, California. SJW Corp. is the parent company of San Jose Water Company, SJWTX, Inc., Texas Water Alliance Limited, and SJW Land Company. Together, San Jose Water Company and SJWTX, Inc. provide regulated and nonregulated water service to more than one million people in San Jose, California and nearby communities and in Canyon Lake, Texas and nearby communities. SJW Land Company owns and operates commercial real estate investments.
Southwest Gas Corporation (NYSE: SWX) February 24, 2011, Las Vegas, Nevada increased the quarterly common stock dividend from $.25 per share to $.265 per share and has declared the following second quarter cash dividend, payable June 1, 2011 with a record date of May 16, 2011.
The dividend equates to $1.06 per share, a six cent or six percent increase, on an annualized basis. The company has paid quarterly dividends continuously since going public in 1956, and has raised its dividend in each of the past five years. Chief Executive Officer Jeffrey Shaw noted, "We are pleased with the improved stability of our revenues and cash flows, and our stronger capital structure. These factors, combined with the company's improved operating performance have positioned us to be able to again increase the dividend. Dividend increases are necessary to facilitate competitive and reasonable returns for our shareholders."
Southwest Gas Corporation provides natural gas service to approximately 1.8 million customers in Arizona, Nevada, and California.
Stanley Black & Decker (NYSE: SWK) February 15, 2011, New Britain, Connecticut, announced that its Board of Directors approved a 21% increase of its quarterly cash dividend to $0.41 per common share. This marks the 44th consecutive annual dividend increase for the company. The dividend is payable on Tuesday, March 22, 2011 to shareholders of record as of the close of business on Wednesday, March 2, 2011.
John F. Lundgren, President and Chief Executive Officer, stated, “This substantial dividend increase, five months earlier in the calendar year than our historical practice, reflects our confidence in the cash generation potential of the company. Dividend growth is an important element of our shareholder value proposition and we are pleased to be able to announce an increase of this magnitude.”
Stanley Black & Decker is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, engineered fastening systems, and more.
STMicroelectronics (NYSE:STM) March 14, 2011 Geneva, Switzerland, reported that its supervisory board has approved the management proposal to submit to the 2011 annual general meeting of shareholders the distribution of an annual cash dividend of USD0.40 per outstanding share of common stock. This dividend represents an increase from the annual dividend of USD 0.28 per share declared last year.
Following shareholder approval the new dividend will be paid in four equal quarterly installments, in May, August and December 2011 and February 2012, to shareholders of record in the month of each quarterly payment.
Teche Holding Company (,NYSE AMEX: TSH) February 25, 2011, New Iberia, Louisiana declared a quarterly dividend of $0.36 per share of its common stock.
The dividend is 1.4% higher than the rate of $0.355 per common share this time last year. This represents a quarterly payout ratio of 41.4% based on diluted earnings per share for the quarter ended December 31, 2010. The effective dividend yield amounts to 3.92% based on the stock price on the close of business on February 24, 2011. The dividend will be paid on March 31, 2011 to shareholders of record as of the close of business on March 17, 2011. The company has paid a cash dividend for 63 consecutive quarters.
Teche Federal presently operates nineteen offices in the Louisiana parishes of St. Mary, Iberia, Lafayette, St. Martin, Terrebonne, Lafourche, St. Landry and East Baton Rouge.
TECO Energy, Inc. (NYSE: TE) February 24, 2011, Tampa, Florida announced at its regularly scheduled meeting that the board of directors set a 2011 dividend rate of $0.85 per share, up 3.7% from the current $0.82 per share. Subject to quarterly Board declarations, a quarterly dividend of $0.215 per share will be payable for the remaining three quarters of 2011. Concurrent with setting the 2011 dividend rate, the board of directors set a dividend policy that targets a payout ratio in a range between 60% and 70% of consolidated TECO Energy earnings per share, excluding charges or gains.
TECO Energy President and Chief Executive Officer John Ramil said, “Our 2011 dividend payment marks 87 consecutive years of cash dividends to our shareholders. We believe that the policy set by the Board demonstrates our commitment to providing strong total shareholder returns, and our long-term ability to grow earnings. We’ve told investors that our goal was to return to a pattern of sustainable dividend growth, and today’s announcement supports that. The change in our annual dividend policy review schedule will better align our dividend decisions with our providing of annual earnings guidance.”
TECO Energy, Inc. is an energy-related holding company. Its principal subsidiary, Tampa Electric Company, is a regulated utility in Florida with both electric and gas divisions (Tampa Electric and Peoples Gas System). Other subsidiaries include TECO Coal, which owns and operates coal production facilities in Kentucky and Virginia, and TECO Guatemala, which is engaged in electric power generation and energy-related businesses in Guatemala.
