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Guru Stocks Raising Dividends: ADP, INDB, WASH, PDCO, ASH

March 19, 2011 | About:
gurujk

gurujk

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This is the group of companies who raised their dividend during the week: Automatic Data Processing Inc., Independent Bank Corp., Washington Trust Bancorp Inc., Patterson Companies Inc., and Ashland Inc.

Automatic Data Processing Inc. (ADP)

Automatic Data Processing, Inc. is one of the largest providers of computerized transaction processing, data communication, and information services in the world. Automatic Data Processing Inc. has a market cap of $24.48 billion; its shares were traded at around $49.31 with a P/E ratio of 20.7 and P/S ratio of 2.7. On March 17th the company increased its quarterly dividend 18% to $0.58/share. The dividend is payable on May 9, 2011 to shareholders of record at the close of business on April 1, 2011. This marks the 29th consecutive year that Air Products has increased its dividend payment. The yield based on the new payout is 2.7%.

Ruane Cunniff, Tom Gayner, and Chris Davis own shares of ADP stock.

Corporate Vice President Alan Sheiness, Director Gregory D Brenneman, and Corporate Vice President Michael L Capone sold shares of ADP stock.

Independent Bank Corp. (INDB)

Independent Bank Corp. is a bank holding company for Rockland Trust Company. Independent Bank Corp. has a market cap of $558.9 million; its shares were traded at around $26.36 with a P/E ratio of 13.8 and P/S ratio of 2.3. On March 17th the company increased its quarterly dividend 6% to $0.19/share dividend which is payable on April 8, 2011, to stockholders of record as of the close of business on March 28, 2011. The yield based on the new payout is 3.0%.

Independent Bank Corp. announced net income of $11.8 million for the fourth quarter of 2010, compared to $11.1 million recorded in the third quarter. Total assets of $4.7 billion at December 31, 2010 are consistent with the prior quarter.

Private Capital owns shares of INDB stock.

Director John H Jr Spurr, Director Richard S Anderson, and Director Kevin J Jones bought shares of INDB stock.

Washington Trust Bancorp Inc. (WASH)

Washington Trust Bancorp, Inc. is a publicly-owned, registered bank holding company whose subsidiaries are permitted to engage in banking and other financial services and businesses. Washington Trust Bancorp Inc. has a market cap of $365.2 million; its shares were traded at around $22.55 with a P/E ratio of 15.3 and P/S ratio of 2.1. On March 17th the company increased its quarterly dividend 4.8% to $0.22/share. The dividend will be paid on April 14, 2011 to shareholders of record on March 31, 2011. The yield based on the new payout is 4.0%.

Washington Trust Bancorp Inc. filed Annual Report for the period ended 2010-12-31. At December 31, 2010, Washington Trust had total assets of $2.9 billion, total deposits of $2.0 billion and total shareholders equity of $268.9 million.

Mario Gabelli owns shares of WASH stock.

10% Owner David W Wallace and Director Barry G Hittner bought shares of WASH stock.

Patterson Companies Inc. (PDCO)

Patterson Companies, Inc. is a value-added distributor serving the dental, companion-pet veterinarian and rehabilitation supply markets. Patterson Companies Inc. has a market cap of $3.88 billion; its shares were traded at around $31.57 with a P/E ratio of 16.8 and P/S ratio of 1.2. On March 16th the company increased its quarterly dividend 20% to $0.12/share. The dividend is payable on April 28, 2011 to shareholders of record at the close of business on April 11, 2011. The yield based on the new payout is 1.5%.

Patterson Companies, Inc. reported consolidated sales of $824,650,000 for the third quarter of fiscal 2011 ended January 29, up slightly from $820,084,000 in the year-earlier quarter. Net income of $55,396,000 or $0.47 per diluted share was essentially unchanged from $56,049,000 or $.47 per diluted share in the third quarter of fiscal 2010.

Joel Greenblatt and Mario Gabelli own shares of PDCO stock.

President and CEO Scott P Anderson, Director James W Wiltz, and President - Subsidiary George L Henriques sold shares of PDCO stock.

Ashland Inc. (ASH)

Ashland Inc. is engaged in the business of providing products, services, and customer solutions throughout the world. Ashland Inc. has a market cap of $4.54 billion; its shares were traded at around $57.4 with a P/E ratio of 14.1 and P/S ratio of 0.5. On March 16th the company announced its intentions to increase its dividend 16.6% to $0.70/share from its current annual rate of $0.60/share, commencing with the June 15 dividend payment. The yield based on the new payout is 1.2%.

Jean-Marie Eveillard, George Soros, Mario Gabelli own shares of ASH stock.

CFO Lamar M Chambers, Vice President Robert M Craycraft, and Vice President Theodore L Harris sold shares of ASH stock.


Rating: 2.2/5 (6 votes)

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