This company is looking to deliver value to its investors based on its chairman and CEO's quote from September 27:
Despite the uncertain environment, we remain focused on meeting our customer commitments and increasing the efficiency of our operations. Delivering value to our customers enables us to generate value for our investors.For ten consecutive years this company has increased its dividend at a double-digit rate. Once again it has kept the string alive by increasing its dividend at a double-digit rate and is now yielding 5%. Who is this company? It is:
Lockheed Martin Corp. (NYSE:LMT), the world's largest military weapons manufacturer, which is also a significant supplier to NASA and other non-defense government agencies. LMT receives about 93% of its revenues from global defense sales. September 27, the company increased its quarterly dividend 15% to $1.15 per share. The dividend is payable Dec. 28, 2012, to holders of record as of the close of business on Dec. 3, 2012. The yield based on the new payout is 5.0%.
Below are several other companies that have recently increased their cash dividends to shareholders:
Artesian Resources Corporation (NASDAQ:ARTNA) provides water, wastewater and engineering services on the Delmarva Peninsula. September 26, the company increased its quarterly dividend 2.5% to $0.2027 per share. The dividend is payable on Nov. 21, 2012, to shareholders of record at the close of business on Nov. 12, 2012. The yield based on the new payout is 3.5%.
Hickory Tech Corporation (HTCO) provides integrated communications services to business and residential customers in the Midwest. September 25, the company increased its quarterly dividend 3.5% to $0.145 per share. The dividend is payable December 5 to shareholders of record on November 15. The yield based on the new payout is 5.6%.
Horizon Bancorp (NASDAQ:HBNC) operates as the bank holding company for Horizon Bank N.A. that provides commercial and retail banking services in northwestern Indiana and southwestern Michigan. September 21, the company increased its quarterly dividend 15.3% to $0.15 per share. The dividend is payable Oct. 12, 2012, to shareholders of record on Sept. 28, 2012. The yield based on the new payout is 2.1%.
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: Long LMT in my Dividend Growth Portfolio. See a list of all my dividend growth holdings here.
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