Laura Franks’ Dividend Note No. 17, December 18, 2009 on Bexley Public Radio.

Laura Franks’ Dividend Note No. 17, December 17, 2009 on Bexley Public Radio.

This is a report on fifteen companies that are increasing dividends. It is an occasional note on dividends by Laura Franks.

This informal collection marks 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.

ABM Industries (NYSE: ABM) New York Dec. 16, 2009 announced that the Board of Directors has declared a first quarter cash dividend of $0.135 per common share, which is nearly a 4% increase, payable on February 1, 2010 to stockholders of record on January 7, 2010. This will be ABM’s 175th consecutive quarterly cash dividend.

BCE, Inc. (NYSE: BCE) Montreal, Canada, Dec. 17, 2009 announced a 7% increase in its annual common share dividend to $1.74 per share for 2010 as well as plans for the use of its year-end 2009 surplus cash balance that include a Normal Course Issuer Bid (NCIB) for up to $500 million and a $500 million special voluntary pension contribution.

"BCE is committed to delivering attractive ongoing returns to our shareholders and has done so through consistent and sustainable dividend increases and share buybacks since December 2008," said George Cope, President and CEO of BCE and Bell Canada. "Our accelerating business performance built on the Bell team's strong execution of our 5 Strategic Imperatives, substantial free cash flow generation and ample liquidity provide us with the financial flexibility to reward shareholders while maintaining both a strong balance sheet and robust capital investment in Bell's networks and service programs."
Today's announcement represents BCE's third increase to the annual common share dividend and the second share buyback since the termination of its proposed privatization agreement in December 2008. With this increase, BCE's annual common share dividend has increased by 19% since the fourth quarter of 2008.

The BCE annual common share dividend will increase by 7% to $1.74 per share, effective with BCE's Q1 2010 dividend payable on April 15, 2010 to shareholders of record at the close of business on March 15, 2010. This increase maintains BCE's payout ratio conservatively towards the lower end of its policy of 65% to 75% of Adjusted EPS for 2010.

The increased dividend is effective with the quarterly dividend payable April 15 to shareholders of record March 15.

BioMed Realty Trust, Inc. (NYSE: BMR) San Diego, CA, Dec, 15, 2009 has declared a fourth quarter 2009 dividend of $0.14 per share of common stock, or $0.56 annualized. The dividend represents a 27.3% increase over the company's third quarter 2009 dividend of $0.11 per share. 

The dividend is payable on January 15, 2010 to stockholders of record at the close of business on December 31, 2009. The ex-dividend date is December 29, 2009.

Yield on the dividend is 3%.

CapLease, Inc. (NYSE: LSE) New York, Dec. 16, 2009 announced an increase in the Company’s quarterly dividend by 20% beginning with the fourth quarter of 2009 to $0.06 per share. That increase reflects the Company’s significant progress over the past 12 months in strengthening the balance sheet, including reducing debt by more than $125 million in 2009 and the early extension of the Wachovia term loan facility until April 2011. The Board of Directors will continue to reevaluate the Company’s dividend policy throughout the year as the Company implements its 2010 plans which are focused on increasing free cash flow and resuming portfolio growth on an opportunistic basis.

Consistent with the foregoing dividend policy, the Company announced today that its Board of Directors has declared a cash dividend of $0.06 per share of common stock and per limited partnership unit for the fourth quarter of 2009.

DTF Tax-Free Income Inc., (NYSE: DTF) Chicago, Dec. 14, 2009 determined that the monthly dividends for January and February 2010 will be in the amount of $0.06 per share. The $0.06 per share dividend rate represents an increase of $0.005 per share from the Fund's previous $0.055 monthly distribution rate. This increase in the dividend rate is intended to better align the Fund's monthly distribution with its current and projected earnings and is subject to re-evaluation as the interest rate and credit environment changes.

DTF Tax-Free Income Inc. is a diversified, closed-end investment company. The Fund's investment objective is current income exempt from regular federal income tax consistent with preservation of capital. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of investment-grade tax-exempt obligations. The Fund's investment adviser is Duff & Phelps Investment Management Co.

