Virtually everything in this world can be placed into a few basic categories. This is especially true for Dividend Stocks when looking at their historic performance and expectations for the future. Consider these three broad categories: The Good: As you might guess, these are the dividend stocks that are doing exactly what they should do – consistently raising their dividends each year. The Bad: Companies that held their dividends flat. The Ugly: Companies that cut their dividends.
Here are several companies in the 'Good' category that recently rewarded their shareholders with increased cash distributions:
Worthington Industries, Inc. (NYSE:WOR) operates as a diversified metal processing company focusing on steel processing and manufactured metal products. June 29th the company increased its quarterly dividend 20% to $0.12 per share. The dividend is payable on September 29, 2011, to shareholders of record September 15, 2011. his marks the 175th consecutive quarter that Worthington has paid a dividend since it became a public company in 1968. The yield based on the new payout is 2.3%.
Stewart Enterprises, Inc. (STEI) provides funeral and cemetery products and services in the death care industry in the United States and Puerto Rico. June 28th the company increased its quarterly dividend 17% to $0.035 per share. This dividend is payable on July 28, 2011 to shareholders of record as of the close of business on July 14, 2011. The yield based on the new payout is 1.9%.
General Mills, Inc. (NYSE:GIS) engages in the manufacture and marketing of branded consumer foods worldwide. June 28th the company increased its quarterly dividend 9% to $0.305 per share. The dividend is payable August 1, 2011, to shareholders of record July 11, 2011. The yield based on the new payout is 3.3%.
Aircastle LTD (NYSE:AYR) engages in the acquisition, lease, and sale of high-utility commercial jet aircraft to passenger and cargo airlines worldwide. June 27th the company increased its quarterly dividend 25% to $0.125 [er share. The dividend is payable on July 15, 2011 to shareholders of record on July 7, 2011. The yield based on the new payout is 4.0%.
Oil-Dri Corporation of America (NYSE:ODC) engages in the development, manufacture, and marketing of sorbent products in the United States and internationally. June 23rd the company increased its quarterly dividend 6.25% to $0.17 per share. The dividend is payable on September 2, 2011, to stockholders of record at the close of business on August 19, 2011. The Company has paid cash dividends continuously since 1974 and increased dividends annually for the past eight years. The yield based on the new payout is 3.2%.
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 stocks. See a list of all my income holdings here.
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