It was a wild week of volatility on Wall Street, with stocks selling off sharply in Tuesday’s session and then rebounding strongly in Thursday’s trading.
Amidst the trading gyrations we saw a series of companies quietly and deliberately boosting payouts to shareholders. This week’s list of payout performers was dominated by energy producers, but we also received payout news from several specialty chemical and industrial manufacturers.
Here are nine companies increasing dividends this week:
Diversified giant Dow Chemical (NYSE:DOW) went into its fiscal laboratory and concocted a 28% boost in its quarterly payout, to 32 cents per share. The new dividend is payable July 30 to shareholders of record as of June 29. The new dividend yield, based on the April 12 closing price of $32.67 (the date the dividend was announced), is 3.92%. Dow has paid shareholders a dividend every quarter for 100 years.
Midstream energy partnership Genesis Energy LP (NYSE:GEL) turned up the heat on its quarterly distribution by 2.3%, to 45 cents per unit. The new payout will be made May 15 to unitholders of record as of May 1. The new dividend yield, based on the April 11 closing price of $30.19, is 5.96%. This is the 27th consecutive quarter in which Genesis has increased its quarterly distribution.
Specialty chemical maker H.B. Fuller Co. (NYSE:FUL) specializes in adhesives. This week the company attached a 13% increase to its quarterly payout. The new dividend of 8.5 cents per share will be paid on May 10 to shareholders of record as of April 26. The new dividend yield, based on the April 12 closing price of $32.32, is 1.05%. This is the 43rd consecutive year in which the company has increased its dividend.
Diversified metering technology company Idex Corp. (NYSE:IEX) measured out an 18% increase in its quarterly cash dividend, to 20 cents per share. The new dividend will be paid April 30 to shareholders of record as of April 20. The new dividend yield, based on the April 10 closing price of $39.94, is 2%. This was the company’s 70th consecutive regular quarterly cash dividend payment.
Crude oil and natural gas transportation partnership Plains All-American LP (NYSE:PAA) delivered a 2% increase in its quarterly distribution, to $1.045 per unit. The new payout will be made on May 15 to unitholders of record as of May 4. The new dividend yield, based on the April 10 closing price of $77.32, is 5.41%.
Natural gas producers Targa Resources Corp. (NYSE:TRGP) and Targa Resources Partners LP (NYSE:NGLS) announced an increase in their quarterly dividend and distribution, respectively.
Targa Resources declared a quarterly cash dividend of 36.5 cents per share, a 9% increase over the prior quarter’s payout. The cash dividend will be paid May 16 to shareholders of record as of April 23. The new dividend yield, based on the April 11 closing price of $44.68, is 3.27%.
Targa Resources Partners LP will pay a distribution of 62.25 cent per unit, which represents a 3% increase over the previous distribution. The distribution will be paid May 15 to unitholders as of April 23. The new dividend yield, based on the April 11 closing price of $40.47, is 6.15%.
Natural gas transport company Teekay LNG Partners LP (NYSE:TGP) raised its quarterly distribution 7%, to 67.5 cents per unit. The new dividend yield, based on the April 12 closing price of $38.50, is 7.01%.
Teekay Offshore Partners LP (NYSE:TOO), the general partner of TGP, also raised its quarterly distribution. The new payout of 51.25 cents per unit is a 2.5% increase from the prior quarter. The new dividend yield, based on the April 12 closing price of $28.82, is 7.11%.
Both distributions will be paid May 14 to unitholders of record as of April 23.
At the time of publication, Jim Woods held no positions in any of the stocks mentioned in this article.
