This week we saw a substantial number of dividend increases from companies that represent the biggest names in their respective industries. And that’s given income investors reason to smile even as the political battles keep investors shaking their heads in disappointment.
Here are dividend increases for the week of July 25:
#1 – Chesapeake Midstream Partners L.P.
Natural gas energy partnership Chesapeake Midstream Partners L.P. (NYSE:CHKM) announced an increase in its quarterly distribution to 36.25 per share. The new distribution represents an increase of 1.25 cents per unit, or 3.6% over the prior quarter. Chesapeake will begin delivering the new rate on Aug. 12 to all shareholders of record at the close of business on Aug. 5. Given the fact that Chesapeake Midstream has fee arrangements in place for the next two decades, this natural gas partnership’s dividends are likely to continue to burn bright.
#2 – Crane
Whoever said manufacturing was dead in America hasn’t looked at Crane Co. (NYSE:CR) lately. The diversified U.S. manufacturer just posted better-than-expected second-quarter earnings lead by higher sales of aircraft and electronic parts. The company also raised its full-year earnings outlook. That positive news came complete with a brand new increase in the company’s quarterly dividend to 26 cents per share. That’s an increase of 13% over the prior year. The new payout will take flight on Sept. 9, and will arrive at shareholders of record as of the close of business on Aug. 31.
#3 – Kellogg Company
I’d venture to say that nearly every American has eaten a bowl of cereal made by Kellogg Company (NYSE:K) at some time in his or her life. This kind of market penetration by the food maker has continually made for a healthy dividend breakfast, and this week invetors saw more of the same. The company beat earnings estimates, raised its revenue guidance and reaffirmed its earnings guidance for the full year. Kellogg also fortified its dividend by 6%, increasing its payout to 43 cents per share over its prior dividend. The enriched payout will be in investors’ bowls on Sept. 15, provided they are at the shareholder breakfast table by Sept. 1.
#4 – Newmont Mining
The price of gold continues to hit record highs, and that’s great news for companies that dig the yellow metal out of the dirt. One such company is Newmont Mining (NYSE:NEM), and this week the giant gold firm dug up a 50% hike in its quarterly dividend. The new, shiny payout of 30 cents per share will be made on Sept. 29 to shareholders of record as of Sept. 8. Newmont said it will raise its dividend by 5 cents for each $100 increase in the average price of gold.
#5 – Noble Energy
Oil and gas exploration and production firm Noble Energy (NYSE:NBL) hit a well for shareholders this week, declaring a quarterly cash dividend increase to 22 cents per common share. That’s up from 18 cents per share in the previous quarter. The new dividend is payable Aug. 22 to the shareholders of record on Aug. 8. Also this week, the company announced strong second-quarter profits that were spurred on by higher crude oil and natural gas prices. Noble also increased its full-year production forecast.
#6 – Norfolk Southern
The dividend train keeps a rollin’ for Norfolk Southern (NYSE:NSC). The railroad giant has raised its quarterly payout by 7.5%, or 3 cents per share, to 43 cents per share for 40 cents. The new cash cargo will be delivered Sept. 10, to stockholders of record on Aug. 5. Since its inception in 1982,Norfolk Southern has paid dividends on its common stock for 116 consecutive quarters.
#7 – RPC, Inc.
RPC, Inc. (NYSE:RES) is another oil and gas services company drilling down into the dividend well for shareholders. This week, RPC announced an increase in its quarterly dividend of 14% to 8 cents per share. The new payout will be unearthed Sept. 9 to shareholders of record at the close of business on Aug. 10. The dividend boost came along with the company’s announcement of that its second-quarter profit more than doubled. RPC cited increased activity, a bigger fleet of equipment and improved pricing for the better results.
#8 – Reinsurance Group of America
Reinsurance Group of America (NYSE:RGA) reported a quarterly profit that came in below analysts’ estimates, but that didn’t stop RGA from insuring shareholders that its dividend was in great shape. The company hiked its quarterly payout by 50% to 18 cents a share. In a statement accompanying earnings, RGA said, “Adverse mortality experience in Australia, and to a lesser extent inJapan, hampered results.” Still, the company will pay the boosted dividend on Aug. 23 to shareholders of record as of Aug. 4.
#9 – Republic Services
This week, Republic Services (NYSE:RSG), which specializes in providing solid waste collection and disposal services, announced that it is sweetening the smell of its dividend by 10%. The new payout of 22 cents per share will be made on Oct. 17 to stockholders of record on Oct. 3. Along with the dividend announcement came the company’s second-quarter earnings results. Republic bested Wall Street estimates, while also reaffirming its 2011 outlook.
#10 – Williams Partners L.P.
Diversified natural gas giant Williams Partners L.P. (NYSE:WPZ) turned up the heat on its regular quarterly cash distribution to unitholders. The company’s board approved a 9% year-over-year increase in its distribution to 73.25 per unit. The new per-unit payout represents a 2% increase over the previous quarterly distribution. The new distribution will be made on Aug. 12 to unitholders of record at the close of business on Aug. 5. Williams is slated to report second-quarter earnings on Aug. 3.
At the time of publication, Jim Woods did not hold positions in any of the stocks mentioned here.
