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Guru Stocks Raising Dividends: General Mills Inc., MSC Industrial Direct Co. Inc., FreeportMcMoRan Copper & Gold Inc., Gouverneur Bancorp Inc

July 10, 2010 | About:
guruek

gurujk

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This is the group of companies who raised their dividend during the week: General Mills Inc. (GIS), MSC Industrial Direct Co. Inc. (MSM), FreeportMcMoRan Copper & Gold Inc. (FCX), and Gouverneur Bancorp Inc (GOV)

General Mills Inc. (GIS)

General Mills, Inc. is one of the producers of packaged consumer foods and markets its products primarily through its own sales organizations, supported by advertising and other promotional activities. General Mills Inc. has a market cap of $23.99 billion; its shares were traded at around $36.15 with a P/E ratio of 15.7 and P/S ratio of 1.6. On June 28th the company increased its quarterly dividend 17% to $0.28/share. The dividend is payable August 2, 2010, to shareholders of record July 12, 2010. The ex-dividend date is July 8, 2010. The yield based on the new payout is 3.15%. Ken Powell, DIS’s Chairman and Chief Executive Officer stated, “Strong and growing cash dividends are an important component of General Mills’ total return to our shareholders. The dividend increase announced today is a reflection of our company’s robust financial condition and excellent future growth prospects.”

General Mills reported financial results for the third quarter of fiscal 2010. Net sales for the 13 weeks ended February 28, 2010, grew 3 percent to $3.63 billion. Third-quarter net earnings totaled $332 million, diluted earnings per share would total $0.97 for this year's third quarter, up 23 percent from $0.79 last year.

General Mills Inc. is owned John Hussman, Ruane Cunniff, and Dodge & Cox.

Chairman of the Board & CEO Kendall J Powell, EVP, Worldwide Sales & Channel Jeffrey J Rotsch, and VP, Controller Richard O Lund sold shares of GIS stock.

MSC Industrial Direct Co. Inc. (MSM)

MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. Msc Industrial Direct Co. Inc. has a market cap of $3.1 billion; its shares were traded at around $49.1 with a P/E ratio of 23.7 and P/S ratio of 2. June 30th the company increased its quarterly dividend 10% to $0.22/share. The dividend is payable on July 27, 2010 to shareholders of record at the close of business on July 13, 2010. The ex-dividend date is July 9, 2010. The yield based on the new payout is 1.74%.

MSC INDUSTRIAL DIRECT CO., INC. reported financial results for its fiscal 2010 third quarter ended May 29, 2010. For the fiscal 2010 third quarter, net sales rose 28.5% to $450.4 million, compared with $350.5 million in the prior year period. Operating income increased 55.6% in the fiscal 2010 third quarter to $70.4 million, or 15.6% of net sales, from $45.2 million, or 12.9% of net sales, in the third quarter of fiscal 2009. For the third quarter of fiscal 2010, the Company reported net income of $44.2 million, an increase of 59.4% over net income of $27.8 million in the third quarter of fiscal 2009. Diluted earnings per share in the fiscal 2010 third quarter were $0.69 (based on 63.3 million diluted shares outstanding), compared to $0.44 (based on 62.4 million diluted shares outstanding) in the same period a year ago, an increase of 56.8%.

MSC Industrial Direct Co. Inc. is owned by Kenneth Fisher and Ron Baron.

PRESIDENT AND CEO David Sandler, EXECUTIVE VP AND CFO Charles A Jr Boehlke, and Director, 10% Owner Mitchell Jacobson sold shares of MSM stock.

Sell: sold 37,500 shares of MSM stock on 04/23/2010 at the average price of 56.21. David Sandler owns at least 121,135 shares after this. The price of the stock has decreased by 12.65% since.

FreeportMcMoRan Copper & Gold Inc. (FCX)

Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, and the smelting and refining of copper concentrates in Spain and Indonesia. Freeportmcmoran Copper & Gold Inc. has a market cap of $28.41 billion; its shares were traded at around $65.98 with a P/E ratio of 8.6 and P/S ratio of 1.9. June 24nd the company raised its quarterly dividend 100% to $0.30/share. The dividend is payable on August 16, 2010, to shareholders of record at the close of business July 15, 2010. The yield based on the new payout is 2.03%.

Freeport-McMoRan Copper & Gold Inc. reported first-quarter 2010 results. Net income attributable to common stock for first-quarter 2010 was $897 million, $2.00 per share, compared with net income of $43 million, $0.11 per share, for first-quarter 2009. Consolidated sales from mines for the year 2010 are expected to approximate 3.8 billion pounds of copper, 1.8 million ounces of gold and 62 million pounds of molybdenum, including 830 million pounds of copper, 270 thousand ounces of gold and 15 million pounds of molybdenum for second quarter 2010.

FreeportMcMoRan Copper & Gold Inc. is owned by David Dreman, David Williams, and PRIMECAP Management.

Director J Bennett Johnston bought shares of FCX stock.

VP & Controller Financial Rptg C Donald Jr Whitmire sold shares of FCX stock.

Gouverneur Bancorp Inc (GOV)

Government Properties Income Trust is a real estate investment trust (REIT). Gouverneur Bancorp Inc has a market cap of $841.8 million; its shares were traded at around $26.93 with a P/E ratio of 12.4 and P/S ratio of 10.7. July 1st the company increased its quarterly dividend. The dividend is payable shareholders of record as of the close of business on July 16, 2010 and distributed on or about August 16, 2010. The yield based on the new payout is 6.31%.


Rating: 3.0/5 (2 votes)

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