This is the group of companies who raised their dividend during the week: The J.M. Smucker Company (SJM, Financial), Kinder Morgan Energy Partners L.P. (KMP, Financial), Artesian Resources Corp. (ARTNA, Financial), and Renaissance Learning Inc. (RLRN, Financial).
The J.M. Smucker Company (SJM)
The J.M. Smucker Company, headquartered in Orrville, Ohio is the marketer of jams, jellies, preserves, and other fruit spreads in the U. The J.m. Smucker Company has a market cap of $7.53 billion; its shares were traded at around $63.24 with a P/E ratio of 14.7 and P/S ratio of 2. GuruFocus rated The J.m. Smucker Company the business predictability rank of 4-star. The Board of Directors approved an increase in the quarterly dividend from $0.35 to $0.40 per common share. This dividend achiever yields 2.50%.
The J.M. SMucker Company announced financial results of the third quarter ended January 31, 2010. Net sales were up 2% in the third quarter of 2010, compared to 2009. Net sales totaled $31.8 million. The Company’s non-GAAP income per diluted share was $1.18 and $0.87 for the third quarter 2010.
The J.M. Smucker Company is owned by John Rogers and Ruane Cunniff.
Vice President M Ann Harlan, Vice President Andrew G Platt, and Vice President Albert W Yeagley sold shares of SJM stock.
Kinder Morgan Energy Partners L.P. (KMP)
Kinder Morgan Energy Partners, L.P. serves as the sole general partner of a partnership formed to acquire, own and operate three pipeline systems used to transport natural gas liquids, refined petroleum products and carbon dioxide. Kinder Morgan Energy Partners L.p. has a market cap of $14.15 billion; its shares were traded at around $68.27 with a P/E ratio of 52.6 and P/S ratio of 2. The partnership boosted its quarterly distribution to $1.07/unit from $1.05/unit. This is the thirteenth consecutive annual distribution increase for this dividend achiever. The stock yields 6.30%.
Kinder Morgan Energy Partners, L.P. increased its quarterly cash distribution per common unit to $1.07 ($4.28 annualized) payable on May 14, 2010, to unitholders of record as of April 30, 2010. The distribution represents a 2 percent increase over the first quarter 2009 cash distribution per unit of $1.05 ($4.20 annualized). KMP reported first quarter distributable cash flow before certain items of $353.7 million, up 36 percent from $260.0 million for the comparable period last year. Distributable cash flow per unit before certain items was $1.18, up 22 percent from $0.97 per unit for the first quarter of 2009. Net income attributable to KMP before certain items was $378.7 million versus $281.9 million for the same period last year. Including certain items, net income attributable to KMP was $225.3 million versus $263.9 million for the first quarter of 2009. Certain items totaled a loss of approximately $156 million, which was essentially all attributable to rate case litigation involving the company's products pipelines on the West Coast.
Kinder Morgan Energy Partners L.P. is owned by John Keeley.
Director Gary Hultquist sold shares of KMP stock.
Artesian Resources Corp. (ARTNA)
Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Resources Corp. has a market cap of $138.2 million; its shares were traded at around $18.39 with a P/E ratio of 19 and P/S ratio of 2.2. The company raised its dividend by 0.50% to 18.82 cents/share. Despite the fact that Artesian has increased its dividends each year for the last 13 years, it is not on the dividend achievers list most probably due to its low trading volume. The stock yields 4.20%.
Artesian Resources Corporation announced that revenue through the third quarter of 2009 was $45.4 million, up from $41.8 million for the same nine-month period of 2008. Net income rose to $5.7 million for the year through September 30, an increase of 11.6% from the same period last year. Diluted net income per common share increased to $0.76 for the nine months ended September 30, 2009 from $0.69 in the same period last year
CFO and Treasurer David B Spacht, Director William C Wyer, and Director Kenneth R Biedermansold shares of ARTNA stock.
Renaissance Learning Inc. (RLRN)
Renaissance Learning, Inc. is a provider of school improvement programs, through research-based software products, teacher training, and consulting. Renaissance Learning Inc. has a market cap of $448.3 million; its shares were traded at around $15.31 with a P/E ratio of 22.4 and P/S ratio of 3.7. The company increased the quarterly cash dividend by 14%, from $0.07 to $0.08 per share. This is the first dividend increase for this company since 2007. The stock yields 2.00%.
