Laura Franks’ Dividend Note No. 16, December 12, 2009 on Bexley Public Radio.
This report reports twenty-seven companies increasein their common dividends. An occasional note on dividends by Laura Franks. This is an informal collection of dividend increases for mostly U.S. stocks.
Bexley Public Radio hopes this is a positive note amidst the usual uncertainty of Wall Street and financial markets.
Commentary and analysis is sometimes offered in this informal journal.
Armanino Foods of Distinction, Inc. (Pink Sheets:AMNF) Haywood, CA, Dec. 3, 2009 declared an increased regular quarterly dividend of $0.00825 per share, from its previous amount of $0.0075 per share, and declared a special dividend of an additional $0.00825 per share, for a total dividend amount of $0.0165 per share. These dividends will be payable on or about January 29, 2010 to share-holders of record January 4, 2010. This is the Company’s 38th consecutive quarterly dividend.
Douglas R. Nichols, Chairman of the Board stated, “We are having an exceptionally strong year and think we should reward our shareholders accordingly.”
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pesto sauces and filled pastas to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Ancho Chile and Mediterranean. Armanino’s Organic line includes classic Basil Pesto. Frozen pastas, sauces, meatballs and Focaccia are also offered by Armanino Foods.
AXIS Capital Holdings Limited (NYSE: AXS) Pembroke, Bermuda, Dec. 10, 2009 announced that the Company has approved a 5% increase in the quarterly common dividend and has authorized a new share repurchase plan.
The Board has approved a 5% increase in the quarterly common dividend to $0.21 per share. The common dividend declared today will be payable on January 15, 2010 to the shareholders of record at the close of business on December 31, 2009.
Brandywine Realty Trust (NYSE: BDN) Radnor, PA Dec. 8, 2009 announced a quarterly cash dividend of $0.15 per common share, payable on January 20, 2010 to holders of record on January 6, 2010. The January 2010 $0.15 quarterly common share dividend represents a 50% increase from the previous $0.10 quarterly dividend paid in October 2009.
Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States. Organized as a real estate investment trust and operating in select markets, Brandywine owns, develops and manages a primarily Class A, suburban and urban office portfolio aggregating 34.9 million square feet, including 25.6 million square feet which it owns on a consolidated basis.
Cameco Corporation (NYSE: CCJ) Saskatoon, Canada Dec. 7, 2009 announced an increase in the annual cash dividend to $0.28 from $0.24 per share beginning in 2010. This represents a 17% increase in the common share dividend and will be the sixth increase in the last eight years. Cameco has consistently paid dividends since its shares began trading in 1991.
The company also declared a quarterly cash dividend of $0.06 per common share, payable on January 15, 2010 to shareholders of record on December 31, 2009.
Cameco, with its head office in Saskatoon, Saskatchewan, is one of the world's largest uranium producers. The company's uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. Cameco's shares trade on the Toronto and New York stock exchanges.
Comcast Corp. (NASDAQ:CMCSA) Philadelphia, PA Dec. 3, 2009 announced that the Company's planned annual dividend has increased 40% to $0.378 per share. In accordance with the increase, the Board of Directors has increased the quarterly dividend payable on January 27, 2010, to shareholders of record as of the close of business on January 6, 2010, from $0.0675 a share on the Company's common stock to $0.0945 a share.
Additionally, Comcast announced its intent to complete its $3.6 billion share repurchase authorization over the next 36 months.
DPL Inc. (NYSE: DPL) Dayton, OH Dec. 10, 2009 has increased the quarterly dividend for DPL common stock from $0.285 to $0.3025 per common share, effective with the next dividend declaration date. This action increases the annualized dividend from $1.14 to $1.21 per common share.
DPL is an energy company whose principal subsidiaries include The Dayton Power and Light company, DPL Energy, LLC (and DPL Energy Resources.
