Stocks Investment

Dividend Changes: August 8-14, 2020

This article was co-produced with James Marino Sr. of Portfolio Insight.

We monitor dividend increases for stocks using [Dividend Radar], a weekly automatically generated spreadsheet listing stocks with dividend streaks of five years or more. The Dividend Radar spreadsheet separates stocks into categories based on the length of the streak: Champions (25+ years), Contenders (10- 24 years), and Challengers (5-9 years).

In the past week, six companies in Dividend Radar declared dividend increases. There were no dividend cuts or suspensions.

The following table provides a summary of the increases.

The table is sorted into sections for Champions, Contenders, and Challengers, and then by the percentage increase, %Incr. Dividends are annualized and in US$, unless otherwise indicated. Yield is the new dividend yield for the market close Price on the date listed. Yrs are years of consecutive dividend increases, while 5-yr DGR is the compound annual growth rate of the dividend over a 5-year period.

Some companies increase their dividends more than once a year, so the last column (1-yr DGR) indicates the percentage increase from the year-ago dividend.

Source: Created by the authors from data in Dividend Radar.

The following dividend increase data are sorted alphabetically by ticker.

Company descriptions are the author’s summary of company descriptions sourced from Finviz.

Broadridge Financial Solutions, Inc. (BR)

BR provides investor communications and technology-driven solutions for the financial services industry in the United States, Canada, the United Kingdom, and internationally. Customers include banks, broker-dealers, mutual funds, and corporate issuers globally. BR was founded in 1962 and is headquartered in Lake Success, New York.

  • On Aug. 10, BR declared a quarterly dividend of 57.5¢ per share.
  • This is an increase of 6.48% from the prior dividend of 54¢.
  • Payable Oct. 5, to shareholders of record on Sept. 15; ex-div: Sept. 14.

Cboe Global Markets, Inc. (CBOE)

Founded in 1973 and headquartered in Chicago, Illinois, CBOE operates as an options exchange in the United States. The company operates in five segments: Options, U.S. Equities, Futures, European Equities, and Global FX. CBOE was formerly known as CBOE Holdings, Inc. and changed its name to Cboe Global Markets, Inc. in October 2017.

  • On Aug. 14, CBOE declared a quarterly dividend of 42¢ per share.
  • This is an increase of 16.67% from the prior dividend of 36¢.
  • Payable Sept. 15, to shareholders of record on Aug. 28; ex-div: Aug. 27.

International Flavors & Fragrances Inc. (IFF)

Founded in 1833 and headquartered in New York, New York, IFF creates, manufactures, and supplies flavors and fragrances for use in a variety of consumer products. IFF provides flavor compounds to the food and beverage industries, and fragrance compounds and ingredients to manufacturers of cosmetic and personal care products.

  • On Aug. 10, IFF declared a quarterly dividend of 77¢ per share.
  • This is an increase of 2.67% from the prior dividend of 75¢.
  • Payable Oct. 5, to shareholders of record on Sept. 24; ex-div: Sept. 23.

Martin Marietta Materials, Inc. (MLM)

Founded in 1993 and headquartered in Raleigh, North Carolina, MLM, a natural resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. MLM offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services, and Portland and specialty cement.

  • On Aug. 13, MLM declared a quarterly dividend of 57¢ per share.
  • This is an increase of 3.64% from the prior dividend of 55¢.
  • Payable Sept. 30, to shareholders of record on Sept. 1; ex-div: Aug. 31.

Nordson Corporation (NDSN)

NDSN engineers, manufactures, and markets differentiated products and systems for precision dispensing of adhesives, coatings, polymers, sealants, biomaterials, plastics and other materials, fluid management, testing and inspection, surface treatment, and curing. The company markets its products in the United States and internationally through direct sales force, distributors, and sales representatives. NDSN was founded in 1954 and is headquartered in Westlake, Ohio.

  • On Aug. 14, NDSN declared a quarterly dividend of 39¢ per share.
  • This is an increase of 2.63% from the prior dividend of 38¢.
  • Payable Sept. 8, to shareholders of record on Aug. 25; ex-div: Aug. 24.

