As the U.S. market traded in a flat mode, several companies declared their future dividend plans. Some notable dividend payers are discussed here.
Kinder Morgan Inc. (NYSE: KMI),a leading pipeline transportation and energy storage company in North America, declared a dividend of $0.30 per share, $1.20 annualized, payable on November 15, 2011, to shareholders of record on October 31, 2011. This represents an increase of 3 percent from the declared dividend of $0.29 per share, $1.16 annualized, that was announced when KMI was taken public in February of this year. Shares added 1.70 percent, or $0.47, to trade at $28.05.
Shaw Communications Inc. (NYSE: SJR), a diversified communications company providing broadband cable television, internet, digital phone, telecommunications and satellite direct-to-home services, announced today that its board of directors declared the quarterly dividend on its cumulative redeemable rate reset preferred shares, series A for the three-month period ended December 31, 2011. The dividend of $0.28125 per series A share will be payable on January 3, 2012, to shareholders of record on December 15, 2011. Shares fell 1.98 percent, or $0.41, to trade at $20.29.
Watsco Inc. (NYSE: WSO), which distributes air conditioning, heating and refrigeration equipment and related parts and supplies in the U.S., announced today that its board of directors increased its regular quarterly cash dividend rate by 9 percent to $0.62 per share from $0.57 per share on each outstanding share of its common and class B common stock. Shares were down 4.25 percent, or $2.54, to trade at $57.27.
Diamond Offshore Drilling Inc. (NYSE: DO), which operates as an offshore oil and gas drilling contractor worldwide, said it would pay a special dividend of $0.75 per share and a regular quarterly cash dividend of $0.125. Both dividends are payable on December 1, 2011, to shareholders of record on November 1, 2011. Shares added 1.66 percent, or $0.99, to trade at $60.74.
Cousins Properties Inc. (NYSE: CUZ), a real estate investment trust that owns, develops, and manages real estate portfolio, as well as performs certain real estate-related services in the U.S., announced today that its board of directors declared a regular quarterly cash dividend on its series A cumulative redeemable preferred stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable November 15, 2011, to series A preferred stockholders of record on November 1, 2011. Shares slipped 0.17 percent, or $0.01, to trade at $5.83.
Brown & Brown Inc. (NYSE: BRO), a diversified agency that markets and sells insurance products and services in the U.S., raised its quarterly dividend 6.3 percent to 8.5 cents a share. It will cost the company an additional $2.9 million each year. Brown & Brown has now boosted its dividend 18 years in a row. Shares added 1.30 percent, or $0.26, to trade at $20.26.
Wausau Paper Corp. (NYSE: WPP), which manufactures, converts, and sells paper and paper products in the US, today announced that its board of directors declared a quarterly dividend of $0.03 per share on its common stock. The dividend is payable November 15, 2011, to shareholders of record on November 1, 2011. Shares added 0.98 percent, or $0.07, to trade at $7.24.