Here are the five latest dividend-related developments featured on The Dynamic Dividend:
Avago's Budding Dividend Gets Another BoostAvago Technologies Limited (AVGO) declared a quarterly dividend of $0.09 per share this morning, which is a 12.5% improvement over its prior payout. This is the second consecutive quarter the analog semiconductor device company has raised its dividend, which was just initiated in December.
Within the same press release, Avago also announced a 15 million share repurchase authorization.
Avago launched a modest dividend of $0.07 per share at the end of 2010, and it’s quickly built momentum. The company raised its payout by a penny in March before doing the same again today.
Shares of AVGO closed Wednesday’s session trading at $33.41, where they now yield 1.08%.
Avago went public in August 2009, though its roots trace back more than 50 years to the components division of Hewlett-Packard Company (HPQ).
Bard Reaches 40 Consecutive Years of Dividend GrowthC.R. Bard (BCR) declared a quarterly dividend of $0.19 per share after today’s closing bell, a 6% improvement over the $0.18 paid each of the previous four quarters by the medical technology company. Bard is currently on pace to improve its dividend total for the 40th consecutive year.
This is the seventh consecutive year Bard has increased its quarterly dividend by a penny, which obviously has resulted in dwindling growth. A one-cent increase in 2005 juiced the company’s payout by 8.3%, whereas this time around it moves the needle just 5.6%.
Shares of BCR closed Wednesday’s session trading at $108.49, where they now yield just 0.70%.
Bard has improved its annual dividend total every year dating back to 1972, earning it Class C Dividend Dynamo status. Barring an unforeseen dividend cut before the end of the year — which would truly be a stunning development given the company’s paltry 10.7% forward payout ratio — the company will become aClass B Dividend Dynamo at the beginning of 2012.
Vail Resorts Initiates Quarterly DividendVail Resorts Inc. (MTN) declared a quarterly dividend of $0.15 per share within this morning’s third quarter earnings release, which will be the first time the company has returned cash to its shareholders.
Shares of MTN closed Wednesday’s session trading at $43.41, where they now feature a shiny new 1.38% dividend yield.
Analysts currently expect Vail to earn $1.35 per share in 2011, giving the mountain resort company a 44% forward payout ratio to start its dividend-paying era. This is one of the bolder payout ratios we’ve seen among recently initiated dividends, but the distribution isn’t all that risky: Vail is currently sitting on $169 million in cash and cash equivalents (up from just $51 million a year ago), while the new dividend will set the company back less than $22 million annually.
Triumph's Stock Split Will Double DividendTriumph Group, Inc. (TGI) announced a two-for-one stock split this morning. The aircraft component company also said it will maintain its current dividend rate after the split, effectively doubling its payout.
Although an unconventional way to go about it, this is the first dividend hike from Triumph, which has paid a dividend of $0.04 per share each quarter since initiating its payout in 2006. The company’s dividend will remain paltry even after the maneuver announced today, however.
Shares of TGI opened Thursday’s session trading at $92.25, where they currently feature a 0.17% dividend yield. On a post-split basis, the stock carries a 0.35% dividend yield.
Birner Dental Raises Dividend by 10%Birner Dental Management Services Inc. (BDMS) declared a quarterly dividend of $0.22 per share this morning, pushing its payout higher by 10%.
The operators of PERFECT TEETH dental practices have given shareholders six raises since initiating its quarterly dividend in 2004, pushing its payout higher by 487% over that short period. This dividend hike was announced earlier in the year, although it seems to have flown under the radar, and the increased payout wasn’t actually declared until today.
Shares of BDMS closed Wednesday’s session trading at $19.01, where they feature a 4.63% dividend yield.
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