DP&L, a regulated electric utility, provides service to over 500,000 retail customers in West Central Ohio; DPLE engages in the operation of merchant peaking generation facilities; and DPLER is a competitive retail electric supplier in Ohio, selling to industrial and commercial customers.
DPL, through its subsidiaries, owns and operates approximately 3,700 megawatts of generation capacity, of which 2,800 megawatts are coal-fired units and 900 megawatts are natural gas and diesel peaking units.
Ecolab Inc. (NYSE:ECL) St. Paul, MN Dec. 3, 2009 increased the company’s quarterly cash dividend by 11% to $0.155 per common share, to be paid January 15, 2010, to shareholders of record at the close of business on December 15, 2009. This results in a new indicated annual cash dividend of a record $0.62 per share for 2010, and represents Ecolab’s 18th consecutive annual dividend rate increase.
Commenting on the increase, Douglas M. Baker, Jr., Ecolab’s Chairman, President and Chief Executive Officer commented, saying, “We continued our record of consecutive annual cash dividend increases, reflecting our expected attractive 2009 pro forma earnings performance, good cash flows and solid balance sheet. Ecolab remains a strong company with a strong future, and this action reflects our equally strong commitment to improving shareholder returns.”
Ecolab has paid cash dividends on its common stock for 73 consecutive years. Ecolab last increased its dividend in December 2008.
With sales of $6 billion and more than 26,000 associates, Ecolab (NYSE: ECL) is the global leader in cleaning, sanitizing, food safety and infection prevention products and services. Ecolab delivers comprehensive programs and services to the foodservice, food and beverage processing, healthcare, and hospitality markets in more than 160 countries.
Edison International (NYSE: EIX) Rosemead, CA, Dec.10, 2009 declared a quarterly common stock dividend of $0.315 per share, payable January 31, 2010, to shareholders of record on December 31, 2009. This action increases the annual dividend from $1.24 per share to $1.26 per share.
“We are pleased to announce an increase to our dividend, especially during the current difficult economic conditions,” said Edison International Chairman and CEO Theodore F. Craver, Jr. “This increase balances dividend increases with the significantly growing capital needs of our business."
Enbridge Inc. (TSX:ENB) (NYSE:ENB) Calgary, Alberta Canada Dec. 2, 2009 today announced a quarterly dividend of $0.425 per common share payable on March 1, 2010 to shareholders of record on February 15, 2010. The dividend reflects a 15% increase from the Company's prior quarterly rate of $0.37 per share.
Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North America and internationally. As a transporter of energy, Enbridge operates, in Canada and the United States, the world's longest crude oil and liquids transportation system. The Company also has international operations and a growing involvement in the natural gas transmission and midstream businesses. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 5,700 people, primarily in Canada, the U.S. and South America. Enbridge's common shares trade on the Toronto Stock Exchange in Canada and on the New York Stock Exchange in the U.S. under the symbol ENB.
Erie Indemnity Company (Nasdaq: ERIE) ERIE, Pa., Dec. 10 At its December 8, 2009, regular meeting the Board of Directors of approved increases in shareholders' dividends and set the management fee rate charged to Erie Insurance Exchange.
The Board increased the regular quarterly cash dividend from $0.45 to $0.48 on each Class A share and from $67.50 to $72.00 on each Class B share. The dividend is payable January 20, 2010, to shareholders of record as of January 5, 2010, with a dividend ex-date of December 31, 2009. This represents a 6.7 percent increase in the payout per share over the current dividend rate. This is the 76th consecutive year Erie Indemnity Company has paid dividends.
Graco Inc. (NYSE: GGG) Minneapolis, MN Dec. 4, 2009 has declared a regular quarterly dividend of 20 cents per common share, an increase of 5 percent, payable on February 3, 2010, to shareholders of record at the close of business on January 19, 2010. The Company has approximately 59.9 million shares outstanding.
Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.
Hillenbrand, Inc. (NYSE: HI) Batesville, IN, Dec. 2, 2009 has announced a regular quarterly cash dividend of $0.1875 per share on the company's common stock, a 1.35 percent increase over the previous quarterly rate of $0.185 per share. The dividend is payable Dec. 31, 2009, to shareholders of record at the close of business on Dec. 17, 2009.
