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 11 companies that increased dividends last week. There were four companies that raised dividends last week, which have also managed to increase dividends for at least ten years in a row. The companies include:
JPMorgan Chase & Co. (JPM) operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM).
JPMorgan Chase increased quarterly dividends by 9.50% to $1.15/share. This is the 14th consecutive annual dividend increase for this dividend achiever.
Over the past decade, the company has managed to grow dividends at an annualized rate of 11.53%.
Between 2014 and 2023, the company managed to grow earnings from $5.33/share to $16.25/share.
The company is expected to earn $15.96/share in 2024.
The stock sells for 12.32 times forward earnings and yields 2.33%.
Globe Life Inc. (GL) provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.
Globe Life increased quarterly dividends by 6.70% to $0.24/share. This is the 19th consecutive annual dividend increase for this dividend achiever.
During the past decade, the company managed to grow dividends at an annualized rate of 7.21%.
Between 2014 and 2023, the company managed to grow earnings from $4.09/share to $10.21/share.
The stock sells for 10 times forward earnings and yields 0.82%.
Independent Bank Corp. (INDB) operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States.
Independent Bank increased quarterly dividends by 4% to $0.57/share. This is the 14th year of consecutive annual dividend increases for this dividend achiever.
The company has managed to grow dividends at an annualized rate of 9.72% over the past decade.
Between 2014 and 2023, the company managed to grow earnings from $2.50/share to $5.42/share.
The stock sells for 11 times forward earnings and yields 4.43%.
CareTrust REIT, Inc. (CTRE) is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties.
CareTrust REIT increased quarterly dividends by 3.60% to $0.29/share. This is the tenth consecutive annual dividend increases for this newly minted dividend achiever.
The REIT has managed to grow distributions at an annualized rate of 6.90% over the past five years.
The stock sells for 15.83 times forward FFO and yields 4.83%.
Relevant Articles:
- 16 Dividend Growth Companies That Increased Dividends Last Week
