I review the list of dividend increases every week, as part of my monitoring process. I usually focus my attention on the companies with a ten year streak of annual dividend increases, and then review each company using my criteria. I am always on the lookout for new ideas, and to determine if my existing holdings are working. I also want to be ready to act quickly, when the right time arrives.
This exercise helps me to evaluate companies I already own, and see how they are doing. This is a helpful piece of the puzzle, that would be helpful when/if I decide to add to these companies at the right price.
This exercise also helps me identify companies for further research. A large part of the time is spent reviewing companies, screening for companies, and trying to learn more about companies, their business, etc.
It is not glamorous at all, but dull and boring.
But it does pay dividends.
During the past week, there were six companies that both raised dividends to shareholders and have a ten year streak of consecutive annual dividend increases. The companies include:
(This of course is just a list, not a recommendation)
Flowers Foods, Inc. (FLO) produces and markets packaged bakery food products in the United States.
The company increased quarterly dividends by 4.30% to $0.24/share. This is the 22nd consecutive annual dividend increase for this dividend achieverdividend achiever. Over the past decade, the company has managed to raise dividends at an annualized rate of 7.40%
Earnings went from $0.84/share in 2015 to $0.58/share in 2023.
The company is expected to earn $1.22/share in 2024.
The stock sells for 19.20 times forward earnings and yields 4.10%.
Insperity, Inc. (NSP) engages in the provision of human resources (HR) and business solutions to improve business performance for small and medium-sized businesses primarily in the United States.
The company increased quarterly dividends by 5.30% to $0.60/share. This is the 14th consecutive annual dividend increase for this dividend achiever.dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 20.70%. The pace of dividend growth has been decelerating in the past few years however.
Between 2014 and 2023, Insperity managed to boost earnings from $0.53/share to $4.53/share.
The company is expected to earn $3.65/share in 2024.
Medtronic plc (MDT) develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide.
The company eked out a 1.40% increase in its quarterly dividend to $0.70/share. Nevertheless this was the 47th consecutive year of dividend increases for this dividend aristocratdividend aristocrat. The rate of increase was much slower than the ten year annualized dividend growth of 9.75% however.
Earnings went from $2.44/share in 2015 to $2.77/share in 2023.
The company is expected to earn $5.45/share in 2024.
The stock sells for 15.10 times forward earnings and yields 3.40%
Universal Corporation (UVV) processes and supplies leaf tobacco and plant-based ingredients worldwide. The company operates through two segments, Tobacco Operations; and Ingredients Operations.
The company increased dividends by 1% to $0.81/share. This was the 54th consecutive annual dividend increase for this dividend kingdividend king. Over the past decade, the company managed to increase dividends at an annualized rate of 4.74%.
Between 2015 and 2024, the company managed to slightly boost earnings per share from $4.33 to $4.81.
The company is expected to earn $4.78/share in 2024.
The stock sells for 9.70 times earnings and yields 7.04%.