SVP-State & Federal Programs Roy E. Truby and SVP - Research and Development Paula K. O'gorman sold shares of RLRN.
The J.M. Smucker Company (SJM)
The J.M. Smucker Company, headquartered in Orrville, Ohio is the marketer of jams, jellies, preserves, and other fruit spreads in the U. The J.m. Smucker Company has a market cap of $7.53 billion; its shares were traded at around $63.24 with a P/E ratio of 14.7 and P/S ratio of 2. GuruFocus rated The J.m. Smucker Company the business predictability rank of 4-star. The Board of Directors approved an increase in the quarterly dividend from $0.35 to $0.40 per common share. This dividend achiever yields 2.50%.
The J.M. SMucker Company announced financial results of the third quarter ended January 31, 2010. Net sales were up 2% in the third quarter of 2010, compared to 2009. Net sales totaled $31.8 million. The Company’s non-GAAP income per diluted share was $1.18 and $0.87 for the third quarter 2010.
The J.M. Smucker Company is owned by John Rogers and Ruane Cunniff.
Vice President M Ann Harlan, Vice President Andrew G Platt, and Vice President Albert W Yeagley sold shares of SJM stock.
Kinder Morgan Energy Partners L.P. (KMP)
Kinder Morgan Energy Partners, L.P. serves as the sole general partner of a partnership formed to acquire, own and operate three pipeline systems used to transport natural gas liquids, refined petroleum products and carbon dioxide. Kinder Morgan Energy Partners L.p. has a market cap of $14.15 billion; its shares were traded at around $68.27 with a P/E ratio of 52.6 and P/S ratio of 2. The partnership boosted its quarterly distribution to $1.07/unit from $1.05/unit. This is the thirteenth consecutive annual distribution increase for this dividend achiever. The stock yields 6.30%.
Kinder Morgan Energy Partners, L.P. increased its quarterly cash distribution per common unit to $1.07 ($4.28 annualized) payable on May 14, 2010, to unitholders of record as of April 30, 2010. The distribution represents a 2 percent increase over the first quarter 2009 cash distribution per unit of $1.05 ($4.20 annualized). KMP reported first quarter distributable cash flow before certain items of $353.7 million, up 36 percent from $260.0 million for the comparable period last year. Distributable cash flow per unit before certain items was $1.18, up 22 percent from $0.97 per unit for the first quarter of 2009. Net income attributable to KMP before certain items was $378.7 million versus $281.9 million for the same period last year. Including certain items, net income attributable to KMP was $225.3 million versus $263.9 million for the first quarter of 2009. Certain items totaled a loss of approximately $156 million, which was essentially all attributable to rate case litigation involving the company's products pipelines on the West Coast.
Kinder Morgan Energy Partners L.P. is owned by John Keeley.
Director Gary Hultquist sold shares of KMP stock.
Artesian Resources Corp. (ARTNA)
Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Resources Corp. has a market cap of $138.2 million; its shares were traded at around $18.39 with a P/E ratio of 19 and P/S ratio of 2.2. The company raised its dividend by 0.50% to 18.82 cents/share. Despite the fact that Artesian has increased its dividends each year for the last 13 years, it is not on the dividend achievers list most probably due to its low trading volume. The stock yields 4.20%.
Artesian Resources Corporation announced that revenue through the third quarter of 2009 was $45.4 million, up from $41.8 million for the same nine-month period of 2008. Net income rose to $5.7 million for the year through September 30, an increase of 11.6% from the same period last year. Diluted net income per common share increased to $0.76 for the nine months ended September 30, 2009 from $0.69 in the same period last year
CFO and Treasurer David B Spacht, Director William C Wyer, and Director Kenneth R Biedermansold shares of ARTNA stock.
Renaissance Learning Inc. (RLRN)
Renaissance Learning, Inc. is a provider of school improvement programs, through research-based software products, teacher training, and consulting. Renaissance Learning Inc. has a market cap of $448.3 million; its shares were traded at around $15.31 with a P/E ratio of 22.4 and P/S ratio of 3.7. The company increased the quarterly cash dividend by 14%, from $0.07 to $0.08 per share. This is the first dividend increase for this company since 2007. The stock yields 2.00%.
SVP-State & Federal Programs Roy E. Truby and SVP - Research and Development Paula K. O'gorman sold shares of RLRN.
