Mercantile Bank Corp (MBWM, Financial), Bank of America Corp (BAC, Financial), Alliant Energy Corp (LNT, Financial) and Columbus McKinnon Corp (CMCO, Financial) announced quarterly dividends on Tuesday, Jan. 19.
These companies appeal to dividend investors because they have been paying dividends already for several years, beating the S&P 500 in terms of a higher three-year dividend per share growth rate. The benchmark index for the U.S. market has increased its real 12-month dividends per share by a compound annual growth rate (CAGR) of 4.1% over the past three-year period.
Mercantile Bank Corp (MBWM, Financial)
The Grand Rapids, Michigan-based regional bank announced that on March 17, it will pay a quarterly cash dividend of 29 cents per common share. The payment will be a 3.6% increase from the previous one. In order to benefit, shareholders must be on the company's books not later than March 5. The ex-dividend date is scheduled for March 4.
Mercantile Bank Corp has been paying dividends for about 30 years, increasing them by a CAGR of approximately 15.8% over the last three years.
The company has approximately $554.59 million in cash on hand and $41 million in trailing 12-month operating cash flow as of Sept. 30, 2020 to support the payment of the quarterly dividend.
GuruFocus has assigned a score of 2 out of 10 to the financial strength of the company and of 4 out of 10 to its profitability.
The share price has fallen by 18.65% over the past year, down to $28.83 at close on Friday, for a forward dividend yield of 4.02%, a market cap of $468.02 million and a 52-week range of $17.09 to $37.16.
On Wall Street, the stock has a median recommendation rating of hold with an average price target of $27.25 per share.
Bank of America Corp (BAC, Financial)
Based in Charlotte, North Carolina, the American bank major announced that on March 26, it will pay an 18 cents per common share quarterly cash dividend to shareholders of record as of March 5. The ex-dividend date is scheduled for March 4. The payment will be in line with the previous distribution.
Bank of America Corp has paid dividends for approximately 22 years and increased them by a CAGR of 22.7% over the last three years.
The company can support the payment of the quarterly dividend with approximately $943 billion available in cash on hand as of Dec. 31, 2020.
GuruFocus has assigned a score of 3 out of 10 to the company's financial strength and of 4 out of 10 to its profitability.
The share price has fallen by 4.88% over the past year, down to $33.01 at close on Friday, determining a forward dividend yield of 2.2%, a market cap of $285.56 billion and a 52-week range of $17.95 to $35.45.
On Wall Street, the stock has a median recommendation rating of overweight with an average price target of $33.57 per share.
Alliant Energy Corp
The Madison, Wisconsin-based supplier of regulated electricity and natural gas services in the Midwest region of the U.S. announced that on Feb. 16, it will pay a quarterly cash dividend of 40.25 cents per common share to shareholders of record as of Jan. 29. The ex-dividend date is scheduled for Jan. 28.
Alliant Energy Corp has distributed dividends for 22 years and increased them by a CAGR of approximately 6.5% over the past three years.
The company funds the payment of the quarterly dividend with about $190 million available in cash on hand and $587.4 million in trailing 12-month operating cash flow as of Sept. 30, 2020.
GuruFocus has assigned a score of 4 out of 10 to the company's financial strength and of 7 out of 10 to its profitability.
The share price has fallen by 13.45% over the past year to close at $49.47 on Friday for a forward dividend yield of 3.25%, a market cap of $12.36 billion and a 52-week range of $37.66 to $60.28.
On Wall Street, the stock has a median recommendation rating of overweight with an average target price of $57.59 per share.
Columbus McKinnon Corp
Based in Getzville, New York, the U.S. manufacturer of control systems for commercial and industrial applications worldwide announced that on Feb. 16, it will pay a 6 cents per common share quarterly cash dividend to shareholders of record as of Feb. 5. The ex-dividend date is scheduled for Feb. 4. The payment will be in line with the previous distribution.
Columbus McKinnon Corp has paid dividends for approximately 13 years and increased them by a CAGR of 14.5% over the past three years.
The company will sustain the payment of the quarterly dividend with nearly $190 million available in cash on hand and approximately $116 million in trailing 12-month operating cash flow as of Sept. 30, 2020.
GuruFocus has assigned a score of 5 out of 10 to the company's financial strength and of 7 out of 10 to its profitability.
The share price has risen by almost 3% over the past year, up to $40.48 at close on Friday, determining a forward dividend yield of 0.6%, a market cap of $967.43 million and a 52-week range of $19.20 to $43.30.
On Wall Street, the stock has a median recommendation rating of overweight with an average price target of $42.43 per share.
Disclosure: I have no positions in any securities mentioned.
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