These are the dividend news from The Dynamic Dividend. Related Companies: The Southern Company (SO, Financial), Cardinal Financial Corporation (CFNL) and M&T Bank Corporation (MTB, Financial).
The Southern Company had declared a quarterly dividend of $0.4725 per share today, a 3.9% improvement over the $0.455 paid each of the previous four quarters by the Atlanta-based energy company. This marks the tenth consecutive year Southern has given its shareholders a raise.
Shares of Southern Company are hovering right around Friday’s closing price of $38.33 today, where they now feature a 4.93% dividend yield.
The Southern Company has increased its dividend every year dating back to 2002, raising its payout by a total of 41% over that span.
Corporation (CFNL) declared a quarterly dividend of $0.03 per share this morning, the same amount paid by the financial holding company last quarter. So you probably shouldn’t pay attention to its press release, which is titled, “Cardinal Financial Corporation Increases Quarterly Dividend.”
The headline is a word-for-word replica of the one used by Cardinal when it originally increased its dividend rate by 50% (from $0.02 to $0.03 per share) nearly three months ago. So this could have been a harmless moment of copy-and-paste laziness. A more cynical take: Cardinal would really like to recreate the jolt its stock received (+2.62%) on the day of the original announcement.
Either way, shares are down with the broader market this morning, trading at $10.86 (-1.54%). At that level, the stock yields 1.10%.
M&T Bank Corporation (MTB) posted a first quarter profit of $1.59 per share, blowing away the average analyst estimate ($1.40 per share) and enabling its shares to power through a rough morning for the broader market.
Net income rose 37% to $206.3 million, as M&T’s earnings continue to improve along with its lending picture. The bank’s provision for credit losses was $75 million, down from $105 million during the same period last year, while net charge-offs fell from $95 million down to $74 million.
Shares of MTB have risen to $86.28 (+1.09%) this morning, despite the broader market being crushed in early trading. (Each of the major indices are currently down at least 1.4%.) At that level, the stock carries a 3.25% dividend yield.
As a participant in the Treasury’s Capital Purchase Program, M&T has been forced to hold its quarterly dividend at $0.70 per share recently. The bank has never reduced its payout and had a stellar dividend growth history prior to the recent flatness.
Southern Company Hits a Decade of Dividend Growth
The Southern Company had declared a quarterly dividend of $0.4725 per share today, a 3.9% improvement over the $0.455 paid each of the previous four quarters by the Atlanta-based energy company. This marks the tenth consecutive year Southern has given its shareholders a raise.
Shares of Southern Company are hovering right around Friday’s closing price of $38.33 today, where they now feature a 4.93% dividend yield.
The Southern Company has increased its dividend every year dating back to 2002, raising its payout by a total of 41% over that span.
Cardinal Maintains Dividend, Contrary to Headline
Corporation (CFNL) declared a quarterly dividend of $0.03 per share this morning, the same amount paid by the financial holding company last quarter. So you probably shouldn’t pay attention to its press release, which is titled, “Cardinal Financial Corporation Increases Quarterly Dividend.”
The headline is a word-for-word replica of the one used by Cardinal when it originally increased its dividend rate by 50% (from $0.02 to $0.03 per share) nearly three months ago. So this could have been a harmless moment of copy-and-paste laziness. A more cynical take: Cardinal would really like to recreate the jolt its stock received (+2.62%) on the day of the original announcement.
Either way, shares are down with the broader market this morning, trading at $10.86 (-1.54%). At that level, the stock yields 1.10%.
M&T Beats Q1 Expectations as Loan Situation Improves
M&T Bank Corporation (MTB) posted a first quarter profit of $1.59 per share, blowing away the average analyst estimate ($1.40 per share) and enabling its shares to power through a rough morning for the broader market.
Net income rose 37% to $206.3 million, as M&T’s earnings continue to improve along with its lending picture. The bank’s provision for credit losses was $75 million, down from $105 million during the same period last year, while net charge-offs fell from $95 million down to $74 million.
Shares of MTB have risen to $86.28 (+1.09%) this morning, despite the broader market being crushed in early trading. (Each of the major indices are currently down at least 1.4%.) At that level, the stock carries a 3.25% dividend yield.
As a participant in the Treasury’s Capital Purchase Program, M&T has been forced to hold its quarterly dividend at $0.70 per share recently. The bank has never reduced its payout and had a stellar dividend growth history prior to the recent flatness.