Flaherty & Crumrine Preferred Income Fund Incorporated (NYSE:PFD) Pasadena, CA, Dec. 15, 2009 The monthly dividend rate for PFD has been increased by approximately 14.3% to USD0.072 per share, equating to an annual dividend of USD0.864 per share. The dividend will be paid on 31 December 2009 to holders of record of the fund's common stock on 23 December 2009. The expected ex-dividend date is 21 December 2009.

Flaherty & Crumrine Preferred Income Opportunity Fund Incorporated (NYSE:PFO) Pasadena, CA, Dec. 15, 2009. The new monthly dividend rate for PFO will be USD0.0575 per share, an increase of approximately 15% and equating to an annual dividend of USD0.690 per share. The dividend will be paid on 31 December 2009 to holders of record of the fund's common stock on 23 December 2009. The expected ex-dividend date is 21 December 2009.

First Financial Corporation (NASDAQ: THFF) Terre Haute, IN, Dec. 16, 2009 declared a semi-annual dividend of 45 cents per share payable on January 4, 2010, to shareholders of record at the close of business on December 28, 2009. Today's declaration brings the total dividend declared for 2009 to 90 cents per share, a 1.1% increase from 2008.

"We have been pleased to reward our shareholders for their support and confidence with increased dividends for 21 consecutive years," said Donald E. Smith, Chairman.

"In 2009 First Financial Bank marked its 175th year of service," he said. "Two other notable milestones in 2009 included the acquisition of the First National Bank of Danville in Vermillion County, Illinois and the opening of our new Sycamore Terrace banking center on the east side of Terre Haute. At a time when the nation's economy continues to struggle, these achievements demonstrate the strength of our company."

First Financial Corporation is the holding company for First Financial Bank N.A., with 54 banking centers in western Indiana and eastern Illinois; The Morris Plan Company of Terre Haute; and Forrest Sherer Inc., a full-service insurance agency.

General Mills (NYSE: GIS) Minneapolis, MN Dec. 14, 2009 announced an increase the company’s quarterly dividend rate to 49 cents per share, effective for the dividend to be paid on Feb. 1, 2010. The dividend will be payable to shareholders of record on Jan. 11, 2010.

The rate increase means the food manufacturer’s common sharholders will receive dividends of $1.92 per share for the present 2010 fiscal year, up from $1.72 in fiscal 2009.

General Mills previously increased its quarterly payment to 47 cents per share. That change was effective for its August 2009 payment.

General Mills and its predecessor firm have paid shareholder dividends without interruption or reduction for 111 years.
The company’s stock was down 13 cents per share, or 0.19 percent, to $68.93 at the close of trading Monday.

Hatteras Financial Corp. (NYSE: HTS) Winston Salem, NC Dec. 15, 2009 declared a quarterly dividend of $1.20 per common share for the fourth quarter of 2009. The dividend will be paid on January 22, 2010, to stockholders of record on December 28, 2009, with an ex-dividend date of December 23, 2009. 

"We are pleased to announce our fourth consecutive dividend increase this year," said Michael R. Hough, Chief Executive Officer of Hatteras. "It continues to be a strong operating environment for the company and we're excited by the prospects for 2010. The portfolio is conservatively positioned and we will continue to adjust the asset and liability mix as we progress through this cycle."

Iberdrola (OTC: IBDRY) Bilbao, Spain Dec. 16, 2009 yesterday approved a 5% increase in overall amount for the ordinary dividend this year against the spread last year. Iberdrola will pay 0.143 euros gross per title on account of profit for the year 2009, making the shareholder remuneration is in line with 2008. The electric company will also further the payment of such compensation to December 30. This measure seeks to avoid increased tax rates on capital income approved by the Spanish government and will enter into force on January 1, 2010.

Pfizer Inc.(NYSE: PFE) New York, Dec 18, 2009 declared an 18-cent first-quarter 2010 dividend on the company's common stock, payable March 2, 2010, to shareholders of record at the close of business on February 5, 2010.

The company noted that it increased the dividend by 12.5 percent, to 18 cents from 16 cents per share.

