GuruFocus Premium Membership

Serving Intelligent Investors Since 2004

Try It 100% FREE for 7 Days!

Free 7-day Trial
All Articles and Columns »

Guru Stocks Raising Dividends: Bank of the Ozarks, The TJX Companies Inc., Tanger Factory Outlet Centers, Monro Muffler Brake Inc., IDEX Corp.

April 18, 2010 | About:
Greenbackd

gurujk

5 followers
This is the group of companies who raised their dividend during the week: Bank of the Ozarks (NASDAQ:OZRK), The TJX Companies Inc. (NYSE:TJX), Tanger Factory Outlet Centers (NYSE:SKT), Monro Muffler Brake Inc. (NASDAQ:MNRO), and IDEX Corp. (NYSE:IEX).

Bank of the Ozarks (NASDAQ:OZRK)

Bank of the Ozarks, Inc. owns a subsidiary bank, Bank of the Ozarks and Ozark Capital Trust, a business trust. Bank of the Ozarks has a market cap of $634.7 million; its shares were traded at around $37.53 with a P/E ratio of 17.3 and P/S ratio of 2.9. GuruFocus rated Bank of the Ozarks the business predictability rank of 3.5-star.

The board of the directors of the bank announced a 7.10% increase in its quarterly dividend to 15 cents/share. The company is a member of the dividend achievers index, after raising distributions for 12 consecutive years. The stock yields 1.60%.

Bank of the Ozarks, Inc. January 14, 2010 announced that net income for 2009 was a record $36,826,000, an increase of 6.8% from $34,474,000 for 2008. This was the Company’s ninth consecutive year of record net income. Diluted earnings per common share for 2009 were a record $2.18, an increase of 6.9% from $2.04 for 2008. For the quarter ended December 31, 2009, net income was a record $9,648,000, an increase of 6.1% from net income of $9,091,000 for the fourth quarter of 2008. Diluted earnings per common share for the fourth quarter of 2009 were a record $0.57, an increase of 5.6% from $0.54 for the fourth quarter of 2008. Total assets were $2.77 billion at December 31, 2009, a decrease of 14.3% from $3.23 billion at December 31, 2008.

Chairman & CEO, 10% Owner George G Gleason Ii, EVP/Controller Gregory L Mckinney, and Director Harley Kennith Smith sold shares of OZRK stock.

The TJX Companies Inc. (NYSE:TJX)

TJX Companies, Inc. is an off-price retailer of apparel and home fashions in the U. The TJX Companies Inc. has a market cap of $18.7 billion; its shares were traded at around $45.68 with a P/E ratio of 16 and P/S ratio of 0.9. The TJX Companies Inc. had an annual average earning growth of 12.7% over the past 10 years. GuruFocus rated The TJX Companies Inc. the business predictability rank of 4.5-star.

The company raised its quarterly dividend by 25% to 15 cents/share. This was the 14th consecutive annual dividend increase for thisdividend achiever. The stock currently yields 1.30%.

The TJX Companies, Inc. announced sales and earnings results for the fiscal year and fourth quarter ended January 30, 2010. Net sales for the 52-week fiscal year were $20.3 billion, a 7% increase over the 53-week fiscal period last year. Net income from continuing operations for the 52-week fiscal year was $1.2 billion, and diluted earnings per share from continuing operations were $2.84 compared with $2.08 last year.

The TJX Companies Inc. is owned by John Hussman, Jean-Marie Eveillard, and David Williams.

President and CEO - TJX Carol Meyrowitz, SEVP, CFO Jeffrey G Naylor, and SEVP, Group President Ernie Herrman sold shares of TJX stock.

Tanger Factory Outlet Centers (NYSE:SKT)

Tanger Factory Outlet Centers, Inc. is a fully-integrated, self-administered and self-managed real estate investment trust which focuses exclusively on developing, acquiring, owning and operating factory outlet centers. Tanger Factory Outlet Centers has a market cap of $1.69 billion; its shares were traded at around $41.85 with and P/S ratio of 6.3. Tanger Factory Outlet Centers had an annual average earning growth of 3.7% over the past 10 years.

