7 Companies Increasing Dividends

by Marc Bastow | August 31, 2012 11:42 am

Companies Increasing Dividends[1]The week before the long Labor Day weekend generally is a pretty slow one, but we at least got some upbeat news in the form of a number of dividend increases — including several from high-yielding Canadian banks[2] — as well as a special dividend from an aging tech name.

In total, 7 companies made it into our Companies Increasing Dividends[3] list this week. (Note: All yields as of Aug. 30 closing prices unless otherwise noted.)

Financial holding company Alliance Financial (NASDAQ:ALNC[4]) increased its quarterly dividend 3.2% to 32 cents per share, payable on Oct. 2 to shareholders of record on Sept. 18. ALNC’s new yield is 3.53%.

Canada’s Bank of Montreal (NYSE:BMO[5]) hiked its quarterly payout 2.7% to 72 cents per common share, payable on Nov. 28 to shareholders of record on Nov. 1. BMO’s new yield is 4.7%.

Bank of Nova Scotia (NYSE:BNS[6]), more commonly known as Scotiabank, raised its quarterly dividend 6% to 57 cents per share, payable on Oct. 29 to shareholders of record on Oct. 2. BNS’ new yield is 4%.

Information services company Harris Corp. (NYSE:HRS[7]) boosted its quarterly dividend by 12% to 37 cents per share, payable on Sept. 19 to shareholders of record on Sept. 7. HRS also raised its dividend in March. In addition to the payout hike, Harris will use $200 million raised from the sale of its Broadcast Communications segment to repurchase shares on the open market. HRS’ new yield is 3.14%.

Royal Bank of Canada (NYSE:RY[8]) increased its quarterly dividend 5% to 60 cents per share payable on Nov. 23 to shareholders of record on Oct. 25. RY’s new yield is 4.1%.

Toronto-Dominion Bank (NYSE:TD[9]) increased its quarterly dividend 7% to 77 cents per share, payable on Oct. 31 to shareholders of record on Oct. 3. TD’s new yield is 3.4%.

Specialty finance company Triangle Capital (NASDAQ:TCAP[10]) increased its quarterly dividend 4% to 52 cents per share, payable on Sept. 26 to shareholders of record on Sept. 12. This is Triangle’s 23rd consecutive quarterly dividend since its initial public offering in February 2007. TCAP’s new yield is 8.52%.

Lastly, Internet service provider AOL (NYSE:AOL[11]) got the week started on a high note[12] by announcing a special dividend of $5.15 per share, payable on Dec. 14 to shareholders of record on Dec. 5. AOL also announced it will buy back $600 million in stock as part of a previously approved share repurchase authorization and incremental $10 million plan authorized on Aug. 26.

Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he was long AOL. For more payout winners, see the previous week’s list of Companies Increasing Dividends[3].

  1. [Image]: http://investorplace.com/hot-topics/companies-increasing-dividends/
  2. high-yielding Canadian banks: http://investorplace.com/2012/08/5-sleepy-canadian-banks-providing-super-yields-ry-td-bns-bmo-cm/
  3. Companies Increasing Dividends: http://investorplace.com/hot-topics/companies-increasing-dividends/
  4. ALNC: http://studio-5.financialcontent.com/investplace/quote?Symbol=ALNC
  5. BMO: http://studio-5.financialcontent.com/investplace/quote?Symbol=BOM
  6. BNS: http://studio-5.financialcontent.com/investplace/quote?Symbol=BNS
  7. HRS: http://studio-5.financialcontent.com/investplace/quote?Symbol=HRS
  8. RY: http://studio-5.financialcontent.com/investplace/quote?Symbol=RY
  9. TD: http://studio-5.financialcontent.com/investplace/quote?Symbol=TD
  10. TCAP: http://studio-5.financialcontent.com/investplace/quote?Symbol=TCAP
  11. AOL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AOL
  12. on a high note: http://investorplace.com/2012/08/is-aol-sweet-dividend-tempting-enough-msft-yhoo/

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