Temple-Inland Inc. (NYSE: TIN) February 4, 2011, Austin, Texas raised its quarterly dividend 18%, becoming the latest company to boost its dividend as the economy has improved.
The containerboard company boosted its quarterly dividend to 13 cents a share from 11 cents. The increase will cost an additional $8.8 million a year.
Chairman and Chief Executive Doyle R. Simons said the increase reflects the company's confidence to "generate cash flow and our commitment to return cash to shareholders." Simons said the company last year raised its dividend 10%.
The popularity of dividends has increased alongside share buybacks as companies seek ways to appeal to investors and tap huge cash piles they built in response to the recession.
In October, the company reported its third-quarter profit surged 87%, in part on a hefty tax gain, as results excluding one-time items exceeded analysts' expectations. Temple-Inland expects to report its fourth-quarter results on Tuesday.
Textainer Group Holdings Limited (NYSE: TGH) February 8, 2011, Century House, Bermuda the world’s largest lessor of intermodal containers based on fleet size, reported results for the fourth quarter and full year ended December 31, 2010.
Headquartered in Century House on Par-la-ville Road, Textainer has operated since 1979. The company has a total of 1.5 million containers, representing about 2.3 million twenty-foot equivalent units (TEU), in its owned and managed fleet. Textainer leases containers to more than 400 shipping lines and other lessees.
It is also one of the largest purchasers of new containers among container lessors over the last 10 years and one of the largest sellers of used containers, having sold more than 77,000 containers last year to more than 1,100 customers.
Total revenue for the fourth quarter 2010 was $84.0 million, which was an increase of $16.7 million, or 25%, compared to $67.3 million for the prior year quarter.
On February 8, 2011, Textainer’s board of directors approved and declared a quarterly cash dividend of $0.29 per share on Textainer’s issued and outstanding common shares, payable on March 1, 2011 to shareholders of record as of February 22, 2011. This dividend is an increase of $0.02 per share from the prior quarter and will be the fourteenth consecutive quarterly dividend since Textainer’s October 2007 initial public offering. Combined, these dividends have averaged 46% of net income attributable to Textainer Group Holdings Limited common shareholders excluding unrealized (gains) losses on interest rate swaps, net(1) during this period. The current dividend represents 40% of net income attributable to Textainer Group Holdings Limited common shareholders excluding unrealized (gains) losses on interest rate swaps, net(1) for the fourth quarter and the last four quarterly dividends declared represent 41% of net income attributable to Textainer Group Holdings Limited common shareholders excluding unrealized (gains) losses on interest rate swaps, net(1) for the year ended December 31, 2010.
Thomson Reuters Corporation (NYSE: TRI) January 20, 2011, New York, New York, reported an increase of 8 cents in its annual dividend to $1.24 a share.
Thomson Reuters is a source of information for businesses and professionals. Its publications are in the fields of news finance, law, tax and accounting, healthcare and science and media markets.. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs 55,000 people and operates in over 100 countries.
Time Warner Cable Inc. (NYSE: TWC) January 27, 2011, New York, New York, raised its quarterly payout, by 20 percent to $0.48 per share - $1.92 per share on an annualized basis. The quarterly dividend is payable in cash on March 15, 2011 to stockholders of record at the close of business on February 28, 2011.
Time Warner Cable Chief Executive Officer Glenn Britt said: "This increase, following the initiation of our share repurchase program in the fourth quarter, is yet another signal of our confidence in our business and reinforces our focus on returning capital to our shareholders, while continuing to invest in the long-term growth of our business."
Time Warner Cable is the second-largest cable operator in the U.S., with technologically well-clustered systems located mainly in five geographic areas -- New York State (including New York City), the Carolinas, Ohio, Southern California (including Los Angeles) and Texas. Time Warner Cable serves more than 14 million customers who subscribe to one or more of its video, high-speed data and voice services. Time Warner Cable Business Class offers a suite of phone, Internet, Ethernet and cable television services to businesses of all sizes. Time Warner Cable Media, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions that are targeted and affordable.
Time Warner Inc. (NYSE: TWX) saw better-than-expected earnings during the fourth quarter, and that prompted the company to forecast strong 2011 earnings. It also allowed executives to announce an 11% hike in the quarterly dividend. The new dividend will be 23.5 cents per share, which will be payable on March 15 to stockholders of record as of February 28, 2011.