"The board has determined that a measured dividend increase can be supported at this time," said Jeffrey Kindler, Pfizer Chairman and Chief Executive Officer. "This increase is a testament to our commitment to enhance shareholder value and our confidence in our business and our ability to rapidly integrate Wyeth and realize the anticipated benefits of the acquisition.

While the dividend level remains a decision of the board and will continue to be evaluated in the context of future business performance, we currently believe that we can support future annual dividend increases, barring significant unforeseen events."

The first-quarter 2010 cash dividend will be the 285th consecutive quarterly dividend paid by Pfizer.

Realty Income Corporation (NYSE:O) Escondido, CA announced that its Board of Directors has declared an increase in the Company’s common stock monthly cash dividend to $0.143 per share from $0.1426875 per share. The dividend is payable on January 15, 2010 to shareholders of record as of January 4, 2010. This is the 49th consecutive quarterly increase and the 56th dividend increase since Realty Income went public in 1994. The new monthly dividend amount represents an annualized dividend amount of $1.716 per share as compared to the previous annualized dividend amount of $1.71225 per share. The Company continues its long-term policy of declaring and paying dividends on a monthly, rather than on a quarterly, basis.

Tom A. Lewis, Chief Executive Officer of Realty Income commented, “We are pleased that, despite challenging economic conditions, our operations allow us to once again increase the amount of the dividend we pay to our shareholders. With the payment of the January dividend we will have made 474 consecutive monthly dividend payments.“

Realty Income, The Monthly Dividend Company®, is a New York Stock Exchange real estate company dedicated to providing shareholders with dependable monthly income. To date the Company has declared 474 consecutive common stock monthly dividends throughout its 40-year operating history and increased the dividend 56 times since Realty Income’s listing on the New York Stock Exchange in 1994. The monthly dividend is supported by the cash flow from over 2,300 retail properties owned under long-term lease agreements with leading regional and national retail chains. The Company is a buyer of net-leased retail properties nationwide.

Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) Greenwich, CT, Dec. 17, 2009 announced 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 $0.2425 for each share of Class A Common Stock and $0.2200 for each share of Common Stock. The dividends are payable January 22, 2010 to stockholders of record on January 8, 2010. The new dividend rates represent annualized increases of $0.01 per share for both the Class A Common shares and Common shares. The dividends declared represent the 160th consecutive quarterly dividend on common shares declared since the Company began operating in 1969 and the sixteenth consecutive annual increase in the dividend rates.

The Directors of UBP also declared the regular quarterly dividends on the Company’s Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock. The dividends were declared in the amount of $2.125 for each share of Series C Preferred Stock, $0.46875 for each share of Series D Preferred Stock and $0.53125 for each share of Series E Preferred Stock. The dividends are payable January 29, 2010 to stockholders of record on January 15, 2010.

UBP is a self-administered equity real estate investment trust providing investors with a means of participating in ownership of income-producing properties and investment liquidity. UBP owns or has an interest in 46 properties containing 3.9 million square feet of space. UBP’s core properties consist principally of community shopping centers located in the northeast with a concentration in Fairfield County, Connecticut, Bergen County, New Jersey and Westchester and Putnam Counties, New York.

Waste Management, Inc. (NYSE: WM) Houston, TX Dec. 17, 2009 approved an increase in the quarterly dividend from $0.29 to $0.315 or 8.6%.

The company has increased its quarterly dividend for six consecutive years.

Waste Management CEO David P. Steiner said, "This announcement reflects our continued commitment to returning cash to our shareholders. Waste Management continues to produce consistent and strong cash flows, as evidenced by the dividend increase. The Board of Directors and management remain focused on being prudent and disciplined stewards of the Company's capital."

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Design is copyright 2009. All rights reserved. Bexley Public Radio Foundation. Text is copyright 2009. All rights reserved. Laura Franks.

Bexley Public Radio Dividend Note No. 7, July 6, 2009.

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An occasional note on dividends. This is an informal collection of some information on dividend increases for U.S. stocks.

