Allegion PLC (ALLE, Financial) and L3Harris Technologies Inc (LHX, Financial) announced quarterly dividends on Tuesday, Sept. 1.
These stocks draw the attention of dividend investors, as these long-term payers have grown their distributions strongly over the past five years.
Allegion PLC
The Irish global manufacturer and seller of mechanical and electronic security products and technical solutions announced that on Sept. 30, it will distribute a 32 cents per common share quarterly cash dividend to shareholders of record as of Sept 16.
The distribution will be in line with the previous one. The ex-dividend date is scheduled for Sept. 15.
Based on Tuesday's closing price of $102.10 per share, the quarterly dividend generates a forward yield of 1.25%.
Allegion PLC has paid dividends for more than five years and increased them by a compound annual growth rate of 27.5% over the last five years.
The company sustains the quarterly dividend with $302.4 million available in cash on hand and equivalents. The company generated an operating cash flow of nearly $510 million over the last 12 months of activities through the most recent quarter, which ended on June 29.
The share price has increased 7% over the past year, determining a 52-week range of $77.37 to $139.24.
The stock has a market capitalization of $9.42 billion, a price-book ratio of 13.90 and a price-earnings ratio of 33.32.
Wall Street sell-side analysts issued a hold recommendation rating for the stock and have established an average target price of $104.28 per share.
L3Harris Technologies Inc
The Melbourne, Florida-based provider of tech solutions for mission-critical challenges of government and commercial customers announced that on Sept. 22, it will pay a quarterly cash dividend of 85 cents per common share to its shareholders of record as of Sept. 9.
The ex-dividend date is scheduled for Sept. 8. The payment will be on par with the prior distribution.
Based on Thursday's closing price of $177.72 per share, the quarterly dividend produces a forward dividend yield of 1.91%.
L3Harris Technologies Inc has been distributing dividends for more than 30 years and increasing them by a CAGR of 10% over the last five years.
The company funds the payment of the quarterly dividend with $1.95 billion in cash on hand as of June 30. The prior 12 months of operating activities through the second quarter yielded almost $941 million.
The share price has fallen by 16% over the past year for a 52-week range of $142.01 to $230.99.
The market capitalization is $38.42 billion, the price-book ratio is 1.72 and the price-earnings ratio stands at 29.83.
Wall Street sell-side analysts recommend a buy rating for the stock and have established an average target price of $235.84 per share.
Disclosure: I have no positions in any securities mentioned.
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