T. Rowe Price Group, Inc.’s (NASDAQ: TROW) Baltimore, Maryland, board of directors approved a 15.0% hike in the company’s quarterly common stock dividend on Thursday. The revised quarterly dividend now stands at 31 cents per share compared with the previous amount of 27 cents. The revised dividend will be payable on March 29, to shareholders as of the close of business on March 15.
This marks T. Rowe’s 25th consecutive annual dividend increase, reflecting the company’s commitment to return value to shareholders with its strong cash generation capabilities. Prior to this revision, the company increased its dividend by 8% (from 25 cents to 27 cents per share) in February 2010.
Based in Baltimore, T. Rowe Price is a global investment management organization with $482.0 billion in assets under management (AUM) as of December 31, 2010. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans and financial intermediaries. The company also offers refined investment planning and guidance tools.
UDR (NYSE: UDR_), December 15, 2010, Highlands Ranch, Colorado, formerly United Dominion Realty Trust, Inc., operates as a self-administered equity real estate investment trust (REIT). It owns, acquires, renovates, develops, and manages middle-market apartment communities. a REIT involved with owning and developing apartment communities across the U.S., recently raised its dividend by 10% to 80 cents per share.
United Parcel Service (NYSE: UPS) February 3, 2011, Atlanta, Georgia announced that the company is increasing its quarterly dividend by 11% to $.52 per share.
The logistics stock has been a consistent dividend payer over the last four decades. Over that time UPS has either increased or maintained their dividend every single year. Last year the company delivered a more modest 4% dividend increase to investors.
UPS CFO Kurt Kuehn had commented in December that UPS would use their cash flow to boost their dividend rather than focus on acquisitions.
UPS Chairman and CEO Scott Davis stated, "We believe that 2011 is going to be a great year for UPS and we're committed to significantly increasing distributions to shareowners. Cash flow is expected to be strong and clearly today's decision by the board reflects that projection."
The increased dividend will be payable on March 2, 2011 to shareholders of record as of February 14, 2011.
Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) February 17, 2011, Greenwich, Connecticut approved an increase in the quarterly dividends on the company´s Class A Common Stock and Common Stock. The dividends were declared in the amounts of $0.245 for each share of Class A Common Stock and $0.2225 for each share of common stock.
Urstadt Biddle Properties Inc. is a Real Estate Investment Trust (“REIT”) founded in 1969, whose primary investments are grocery-anchored shopping centers in the New York Metropolitan area. We were formerly known as HRE Properties and our name was changed in 1996 to our present name to recognize the major shareholders and leadership of the Company and reduce confusion in the market. We own over 50 properties comprising over 4.6 million square feet of gross leasable area.
Validus Holdings Ltd. (NYSE: VR) February 9, 2011, Hamilton, Bermuda announced today that its board of directors has increased its quarterly dividend to $0.25 per common share and $0.25 per common share equivalent for which each outstanding warrant is exercisable. The dividend is payable on March 31, 2011 to shareholders and warrant holders of record on March 15, 2011.
This $0.25 per common share quarterly dividend is a 13.6% increase over the prior quarterly dividend of $0.22 per common share.
Validus Holdings, Ltd. is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. (“Validus Re”) and Talbot Holdings Ltd. (“Talbot”). Validus Re is a Bermuda based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd’s insurance market through Syndicate 1183.
Vornado Realty Trust (NYSE: VNO) January 12, 2011 Paramus, New Jersey raised its dividend by 4 cents to 69 cents per share. The trust announced that its board of trustees has declared an increased quarterly cash dividend of $.69 per share (a new indicated annual rate of $2.76). The former annual rate was $2.60 per share. The increased dividend will be payable on February 22, 2011 to shareholders of record on January 28, 2011.
Washington Trust Bancorp, Inc., (NASDAQ: WASH), Westerly, Rhode Island declared a quarterly dividend of 22 cents per share for the quarter ending March 31, 2011. This is an increase of one cent per share over the most recent dividend rate. The dividend will be paid on April 14, 2011 to shareholders of record on March 31, 2011.
Washington Trust Bancorp, Inc. is the parent of The Washington Trust Company, a state-chartered bank headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is the oldest community bank in the nation and is the largest independent bank headquartered in Rhode Island. Washington Trust offers a full range of financial services, including commercial banking, small business banking, personal banking, and wealth management and trust services through its offices located in Rhode Island, southeastern Connecticut and eastern Massachusetts.