"The board's decision to increase the dividend for the second consecutive year reflects its confidence in the company's continued financial strength," said Kenneth A. Camp, Hillenbrand president and CEO. "Our historical annual dividend payout of more than $45 million is an important part of our commitment to return a meaningful portion of our strong cash flow to shareholders."
Hillenbrand, Inc. is the holding company for Batesville Casket Company, a leader in the North American death care industry through the sale of funeral services products, including burial caskets, cremation caskets, containers and urns, selection room display fixturing and other personalization and memorialization products.
Horace Mann Educators Corporation (NYSE: HMN) Springfield, IL, Dec. 9, 2009 announced a quarterly dividend of 8 cents per share payable on December 31, 2009 to shareholders of record as of December 21, 2009. The quarterly dividend amount represents an increase of 52.4 percent from the third quarter 2009 dividend.
"The Board's decision to increase the dividend at this time reflects Horace Mann's financial strength and strong capital position, which have remained intact following a period of unprecedented stress in the financial markets, and also reflects management's positive outlook for profitable growth in 2010 and beyond," said Louis G. Lower II, President and Chief Executive Officer.
Horace Mann -- the largest national multiline insurance company focusing on educators' financial needs -- provides auto and homeowners insurance, retirement annuities, life insurance and other financial solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Ill.
J & J Snack Foods Corp. (NASDAQ:JJSF) Pennsauken, NJ Dec. 7, 2009 announced that its Board of Directors has declared a regular quarterly cash dividend of $.1075 per share of its common stock payable on January 6, 2010 to shareholders of record as of the close of business on December 15, 2009. The cash dividend of $.1075 per share represents a 10.3% increase from the previous quarterly dividend rate of $.0975 per share.
J & J Snack Foods Corp.’s principal products include SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH PUPPIE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S, SHAPE UPS, MINUTE MAID* and BARQ’S** frozen juice bars and ices, WHOLE FRUIT sorbet, FRUIT-A-FREEZE frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S churros, THE FUNNEL CAKE FACTORY funnel cakes, and MRS. GOODCOOKIE, CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton, Hatfield and Chambersburg, Pennsylvania; Carrollton, Texas; Atlanta, Georgia; Moscow Mills, Missouri; Pensacola, Florida and Vernon and Newport, California.
Landauer, Inc. (NYSE: LDR) Glenwood, IL Dec. 3, 2009 announced today that its Board of Directors increased the regular quarterly cash dividend to $0.5375 per share for the first quarter of fiscal 2010. This increase represents an annual rate of $2.15 per share compared with $2.10 last year. The dividend will be paid on January 4, 2010 to shareholders of record on December 11, 2009.
Landauer is the world's leading provider of technical and analytical services to determine occupational and environmental radiation exposure and is the leading domestic provider of outsourced medical physics services. For more than 50 years, the Company has provided complete radiation dosimetry services to hospitals, medical and dental offices, universities, national laboratories, nuclear facilities and other industries in which radiation poses a potential threat to employees. Landauer's services include the manufacture of various types of radiation detection monitors, the distribution and collection of the monitors to and from clients, and the analysis and reporting of exposure findings. The Company provides its dosimetry services to approximately 1.6 million people in the United States, Japan, France, the United Kingdom, Brazil, Canada, China, Australia, Mexico and other countries. In addition, through its Global Physics Solutions subsidiary, the Company provides therapeutic and diagnostic physics services and educational services to the medical physics community.
Laurentian Bank of Canada (TSE:LB) Montreal, Canada Dec. 9, 2009
increased its quarterly dividend by about 6% or 2 cents to 36 cents.
The rise in dividend comes as Laurentian Bank, which is Canada’s seventh largest bank reported its 3rd consecutive year of record net income and record loan and deposit growth.
For fiscal 2009, Laurentian earned $113.1 million or $4.23 per share, up from $102.5 million or $3.50 per share in fiscal 2008.
Lincoln Electric Holdings, Inc. (Nasdaq: LECO) Cleveland, OH Dec. 2, 2009. The Board of Directors of today declared a 3.7% increase in the cash dividend from $0.27 per share quarterly to $0.28 per share quarterly, or $1.12 on an annualized basis. The quarterly dividend is payable January 15, 2010, to shareholders of record on December 31, 2009.
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 38 manufacturing locations, including operations, manufacturing alliances and joint ventures in 18 countries and a worldwide network of distributors and sales offices covering more than 160 countries.
New Jersey Resources (NYSE: NJR) Wall, NJ, Dec. 1, 2009 reported fiscal 2009 net financial earnings per share rose 7.1 percent over the same period last year, increased its annual dividend 9.7 percent and announced its net financial earnings guidance for fiscal 2010.
NJR also announced that its board of directors approved a 9.7 percent increase in the quarterly dividend rate to $.34 per share from $.31 per share. The new quarterly rate will be effective with the dividend payable January 4, 2010 to shareowners of record on December 15, 2009. The new annual dividend rate will be $1.36 per share.
“We remain committed to a strong dividend and financial profile,” said Downes. “Over the past three years, our average annual dividend increase has been 10.3 percent with a payout ratio that is well below our industry and peer averages. It continues to be our objective to execute a dividend strategy that is sustainable over the long term.”
NJR has increased its dividend in each of the past 15 years and has paid quarterly dividends continuously since its inception in 1952.
NSTAR (NYSE: NST) Boston, MA Nov. 19, 2009 announced today that its Board of Trustees voted to increase the dividend on its common shares to an annualized rate of $1.60 per share, a 6.7% increase over the previous rate of $1.50.
This is the company’s 483rd consecutive dividend and the twelfth consecutive year that NSTAR has increased the dividend. The company has one of the longest consecutive payment records on the New York Stock Exchange.
The Board declared a quarterly dividend of $0.40 per share, payable February 1, 2010 to shareholders of record as of January 8, 2010.
Chairman, President and Chief Executive Officer Thomas J. May said, “The dividend action taken by our Board reflects the solid financial condition of the company and the confidence we have in our business outlook. This increase is in line with our goal of maintaining a healthy balance between dividends paid to our shareholders and earnings reinvested into the business to maintain our high level of reliability and service quality results.”
Nucor Corp. (NYSE:NUE) Charlotte, NC Dec 03, 2009 The board of directors of Nucor Corp, a steel products company, announced on Wednesday that the company has raised the regular quarterly cash dividend on its common stock by 2.9% to USD0.36 per share from USD0.35 per share. The cash dividend will be paid on 11 February 2010 to stockholders of record as of 31 December 2009.
Nucor has increased its regular, or base, dividend for 37 consecutive years -- every year since it first began paying dividends in 1973. Reflecting the Nucor team's success in building Nucor's long-term earnings power, the base quarterly dividend has more than tripled since the end of 2007. In addition, over the period from 2000 to 2009, Nucor's base dividend has increased approximately ten-fold.
Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and non ferrous scrap. Nucor is North America's largest recycler.
OGE Energy Corp. (NYSE: OGE) Oklahoma City, OK, Dec. 3, 2009 announced today that its Board of Directors has approved an increase in the company's annual dividend to $1.45 per share from $1.42 per share.
The increase is effective with its first-quarter 2010 dividend of $0.3625 per common share of stock, to be paid Jan. 29, 2010, to shareowners of record Jan. 8, 2010. This continues an uninterrupted string of quarterly dividends dating back to 1947.
"We are pleased to be able to increase our dividend again this year," said Pete Delaney, chairman, president and CEO of OGE Energy. "As we operate in a challenging economy, we are controlling costs and maintaining our company's strong financial position. This enables us to continue our commitment to growing earnings and dividends for the long term."