The company increased its quarterly distributions by 1.30% to 38.75 cents/share. This was the seventeenth consecutive year of annual dividend increases for this dividend achiever. The stock yields 3.60%.

Tanger Factory Outlet Centers, Inc. reported its financial results for the quarter and year ended December 31, 2009. Funds from operations available to common shareholders ("FFO"), a widely accepted supplemental measure of REIT performance, for the three months ended December 31, 2009, was $32.8 million, or $0.71 per share, as compared to FFO of $26.4 million, or $0.71 per share, for the three months ended December 31, 2008. For the year ended December 31, 2009, FFO was $114.0 million, or $2.71 per share, as compared to FFO of $88.1 million, or $2.36 per share, for the year ended December 31, 2008.

Tanger Factory Outlet Centers is owned by Ken Heebner.

President, CEO Steven B Tanger, President, CEO Steven B Tanger, and Executive VP, CFO, Secretary Frank C Jr Marchisello sold shares of SKT stock.

Monro Muffler Brake Inc. (NASDAQ:MNRO)

Monro Muffler/Brake, Inc. is a chain of company-operated and dealer-operated stores providing automotive undercar repair services in the United States. Monro Muffler Brake Inc. has a market cap of $721.3 million; its shares were traded at around $36.34 with a P/E ratio of 24.5 and P/S ratio of 1.5. The dividend yield of Monro Muffler Brake Inc. stocks is 0.8%. Monro Muffler Brake Inc. had an annual average earning growth of 8.1% over the past 10 years. GuruFocus rated Monro Muffler Brake Inc. the business predictability rank of 4-star.

The company’s board of directors authorized a 28.60% dividend increase to 9 cents/share. This will be the fifth consecutive year of annual dividend increases for the company. The stock yields 1%.

Marathon Oil Corporation November 3, 2009 reported third quarter 2009 net income of $413 million, or $0.58 per diluted share. Net income in the third quarter 2008 was $2.064 billion, or $2.90 per diluted share. For the third quarter 2009, adjusted net income was $436 million, or $0.61 per diluted share, compared to adjusted net income of $1.963 billion, or $2.76 per diluted share, for the third quarter of 2008.

CEO Robert G Gross, Executive V.P.-Finance Amico Catherine D, and President Heel John W Van sold shares of MNRO stock.

IDEX Corp. (NYSE:IEX)



IDEX CORP. designs, manufactures and markets a broad range of fluid handling and industrial products serving a diverse customer base in the United States and, internationally. Idex Corp. has a market cap of $2.77 billion; its shares were traded at around $34.14 with a P/E ratio of 22.6 and P/S ratio of 2.1.

The company raised its quarterly dividend by 25% to 15 cents/share. This is the first dividend increase since 2007. The stock yields 1.80%. An investment at the end of 1999, when the stock yielded 1.80%, would have generated a yield on cost of 4.40%.

IDEX Corporation announced its financial results for the three- and twelve-month periods ended December 31, 2009. Fourth quarter 2009 operating income, adjusted for restructuring related charges of $3.8 million, was $56 million and resulted in adjusted operating margin of 16.4 percent, up 220 basis points from the prior year (excluding prior year restructuring related charges of $12.7 million). On an as-reported basis, fourth quarter operating income of $52 million was 39 percent higher than the prior-year period.

IDEX Corp. is owned by John Rogers, John Keeley, and Ruane Cunniff.

Chairman and CEO Lawrence D Kingsley and VP - Group Executive John L Mcmurray sold shares of IEX stock.

About the author:

gurujk
Greenbackd is a former corporate advisory and securities lawyer working in value-oriented activist funds management.

Rating: 3.0/5 (1 vote)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK