Some companies want to give their shareholders something special. When you have a mountain of cash sitting on your balance sheet you can make your shareholders really happy by sharing the wealth in the form of special dividend, and that's what these two companies decided to do this week...
August 27th, AOL Inc. (NYSE:AOL), a Web services company, announced a special, one-time, cash dividend of $5.15 per share. The dividend is payable on December 14, 2012 to shareholders of record at the close of business on December 5, 2012. That's more than a 15% yield for the special dividend.
Not to be outdone, Fisher Communications, Inc. (NASDAQ:FSCI), an integrated media company, announced on the same day a $10.00 per share special one-time dividend. The dividend is payable on October 19, 2012 to shareholders of record on September 28, 2012. That's nearly a 28% yield for the special dividend.
Below are couple of other companies increasing their cash dividends the traditional way during the last week:
Harris Corporation (NYSE:HRS) operates as a communications and information technology company that serves government and commercial markets worldwide. August 27th the company increased its quarterly dividend 12% to 37 cents per share. The dividend is payable September 19, 2012, to shareholders of record September 7, 2012. The yield based on the new payout is 3.2%.
Triangle Capital Corporation (NYSE:TCAP) is a business development company specializing in private equity and venture capital investments. August 29th the company increased its quarterly dividend 4% to $0.52 per share. The dividend is payable September 26, 2012 to shareholders of record September 26, 2012. The yield based on the new payout is 8.5%.
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 securities. See a list of all my dividend growth holdings here.
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