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


Abbott Laboratories (NYSE: ABT) June 15, 2009. The board of directors of Abbott, a health care company, reported on Friday a cash dividend of USD 0.40 per share on its common stock, which is the company's 342nd consecutive quarterly dividend. Abbot has now increased its dividends for 37 consecutive years.

The cash dividend is due on 15 August 2009 to shareholders of record at the close of business on 15 July 2009.

American Capital Agency Corp. (NASDAQ AGNC) June 23, 2009 boosted its second-quarter cash dividend by 76.5% to $1.50 per share from the $0.85/share it paid in the first quarter, when most companies in its sector have stopped paying or cut dividends.

The dividend is payable on July 27, with a record date of July 2 and ex-dividend date of June 30.

AGNC is a REIT or Real Estate Investment Trust formed in 2008 to invest exclusively in agency pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. Government-sponsored entity.

Cardinal Health, (NYSE: CAH) June 8, 2009 which provides products and services to the healthcare sector in the United States, announced a 25% increase in its quarterly dividend to $0.175/share. The dividend has increased over 11 times over the past decade. The company's focus on dividend expansion creates a predictable and disciplined use of cash to drive shareholder returns and signals confidence and strength in the cash generated by its businesses. The stock currently yields 2.30%.

Casey’s General Store (NASDAQ: CASY) June 19, 2009 has over 1,450 convenience stores (including franchises) in nine
midwestern states, selling food, beverage, health and automotive products. At its June meeting, the Board of Directors increased the quarterly dividend 13.3% to $0.085/share. The dividend is payable August 17th, to shareholders of record on August 3rd. This marks the fourth consecutive year CASY has increased its dividend. At the new rate, the stock is yielding 1.3%.

Citizens Holding Company (NASDAQ: CIZN) June 2, 2009 announced today that its Board of Directors declared a cash dividend of $0.20 per share payable June 30, 2009, to shareholders of record as of June 15, 2009.

“I am proud today to announce our second quarter 2009 dividend of $0.20 per share,” said Greg L. McKee, President and Chief Executive Officer. “This dividend brings the year to date dividend to $0.40, an increase of 5.3% over the dividend paid in the first two quarters of 2008.”

Citizens Holding Company is a one-bank holding company and the parent company of The Citizens Bank of Philadelphia, both headquartered in Philadelphia, Mississippi. The Bank has twenty-three full service banking locations in ten counties in East Central Mississippi in addition to a Loan Production Office in Biloxi, Mississippi. In addition to full service commercial banking, the Company offers mortgage loans, title insurance services through its subsidiary, Title Services, LLC and a full range of Internet banking services including online banking, bill pay and cash management services for businesses.

The Clorox Company (NYSE: CLX), June 12, 2009 increased its dividend 9% to $0.50 per share.

C.R. Bard (NYSE: BCR) June 10, 2009 said late Wednesday its board had approved a quarterly dividend increase of 6%. The Murray Hill, N.J.-based company will now pay a quarterly dividend of 17 cents per share, up from its previous 16 cents. The dividend is payable July 31 to shareholders of record as of July 20. This increase marks the eighth consecutive year of dividend hikes for the company. Bard's dividend payout has doubled in the past 12 years.

Darden Restaurants (NYSE: DRI) June 25, 2009 Increased its dividend to $0.25 quarterly with a current yield of 3.14%.

Darden operates in the full-service dining segment of the restaurant industry, primarily in the United States. the Company operated, through its subsidiaries, 1,702 restaurants in the United States and Canada. In the United States, , including 651 Red Lobster, 647 Olive Garden, 305 LongHorn Steakhouse, 32 The Capital Grille, 23 Bahama Breeze and seven Seasons 52 restaurants, and two specialty restaurants: Hemenway’s Seafood Grille & Oyster Bar and The Old Grist Mill Tavern. In Canada, Darden operated 35 restaurants, including 29 Red Lobster and six Olive Garden restaurants.

The dividend was raised yesterday from $0.20 to $0.25 quarterly putting the current yield at a very attractive 3.14%. This marked the seventh annual increase over the past eight years. Holders of record on July 10th will be paid the higher rate on August 3rd.

