I review the list of dividend increases as part of my monitoring process.
There were 15 companies that increased dividends last week. Ten of those companies have each managed to increase dividends for at least ten consecutive years.
The companies include:
Bar Harbor Bankshares (BHB) operates as the holding company for Bar Harbor Bank & Trust that provides banking and nonbanking products and services primarily to consumers and businesses.
The company raised quarterly dividends by 6.70% to $0.32/share. This is the 22nd consecutive year of dividend increases for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 6.95%.
The company managed to grow earnings from $1.69/share in 2015 to $2.86/share in 2024.
The company is projected to earn $2.92/share in 2025.
The stock sells for 9.90 times forward earnings and yields 4.14%.
Costco Wholesale Corporation (COST) engages in the operation of membership warehouses.
The company raised quarterly dividends by 12.10% to $1.10/share. This is the 21st consecutive year of dividend increases for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 12.59%.
The company managed to grow earnings from $5.41/share in 2015 to $16.60/share in 2024.
The company is projected to earn $18.07/share in 2025.
The stock sells for 55 times forward earnings and yields 0.47%.
Donegal Group Inc., (DGICA) (DGICB) an insurance holding company, provides commercial and personal lines of property and casualty coverages. It operates through three segments: Investment Function, Commercial Lines of Insurance, and Personal Lines of Insurance.
It raised dividends on its A shares by 5.80% to $0.1825/share. It raised dividends on its B shares by 6.50% to $0.1650/share.
The company has raised dividends for 23 years in a row and is a member of the dividend achievers list.
Over the past decade, it has managed to grow distributions at an annualized rate of 2.79% for the A shares to 2.92% for the B shares.
That's a lot of of complexity for such a slow rate of dividend growth.
The A stock sells for 12.60 times forward earnings and yields 3.78%.
The B stock sells for 12.06 times earnings and yields 3.73%
H.B. Fuller Company (FUL) formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products. It operates through three segments: Hygiene, Health and Consumable Adhesives; Engineering Adhesives; and Construction Adhesives.
The company raised quarterly dividends by 5.60% to $0.235/share. This is the 56th consecutive year of dividend increases for this dividend king. Over the past decade, the company has managed to grow dividends at an annualized rate of 6.61%.
The company managed to grow earnings from $1.72/share in 2015 to $2.37/share in 2024.
The company is projected to earn $4.07/share in 2025.
The stock sells for 13.21 times forward earnings and yields 1.75%.
Johnson & Johnson (JNJ) engages in the research and development, manufacture, and sale of various products in the healthcare field worldwide. It operates in two segments, Innovative Medicine and MedTech.
The company raised quarterly dividends by 4.80% to $1.30/share. This is the 63rd consecutive year of dividend increases for this dividend king. Over the past decade, the company has managed to grow dividends at an annualized rate of 5.93%.
The company managed to grow earnings from $5.56/share in 2015 to $5.84/share in 2024.
The company is projected to earn $10.57/share in 2025. Note this is adjusted EPS. For comparison purposes, teh 2024 adjusted EPS was $9.98.
The stock sells for 14.50 times forward earnings and yields 3.30%.
Sonoco Products Company (SON) designs, develops, manufactures, and sells various engineered and sustainable packaging products in the United States, Europe, Canada, the Asia Pacific, and internationally. The company operates in two segments, Consumer Packaging and Industrial Paper Packaging.
The company raised quarterly dividends by 1.90% to $0.53/share. This is the 42nd consecutive year of dividend increases for this dividend champion. Over the past decade, the company has managed to grow dividends at an annualized rate of 5.01%.
The company's earnings went from $2.46/share in 2015 to $1.66/share in 2024.
The company is projected to earn $5.94/share in 2025.
The stock sells for 7.39 times forward earnings and yields 4.74%.
Star Group, L.P. (SGU) provides home heating oil and propane products and services to residential and commercial customers in the United States
The partnership hiked its quarterly distributions by 7.20% to $0.1850/unit. This marks the 13th year of continuous annual increases in the Company’s distribution. It has a ten year annualized distribution growth of 7% over the past decade.
The partnership yields 5.41%.
The Travelers Companies, Inc. (TRV) provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally. The company operates through three segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance.
The company raised quarterly dividends by 4.80% to $1.10/share. This is the 21st consecutive year of dividend increases for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 6.80%.
The company managed to grow earnings from $10.99/share in 2015 to $21.76/share in 2024.
The company is projected to earn $18.27/share in 2025.
The stock sells for 14 times forward earnings and yields 1.72%.
United Bancorp, Inc. (UBCP) operates as the bank holding company for Unified Bank that provides commercial and retail banking services in Ohio.
The company raised its quarterly dividend to $0.185/share. This is a 5.71% increase over the dividend paid during the same time last year. This is the 12th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 7.89%.
The company managed to grow earnings from $0.65/share in 2015 to $1.27/share in 2024.
The company is projected to earn $1.40/share in 2025.
The stock sells for 9.45 times forward earnings and yields 6.84%