Waste Management, Inc. (NYSE:WM) February 17, 2011, Houston, Texas announced that its board of directors has approved an 8% increase in the planned quarterly dividend rate, from $0.315 to $0.34 per share. This marks the seventh consecutive year that the company has increased its dividend.
Waste Management, Inc. is a provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is the largest residential recycler and also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The company's customers include residential, commercial, industrial, and municipal customers throughout North America.
Weingarten Realty Investors (NYSE: WRI) Houston, Texas, announced that the board of trust managers increased the common dividend 5.8% to $0.275 per quarter or $1.10 annually.
Weingarten Realty Investors is a commercial real estate owner, manager and developer. At December 31, 2010, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 383 developed income-producing properties and 9 properties under various stages of construction and development. The total number of properties includes 312 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. The Company also owns 77 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas. At December 31, 2010, the Company’s portfolio of properties was approximately 71.5 million square feet..
Wellpoint Inc.(NYSE: WLP) February 26, 2011 Indianapolis, Indiana voted its first dividend. The dividend was set by the board at twenty-five cents per share. Wellpoint is the nation’s largest health insurer based on the number of enrollees.
WesBanco, Inc. (Nasdaq: WSBC) February 24, 2011, Wheeling, West Virginia announced an increase in the quarterly cash dividend rate to be paid to its shareholders to $0.15 per common share from the previous quarterly dividend rate of $0.14 per common share, or a 7.1% increase. The increased dividend will be payable on April 1, 2011 to shareholders of record on March 11, 2011.
The WesBanco board of directors approved this most recent cash dividend increase based in part on the company's recent strong earnings achievements, as well as WesBanco's strong capital position. The cash dividend increase represents an annualized cash dividend of $0.60 per common share.
WesBanco, Inc. is a multi-state bank holding company of $5.4 billion in total assets providing banking services through 112 locations and 132 ATMs in West Virginia, Ohio and Pennsylvania. WesBanco's banking subsidiary is WesBanco Bank, Inc., headquartered in Wheeling, West Virginia. WesBanco also operates an insurance brokerage company, WesBanco Insurance Services, Inc., and a full service broker/dealer, WesBanco Securities.
The Westar Energy, Inc. (NYSE: WR) February 26, 2011, Topeka, Kansas board of directors declared a quarterly dividend of 32 cents per share payable April 1, 2011 on the company's common stock. The new dividend is 3 percent higher than the company's previous quarterly dividend of 31 cents per share, and results in an indicated annual rate of $1.28 per share.
"We appreciate that investors look to dividends as a significant part of the return they can expect from investing in Westar. The dividend increase approved today continues a long history of returning increasing value to shareholders," said Bill Moore, president and chief executive officer. "The board remains committed to providing a competitive return to our shareholders, through both dividends and a growing business."
The board also declared regular quarterly dividends on the company's 4.25 percent, 4.5 percent and 5 percent series preferred stocks payable April 1, 2011.
The dividends are payable to shareholders of record as of March 9, 2011.
West Fraser Timber Co. Ltd. (Toronto:WFT.TO) February 17, 2011, Vancouver, British Columbia reported earnings after discontinued operations of $39 million or $0.89 per share on sales of $719 million in the fourth quarter of 2010 and earnings after discontinued operations of $166 million or $3.84 per share, on sales of $2,886 million for 2010.
The board of directors of the company has declared a dividend of $0.14 per share on the common shares and the Class B common shares in the capital of the company, payable on April 1, 2011 to shareholders of record on March 18, 2011.
"Markets are still somewhat uneven, reflecting the fragile nature of the recovery. However, our mills ran well despite some challenging weather conditions and we are generally pleased with the results." said Hank Ketcham, the Company's Chairman, President and CEO.
Although 2010 results represented a significant improvement to those achieved in 2009, the absence of a meaningful recovery of the U.S. housing market and continuing threats to global economic recovery leads to a cautious outlook for 2011. SPF lumber and pulp prices are likely to be positively influenced by continuing strong demand from Asia while SYP lumber and panel markets will continue to struggle until a turnaround in U.S. housing occurs. Although many analysts expect some improvement in U.S. housing there are a number of factors, notably high rates of foreclosures and significant shadow inventories, that could undermine any meaningful recovery.
"Despite some market uncertainties, we are well positioned to benefit from the eventual recovery. Our low-cost, highly-efficient facilities allow us to operate at high rates and generate value for our shareholders throughout the recovery cycle." said Hank Ketcham.
West Fraser is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint. The Company has operations in western Canada and the southern United States.