OGE Energy is the parent company of OG&E, a regulated electric utility, and of Enogex LLC, a midstream natural gas pipeline business.
The Toro Company (NYSE: TTC) Bloomington, MN Dec. 8, 2009 reported net earnings of $62.8 million, or $1.73 per share, on net sales of $1,523.4 million for its fiscal year ended October 31, 2009. For fiscal 2008, the company posted net earnings of $119.7 million, or $3.10 per share, on net sales of $1,878.2 million.
Triangle Capital Corporation (NASDAQ: TCAP) Raleigh, NC, Dec. 1, 2009 announced that its Board of Directors has declared a cash dividend of $0.41 per share. This quarterly dividend reflects a 2.5% increase over the fourth quarter of 2008. The Company's dividend will be payable on January 5, 2010 for the share holders of record date December 22, 2009.
Universal Forest Products, Inc. (NASDAQ:UFPI) Grand Rapids, MI, Oct. 19, 2009 announced that its Board of Directors approved an increase in its December 15, 2009, dividend, to $0.20 per share, at their October 15, 2009, meeting. The dividend is payable to shareholders of record on December 1, 2009.
Universal Health Services, Inc. (NYSE: UHS) King of Prussia, Pa., Nov. 18, 2009 announced today that its Board of Directors has declared a two for one stock split in the form of a 100% stock dividend payable on December 15, 2009 to shareholders of record as of December 1, 2009. All classes of common stock will participate on a pro rata basis. The Board's decision should improve liquidity and trading volume in the Company's stock.
The company also announced that the Board of Directors voted to pay a cash dividend of $0.05 per share (post-split) on December 15, 2009 to shareholders of record as of December 1, 2009.
Universal Health Services, Inc. is one of the nation's largest hospital companies, operating, through its subsidiaries, acute care and behavioral health hospitals, and ambulatory centers nationwide and in Puerto Rico.
Certain statements in this release may constitute forward-looking statements and are subject to various risks and uncertainties as discussed in the Company's filing with the Securities and Exchange Commission. The Company is not obligated to update these forward-looking statements even if the Company's assessment of these risks and uncertainties changes.
The Valspar Corporation (NYSE:VAL) Minneapolis, MN Dec. 10, 2009 announced today that at its December 9, 2009 meeting, the Company’s Board of Directors declared a quarterly dividend of 16 cents per share, payable January 15, 2010 to all common stockholders of record on December 31, 2009. The 16 cent dividend represents a 1 cent, or 6.7 percent, increase from the dividend in place over the last four quarters.
The Valspar Corporation is a global leader in the paint and coatings industry. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality and the best customer service in the coatings industry.
The Western Union Co. (NYSE: WU) Englewood, CO, Dec. 9, 2009 announced that its Board of Directors has declared an increase in the Company's dividend, to $0.06 per common share paid quarterly, and authorized a new $1 billion share repurchase authorization. The quarterly dividend represents the equivalent of $0.24 annually, an increase from the previous annual dividend of $0.04 per common share.
The Western Union Company (Western Union) is engaged in the business of global money transfer, providing people with convenient ways to send money worldwide. The Company’s services are available through a network of over 375,000 agent locations in more than 200 countries and territories.
As of December 31, 2008, approximately 75% of Western Union’s locations had experienced money transfer activity in the prior 12 months. Its consumer-to-consumer money transfer service enables people to send money worldwide in minutes. Its consumer-to-business service provides consumers with options for making one-time or recurring bill payments. The Company offers money transfer services under the Western Union, Orlandi Valuta and Vigo brands in over 200 countries and territories, and various bill payment services, primarily in the United States, under several brands like Speedpay, Equity Accelerator, Just in Time EFT, Western Union Quick Collect and Western Union Convenience Pay.
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Design is copyright 2009. All rights reserved. Bexley Public Radio Foundation. Text is copyright 2009. All rights reserved. Laura Franks.