Del Monte (NYSE: DLM) June 19, 2009. Del Monte Foods announced a 25% dividend increase albeit from a small base. The Board of Directors approved a quarterly cash dividend $0.05 per share, which is a $0.01 increase from the prior level of $0.04. The company maintains a leveraged balance sheet with debt-to-equity ratio of 0.97.

Duke Energy Corp. (NYSE: DUK) June 23, 2009 has increased its quarterly cash dividend by 4 percent to 24 cents per share from 23 cents per share. The dividend is payable Sept. 16 to shareholders of record on Aug. 14. “Despite challenging economic conditions, Duke Energy continues to successfully implement its business strategy,” says Chief Executive Jim Rogers. “We are pleased to share this success with our investors.”
This is the 83rd consecutive year that Charlotte-based Duke Energy has paid a quarterly cash dividend on its common stock.

Ecology and Environment, Inc. (NASDAQ: EEI) June 17, 2009. E & E reported an increase of $10.6 million in revenue during the third quarter of fiscal year 2009 compared to the third quarter of the prior year. The increase in revenue was attributable to increased work in the Company's energy, environmental restoration, and federal government sectors. "We strongly believe in sustainability throughout our organization and in our financials," said President and CEO, Kevin Neumaier. At the end of the quarter, the company had cash of $13.5 million with debt of only $.7 million and available lines of credit of $37.6 million. The Company's book value was $40.3 million or $9.86 per share. In April 2009, the Company declared a dividend of $.20 per share to shareholders of both Class A and Class B common stock, which represents the 47th consecutive dividend since the Company became public in 1987 and the 14th increase in 22 years.

FactSet Research Systems Inc. (NYSE:FDS) (Nasdaq:FDS), June 16, 2009 a leading provider of integrated financial information and analytical applications to the global investment community, today announced its results for the third quarter of fiscal 2009.

For the quarter ended May 31, 2009, revenues increased to $154.4 million, up 5% compared to the prior year. Operating income for the third quarter rose to $53.3 million, an increase of 11% from $47.9 million in the same period of fiscal 2008. Operating margins advanced to 34.5%. Net income rose to $38.5 million as compared to $32.5 million a year ago. Diluted earnings per share increased to $0.79 from $0.65 in the same period of fiscal 2008. Included in this quarter's EPS was an income tax benefit of $0.06 per share related to finalizing prior years' tax returns and repatriating foreign earnings to the U.S. The quarterly dividend increased 11% from $0.18 to $0.20 per share. Common shares outstanding at May 31, 2009 were 47.1 million. The Company repurchased 200,000 shares during the quarter and $134 million remains authorized for future repurchases.

The First Bancorp (NASDAQ: FNLC) June 18, 2009. The Board of Directors of The First Bancorp today declared a quarterly dividend of 19.5 cents per share. This second-quarter dividend, which is payable July 31, 2009, to shareholders of record as of July 6, 2009, represents an increase of 2.6% or 0.5 cent per share over the second-quarter dividend declared in 2008 of 19.0 cents per share and is equal to the 19.5 cents per share declared in the previous three quarters.

First Keystone Corporation (OTC BB: FKYS) June 4, 2009 parent company of First Keystone National Bank, declared a $.23 per share quarterly cash dividend to shareholders of record as of June 16, 2009, payable June 30, 2009. Total cash dividends per share will be $.46 as of June 30, 2009, up from $.44 paid in the first two quarters of 2008, an increase of 4.5%.

First Keystone National Bank, an independently owned community bank since 1864, presently operates 14 full service offices in Columbia (5), Luzerne (4), Montour (1) and Monroe (4) Counties providing banking and trust services. In Monroe County, the Bank trades as Pocono Community Bank, a division of First Keystone National Bank.
Inquiries regarding the purchase of the company’s stock may be made through the following brokers: RBC Dain Rauscher, 800-223-4207; Janney Montgomery Scott, Inc., 800-526-6397; Boenning & Scattergood, Inc., 800-883-8383; and Stifel Nicolaus & Co. Inc., 800-223-6807.

