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Dividend Roundup: CLF, TRGP, NGLS, PAA, PCAR, EEI

Here are the five latest dividend-related developments featured on The Dynamic Dividend:

Cliffs Natural Resources Doubles Quarterly Dividend

Cliffs Natural Resources (CLF) declared a quarterly dividend of $0.28 per share this evening, double the rate paid each of the previous five quarters by the mining and natural resources company.

Shares of CLF closed Monday’s session trading at $95.04, where they now feature a 1.18% dividend yield. Prior to today’s dividend hike, the stock’s yield hadn’t topped 1% since July 28, 2010.

This is the second consecutive year Cliffs has given its shareholders a raise of at least 100%, following last year’s 119% boost from a temporarily-depressed rate.

Targa Resources Ups Dividend And Distribution Again

Targa Resources Corp. (TRGP) and its limited partnership, Targa Resources Partners LP (NGLS), announced increased payments to investors this evening.

Targa Resources Corp. declared a quarterly dividend of $0.29 per share, a 6.4% increase over the $0.2735 it paid last period — which was its first full quarter as a dividend-paying company. Shares of TRGP closed at $33.48 on Monday, where they now feature a 3.46% dividend yield.

Targa Resources Partners LP (NGLS) declared a quarterly distribution of $0.57 per unit, a 2.2% increase over its previous payout of $0.5575 per share and an 8.1% improvement over its distribution from the same period last year. The partnership has now raised its distribution for five consecutive quarters. Each of the previous four increases were for exactly one penny, so this is a nice breakout from that trend. NGLS closed at $34.19 on Monday, where it now yields 6.45%.

Targa Resources Partners LP is a limited partnership formed by Targa Resources Corp. to own, operate, acquire and develop a portfolio of midstream energy assets.

PAA Boosts Distribution For Eighth Straight Quarter

Plains All American Pipeline, L.P. (PAA) declared a quarterly distribution of $0.9825 per unit today, a 1.3% increase over the $0.97 paid last quarter and a 4.2% improvement over the distribution from the same period last year.

PAA closed Friday’s session trading at $64.39, where they now feature a 6.10% dividend yield.

This marks the eighth consecutive quarter the partnership has increased its payout, though it has pushed its payout up by just 8.6% over that span. Since it began returning cash to unitholders in 1999, Plains All American has improved its distribution rate by a total of 118%.

PACCAR Returns Dividend to Peak Level With 50% Hike

PACCAR (PCAR) declared a quarterly dividend of $0.18 per share today, which is a 50% improvement over the $0.12 paid each of the previous three quarters by the truck manufacturer.

The move returns PACCAR’s quarterly dividend to its all-time high. The company had strung together years of consistent dividend growth before slashing its payout in half in 2009. This is the second post-cut dividend hike from PACCAR, which has supplemented its regular dividend output with special payouts in 19 of the last 20 years.

Shares of PCAR are currently trading at $50.25, where they now feature a 1.43% dividend yield.

PACCAR’s yield may be underwhelming, but the company has managed to juice shareholders returns with the aforementioend special dividends. From 2001 to 2010, the company distributed an additional $5.13 per share via special payouts (or more than 10% of its current share price).

Ecology and Environment's Biggest Dividend Hike Ever

Ecology and Environment (EEI) declared a semiannual dividend of $0.24 per share this morning, a 9% improvement over the $0.22 paid previously by the global environmental company.

This is the 17th time Ecology and Environment has given its shareholders a raise since going public 24 years ago, and the first time the company has raised its payout by more than a penny.

Shares of EEI opened at $16.93 on Thursday, where they now feature a 2.84% dividend yield.

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Dynamic Dividend
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