As part of my monitoring process, I review the list of dividend increases every week. This exercise helps me to monitor existing holdings and also identify companies for further research.
Dividend increases reflect company's confidence in their business and strategic plans. A solid dividend policy of sharing a portion of earnings drives value for shareholders.
Over the past week, there were six companies which increased dividends to shareholders and also have at least a ten year track record of annual dividend increases. The companies include:
Accenture plc (ACN) is a professional services company, provides strategy and consulting, interactive, industry X, song, and technology and operation services worldwide.
The company increased quarterly dividends by 15.20% to $1.29/share. This is the 18th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 10.50%.
Between 2014 and 2023, Accenture managed to grow earnings from $4.64/share to $10.90/share.
The company is expected to earn $12.23/share in 2024.
The stock sells for 25.11 times forward earnings and yields 1.68%
City Holding Company (CHCO) operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States.
The company increased quarterly dividends by 10% to $0.715/share. This is the 18th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 5.80%.
Between 2013 and 2022, City Holding managed to grow earnings from $3.07/share to $6.81/share.
The company is expected to earn $7.68/share in 2024.
The stock sells for 11.76 times forward earnings and yields 3.16%
Honeywell International Inc. (HON) operates as a diversified technology and manufacturing company worldwide.
The company increased quarterly dividends by 4.90% to $1.08/share. This is the 13th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 10%.
Between 2014 and 2023, Honeywell managed to grow earnings from $4.99/share to $7.33/share.
The company is expected to earn $9.16/share in 2024.
The stock sells for 20.18 times forward earnings and yields 2.33%
Johnson Outdoors Inc. (JOUT) designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving.
The company increased quarterly dividends by 6.50% to $0.33/share. This is the 10th year of consecutive annual dividend increases for this newly minted dividend achiever. Over the past five years the company has managed to grow dividends at an annualized rate of 26.70%.
Between 2014 and 2023, Johnson Outdoors managed to grow earnings from $2.03/share to $4.40/share.
The company is expected to earn $3.38/share in 2024.
The stock sells for 16.18 times forward earnings and yields 2.41%
OGE Energy Corp (OGE) operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments.
The company increased quarterly dividends by 1% to $0.4182/share. This is the 17th year of consecutive annual dividend increases for this newly minted dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 7.70%.
Between 2014 and 2023, OGE Energy managed to grow earnings from $1.94/share to $3.32/share.
The company is expected to earn $2.01/share in 2024.
The stock sells for 16.62 times forward earnings and yields 4.94%
Trinity Bank, N.A. (TYBT) provides personal and business banking products and services in Texas.
The company increased quarterly dividends by 4.90% to $0.85/share. This is the 10th year of consecutive annual dividend increases for this dividend contender. Over the past decade, the company managed to grow dividends at an annualized rate of 14.40%.
Between 2013 and 2022, the company managed to grow earnings from $2.38/share to $5.37/share.
The stock sells for 14.33 times earnings and yields 4%
Relevant Articles:
- Eight Dividend Growth Companies Increasing Dividends Last Week
- Three Dividend Growth Companies Increasing Dividends Last Week
- Seven Dividend Growth Stocks Raising Distributions Last Week
- Three Dividend Growth Stocks Rewarding Shareholders With Raises