Westlake Chemical Corporation (WLK)

WLK is an international manufacturer and supplier of basic chemicals, vinyls, polymers, and building products. The company’s products are used in various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, and residential and commercial construction. WLK was founded in 1985 and is headquartered in Houston, Texas.

  • On Aug. 14, WLK declared a quarterly dividend of 27¢ per share.
  • This is an increase of 2.86% from the prior dividend of 26.25¢.
  • Payable Sept. 9, to shareholders of record on Aug. 25; ex-div: Aug. 24.

Please note that we’re not recommending any of these stocks. Readers should do their own research on these companies before buying shares.

Below, we’re including charts from F.A.S.T. Graphs for three of this week’s dividend raisers, BR, MLM, and IFF.

In these charts, the black line represents the share price, and the blue line represents the calculated P/E multiple at which the market has tended to value the stock over time. The orange line is the primary valuation reference line. It is based on one of three valuation formulas depending on the earnings growth rate achieved over the time frame in question. (The Adjusted Earnings Growth Rate represents the slope of the orange line in the chart).

Source: F.A.S.T. Graphs

BR’s price line [black] is above the primary valuation line [orange] and above the stock’s normal P/E ratio [blue]. The stock is trading at a premium to fair value. An investment in BR in July 2010 would have returned 22.6% on an annualized basis (with dividends included).

Source: F.A.S.T. Graphs

MLM’s price line is below the stock’s normal P/E ratio and above the primary valuation line. The stock is trading at a discount to fair value. An investment in MLM in January 2010 would have returned 9.5% on an annualized basis (with dividends included).

Source: F.A.S.T. Graphs

IFF’s price line is above the primary valuation line and above the stock’s normal P/E ratio. The stock is trading at a premium to fair value. An investment in IFF in January 2010 would have returned 12.5% on an annualized basis (with dividends included).

Dividend Cuts and Suspensions

Following requests from readers, we’ve added this section to our weekly article series. Please note that we’re only covering dividend cuts and suspensions announced by companies in Dividend Radar’s spreadsheet.

We didn’t notice announcements of dividend cuts or suspensions last week.

Upcoming Ex-Dividend Dates

Here is a summary of available ex-dividend dates for the next two weeks. You must own a stock before its ex-dividend date to be eligible to receive the next dividend.

The table is divided into sections by Ex-Div Date and sorted by Ticker for each date. Please note that Payout is the dollar amount payable per share or unit on the Pay Date.

Summary of Upcoming Ex-Dividend Dates: August 17-30, 2020

Company (Ticker)

Yrs

Price

(14.Aug)

Yield

5-Yr

DGR

Pay-

out

Pay

Date

Monday, 17 August (Ex-Div Date 08/17)

Bar Harbor Bankshares (BHB)

17

$21.32

4.13%

6.6%

0.22

09/18

Black Hills Corporation (BKH)

50

$58.53

3.66%

5.8%

0.535

09/01

Cable One, Inc. (CABO)

5

$1870.17

0.53%

0.0%

2.5

09/04

Carlisle Companies Incorporated (CSL)

44

$125.83

1.67%

14.9%

0.525

09/01

Materion Corporation (MTRN)

8

$58.64

0.78%

5.2%

0.115

09/04

Phillips 66 (PSX)

8

$63.66

5.66%

11.8%

0.9

09/01

Tuesday, 18 August (Ex-Div Date 08/18)

Archer-Daniels-Midland Company (ADM)

45

$44.59

3.23%

6.4%

0.36

09/09

Aflac Incorporated (AFL)

38

$38.07

2.94%

7.4%

0.28

09/01

Assured Guaranty Ltd. (AGO)

9

$23.87

3.35%

10.6%

0.2

09/02

Aramark (ARMK)

6

$24.99

1.76%

5.7%

0.11

09/02

BWX Technologies, Inc. (BWXT)

