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Alberto Abaterusso
Alberto Abaterusso
Articles (2195) 

3 Long-Term Payers Announce Dividends

They have grown their dividends significantly

John Wiley & Sons Inc (NYSE:JW.A) (NYSE:JW.B), Lockheed Martin Corp (NYSE:LMT) and First of Long Island Corp (NASDAQ:FLIC) announced quarterly dividends on Thursday, June 25.

These companies draw the interest of dividend investors because they have been paying dividends for a long time and have raised their dividends significantly over the past five years.

John Wiley & Sons Inc

The Hoboken, New Jersey-based global provider of research and learning services announced that on July 22, it will pay a quarterly cash dividend of 34.25 cents per common share of both Class A and Class B stock, which represents a 0.7% increase from the previous payment. The quarterly dividend will be paid to shareholders of record as of July 7. The ex-dividend date is scheduled for July 6.

Based on Thursday’s closing prices of $38.98 per share of Class A common stock and of $40.24 per share of Class B common stock, the quarterly dividend produces forward dividend yields of 3.51% and 3.41%, respectively. The S&P 500 yields 1.93% as of June 25.

John Wiley & Sons Inc has been distributing dividends for nearly 31 years and increased them by a compound annual growth rate of 3.81% over the past five years.

The company supports the payment with cash on hand of $202.5 million and trailing 12-month free cash flow of slightly under $170 million as of the most recent quarter ended on April 29. The debt-equity ratio stands at 1.03.

In the past year, the share price dropped nearly 14% for Class A common stock and about 11.4% for Class B common stock, determining 52-week ranges of $30.42 to $50.05 and $30.44 to $49.41, respectively.

The market capitalization is about $2.2 billion, the price-book ratio is about 2.33 versus the industry median of 1.35 and the price-sales ratio is about 1.2 versus the industry median of 1.05.

Wall Street sell-side analysts recommended an overweight rating for the stock and have established an average target price of $43.5 per share.

Lockheed Martin Corp

The Bethesda, Maryland-based global aerospace, defense, security and advanced technologies company announced that on Sept. 25, a quarterly cash dividend of $2.40 per common share will be paid to its shareholders of record as of Sept.1. The payment will be on par with the previous one. The ex-dividend date is scheduled for Aug. 31.

Based on Thursday’s closing price of $362.82 per share, the quarterly cash dividend produces a 2.66% forward dividend yield. The S&P 500 yields 1.93% as of June 25.

Lockheed Martin Corp has paid dividends for approximately 25 years and increased them at a CAGR of nearly 10% over the past five years.

The company sustains the quarterly dividend with nearly $2 billion available in cash on hand and about $4.8 billion in trailing 12-month levered free cash flow. The company’s debt-equity ratio stands at 4.05, which is remarkably higher than the industry median of 0.44, but the interest coverage ratio of 13.13 indicates that Lockheed Martin can most likely pay the interest expenses on the outstanding debt. Figures are as of the most recent quarter, which ended on March 28.

In the past year, the share price has risen 1.04%, determining a 52-week range of $266.11 to $442.53.

The stock has a market capitalization of $101.74 billion, a price-book ratio of 29.75 versus the industry median of 1.75 and a price-sales ratio of 1.67 versus the industry median of 1.11.

Wall Street sell-side analysts recommended an overweight rating for the stock and have produced an average target price of $429.53 per share.

First of Long Island Corp

The Glen Head, New York-based regional bank announced that on July 20, it will pay a quarterly cash dividend of 18 cents per common share, on par with the prior distribution. The payment will be made to shareholders of record as of July 9. The ex-dividend date is scheduled for July 8.

Based on Thursday’s closing price of $16.11 per share, the quarterly dividend generates a 4.47% forward yield. The S&P 500’s dividend yield stands at 1.93% as of June 25.

First of Long Island Corp has been paying dividends for approximately three decades and has increased them at a CAGR of 14.2% over the past five years.

As of the most recent quarter, which ended on March 28, the company finances the payment of the quarterly dividend with $120.2 million in cash on hand and about $45 million in cash flows from the past 12 months.

The share price fell by almost 23% in the past year, determining a 52-week range of $12.16 to $25.53.

The stock has a market capitalization of $384.01 million, a price-book ratio of 1.03 versus the industry median of 0.76 and a price-sales ratio of 3.55 versus the industry median of 2.08.

Wall Street sell-side analysts issued a hold recommendation rating for the stock and have set an average target price of $18.50 per share.

Disclosure: I have no positions in any securities mentioned.

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About the author:

Alberto Abaterusso
I am a contributor at GuruFocus. I primarily write about gold, silver and precious metals mining industries. My articles have also been widely linked by popular sites, including MarketWatch, Financial Times, 24hGold, Investopedia, Financial.org, CNBS, MSN Money, Zachs, Reuters and others. I hold a Master's Degree in Business Administration from Università degli Studi di Bari (Italy), Aldo Moro. I am based in The Netherlands.

You can follow me on Twitter at https://twitter.com/AAbaterusso

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