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Dynamic Dividend
Dynamic Dividend

Notable Dividend Hikes: ALV, PAG, AUY, MR, TCRD

May 10, 2011 | About:

These are the dividend hikes featured by The Dynamic Dividend today: Mindray Medical International Ltd (NYSE:MR), THL Credit, Inc. (NASDAQ:TCRD), Autoliv Inc. (NYSE:ALV), Penske Automotive Group, Inc. (NYSE:PAG) and Yamana Gold, Inc. (NYSE:AUY).

Mindray Medical Gets Boost From Big First Quarter

Mindray Medical International Ltd (NYSE:MR) reported first quarter results that beat Wall Street’s expectations yesterday, launching shares up more than 10% to a new 2011 high in today’s trading.

The Chinese medical device maker posted adjusted earnings of $0.36 per share on $181 million in revenue, topping the consensus estimates for both profit ($0.33 per share) and sales ($170 million).

Shares of MR are currently trading at $30.48 (+10.60%), which is a new high for the year. At that level, the stock features a 0.98% dividend yield. The company gave shareholders a 50% raise earlier this year.

Mindray had a short three-week stint on my Dividend Stock Value Rankings earlier this year, debuting at #25 when shares fell below $26 on March 28.

THL Credit Continues Rapid Dividend Growth

THL Credit, Inc. (NASDAQ:TCRD) declared a quarterly dividend of $0.25 per share within its first quarter earnings release, which represents an 8.7% improvement over its previous payout. The business development company has now raised its dividend each quarter since initiating its payout last August.

THL has had an eventful first year as a public company. The BDC had investments in just five companies at the time of its IPO last April, and has already expanded its portfolio to include 17 companies. THL initiated a quarterly dividend of $0.05 per share in August, and has already quintupled that payout.

Shares of TCRD are currently trading at $14.14, where they now feature a 7.07% dividend yield.

Autoliv Raises Dividend to an All-Time High

Autoliv Inc. (NYSE:ALV) declared a quarterly dividend of $0.45 per share today, pushing its payout higher for the fourth consecutive quarter.

The new rate represents a 4.7% increase over last quarter’s dividend, and a 50% improvement over the company’s payout from the same period last year – when Autoliv reinstated its dividend after a five quarter hiatus. The company has now raised its payout every quarter since bringing it back, eventually matching its pre-cut peak back in December and then pushing its dividend to a new all-time high in February.

Shares of ALV received a nice pop from the news this afternoon, and are currently trading at $79.22 (+2.26%). At that level, the stock now features a 2.27% dividend yield.

Penske Automotive Jump Starts Quarterly Dividend

Penske Automotive Group, Inc. (NYSE:PAG) announced the reinstatement of its dividend after today’s closing bell.

The auto retailer declared a quarterly dividend of $0.07 per share, which will be its first since a $0.09 payout in late 2008. Prior to halting its dividend, Penske had increased its annual payout total in each of its five full years as a dividend-paying company.

Analysts currently expect Penske to earn $1.77 per share in 2012, which gives the company a very manageable 15.8% forward payout ratio to begin its latest dividend-paying era.

Shares of PAG closed Tuesday’s session trading at $22.02, where they now feature a 1.27% dividend yield.

Yamana Gold Gives Shareholders Another Big Raise

Yamana Gold, Inc. (NYSE:AUY) declared a quarterly dividend of $0.045 per share today, a 50% improvement over the $0.03 paid previously by the Canada-based gold producer.

Yamana has now raised its dividend four times since the beginning of last year, boosting its payout by 350% over that short period. Up until last June, the company had never paid a quarterly dividend of more than $0.01 per share.

Shares of AUY closed Tuesday’s session trading at $11.89, where they now feature a 1.51% dividend yield.

About the author:

Dynamic Dividend
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

Rating: 4.4/5 (5 votes)


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