5

$59.14

1.29%

12.5%

0.19

09/08

Chevron Corporation (CVX)

33

$90.35

5.71%

3.0%

1.29

09/10

Consolidated Edison, Inc. (ED)

46

$73.53

4.16%

3.3%

0.765

09/15

Equinix, Inc. (REIT) (EQIX)

6

$762.01

1.40%

24.8%

2.66

09/23

Hennessy Advisors, Inc. (HNNA)

8

$8.96

6.14%

31.5%

0.1375

09/10

Main Street Capital Corporation (MAIN)

11

$32.80

7.50%

3.7%

0.205

09/15

Marathon Petroleum Corporation (MPC)

9

$38.35

6.05%

17.3%

0.58

09/10

RE/MAX Holdings, Inc. (RMAX)

5

$35.56

2.47%

18.1%

0.22

09/02

Target Corporation (TGT)

53

$136.53

1.99%

4.9%

0.68

09/10

Vulcan Materials Company (VMC)

7

$129.74

1.05%

32.4%

0.34

09/04

Walgreens Boots Alliance, Inc. (WBA)

45

$41.91

4.46%

6.3%

0.4675

09/11

Wednesday, 19 August (Ex-Div Date 08/19)

Avista Corporation (AVA)

18

$37.25

4.35%

4.1%

0.405

09/15

Discover Financial Services (DFS)

10

$54.30

3.24%

12.0%

0.44

09/03

Evergy, Inc. (EVRG)

17

$53.57

3.77%

7.0%

0.505

09/21

Fidelity D & D Bancorp, Inc. (OTC:FDBC)

6

$48.26

2.32%

10.1%

0.28

09/10

Griffon Corporation (GFF)

9

$22.13

1.36%

14.7%

0.075

09/17

Littelfuse, Inc. (LFUS)

10

$187.89

1.02%

13.9%

0.48

09/03

Moody’s Corporation (MCO)

11

$281.05

0.80%

11.3%

0.56

09/10

Microsoft Corporation (MSFT)

18

$208.90

0.98%

10.5%

0.51

09/10

ResMed Inc. (RMD)

8

$176.78

0.88%

6.9%

0.39

09/24

Southside Bancshares, Inc. (SBSI)

26

$29.76

4.17%

9.0%

0.31

09/03

Snap-on Incorporated (SNA)

11

$153.64

2.81%

15.6%

1.08

09/10

Thomson Reuters Corporation (TRI)

27

$75.16

2.02%

2.2%

0.38

09/15

Umpqua Holdings Corporation (UMPQ)

9

$12.01

6.99%

1.0%

0.21

08/31

Thursday, 20 August (Ex-Div Date 08/20)

Cogent Communications Holdings, Inc. (CCOI)

8

$67.90

4.15%

13.5%

0.705

09/04

Cummins Inc. (CMI)

15

$213.51

2.45%

11.0%

1.311

09/03

Core-Mark Holding Company, Inc. (CORE)

9

$31.61

1.52%

13.5%

0.12

09/18

FLIR Systems, Inc. (FLIR)

9

$37.80

1.80%

10.1%

0.17

09/04

Healthcare Services Group, Inc. (HCSG)

17

$22.66

3.62%

2.7%

0.2038

09/25

The Hershey Company (HSY)

11

$146.07

2.20%

7.6%

0.804

09/15

Microchip Technology Incorporated (MCHP)

17

$100.20

1.47%

0.6%

0.368

09/04

Magna International Inc. (MGA)

11

$52.53

3.05%

13.3%

0.4

09/04

MGP Ingredients, Inc. (MGPI)

6

$36.49

1.32%

49.0%

0.12

09/04

Primerica, Inc. (PRI)

10

$135.80

1.18%

21.5%

0.4

09/14

The Sherwin-Williams Company (SHW)

42

$666.56

0.80%

15.2%

1.34

09/11

Schweitzer-Mauduit International, Inc. (SWM)

8

$34.00

5.18%

3.3%

0.44

09/18

TE Connectivity Ltd. (TEL)

