I review the list of dividend increases every week, as part of my monitoring process. This exercise helps me monitor existing dividend holdings. It also helps me identify companies for further research.
I usually focus my attention on the companies that grow dividends for at least a decade. That because my goal is to find sustainable dividend growers that have managed to grow dividends for at least once full economic cycle.
Over the past week, there were three dividend payers that raised dividends and also have a ten year track record of annual dividend increases. The companies include:
Verizon Communications Inc. (VZ) offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.
The company raised its quarterly dividend by 2% to 64 cents/share. This is the 15th consecutive year Verizon’s Board has approved a quarterly dividend increase. Over the past decade, the company has managed to increase dividends at an annualized rate of 2.60%.
The stock sells for 10.47 times forward earnings and yields 4.63%.
ChoiceOne Financial Services, Inc. (COFS) operates as the bank holding company for ChoiceOne Bank that provides community banking services to corporations, partnerships, and individuals in Michigan.
The company raised its quarterly dividend by 13.60% to 25 cents/share. This marked the tenth year of consecutive annual dividend increases for this newly minted dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 6.50%.
The stock sells for 10 times earnings and yields 4.06%.
Atrion Corporation (ATRI) develops, manufactures, and sells products for fluid delivery, cardiovascular, and ophthalmology applications in the United States, Germany, and internationally.
The company raised its quarterly dividend by 11% to $1.95/share. This marked the 18th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 15.50%.
The stock is selling for 41.30 times forward earnings and yields 1.11%.