Westwood Holdings Group, Inc. (NYSE: WHG) February 3, 2011, Dallas, Texas
Westwood reported 2010 fourth quarter revenues οf $ 15.4 million, net income οf $ 3.3 million and earnings per diluted share οf $ 0.46. Tһіѕ compares tο revenues οf $ 12.7 million, net income οf $ 2.7 million and earnings per diluted share οf $ 0.38 іn the fourth quarter οf 2009.
Wolverine World Wide, Inc. (NYSE: WWW), February 11, 2011 one of the leading designers, manufacturers and marketers of branded footwear and apparel, is set to employ its free cash to boost shareholders’ return, thus enhancing investor confidence on the stock.
The company raised its quarterly dividend by approximately 9.1% to 12 cents from 11 cents per share. The increased dividend will be paid on May 2, 2011 to shareholders of record as of April 01, 2011, marking the company's first dividend enhancement from 2008.
Dividend increase reflects the company’s sturdy financial position and well-defined future prospects. Further, this strategy enhances shareholders’ return and lifts the market value of the stock.
The company’s continuous focus on inventory management, cost control and merchandise inventiveness kept it afloat in a droopy retail environment. Further, the company’s multi-brand portfolio, geographical diversification, and multi-distribution channel strategy remain its key growth drivers.
Prior to it, the company announced healthy fourth-quarter earnings of 52 cents a share, outpacing the Zacks Consensus Estimate of 46 cents and grew 15.6% from 45 cents in the prior-year quarter.
Wolverine, the seller of products under Harley-Davidson Footwear, Hush Puppies, Merrell and other brands, stated its total revenue for the quarter climbed 23.2% to $385 million from the prior-year quarter, handily beating the Zacks Consensus Estimate of $356 million.
By operating groups, year-over-year revenue increased 22.3% to $134.9 million at Outdoor Group, 27.6% to $97.9 million at Wolverine Footwear Group, 25.8% to $65.1 million at Heritage Brands Group and 16.4% to $38.9 million at Hush Puppies Group. Other business units, which comprise Wolverine retail and leathers, posted a revenue growth of 17.9% to reach $44.1 million.
Gross profit for the quarter jumped 16.3% to $142.7 million, whereas gross margin contracted 220 basis points to 37.1%, reflecting a rise in product costs.
Based in Rockford, Michigan, Wolverine enjoyed increased momentum in fiscal 2010, which is expected to continue till fiscal 2011. Moreover, we believe that the company remains well positioned to increase its market share on the strength of its brand portfolio. The Merrell brand has been the key growth driver for the past decade, and we expect it to catalyze future growth.
Woodward Governor Co. (Nasdaq: WGOV) January 28, 2011, Fort Collins, Colorado announced that its stockholders voted on January 26 to approve changing the firm's name to simply Woodward Inc. The name change is expected to become effective Jan. 31 with a new Nasdaq trading symbol of WWD.
The Fort Collins-based company made the name change to better reflect its current business activities, moving from the manufacture of governors to energy-control systems.
"We are excited about our new company name, as it respects our heritage and represents our future in energy control and optimization solutions," said Thomas Gendron, Woodward's chairman and CEO.
The company also announced the board approved a 17 percent dividend increase from $0.06 per share to $0.07 per share payable on March 1 to stockholders of record on Feb. 16.
"We are confident in Woodward's ability to consistently deliver strong cash flows through all phases of the economic cycle, allowing for continued investment in our strategic initiatives as well as funding this dividend increase," Gendron said.
Wyndham Worldwide Corporation (NYSE: WYN) February 9, 2011, Parsippany, New Jersey announced that it has tripled its dividend.
“We are pleased to announce a tripling of our cash dividend and our intention to resume share repurchase activity,” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide. “As we continue to transform the Company to drive free cash flow, these actions reflect our confidence in the resilience of our business model, our proven ability to execute, and the sustainability of our cash flow, while maintaining investment grade credit metrics.”
The board of directors authorized an increase in the quarterly cash dividend to $0.12 from $0.04 per share, beginning with the dividend that is expected to be declared in the first quarter of 2010. With this increase the dividend is equivalent to an annual rate of $0.48 per share.
The company also announced its plan to resume the repurchase of its common stock under its existing $200 million stock repurchase program, which currently has $157 million remaining capacity. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted in the open market or in privately negotiated transactions.
Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges. Wyndham Hotel Group encompasses approximately 7,110 franchised hotels and approximately 597,700 hotel rooms worldwide. Wyndham Exchange and Rentals offers leisure travelers, including its 3.8 million members access to over 65,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 155 vacation ownership resorts serving over 820,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 25,000 employees globally.
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