8 Companies Increasing Dividends

PNC, Schnitzer, Tanger top payout performers

   
8 Companies Increasing Dividends

IncreasingDividends 8 Companies Increasing DividendsIt’s the first week of the second quarter, and after a bumper crop of payout performers in Q1, we’ve already seen a strong start for this quarter when it comes to companies increasing dividends.

Although earnings season doesn’t kick into high gear for another few weeks, a number of companies got a jump start on issuing positive news by opting to lift their payouts to shareholders.

This week’s batch of dividend divas is diverse, and includes a trendy retailer, a big financial firm, a steel producer and even a race track operator. All told, eight companies made it onto our Companies Increasing Dividends list this week:

Regional financial holding company Bank of the Ozarks (NASDAQ:OZRK) boosted its quarterly payout 9.1% to 12 cents per share. The new dividend is payable April 20 to shareholders of record as of April 13. The new dividend yield, based on the April 2 closing price of $31.96 (the day the dividend was announced), is 1.5%.

Rock ‘n’ roll and gothic garb retailer Hot Topic (NASDAQ:HOTT) put on a new dividend on display that’s 14.3% larger than the previous payout. The new dividend of 8 cents per share is payable April 30 to shareholders of record as of April 16. The new dividend yield, based on the April 5 closing price of $10.07, is 3.18%.

Automobile race track operator International Speedway (NASDAQ:ISCA) put the pedal to the metal on its quarterly payout, boosting the RPMs on its dividend by 11% to 5 cents per share. The new dividend will be paid June 29 to shareholders of record as of May 31. The new dividend yield, based on the April 4 closing price of $28.37, is 0.7%.

Bank holding company National Penn Bancshares (NASDAQ:NPBC) gave shareholders a little more bank by boosting its quarterly payout 40% to 7 cents per share. The new dividend is payable May 17 to shareholders of record as of May 5. The new dividend yield, based on the April 2 closing price of $9.31, is 3.01%. The company also authorized the repurchase of up to 7.5 million shares through year-end.

Financial services giant PNC Financial (NYSE:PNC) raised its quarterly dividend 14% to 40 cents per share. The new payout will be delivered May 5 to shareholders of record as of April 17. The new dividend yield, based on the April 5 closing price of $63.53, is 2.52%. The company also reaffirmed its authorization to buy up to 24.7 million shares under a buyback plan that has been in effect since October 2007.

Energy concern Sabine Royalty Trust (NYSE:SBR) declared a cash distribution of 41.89 cents per unit. That distribution represents a 49.3% increase from the previous payout. The new distribution will be paid April 30 to unitholders of record as of April 16. The new dividend yield, based on the April 5 closing price of $61.35, is 8.2%.

Schnitzer Steel (NASDAQ:SCHN) really hardened up its quarterly dividend, forging a whopping 971% increase in its quarterly payout to 18.75 cents per share. The new dividend is payable May 31 to shareholders of record as of May 17. The new dividend yield, based on the April 5 closing price of $39.46, is 1.9%. Schnitzer has paid dividends for the past 72 consecutive quarters.

Discount retail mall operator Tanger Factory Outlet Centers (NYSE:SKT) raised the rent it pays to shareholders by 5% to 21 cents per share. The new dividend will be paid on May 15 to shareholders of record as of April 30. The new dividend yield, based on the April 5 closing price of $29.69, is 2.83%. The company has paid its shareholders dividends each quarter since becoming a public company in May 1993.

As of this writing, Jim Woods did not hold a position in any of the aforementioned stocks. For more payout winners, see previous weeks’ lists of Companies Increasing Dividends.


Article printed from InvestorPlace Media, http://investorplace.com/2012/04/8-companies-increasing-dividends/.

©2014 InvestorPlace Media, LLC

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