Franklin Resources (NYSE: BEN) June 16, 2009 announced a quarterly cash dividend of $0.21 per share payable on July 10, 2009 to stockholders of record on June 30, 2009. The quarterly dividend of $0.21 is equivalent to the dividend paid for the prior quarter and represents a 5% increase over the quarterly dividend paid for the same quarter last year.

Franklin Resources, Inc. is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $448 billion in assets under management as of May 31, 2009.

Hatteras Financial Corp. (NYSE: HTS) Jun 23, 2009. The Board of Directors of Hatteras Financial Corp. today declared a quarterly dividend of $1.10 per common share for the second quarter of 2009. The dividend will be paid on July 24, 2009, to stockholders of record on July 6, 2009, with an ex-dividend date of July 1, 2009.
"We are pleased to again announce an increase in our quarterly dividend," said Michael R. Hough, Chief Executive Officer of Hatteras. "Borrowing costs have continued to trend lower, which has directly contributed to a higher net interest margin than we earned in the first quarter. While prepayment rates have trended moderately higher quarter over quarter, they have remained on the low end of our estimates."

Hatteras Financial is a real estate investment trust formed in 2007 to invest in adjustable-rate and hybrid adjustable-rate single-family residential mortgage pass-through securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. Based in Winston-Salem, N.C., Hatteras is managed and advised by Atlantic Capital Advisors LLC. Hatteras is a component of the Russell 2000(R) and the Russell 3000(R) indices.

Isabella Bank Corp. (OTC pink sheets ISBA) May 31, 2009. Several members of the Isabella Bank Corp. Board of Directors were re-elected to new terms at the annual meeting of shareholders on May 5.

Shareholders re-elected David J. Maness, president of Maness Petroleum; W. Joseph Manifold, CPA and president of Federal Broach; William J. Strickler, president of Michiwest Energy; and Dennis P. Angner, president of Isabella Bank Corporation, to serve as members of the Board of Directors until the 2012 annual meeting of shareholders.

Additionally James C. Fabiano, chairman of Fabiano Brothers, was re-elected by the Board of the Directors to serve as chairman of the corporation.

Angner also announced that the corporation's Board of Directors at its May 21 meeting declared a second quarter cash dividend of 13 cents per share payable on June 30 to shareholders of record on June 1. The cash dividend represents an 8.3 percent increase over the dividend paid in the first quarter of 2009 and the second quarter of 2008 and reflects the corporation's continued strong financial performance.

Isabella Bank Corporation, with $1.65 billion of assets under management, is the parent company of Isabella Bank, which serves the central Michigan region with 24 branch locations.

John Wiley & Sons, Inc. (NYSE: JWa & JWb), June 18, 2009 announced that the Board of Directors at their meeting today declared a quarterly cash dividend of $0.14 per share on its Class A and Class B Common Stock, payable on July 14, 2009 to shareholders of record on July 6, 2009. This is the 16th consecutive annual dividend increase and represents an increase of 8% over the previous dividend of $0.13 per share.

Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley and its acquired companies have published the works of more than 350 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace.

Its core businesses publish scientific, technical, medical, and scholarly journals, encyclopedias, books, and online products and services; professional/trade books, subscription products, training materials, and online applications and Web sites; and educational materials for undergraduate and graduate students and lifelong learners. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canada, and Australia.

Lowe’s Cos (NYSE: LOW) announced a quarterly cash dividend increase of about 6%, from 8.5 cents per share to 9 cents per share, the new dividend will be paid on July 31 to July 17 before closing the register of shareholders in the distribution.

In addition, held Friday in the company’s annual shareholders meeting, shareholders also re-elected Peter C. Browning, Marshall O. Larsen, Stephen F. Page and O. Temple Sloan Jr as a director, two-year term. Shareholders rejected the company’s North Dakota re-registration, as well as separation of chairman and chief executive officer of the proposed posts.

Medtronic, Inc. (NYSE: MDT), June 18, 2009 which develops, manufactures, and markets medical devices worldwide, approved a 9% increase in its quarterly dividend to 20.50 cents per share. In addition to that the company also approved an increase in its Share Repurchase Plan, authorizing Medtronic to purchase an additional 60 million shares of its common stock, which represents 5.4% of the company’s outstanding stock issued. Medtronic, Inc. is a dividend champion, which has increased its quarterly dividend for thirty one consecutive years. The stock currently yields 2.20%.


Occidental Petroleum Corporation (NYSE:OXY) April 30, 2009 announced today that its Board of Directors has increased the company's quarterly dividend from $.32 per share to $.33 per share for an annual rate of $1.32 per share, compared to the previous annual rate of $1.28 per
share.

The dividend will be payable on July 15, 2009, to stockholders of record as of June 10, 2009. Oxy has raised the dividend every year since 2002. This increase is the company's eighth over the period, during which Oxy's dividend has risen 164 percent. The company has paid quarterly dividends continuously since 1975.

Oil-Dri (NYSE: ODC) June 9, 2009 The Board of Directors of Oil-Dri Corporation of America today declared quarterly cash dividends of $0.15 per share of the Company's Common Stock and $0.1125 per share of the Company's Class B Stock, a 7% increase for both classes of stock. The dividends will be payable on September 4, 2009, to stockholders of record at the close of business on August 21, 2009. The Company has paid cash dividends continuously since 1974.

Oil-Dri Corporation of America is a leading supplier of specialty sorbent products for industrial, automotive, agricultural, horticultural and specialty markets and the world's largest manufacturer of cat litter.

PetSmart (NASDAQ: PETM) Jnue 26, 2009 after an extensive analysis of expected free cash flows showed confidence in their our operating plan with a generous dividend increase and share repurchase plan.

PETM operates more than 1,100 pet stores in the U.S. and Canada, offering pet food, supplies and services. Tuesday the company PETM announced an increase its quarterly dividend of 233% to $0.10/share. In addition, its Board of Directors authorized a $350 million stock purchase plan. In a statement the company said it plans to continue to grow the business by opening about 40 stores per year for the foreseeable future. At the new rate, the stock is yielding 1.92%.

Piedmont Natural Gas (NYSE: PNY) For a second quarter in which Piedmont Natural Gas Co. Inc. increased its dividend for the 31st consecutive year, analysts expect the North Carolina-based utility to report a profit of $0.68 per share, which is two cents higher than a year ago. Revenue is expected to total $637.5 million, which is about the same as a year ago. Piedmont's results have tended to fall a bit short of analysts' estimates in recent quarters. The long-term EPS growth forecast is 7.0%, and the forward PE ratio estimate is 15.0, which is better than the industry average. The consensus recommendation remains to buy PNY. Shares are up 4.6% since the beginning of the year to $23.73, but they are still 13.6% lower than a year ago and still well below the 100-day moving average.

Prospect Capital Corporation
(NASDAQ: PSEC) June 23, 2009 announced today that it has
declared a fourth fiscal quarter (for the fiscal year ending June 30, 2009)
dividend of $0.40625 per share.
This dividend marks the Company’s 19th consecutive quarterly increase. The
dividend now represents an approximately 17.9% current annualized dividend
yield based on the closing stock price on J

Realty Income (NYSE: O), June 22, 2009 engages in the acquisition and ownership of commercial retail real estate properties in the United States. The monthly cash dividend was increased to $0.142375 per share from $0.1420625 per share. This represents the 6th increase for the past year. Tom A. Lewis, Chief Executive Officer of Realty Income, commented, "We are pleased that, despite challenging economic conditions, our operations allow us to once again increase the amount of the dividend we pay to our shareholders. With the payment of the July dividend we will have made 468 consecutive monthly dividend payments."

Realty Income calls itself The Monthly Dividend Company(R), since it has declared 468 consecutive common stock monthly dividends throughout its 40-year operating history and increased the dividend 54 times since Realty Income's listing on the New York Stock Exchange in 1994. The monthly dividend is supported by the cash flow from over 2,300 retail properties owned under long-term lease agreements with leading regional and national retail chains. Check my analysis of Realty Income (O). This dividend achiever currently yields 7.70%.

