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Dividend Roundup: JAKKS, TESS, BHB, CRR, ATR

July 20, 2011 | About:
Here are the five latest dividend-related developments featured on The Dynamic Dividend:

JAKKS Pacific Initiates Quarterly Dividend; Yields 2.2%

JAKKS Pacific (JAKK) declared a quarterly dividend of $0.10 per share within itssecond quarter results this morning. It will be the first time the designer and marketer of toys and related consumer products has ever returned cash to its shareholders.

JAKKS earned $0.16 per share on $131.9 million in revenue during the second quarter, edging the consensus views for both profit ($0.15 per share) and sales ($129.07 million). Net income rose 43% year over year, while net sales grew by 7%.

The company also reiterated its full-year guidance, saying it plans to earn $1.32 to $1.35 per share on $770 to $775 million. The average analyst forecast currently calls for a higher profit ($1.41 per share) and more revenue ($781 million).

Shares of JAKKS closed Tuesday’s session trading at $17.84, where they now feature a shiny new 2.24% dividend yield.

Analysts currently expect JAKKS to earn $1.61 per share next year, which gives the company a comfortable 24.8% forward payout ratio to begin its dividend-paying era.

TESSCO Delivers Blowout First-Quarter, 50% Dividend Hike

TESSCO Technologies (TESS) declared a quarterly dividend of $0.15 per share within its stellar first quarter results, which is a 50% increase over its already-fat payout.

This is the second dividend hike from TESSCO since it began returning cash to shareholders in 2007, following a 50% increase last year. The wireless systems company has now raised its payout by a total of 125% in a little less than two years as a dividend-paying company.

As for its first-quarter performance: The company earned $0.57 per share on $163.5 million in revenue, crushing the consensus estimates for both profit ($0.40 per share) and sales ($150.6 million). Net income more than doubled (+121%) year over year, while revenue grew by 14%.

For the full year, the company expects to earn between $1.70 and $2.10 per share. That’s a wide range, but one that sits completely above the average analyst view of just $1.33 per share.

Shares of TESS closed Tuesday’s session trading at $12.07, where they now feature a 4.97% dividend yield — one of the largest payouts in the tech sector.

Bar Harbor Bankshares Ups Dividend Again

Bar Harbor Bankshares (BHB) declared a quarterly dividend of $0.275 per share today, which is a 1.8% increase over its previous payout and a 5.8% improvement over the dividend paid during the same period last year by the bank holding company.

This marks the third time in the last four quarters Bar Harbor has given its shareholders a raise. Prior to the recent flurry of dividend hikes, the parent of Bar Harbor Trust Services had held its payout flat for more than two years. In all, Bar Harbor has raised its dividend 15 times since it began returning cash to shareholders in 1997, increasing its payout by a total of 72%.

Shares of BHB closed Tuesday’s session trading at $28.35, where they now feature a 3.88% dividend yield — one of the fattest payouts within its industry.

Carbo Ceramics Raises Dividend by 20%

Carbo Ceramics (CRR) announced a 20% increase to its dividend after today’s closing bell. The world’s largest supplier of ceramic proppant is currently on pace to improve its dividend output for the 11th consecutive year.

Carbo raised its quarterly dividend from $0.20 to $0.24 per share, which pushes its forward payout ratio to a little under 14%. That’s remarkably low for a company that’s raised its dividend by 380% since 2001, but Carbo’s earnings have been on a fantastic run over the last decade.

In my July dividend hike preview (“These Six Companies Will Raise Their Dividends in July”) I called for a record hike of 50-75% just to return the stock’s yield to relevancy, but Carbo elected to increase its payout by “just" 20%. The Class E Dividend Dynamo has now given its shareholders ten raises, with nine being double-digit raises.

Shares of CRR closed Tuesday’s session trading at $175.07, where they now feature a 0.55% dividend yield.

AptarGroup's Biggest Dividend Hike Since 2005

AptarGroup (ATR) declared a quarterly dividend of $0.22 per share within today’ssecond quarter results, which is a 22% improvement over the $0.18 paid previously by the supplier of dispensing systems.

This is the largest raise AptarGroup has given its shareholders since a 33% dividend hike back in 2005. The Class E Dividend Dynamo is currently on pace to improve its dividend output for the 18th consecutive year.

As for its second quarter results, the company earned $0.74 per share on $614.9 million in revenue, missing the average profit estimate by a penny despite blowing away the average sales view of $568.1 million.

In a jam-packed press release, the company also announced the retirement of its CEO at the end of the year and the the addition of 4 million shares to its existing buyback plan, which had a balance of roughly 900,000 shares remaining.

Shares of ATR closed Tuesday’s session trading at $53.54 and were unmoved in extended trading. At its current level, the stock now features a 1.64% dividend yield.

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Dynamic Dividend
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