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This Company Delivers Dividend Increases, Not Bad Emails
Posted by: Dividends4Life (IP Logged)
Date: November 26, 2012 11:22AM

George was born in Buffalo, N.Y., in 1860. He worked in a Chicago slaughterhouse before becoming a traveling wool and hide buyer. His travels took him to Austin, Minn., where he decided to settle. He borrowed $500 to open a business. In the early days, to make ends meet, George continued to trade in hides, eggs, wool and poultry. Joining George in November 1891 was his 14-year-old youngest brother, Benjamin. By the end of 1891 his company employed six men.

In 1893, two additional brothers, Herman and John, joined the business. The remaining members of the family moved to Austin in 1895 and joined the growing business. George turned to full-time management in 1899 and turned his focus on increasing production. In 1901, the plant was expanded and the business was incorporated.

Today, George's little company has over 19,000 employees and annual sales of over $7.8 billion. The company has a presence in the international marketplace through joint ventures and placement of personnel in strategic foreign locations such as Australia, Canada, China, Japan and the Philippines. In addition it has a minority position in companies in Mexico and the Philippines. What company is this?

Hormel Foods Corporation (HRL)

The company engages in the production and marketing of various meat and food products. Its meat products include fresh, frozen, cured, smoked, cooked and canned meat, including SPAM. Nov. 20, the company increased its quarterly dividend 13.3% to $0.17 per share. The dividend is payable Feb. 15, 2013, to stockholders of record at the close of business on Jan. 21, 2013. The yield based on the new payout is 2.3%.

Below are several other companies that have recently increased their cash dividends to shareholders:

Becton, Dickinson and Company (BDX), a medical technology company, develops, manufactures, and sells medical devices, instrument systems, and reagents worldwide. Nov. 20, the company increased its quarterly dividend 10% to $0.495 per share. The dividend is payable Dec. 31, 2012 to holders of record on Dec. 10, 2012. The yield based on the new payout is 2.6%.

SBT Bancorp Inc. (SBTB) operates as the holding company for The Simsbury Bank & Trust Company Inc. that provides various banking and investment services to individual consumers and small businesses in Connecticut. Nov. 20, the company increased its quarterly dividend 17% to $0.14 per share. The dividend is payable on Dec. 17, 2012 to shareholders of record on Dec. 3, 2012. The yield based on the new payout is 2.6%.

International Game Technology (IGT) engages in the design, development, manufacture, and marketing of electronic gaming equipment and systems worldwide. Nov. 20, the company increased its quarterly dividend 17% to $0.07 per share. The dividend is payable Dec. 31, 2012 to shareholders of record on Dec. 19, 2012. The yield based on the new payout is 2.1%.

Erie Indemnity Company (ERIE) operates as a managing attorney for the Erie Insurance Exchange in the U.S. Nov. 19, the company increased its quarterly dividend 7.2% to $0.5925 per share. The dividend is payable Dec. 21, 2012, to shareholders of record as of the close of business on Dec. 7, 2012, with a dividend ex-date of Dec. 5, 2012. The yield based on the new payout is 3.6%.

South Jersey Industries Inc. (SJI) engages in the purchase, transmission and sale of natural gas for residential, commercial and industrial customers. Nov. 19, the company increased its quarterly dividend 10% to $0.4425 per share. The dividend is payable Dec. 28, 2012 to shareholders of record at the close of business Dec. 10, 2012. This marks the 14th year in a row that SJI has increased its dividend. The yield based on the new payout is 3.7%.

Montpelier Re Holdings Ltd. (MRH) provides insurance and reinsurance solutions worldwide. Nov. 19, the company increased its quarterly dividend 9.5% to $0.115 per share. The dividends are payable on or before Jan. 15, 2013, to shareholders of record as of Dec. 31, 2012. The yield based on the new payout is 2.2%.

Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Full Disclosure: No position in the aforementioned securities. See a list of all my dividend growth holdings here.

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Stocks Discussed: HRL, BDX, SBTB, IGT, ERIE, SJI, MRH,
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