Stewardship Financial Corporation (NASDAQ: SSFN) June 17, 2009 parent company of Atlantic Stewardship Bank, declared a $0.095 per share cash dividend. Common stockholders of record as of July 15, 2009 will be paid the dividend on August 3, 2009. This represents a 5.0 percent increase over the third quarter cash dividend paid in 2008, as adjusted for the 5 percent stock dividend paid in November 2008.

In announcing the dividend, Chairman William C. Hanse and President and Chief Executive Officer Paul Van Ostenbridge stated,
"We are pleased to show our continued strong commitment to our shareholders by recognizing them with our forty-seventh consecutive cash dividend. We understand the challenges in the current banking environment; however we remain optimistic about the Corporation's future performance."

Stewardship Financial Corporation's subsidiary, Atlantic Stewardship Bank, has banking offices in Midland Park, Hawthorne (2 offices), Montville, North Haledon, Ridgewood, Pequannock, Waldwick, Wayne (3 offices), Westwood and Wyckoff, New Jersey. Atlantic Stewardship Bank, opened in 1985, is a community bank serving individuals and businesses, and is well known for tithing 10 percent of its pre-tax profits to Christian and local charitable organizations.

Supervalu Inc. (NYSE: SVU) May 28, 2009 approved a 1.45% increase in the annual indicated dividend to $0.70 per share from last year’s level of $0.69 per share. With this announcement, Supervalu Inc. ontinues its strong dividend history, having paid dividends for over 70 years. The new quarterly dividend rate of $0.175 per share will be effective with the September dividend payment. The previously announced quarterly dividend, which is payable on June 15, 2009 to shareholders of record as of June 1, 2009 will be paid at last year’s quarterly amount of $0.1725 per share.

 Supervalu Inc.’s board of directors today adopted a new annual share repurchase program authorizing the company to purchase up to $70 million of the company's common stock. Stock purchases will be made from time to time in open market purchases primarily from the cash generated from the settlement of stock options. The annual authorization program announced today replaces the existing $70 million share repurchase program authorized in May 2008 under which 641,500 shares were repurchased at a cost of $16.6 million.[SM]

Target Corporation (NYSE: TGT) June 12, 2009 announced a 6.25% increase in the company's quarterly dividend. The new quarterly dividend increases to 17 cents per share versus 16 cents per share in the same period a year ago. The projected dividend payout ratio is 24% based the January 2010 earnings per share estimate of $2.85. This compares to the 5-year average payout ratio of 13%. Lastly, Target carries an S&P Earnings & Dividend Quality Ranking of A+.

Tiffany & Co. (NYSE: TIF) declared a 3-for-2 split of its common stock, to be distributed on July 14 to holders of record on June 20. In lieu of fractional shares, cash will be paid. The company also approved a 50 percent increase in its quarterly cash dividend, so that its quarterly dividend will continue at the rate of 5 cents per share on all ”post-split” shares. The record date is Wednesday,
July 8, 2009. The payment date is Monday, July 20, 2009. Tiffany operates retail stores in New York, Atlanta, Beverly Hills, Boston, Chicago, Costa Mesa, Dallas and Houston.

Universal Health Realty Income Trust (NYSE: UHT) June 4. 2009 announced today that its Board of Trustees voted to increase the quarterly dividend by $.005 and pay a dividend of $.595 per share on June 30, 2009 to shareholders of record as of June 16, 2009. Universal Health Realty Income Trust, a real estate investment trust, invests in healthcare and human service related facilities including acute care hospitals, behavioral healthcare facilities, rehabilitation hospitals, sub-acute care facilities, surgery centers, childcare centers and medical office buildings. The Trust has forty-nine investments in fifteen states.

Village Super Market (NASDAQ: VLGEA) June 19, 2009. operates a chain of 23 ShopRite supermarkets in New Jersey and Pennsylvania. The company’s Board increased its quarterly cash dividend 7.5% to $0.215/share. The dividend is payable on July 23, 2009 to shareholders of record at the close of business on July 2, 2009. VLGEA has increased its dividend six consecutive years since began paying dividends in 2003. At the new rate, the stock is yielding 2.9%.TGT,SVU,ssfn, O,PSECPNY, PETM,ODC, OXY, ISBEN,