Here are the five latest dividend-related developments featured on The Dynamic Dividend:
Stage Stores Boosts Dividend by 20%Stage Stores Inc. (NYSE:SSI) declared a quarterly dividend of $0.09 per share this afternoon, which is a 20% improvement over the $0.075 paid each of the previous four quarters by the specialty department store retailer.
This is the second consecutive year Stage Stores has given its shareholders a substantial raise, following last year’s 50% dividend hike. In all, the company has increased its dividend by an incredible total of 440% since initiating its payout in 2005.
Shares of SSI closed Monday’s session trading at $14.42, where they now feature a 2.50% dividend yield.
Iron Mountain Gives Shareholders Another Big RaiseIron Mountain Incorporated (NYSE:IRM) declared a quarterly dividend of $0.25 per share this morning, pushing its payout higher by 33%. This is the second big dividend hike from the information management company in the last six months.
Iron Mountain tripled its payout in December, just 10 months after initiating its quarterly dividend. The company succumbed to pressure from activist hedge fund Elliott Management back in April when it agreed to, among other things, return more cash to shareholders through share repurchases and dividends. Today’s announcement will obviously help honor that commitment.
Shares of IRM closed at $31.91 on Friday, where they now feature a 3.13% dividend yield.
Chesapeake's First Dividend Hike in Three YearsChesapeake Energy Corporation (NYSE:CHK) announced a 17% increase to its quarterly dividend this morning, the natural gas company’s first dividend hike in three years.
Chesapeake will distribute $0.0875 per share on a quarterly basis moving forward, or 16.7% more than the $0.075 it paid each of the previous 12 quarters. Prior to the recent flatness, Chesapeake had increased its annual dividend total for seven consecutive years.
Shares of CHK closed Friday’s session trading at $29.24, where they now feature a 1.20% dividend yield.
National Fuel Raises Dividend For 41st Straight YearNational Fuel Gas Company (NYSE:NFG) declared a quarterly dividend of $0.355 per share after today’s closing bell, pushing its payout higher for the 41st consecutive year.
The new rate is a 2.9% improvement over the $0.345 paid each of the previous four quarters by the integrated energy company. This is the third consecutive year National Fuel has raised its quarterly payout by a penny, and its tenth consecutive year with a sub-5% dividend hike.
Shares of NFG closed Thursday’s session trading at $67.23, where they now feature a 2.11% dividend yield.
National Fuel has improved its annual dividend total every year dating back to 1971, making it a Class B Dividend Dynamo. The company has made uninterrupted dividend payments for 109 consecutive years.
Sun Hydraulics Gives Shareholders a 50% Raise (Via Split)Sun Hydraulics Corporation (NASDAQ:SNHY) announced a 50% stock dividend (or three-for-two stock split) this afternoon. The manufacturer of hydraulic system components plans to maintain its $0.09 per share quarterly dividend after the new shares are distributed, effectively raising its payout by 50%.
This is the first dividend hike in four years from Sun Hydraulics, which seems to prefer handing out additional shares to simply raising its payout. The company made the same maneuver in 2007, holding its quarterly dividend at $0.09 per share through a 50% stock dividend.
Shares of SNHY closed Thursday’s session trading at $43.10, where they currently carry a 0.84% dividend yield. On a post-split basis, the stock yields 1.25%.
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