I review dividend increases weekly, as part of my monitoring process. This exercise helps to keep me informed on developments from companies I own and companies I may be interested in.
I typically focus my attention on those companies that have increased dividends annualy for at least ten years in a row.
There were four companies that raised dividends last week, which also have a ten year track record of annual dividend increases as well. The companies include:
Capital City Bank Group, Inc. (CCBG) operates as the financial holding company for Capital City Bank that provides a range of banking- related services to individual and corporate clients.
Capital City Bank raised quarterly dividends by 9.50% to $0.23/share. This is the tenth consecutive annual dividend increase for this newly minted dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 35.26%. That's mostly because it started out with a small dividend and a low payout ratio a decade or so ago after suspending dividends after the financial crisis.
The company managed to grow earnings from $0.53/share in 2014 to $3.08/share in 2023.
The company is expected to earn $3.09/share in 2024.
The stock sells for 11.20 times forward earnings and yields 2.67%.
Ingredion Incorporated (INGR) manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.
Ingredion raised quarterly dividends by 2.60% to $0.80/share. This is the 14th 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 7.59%.
The company managed to grow earnings from $4.82/share in 2014 to $9.74/share in 2023.
The company is expected to earn $9.94/share in 2024.
The stock sells for 13.50 times forward earnings and yields 2.38%.
Lam Research Corporation (LRCX) designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits.
Lam Research raised quarterly dividends by 15% to $2.30/share. This is the tenth consecutive annual dividend increase for this newly minted dividend achiever. Over the past five years the company has managed to grow dividends at an annualized rate of 12.70%.
The company managed to grow earnings from $4.11/share in 2015 to $29.13/share in 2024.
The company is expected to earn $35.84/share in 2025.
The stock sells for 22.90 times forward earnings and yields 1.12%.
Peoples Ltd. (PPLL) operates as the holding company for PS Bank that engages in the provision of various financial services to individuals, small businesses, and corporate customers in Pennsylvania, the United States.
Peoples raised quarterly dividends by 1.60% to $0.63/share. This is the 12th consecutive annual dividend increase for this dividend achiever. Over the past decade, the comapny has managed to grow dividends at an annualized rate of 9.80%.
The company managed to grow earnings from $3.63/share in 2014 to $8.93/share in 2023.
The stock sells for 8.90 times earnings and yields 3.85%.
