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Guru Stocks Raising Dividends: NEU, MAC, WMK, KMT, VLO

October 30, 2011 | About:
gurujk

gurujk

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This is the group of companies who raised their dividend during the week: Newmarket, Macerich Co., Weis Markets Inc., Kennametal Inc., and Valero Energy Corp.

Newmarket (NEU)

NewMarket Corporation through its subsidiaries, Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. Newmarket has a market cap of $2.74 billion; its shares were traded at around $198.16 with a P/E ratio of 14.1 and P/S ratio of 1.5. On October 27, the company increased its quarterly dividend October 27, the company increased its quarterly dividend 25% to $0.75 cents per share on the common stock of the corporation. The dividend is payable January 1, 2012 to shareholders of record at the close of business on Dec. 15, 2011. The yield based on the new payout is 1.5%.


Macerich Co. (MAC)

Macerich CO. is a self-administered, self-managed real estate investment trust which is engaged in the acquisition, ownership, redevelopment, management and leasing of regional shopping centers located throughout the United States. Macerich Co. has a market cap of $6.6 billion; its shares were traded at around $50 with a P/E ratio of 18.7 and P/S ratio of 8.7. On October 27, the company increased its quarterly dividend 10% to $0.55 per share of common stock. The dividend is payable on Dec. 8, 2011 to stockholders of record at the close of business on Nov. 11, 2011. The yield based on the new payout is 4.4%.

The Macerich Company announced results of operations for the quarter ended June 30, 2011 which included total funds from operations ("FFO") diluted of $66.7 million or $.47 per share-diluted, compared to $.57 per share-diluted for the quarter ended June 30, 2010.

Ken Heebner owns shares of MAC stock.

Senior Executive Vice President, Treasurer and CFO Hern Thomas and Director Dr. William P. Sexton sold shares of MAC stock.


Weis Markets Inc. (WMK)

Weis Markets Inc. is engaged principally in the retail sale of food and pet supplies. Weis Markets Inc. has a market cap of $1.06 billion; its shares were traded at around $39.31 with a P/E ratio of 15 and P/S ratio of 0.4. On October 27, the company increased its quarterly dividend to $0.30 per share and declared a special one-time dividend of $1.00 per share. The dividends are payable to shareholders of record as of November 1, 2011, payable on Nov. 21, 2011. The yield based on the new payout is 3.0%.

Mario Gabelli owns shares of WMK stock.

Kennametal Inc. (KMT)

Kennametal Inc. is a global supplier of tooling, engineered components and advanced materials consumed in production processes. Kennametal Inc. has a market cap of $3.18 billion; its shares were traded at around $39.95 with a P/E ratio of 13.4 and P/S ratio of 1.3. On October 27, the company increased its quarterly dividend 17% to $0.14 per share. The dividend is payable Nov. 29, 2011 to shareowners of record as of the close of business on Nov. 8, 2011. The yield based on the new payout is 1.4%.

Kennametal Inc. reported fiscal results for the first quarter 2011. For the first quarter, net income was $72 million, or 88 cents a share, compared to $34.9 million, or 42 cents a share the same quarter the prior year. Revenue rose 24% to $658.9 million.

Vice President Kevin R. Walling sold shares of KMT stock.

Valero Energy Corp. (VLO)

Valero Energy Corporation owns and operates refineries in the U.S. and Canada with a combined throughput capacity of approximately two million BPD, making it one of the nation's top refiners of petroleum products. Valero Energy Corp. has a market cap of $15.28 billion; its shares were traded at around $26.7 with a P/E ratio of 8.9 and P/S ratio of 0.2. On October 27, the company increased its quarterly dividend 300% to $0.15 per share. the dividend is payable on Dec. 14, 2011, to holders of record at the close of business on Nov. 16, 2011. The yield based on the new payout is 2.2%.

Valero Energy Corporation reported net income attributable to stockholders from continuing operations of $745 million, or $1.30 per share, for the second quarter 2011, compared to $520 million, or $0.92 per share, for the second quarter 2010.

Rating: 3.3/5 (3 votes)

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