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This Company Delivers Dividend Increases, Not Bad Emails

 November 23, 2012 11:27 AM
 


George was born in Buffalo, New York in 1860. He worked in a Chicago slaughterhouse before becoming a traveling wool and hide buyer. His travels took him to Austin, Minnesota where he decided to settle. He borrowed $500 to open a business. In the early days, to make ends meet George continued to trade in hides, eggs, wool, and poultry. Joining George in November 1891 was his 14 year old youngest brother, Benjamin. By the end of 1891 his company employed six men.

In 1893, two additional brothers, Herman and John, joined the business. The remaining members of the family moved to Austin in 1895 and joined the growing business. George turned to full-time management in 1899 and turned his focus on increasing production. In 1901, the plant was expanded and the business was incorporated.

[Related -Hormel Foods Corp. (HRL) Dividend Stock Analysis]

Today, George's little company has over 19,000 employees and annual sales of over $7.8 billion. The company has a presence in the international marketplace through joint ventures and placement of personnel in strategic foreign locations such as Australia, Canada, China, Japan and the Philippines. In addition it has a minority positions in companies in Mexico and the Philippines. What company is this? It is...

Hormel Foods Corporation (HRL)

The company engages in the production and marketing of various meat and food products. Its meat products include fresh, frozen, cured, smoked, cooked, and canned meat, including SPAM. November 20th the company increased its quarterly dividend 13.3% to $0.17 per share. The dividend is payable Feb. 15, 2013, to stockholders of record at the close of business on Jan. 21, 2013. The yield based on the new payout is 2.3%.

[Related -Stocks Gain Ahead Of Fed Decision; FLIR Systems, Inc. (FLIR) Jumps]

Below are several other companies that have recently increased their cash dividends to shareholders:

Becton, Dickinson and Company (BDX), a medical technology company, develops, manufactures, and sells medical devices, instrument systems, and reagents worldwide. November 20th the company increased its quarterly dividend 10% to $0.495 per share. The dividend is payable December 31, 2012 to holders of record on December 10, 2012. The yield based on the new payout is 2.6%.

SBT Bancorp, Inc. (SBTB) operates as the holding company for The Simsbury Bank & Trust Company, Inc. that provides various banking and investment services to individual consumers and small businesses in Connecticut. November 20th thecompay increased its quarterly dividend 17% to $0.14 per share. The dividend is payable on December 17, 2012 to shareholders of record on December 3, 2012. The yield based on the new payout is 2.6%.

International Game Technology (IGT) engages in the design, development, manufacture, and marketing of electronic gaming equipment and systems worldwide. November 20th the company increased its quarterly dividend 17% to $0.07 per share. The dividend is payable Dec. 31, 2012 to shareholders of record on Dec. 19, 2012. The yield based on the new payout is 2.1%.

Erie Indemnity Company (ERIE) operates as a managing attorney for the Erie Insurance Exchange in the United States. November 19th the company increased its quarterly dividend 7.2% to $0.5925 per share. The dividend is payable December 21, 2012, to shareholders of record as of the close of business on December 7, 2012, with a dividend ex-date of December 5, 2012. The yield based on the new payout is 3.6%.

South Jersey Industries, Inc. (SJI) engages in the purchase, transmission, and sale of natural gas for residential, commercial, and industrial customers. November 19th the company increased its quarterly dividend 10% to $0.4425 per share. The dividend is payable December 28, 2012 to shareholders of record at the close of business December 10, 2012. This marks the 14th year in a row that SJI has increased its dividend. The yield based on the new payout is 3.7%.

Montpelier Re Holdings Ltd. (MRH) provides insurance and reinsurance solutions worldwide. November 19th the company increased its quarterly dividend 9.5% to $0.115 per share. The dividends are payable on or before January 15, 2013, to shareholders of record as of December 31, 2012. The yield based on the new payout is 2.2%.

Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Full Disclosure: No position in the aforementioned securities. See a list of all my dividend growth holdings here.

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