10

$94.76

2.03%

9.2%

0.48

09/04

The Timken Company (TKR)

6

$55.37

2.02%

2.1%

0.28

09/03

Tetra Tech, Inc. (TTEK)

6

$93.91

0.72%

16.4%

0.17

09/04

Friday, 21 August (Ex-Div Date 08/21)

Atmos Energy Corporation (ATO)

36

$104.50

2.20%

7.9%

0.575

09/08

Gladstone Land Corporation (LAND)

6

$15.80

3.42%

5.8%

0.0448

08/31

MKS Instruments, Inc. (MKSI)

9

$124.40

0.64%

3.8%

0.2

09/04

3M Company (MMM)

62

$166.10

3.54%

9.1%

1.47

09/12

Ryder System, Inc. (R)

16

$39.34

5.69%

8.7%

0.56

09/18

Tractor Supply Company (TSCO)

11

$148.60

1.08%

15.5%

0.4

09/09

United Parcel Service, Inc. (UPS)

11

$160.74

2.51%

7.1%

1.01

09/09

Monday, 24 August (Ex-Div Date 08/24)

Brunswick Corporation (BC)

8

$64.68

1.48%

13.2%

0.24

09/11

CDW Corporation (CDW)

7

$113.52

1.34%

42.4%

0.38

09/10

Johnson & Johnson (JNJ)

58

$148.24

2.73%

6.3%

1.01

09/08

Nordson Corporation (NDSN)

57

$206.67

0.74%

11.6%

0.39

09/08

Prudential Financial, Inc. (PRU)

12

$70.59

6.23%

13.1%

1.1

09/17

Robert Half International Inc. (RHI)

16

$56.63

2.40%

11.3%

0.34

09/15

Westlake Chemical Corporation (WLK)

16

$60.97

1.72%

9.7%

0.27

09/09

Tuesday, 25 August (Ex-Div Date 08/25)

Ritchie Bros. Auctioneers Incorporated (RBA)

17

$62.19

1.42%

7.4%

0.22

09/16

S&P Global Inc. (SPGI)

47

$352.27

0.76%

14.5%

0.67

09/10

Wednesday, 26 August (Ex-Div Date 08/26)

Barnes Group Inc. (B)

9

$40.94

1.56%

6.4%

0.16

09/10

LeMaitre Vascular, Inc. (LMAT)

10

$28.38

1.34%

19.1%

0.095

09/10

Maxim Integrated Products, Inc. (MXIM)

18

$68.60

2.80%

11.4%

0.48

09/11

Resources Connection, Inc. (RGP)

10

$12.56

4.46%

11.9%

0.14

09/24

The Scotts Miracle-Gro Company (SMG)

11

$163.63

1.52%

5.2%

0.62

09/10

STERIS plc (STE)

15

$158.70

1.01%

10.0%

0.4

09/24

Xylem Inc. (XYL)

9

$79.62

1.31%

13.2%

0.26

09/24

Thursday, 27 August (Ex-Div Date 08/27)

The Allstate Corporation (ALL)

10

$96.12

2.25%

12.4%

0.54

10/01

Argo Group International Holdings, Ltd. (ARGO)

7

$36.38

3.41%

16.6%

0.31

09/11

Badger Meter, Inc. (BMI)

28

$66.82

1.08%

12.4%

0.18

09/11

Cboe Global Markets, Inc. (CBOE)

10

$88.26

1.63%

11.4%

0.42

09/15

Cabot Corporation (CBT)

9

$40.60

3.45%

9.7%

0.35

09/11

Evercore Inc. (EVR)

14

$64.21

3.61%

16.3%

0.58

09/11

Fortune Brands Home & Security, Inc. (FBHS)

8

$83.06

1.16%

12.1%

0.24

09/16

Flowers Foods, Inc. (FLO)

18

$24.52

3.26%

7.8%

0.2

09/11

Corning Incorporated (GLW)

10

$32.32

2.72%

13.8%

0.22

09/30

Huntington Ingalls Industries, Inc. (HII)

