A Labor Day-shortened week led to a shortage of companies moving ahead with dividend increases. However, for the week of September 3, it was more about the quality of the names rather than the quantity.
Heading the list was Verizon (VZ) who made a big splash early in the week in announcing it will buy its remaining 45% stake in Verizon Wireless from Vodafone (VOD). Oil, gas and energy provider Hess (HES) also jumped into the dividend fray with a large increase to satisfy shareholders.
In all, 4 companies made it onto our Companies Increasing Dividends list for the week. (Note: All yields are as of September 6.)
Financial holding company Evans Bancorp (EVBN) raised its quarterly dividend 8% to 26 cents per share, payable on Oct. 9 to shareholders of record as of Sept. 18.
EVBN Dividend Yield: 2.68%
Integrated energy company Hess (HES) raised its quarterly dividend 150% to 25 cents per share, payable on Sept. 30 to shareholder of record as of Sept. 16, with an ex-dividend date of September 12.
HES Dividend Yield: 1.29%
Shopping center properties real estate investment trust Ramco-Gershenson (RPT) raised its quarterly dividend 12% to 18.75 cents per share, payable on Oct. 1 to shareholders of record as of Sept. 20.
RPT Dividend Yield: 5.12%
Industrial company Trinity Industries (TRN) raised its quarterly dividend15% to 15 cents per share, payable on Oct. 31 to shareholders of record as of Oct. 15.
TRN Dividend Yield: 1.38%
Telecommunications giant Verizon (VZ) raised its quarterly dividend 2.9% to 53 cents per share, payable on Nov. 1 to shareholders of record as of Oct. 10.
VZ Dividend Yield: 4.56%
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he is long VZ. For more payout winners, see previous weeks’ lists of Companies Increasing Dividends.