It was a very light week for new dividend increases, especially when you compare it to the barrage of higher payouts we’ve seen over the past four weeks. Yet there was a quartet of companies that shared the wealth with shareholders last week, and the biggest by far was paper and packaging maker International Paper Company (NYSE: IP).
On Tuesday, March 29, the mega-cap paper manufacturer upped its quarterly dividend 40% to 26.25 cents per share form 18.75 cents. The new dividend is payable June 15 to shareholders of record as of May 17. The company, which has paper manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa, now has increased the green paper it pays to shareholders for the third time in the past year.
In a statement accompanying the dividend increase announcement, CEO John Faraci said, “This third dividend increase over the last 12 months raises our dividend above pre-recession levels … This increase reflects our confidence in the future of International Paper and our commitment to return cash to shareholders.”
Clothing brand manager Oxford Industries, Inc. (NYSE: OXM) made a big splash this week, with the stock gapping 17% higher in Wednesday, March 30, trade. The jump in the shares came after the company said fiscal fourth-quarter net profit had dressed itself up due to the sale of its Oxford Apparel Group division. The company said its net income also got a bump from higher sales of its Tommy Bahama and Lilly Pulitzer brands.
In the quarter ended Jan. 29, Oxford Industries said it earned $53.4 million, or $3.22 per share, compared with $3.9 million, or 24 cents per share, in the fourth quarter of fiscal 2009. The company said its adjusted earnings were 32 cents per share. The company also declared a dividend of 13 cents per share payable April 29, to shareholders of record as of April 15.
Real estate investment trust Anworth Mortgage Asset Corporation (NYSE:
ANH), which invests primarily in securities guaranteed by the U.S. government, such as Ginnie Mae, Fannie Mae or Freddie Mac, raised its dividend to 25 cents per share from 22 cents. The new dividend is payable on April 27, to shareholders of record as of April 11.
Campus Crest Communities, Inc. (NYSE: CCG) develops, builds, owns and manages purpose-built student housing. The company doled out an increased quarterly dividend of 16 cents per share from the current 12.75 cents. The new dividend is payable on April 20, to shareholders of record on April 11.
At the time of publication, Jim Woods held no positions in any of the stocks mentioned in this article.
