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Busy Week For Dividend Increases
By: Dividend Growth Investor   Friday, January 22, 2010 2:53 PM
Symbols: ED, EPL, FDO, FINL, III, MHP, MLP, OHI, OKE, PII, PLL, TIF, WPO, WSC
(OKE), which engages in the purchase, transportation, storage, and distribution of natural gas in the United States and Canada, increased its quarterly dividend by 4.80% to 44 cents per share. ONEOK, Inc. is a general partner of ONEOK Partners L.P. (OKS) and has raised dividends for 8 consecutive years. The stock currently yields 3.70%.

ONEOK Partners, L.P. (OKS), which engages in the ownership and management of natural gas gathering, processing, storage, and interstate and intrastate pipeline assets, as well as natural gas liquids (NGLs) gathering and distribution pipelines, increased its quarterly distribution $1.10 per unit. This master limited partnership has increased its quarterly distributions in each of the past five consecutive years. The units currently yield 6.80%.

Spectra Energy Partners, LP (SEP), which engages in the transportation of natural gas through interstate pipeline systems, and the storage of natural gas in underground facilities in the United States, increased its quarterly dividend from 40 to 41 cents per unit. This is the ninth consecutive quarterly distribution increase for Spectra Energy Partners, LP since it went public in 2007. This master limited partnership currently yields 5.30%.

Tiffany & Co. (TIF), which engages in the design, manufacture, and retail of fine jewelry., increased its quarterly dividend by 18% to 20 cents per share. In addition to that the company announced that it would be resuming its stock buyback plan. Tiffany & Co. has increased its annual dividend in each of the past eight years. The stock currently yields 1.50%.

Pall Corporation (PLL), which manufactures and markets filtration, purification, and separation products and integrated systems solutions worldwide, increased its quarterly dividend by 10.30% to 16 cents per share. This is the sixth consecutive dividend increase for Pall Corporation since the company cut dividends in 2002. The stock currently yields 1.50%.

Finish Line, Inc. (FINL), which operates as a mall-based specialty retailer in the United States, increased its quarterly dividend by 33% to 4 cents per share. This is only the second dividend increase from the company since 2007. The stock also currently yields only 1.40%, which coupled with the short history of dividend raises makes it a pass for now.
Summary

I like Con Edison (ED) as a stock better suited for current income. McGraw-Hill Companies (MHP) looks like an interesting position to add on dips below $31.30. Polaris Industries Inc. (PII) also looks like an interesting company that I would add to my list for further research.

Full Disclosure: Long FDO, ED and MHP

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