Here are the five latest dividend-related developments featured on The Dynamic Dividend:
This marks the third time Altera has increased its payout since it began returning cash to shareholders in 2007. The company has now doubled its original quarterly rate of $0.04 per share.
As for its second quarter performance, Altera earned $0.68 per share on $548.4 in revenue, beating the consensus profit estimate ($0.64 per share) while falling just short of the average sales view ($548.8 million). Net income rose 19% year-over-year while revenue grew by 17%.
Looking ahead, the company expects third quarter sales to grow 2-6% sequentially. The average analyst estimate currently calls for third quarter revenue of just $549.75 million, which would only beat the second quarter sales figure reported today by 0.25%.
Shares of ALTR rose to $44.40 (+1.93%) in extended trading, building on a 2.37% gain from today’s regular market hours. At its current level, the stock now features a 0.72% dividend yield.
Nu Skin began returning cash to its shareholders at the start of 2001, and had raised its payout every four quarters like clockwork until this announcement. Combined with the dividend hike from earlier this year, the company is currently on pace to grow its dividend total by 18% in 2011, which would be its biggest year-over-year improvement since a 20% advance in 2002. Nu Skin has now raised its payout by a total of 220% in a little over a decade as a dividend-paying company.
Shares of NUS opened Monday’s session trading at $40.00, where they now feature a 1.60% dividend yield.
This marks the third consecutive quarter the Crosstex Energy companies have given their investors a raise. The duo reinstated their payouts ahead of schedule last October before pushing them higher in both January and April.
Shares of XTEX closed Monday’s session trading at $17.87, while XTXI ended the day at $12.87. At those levels, they now yield 6.94% and 3.11%, respectively.
Management will recommend the rate increase take effect beginning with the company’s third quarter dividend. The move is still subject to board approval, which is the reason for all this “proposed” and “would be” talk.
Within the same release, the company also announced the a handful of fleet developments: The purchase of a secondhand containership, charter extensions for three existing vessels, and new charter agreements for two existing vessels.
Shares of CMRE closed Monday’s session trading at $16.54, where the proposed rate produces a 6.53% dividend yield.
This marks the ninth consecutive year Lindsay has given its shareholders a raise, and the eighth consecutive year the company has increased its quarterly payout by a half-penny. Each of its dividend hikes during the streak has come in July, making it one of the easiest forecasts in my July dividend hike preview (“These Six Companies Will Raise Their Dividends in July”).
Shares of LNN closed Monday’s session trading at $68.61, where they now feature a 0.53% dividend yield.
Alterra Reports Mixed Q2, Raises Dividend by 33%
Altera Corporation (ALTR, Financial) declared a quarterly dividend of $0.08 per share within its mixed second quarter results after today’s closing bell, which is a 33% improvement over the $0.06 paid previously by the semiconductor company.This marks the third time Altera has increased its payout since it began returning cash to shareholders in 2007. The company has now doubled its original quarterly rate of $0.04 per share.
As for its second quarter performance, Altera earned $0.68 per share on $548.4 in revenue, beating the consensus profit estimate ($0.64 per share) while falling just short of the average sales view ($548.8 million). Net income rose 19% year-over-year while revenue grew by 17%.
Looking ahead, the company expects third quarter sales to grow 2-6% sequentially. The average analyst estimate currently calls for third quarter revenue of just $549.75 million, which would only beat the second quarter sales figure reported today by 0.25%.
Shares of ALTR rose to $44.40 (+1.93%) in extended trading, building on a 2.37% gain from today’s regular market hours. At its current level, the stock now features a 0.72% dividend yield.
Nu Skin Announces Surprise 19% Dividend Hike
Nu Skin Enterprises (NUS, Financial) declared a quarterly dividend of $0.16 per share today, which is a 19% improvement over its previous two payouts. The anti-aging companygave its shareholders an 8% raise in February, so this is a welcome breakout from its historic practice of increasing its payout once each year.Nu Skin began returning cash to its shareholders at the start of 2001, and had raised its payout every four quarters like clockwork until this announcement. Combined with the dividend hike from earlier this year, the company is currently on pace to grow its dividend total by 18% in 2011, which would be its biggest year-over-year improvement since a 20% advance in 2002. Nu Skin has now raised its payout by a total of 220% in a little over a decade as a dividend-paying company.
Shares of NUS opened Monday’s session trading at $40.00, where they now feature a 1.60% dividend yield.
Crosstex Companites Continue to Push Payouts Higher
Crosstex Energy LP (XTEX, Financial) declared a quarterly distribution of $0.31 per unit today, a 6.9% increase over last quarter’s payout. The partnership’s two percent general partner interest is owned by Crosstex Energy, Inc. (XTXI, Financial), which raised its dividend by 11.1% to $0.10 per share within the same press release.This marks the third consecutive quarter the Crosstex Energy companies have given their investors a raise. The duo reinstated their payouts ahead of schedule last October before pushing them higher in both January and April.
Shares of XTEX closed Monday’s session trading at $17.87, while XTXI ended the day at $12.87. At those levels, they now yield 6.94% and 3.11%, respectively.
Costamare to Deliver First Dividend Hike
Costamare (CMRE, Financial) announced a proposed 8% increase to its dividend this evening, which would push its quarterly payout up to $0.27 per share. It would be the first dividend hike from the international shipping company, which initiated its dividend in January.Management will recommend the rate increase take effect beginning with the company’s third quarter dividend. The move is still subject to board approval, which is the reason for all this “proposed” and “would be” talk.
Within the same release, the company also announced the a handful of fleet developments: The purchase of a secondhand containership, charter extensions for three existing vessels, and new charter agreements for two existing vessels.
Shares of CMRE closed Monday’s session trading at $16.54, where the proposed rate produces a 6.53% dividend yield.
Lindsay Raises Dividend For Ninth Consecutive Year
Lindsay Corporation (LNN, Financial) declared a quarterly dividend of $0.09 per share after today’s closing bell, which is a 5.9% improvement over the $0.085 paid each of the previous four quarters by the designer and manufacturer of irrigation systems.This marks the ninth consecutive year Lindsay has given its shareholders a raise, and the eighth consecutive year the company has increased its quarterly payout by a half-penny. Each of its dividend hikes during the streak has come in July, making it one of the easiest forecasts in my July dividend hike preview (“These Six Companies Will Raise Their Dividends in July”).
Shares of LNN closed Monday’s session trading at $68.61, where they now feature a 0.53% dividend yield.