8

$166.89

2.47%

23.1%

1.03

09/11

National Bank Holdings Corporation (NBHC)

5

$29.88

2.68%

31.6%

0.2

09/15

NextEra Energy, Inc. (NEE)

26

$280.50

2.00%

12.1%

1.4

09/15

Nu Skin Enterprises, Inc. (NUS)

20

$47.52

3.16%

1.4%

0.375

09/09

Parker-Hannifin Corporation (PH)

64

$209.62

1.68%

8.2%

0.88

09/11

Perrigo Company plc (PRGO)

18

$53.40

1.69%

13.6%

0.225

09/15

Weyco Group, Inc. (WEYS)

39

$19.23

4.99%

4.5%

0.24

09/30

Friday, 28 August (Ex-Div Date 08/28)

Agnico Eagle Mines Limited (AEM)

5

$79.05

1.01%

17.0%

0.2

09/15

Assurant, Inc. (AIZ)

16

$125.07

2.01%

17.5%

0.63

09/22

Brookfield Asset Management Inc. (BAM)

9

$33.64

1.43%

8.8%

0.12

09/30

Brookfield Renewable Partners L.P. (BEP)

6

$43.40

4.01%

5.7%

0.434

09/30

Brookfield Infrastructure Partners L.P. (BIP)

13

$44.39

4.37%

9.1%

0.485

09/30

Bank of Hawaii Corporation (BOH)

5

$59.27

4.52%

8.1%

0.67

09/15

Brookfield Property Partners L.P. (BPY)

7

$12.04

11.05%

5.2%

0.3325

09/30

Brookfield Property REIT Inc. (BPYU)

10

$11.93

11.15%

15.3%

0.3325

09/30

Cullen/Frost Bankers, Inc. (CFR)

27

$75.67

3.75%

6.6%

0.71

09/15

Central Pacific Financial Corp. (CPF)

7

$16.80

5.48%

15.9%

0.23

09/15

CSX Corporation (CSX)

16

$74.25

1.40%

8.7%

0.26

09/15

Dover Corporation (DOV)

65

$111.52

1.78%

4.2%

0.495

09/15

FactSet Research Systems Inc. (FDS)

22

$354.59

0.87%

12.7%

0.77

09/17

Hubbell Incorporated (HUBB)

13

$146.30

2.49%

10.4%

0.91

09/15

Nike, Inc. (NKE)

19

$106.43

0.92%

12.1%

0.245

10/01

Power Integrations, Inc. (POWI)

8

$116.28

0.38%

9.6%

0.11

09/30

Stepan Company (SCL)

52

$116.68

0.94%

8.7%

0.275

09/15

STAG Industrial, Inc. (STAG)

8

$32.60

4.42%

1.5%

0.12

09/15

Tennant Company (TNC)

47

$71.04

1.24%

1.9%

0.22

09/15

Union Pacific Corporation (UNP)

14

$191.92

2.02%

13.1%

0.97

09/30

Source: Created by the authors from data in Dividend Radar

With so many stocks going ex-dividend in the next two weeks, we can use added value metrics in Dividend Radar to highlight interesting candidates.

We screen for stocks trading In the Margin of Safety or At Fair Value with positive 3-yr trailing total returns (3-yr TTR).

Source: Created by the authors from data in Dividend Radar

Next, we like to look for stocks whose 1-yr TTR is greater than their 3-yr TTR (colored green in the table). Several stocks pass these screens, and this week we’ll look at FBHS.

Dividend Challenger FBHS provides home and security products for residential home repair, remodeling, new construction, and security applications. FBHS yields 1.16% at $83.06 per share and offers a 5-yr DGR of about 12%.

Source: Portfolio Insight

The stock has a quality score of 16 (Rating: Decent).

Last week, the stock received bullish coverage by two different authors on Seeking Alpha:

As always, we encourage readers to do their own due diligence research before investing in any stocks we write about.

Thanks for reading and happy investing!

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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