As part of my monitoring process, I review the list of dividend increases every week This activity helps me to monitor the business performance of any companies I am invested in. It also helps me to identify any hidden dividend gems, and place them on my list for further research.
My reviews are an example of the quick way I use to evaluate companies, before deciding if they are worth a second look later or not.
The companies in today’s article have managed to grow dividends for at least ten years in a row. These companies also announced a dividend increase during the past week. The companies include:
The Clorox Company (CLX) manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International.
The company raised quarterly dividends by 1.70% to $1.18/share. This marked the 45th year of annual dividend increases for this dividend aristocrat.
Over the past decade, the company has managed to grow dividends at an annualized rate of 6.81%, which is lower than the five year rate of 7.71%
The stock sells for 35.57 times forward earnings and yields 3.15%.
Cummins Inc. (CMI) designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power.
The company raised quarterly dividends by 8.30% to $1.57/share. This was the 17th consecutive annual dividend increase for this dividend achiever.
Over the past decade, the company has managed to boost dividends at an annualized rate of 15.50%. The five year rate is 7%.
The stock sells for 11.10 times forward earnings and yields 2.98%.
Hingham Institution for Savings (HIFS) provides various financial products and services to individuals and businesses in the United States.
The company raised quarterly dividends by 4% to $0.59/share. This was an 11% increase in the dividend over the payment in September 2021. The bank has increased dividends for 27 years in a row.
The stock sells for 10.23 times earnings and yields 0.70%.
Marsh & McLennan Companies, Inc. (MMC) is a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services, and Consulting.
The company raised its quarterly dividend by 10.30% to $0.59/share. This was the 16th consecutive annual dividend increases for this dividend achiever. The company has managed to grow dividends at an annualized rate of 8.80% over the past decade.
The stock sells for 21.90 times forward earnings and yields 1.45%.
National Retail Properties (NNN) invests primarily in high-quality retail properties subject generally to long-term, net leases.
This REIT hiked quarterly dividends by 3.80% to $0.55/share. This marks the 33rd consecutive annual dividend increase for this dividend champion.
Over the past decade, the REIT managed to boost dividends at an annualized rate of 3.25%.
The REIT sells for 13.95 times forward FFO and yields 4.93%.
Ryder System, Inc. (R) operates as a logistics and transportation company worldwide. The company operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS).
The company raised quarterly dividends by 6.90% to $0.62/share. This is the 18th consecutive year of annual dividend increases for this dividend achiever. Over the past decade, the company has managed to increase distributions at an annualized rate of 7.40%.
The stock sells for 5 times forward earnings and yields 3.27%
The J. M. Smucker Company (SJM) manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods.
The company raised its quarterly dividend by 3% to $1.02/share. This marked the 25th consecutive year of dividend increases for this newly minted dividend champion. Over the past decade, the company has managed to grow dividends at an annualized rate of 7.50%. The five year rate of dividend growth is around 5.90%.
The stock sells for 16.32 times forward earnings and yields 3%.
Walgreens Boots Alliance, Inc. (WBA) operates as a pharmacy-led health and beauty retail company. It operates through two segments, the United States and International.
The company increased quarterly dividends by 0.50% to $0.48/share. This marked the 47th consecutive year of dividend increases for this dividend aristocrat.
Over the past decade, the company has managed to grow dividends at an annualized rate of 7.81%. The 3 year rate is at 2.76% however, while the five year rate is 4.95%.
The stock sells for 7.31 times forward earnings and yields 5.18%.
Relevant Articles:
- How dividends protect income from inflation
- Three Notable Recent Dividend Increases