10-year

10-Year Anniversary Promotion (20% off)

Join GuruFocus Premium Membership Now for Only $279/Year

Once a decade discount

Save up to $500 on Global Membership.

Don't Miss It !

Free 7-day Trial
All Articles and Columns »

Notable Dividend Hikes: ALV, PAG, AUY, MR, TCRD

May 10, 2011 | About:
Dynamic Dividend

Dynamic Dividend

4 followers
These are the dividend hikes featured by The Dynamic Dividend today: Mindray Medical International Ltd (MR), THL Credit, Inc. (TCRD), Autoliv Inc. (ALV), Penske Automotive Group, Inc. (PAG) and Yamana Gold, Inc. (AUY).

Mindray Medical Gets Boost From Big First Quarter

Mindray Medical International Ltd (MR) reported first quarter results that beat Wall Street’s expectations yesterday, launching shares up more than 10% to a new 2011 high in today’s trading.

The Chinese medical device maker posted adjusted earnings of $0.36 per share on $181 million in revenue, topping the consensus estimates for both profit ($0.33 per share) and sales ($170 million).

Shares of MR are currently trading at $30.48 (+10.60%), which is a new high for the year. At that level, the stock features a 0.98% dividend yield. The company gave shareholders a 50% raise earlier this year.

Mindray had a short three-week stint on my Dividend Stock Value Rankings earlier this year, debuting at #25 when shares fell below $26 on March 28.

THL Credit Continues Rapid Dividend Growth

THL Credit, Inc. (TCRD) declared a quarterly dividend of $0.25 per share within its first quarter earnings release, which represents an 8.7% improvement over its previous payout. The business development company has now raised its dividend each quarter since initiating its payout last August.

THL has had an eventful first year as a public company. The BDC had investments in just five companies at the time of its IPO last April, and has already expanded its portfolio to include 17 companies. THL initiated a quarterly dividend of $0.05 per share in August, and has already quintupled that payout.

Shares of TCRD are currently trading at $14.14, where they now feature a 7.07% dividend yield.

Autoliv Raises Dividend to an All-Time High

Autoliv Inc. (ALV) declared a quarterly dividend of $0.45 per share today, pushing its payout higher for the fourth consecutive quarter.

The new rate represents a 4.7% increase over last quarter’s dividend, and a 50% improvement over the company’s payout from the same period last year – when Autoliv reinstated its dividend after a five quarter hiatus. The company has now raised its payout every quarter since bringing it back, eventually matching its pre-cut peak back in December and then pushing its dividend to a new all-time high in February.

Shares of ALV received a nice pop from the news this afternoon, and are currently trading at $79.22 (+2.26%). At that level, the stock now features a 2.27% dividend yield.

Penske Automotive Jump Starts Quarterly Dividend

Penske Automotive Group, Inc. (PAG) announced the reinstatement of its dividend after today’s closing bell.

The auto retailer declared a quarterly dividend of $0.07 per share, which will be its first since a $0.09 payout in late 2008. Prior to halting its dividend, Penske had increased its annual payout total in each of its five full years as a dividend-paying company.

Analysts currently expect Penske to earn $1.77 per share in 2012, which gives the company a very manageable 15.8% forward payout ratio to begin its latest dividend-paying era.

Shares of PAG closed Tuesday’s session trading at $22.02, where they now feature a 1.27% dividend yield.

Yamana Gold Gives Shareholders Another Big Raise

Yamana Gold, Inc. (AUY) declared a quarterly dividend of $0.045 per share today, a 50% improvement over the $0.03 paid previously by the Canada-based gold producer.

Yamana has now raised its dividend four times since the beginning of last year, boosting its payout by 350% over that short period. Up until last June, the company had never paid a quarterly dividend of more than $0.01 per share.

Shares of AUY closed Tuesday’s session trading at $11.89, where they now feature a 1.51% dividend yield.

About the author:

Dynamic Dividend
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 4.4/5 (5 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK