I review the list of dividend increases as part of my monitoring process. This exercise helps me monitor existing holdings. It also helps me identify companies for further research.
I typically focus on the companies that have managed to increase annual dividends for at least ten years in a row.
There were 19 companies that increased dividends last week. There were three companies that raised dividends last week, which have also managed to increase dividends for at least ten years in a row. The companies include:
Realty Income (O) The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with our commercial clients.
Realty Income increased monthly dividends to $0.255/share. This is a 3.24% increase over the dividend paid during the same time last year. Realty Income is a dividend aristocrat which has managed to increase dividends since its IPO 1994.
The company has managed to increase dividends by 3.20%/year over the past 5 years and by 5.30%/year over the past decade.
"I'm pleased that our Board has once again determined to increase Realty Income's monthly dividend. This decision is in line with our foundational commitment to pay stockholders a reliable monthly dividend that grows over time," said Sumit Roy, President and Chief Executive Officer of Realty Income. "Today's dividend declaration represents the 633rd consecutive monthly dividend declared by Realty Income during our 54-year history."
Realty Income has managed to grow FFO from $2.41/share in 2013 to $4.04/share in 2022. The company is expected to generate $4.11/share in FFO in 2023.
The stock is fairly valued at 14.90 times forward FFO and yields 5%.
UDR, Inc. (UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted U.S. markets.
UDR raised quarterly dividends by 10.50% to $0.42/share. This is the 13th year of consecutive annual dividend increases for this dividend achiever.
The company has managed to increase dividends by 4.20%/year over the past 5 years and by 5.60%/year over the past decade.
UDR has managed to grow FFO from $1.45/share in 2013 to $2.21/share in 2022. The company is expected to generate $2.50/share in FFO in 2023.
The stock is fairly valued at 15.50 times forward FFO and yields 4.32%.
Williams-Sonoma, Inc. (WSM) operates as an omni-channel specialty retailer of various products for home.
The company raised quarterly dividends by 15.38% to $0.90/share. This is the 14th consecutive annual dividend increase for this dividend achiever.
“We are proud of our fourteen consecutive years of increased dividend payouts,” added Jeff Howie, Chief Financial Officer. “Over the last five years, we have returned over $3.2 billion to shareholders through dividends and share repurchases. These actions reflect our commitment to maximizing returns for our shareholders.”
The company has managed to increase dividends by 14.60%/year over the past 5 years and by 13.20%/year over the past decade.
Williams-Sonoma has managed to grow EPS from $2.89/share in 2014 to $16.58/share in 2023. The company is expected to generate $13.69/share in EPS in 2024.
The stock is fairly valued at 8.53 times forward earnings and yields 3.08%.
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