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This Is One Slick Dividend Stock

 December 17, 2012 11:05 PM


After 39 unsuccessful attempts, the formula was perfected in 1953 by Norm Larsen, founder of the Rocket Chemical Company, in San Diego, California. Larsen was attempting to create a formula to prevent corrosion in nuclear missiles, by displacing the standing water that causes it. Primarily composed of various hydrocarbons, the exact formula is a trade secret and was never patented, to avoid completely disclosing its ingredients.

Rocket Chemical Company was founded in 1953. The company went public in 1973. In recent years the it has acquired several household-products companies, adding such brand names as 3-In-One Oil, Lava, Spot Shot, X-14, Carpet Fresh, and 2000 Flushes to its roster. The company still has its corporate offices in San Diego, California. It now markets its products in more than 160 countries.

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In 1969, John S. Barry, on becoming President and CEO, changed the name after what was then its only product.  The company and product are still known as...

WD-40 Company (WDFC)

The company engages in the provision of multi-purpose maintenance products under the WD-40 brand. December 11th the company increased its quarterly dividend 7% to to $0.31 per share. The dividend is payable January 31, 2013 to stockholders of record on January 7, 2013. The yield based on the new payout is 2.6%.

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

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Urstadt Biddle Properties, Inc. (UBA), a real estate investment trust (REIT), engages in the acquisition, ownership, and management of commercial real estate properties in the United States. December 13th the company increased its quarterly dividend 4.2% to $0.25 per share. The dividend is payable January 31, 2013 to stockholders of record on January 18, 2013. The yield based on the new payout is 5.4%.

Evans Bancorp, Inc. (EVBN) operates as a bank holding company for the Evans Bank, N.A., which provides various banking services to consumer and commercial customers in western New York. December 12th the company increased its semi-annual dividend 9% to $0.22 per share. The dividend is payable December 31, 2012 to shareholders of record as of December 21, 2012. The yield based on the new payout is 2.9%.

CapLease, Inc. (LSE) operates as a real estate investment trust (REIT), focused on financing and investing in commercial real estate that is net leased primarily to single tenants with investment grade or near investment grade credit ratings. December 12th the comp(any increased its quarterly dividend 7% to to $0.075 per share. The dividend is payable January 15, 2013 to stockholders of record as of December 31, 2012. The yield based on the new payout is 5.9%.

One Liberty Properties, Inc. (OLP), a real estate investment trust (REIT), engages in the acquisition, ownership, and management of commercial real estate properties in the United States. December 11th the company increased its quarterly dividend 6.1% to $0.35 per share. The dividend is payable January 4, 2013 to stockholders of record on December 27, 2012. The yield based on the new payout is 7.1%.

Waste Management, Inc. (WM) provides waste management services to residential, commercial, industrial, and municipal customers in North America. December 11th the company increased its quarterly dividend 2.8% to $0.365 per share. This marks the tenth consecutive year that the Company has increased its planned quarterly dividend. The first increased dividend will be paid in March of 2013. The yield based on the new payout is 4.3%.

U-Store-It Trust (CUBE) operates as a real estate investment trust (REIT) that engages in the ownership, operation, acquisition, and development of self-storage facilities. December 10th the company increased its quarterly dividend 37.5% to $0.11 per share. The dividend is payable on January 15, 2013 to common shareholders of record on January 1, 2013. The yield based on the new payout is 3.1%.

Prospect Capital Corporation (PSEC) is a business development company (private equity firm). December 7th the company increased its monthly dividend 8.2% to 11.0000 cents per share for December 2012 (record date of December 31, 2012 and payment date of January 23, 2013); and 11.0025 cents per share for January 2013 (record date of January 31, 2013 and payment date of February 20, 2013). The yield based on the new payout is 12.3%.

Universal Health Realty Income Trust (UHT) operates as a real estate investment trust (REIT) investing in health care and human service related facilities. December 7th the company increased its quarterly dividend 0.8% to $0.62 per share. The dividend is payable December 31, 2012 to shareholders of record as of December 17, 2012. The yield based on the new payout is 5.0%.

The Hanover Insurance Group, Inc. (THG) underwrites commercial and personal property, and casualty insurance coverage in the United States. December 7th the company increased its quarterly dividend 10% to $0.33 per share. The dividend is payable December 28, 2012, to shareholders of record at the close of business on December 17, 2012. The yield based on the new payout is 3.5%.

Associated Estates Realty Corporation (AES) is an independent real estate investment trust. The firm invests in the real estate markets of the United States. December 6th the company increased its quarterly dividend 5.6% to $0.19 per share. The dividend is payable February 1, 2013 to shareholders of record on January 15, 2013. The yield based on the new payout is 4.9%.

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: Long UHT in my Dividend Growth Portfolio. See a list of all my dividend growth holdings here.

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