Saturday, August 24, 2013

Recent Dividend Increases

Dividend investors would be wise to focus not just on a stock's current yield, but also on the long-term growth potential of its dividends. That's because strong businesses that consistently raise their dividend payouts reward shareholders with a steadily rising income stream that essentially equates to a raise every year. Below are some stocks which have increased their dividends recently.

American Financial Group, Inc. (AFG) - Announced that its Board of Directors has approved an increase in the Company's annual dividend from $0.78 to $0.88 per share of common stock. The increased dividend, when declared, will be paid on a quarterly basis of $0.22 per share of common stock beginning in October 2013. The new dividend rate represents a 12.8% increase over the annual rate paid thus far in 2013. The Company has increased its dividend in each of the last eight years.

Gap Inc. (GPS) - Announced that its Board of Directors intends to increase the company’s annual dividend per share from $0.60 to $0.80 beginning in the third quarter of 2013. This represents a 60 percent increase over the fiscal 2012 dividend per share of $0.50. The announcement underscores the company’s commitment to distributing excess cash to shareholders.

Altria Group, Inc. - (MO) - Announced that its Board of Directors voted to increase Altria's regular quarterly dividend by 9.1% to $0.48 per common share versus the previous rate of $0.44 per common share. The quarterly dividend is payable on October 10, 2013 to shareholders of record as of September 16, 2013. The ex-dividend date is September 12, 2013.

Main Street Capital Corp - (MAIN) - Private equity firm Main Street Capital announced today its fourth-quarter monthly dividend schedule of $0.16 per share, a 3% increase in the monthly payout to investors from the $0.155 per share paid last quarter. Main Street Capital Corporation is a business development company specializing in equity, equity related, and debt investments in small and lower middle market companies.

Medtronic - (MDT) - The board of directors of Medtronic, Inc. approved a cash dividend of $0.28 per share of the company`s common stock. The quarterly dividend represents a 7.7 percent increase over the prior year. The dividend is payable on October 25, 2013, to shareholders of record at the close of business on October 4, 2013.

Full Disclosure: I have a position in Altria Group Inc (MO). You can see a list of all my dividend growth positions here.


  1. Captain Dividend!

    Thanks for the list! I have a few shares of MAIN and it has been a solid performer so far with dividend raises and periodically special dividends. My largest BDC holding Prospect Capital (PSEC) also just starting going up with earnings covering the dividend last quarter. Also gave 8 months of dividend visibilty announcing through Q1 2014

  2. MO really knows how to reward shareholders. +5% yield, 9% raise and buying back shares. A rare breed, I might add to my posotion in the near future.

    1. Agreed, they also just raised their planned stock repurchase program from $300 million to $1 billion.

  3. MO is one of the most shareholder friendly companies in the world. I am very happy with the dividend increase and the planned repurchase.

    Look for similiar news from PM next month!

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