In this article, I will go through the weekly dividend
increases and cuts in popular and well-known stocks. (Member of The Dividend
Champions or Canadian All-Star list)
Recently, 11 companies announced dividend increases. Note
that no dividend cuts or suspensions were announced during this period.
The table below summarises the dividend change
announcements. The table shows the current
dividend, the new dividend and the percentage increase (%). Dividends are shown
on an annual basis and in US dollars unless otherwise stated. Yield is the new
dividend yield of the most recent price, and Years is the years of consecutive
dividend increases.
Microchip Technology Incorporated (MCHP)
Microchip Technology Incorporated develops, manufactures,
and sells semiconductor products for various embedded control applications in
the Americas, Europe, and Asia. Microchip Technology Incorporated was
incorporated in 1989 and is headquartered in Chandler, Arizona.
On May 9, MCHP declared a quarterly dividend of $0.276 per share.
This is a 9.1%
increase from the prior dividend of $0.253.
Payable June 3 for
shareholders of record May 20, ex-div May 19.
First Merchants Corporation (FRME)
First Merchants Corporation operates as the financial
holding company for First Merchants Bank that provides community banking
services. It accepts time, savings, and demand deposits; and provides consumer,
commercial, agri-business, and real estate mortgage loans, as well as public
finance. First Merchants Corporation was founded in 1893 and is headquartered
in Muncie, Indiana.
On May 10, FRME declared a quarterly dividend of $0.32 per share.
This is a 10.3%
increase from the prior dividend of $0.29.
Payable June 17 for
shareholders of record June 3, ex-div June 3.
Cardinal Health, Inc. (CAH)
Cardinal Health, Inc. operates as an integrated healthcare
services and products company in the United States, Canada, Europe, Asia, and
internationally. It provides customized solutions for hospitals, healthcare
systems, pharmacies, ambulatory surgery centers, clinical laboratories,
physician offices, and patients in the home. Cardinal Health, Inc. was founded
in 1979 and is headquartered in Dublin, Ohio.
On May 10, CAH declared a quarterly dividend of $0.4957 per share.
This is a 1.0%
increase from the prior dividend of $0.4908.
Payable July 15 for
shareholders of record July 1, ex-div June 30.
Phillips 66 (PSX)
Phillips 66 operates as an energy manufacturing and
logistics company. It operates through four segments: Midstream, Chemicals,
Refining, and Marketing and Specialties (M&S). The company was founded in
1875 and is headquartered in Houston, Texas.
On May 11, PSX declared a quarterly dividend of $0.97 per share.
This is a 5.4%
increase from the prior dividend of $0.92.
Payable June 1 for
shareholders of record May 23, ex-div May 20.
Curtiss-Wright Corporation (CW)
Curtiss-Wright Corporation, together with its subsidiaries,
provides engineered products, solutions, and services to the aerospace,
defense, general industrial, and power generation markets worldwide.
Curtiss-Wright Corporation was founded in 1929 and is headquartered in
Davidson, North Carolina.
On May 11, CW declared a quarterly dividend of $0.19 per share.
This is a 5.6%
increase from the prior dividend of $0.18.
Payable July 1 for
shareholders of record June 17, ex-div June 16.
Sun Life Financial Inc. (TSE:SLF)
Sun Life Financial Inc., a financial services company,
provides insurance, wealth, and asset management solutions to individuals and
corporate clients worldwide. It offers term and permanent life, as well as
personal health, dental, critical illness, long-term care, and disability
insurance products. The company was founded in 1871 and is headquartered in
Toronto, Canada.
On May 11, SLF declared a quarterly dividend of C$0.69 per share.
This is a 4.5%
increase from the prior dividend of C$0.66.
Payable June 30 for
shareholders of record June 1, ex-div May 31.
Alerus Financial Corporation (ALRS)
Alerus Financial Corporation, through its subsidiary, Alerus
Financial, National Association, provides various financial services to
businesses and consumers. The company operates in four segments: Banking,
Retirement and Benefit Services, Wealth Management, and Mortgage. Alerus
Financial Corporation was founded in 1879 and is headquartered in Grand Forks,
North Dakota.
On May 11, ALRS declared a quarterly dividend of $0.18 per share.
This is a 12.5%
increase from the prior dividend of $0.16.
Payable July 8 for shareholders
of record June 17, ex-div June 16.
Canadian Tire Corporation, Limited (TSE:CTC)
Canadian Tire Corporation, Limited provides a range of
retail goods and services in Canada. It operates in three segments: Retail, CT
REIT, and Financial Services. Canadian Tire Corporation, Limited was founded in
1922 and is headquartered in Toronto, Canada.
On May 12, CTC declared a quarterly dividend of C$1.625 per share.
This is a 25.0%
increase from the prior dividend of C$1.30.
Payable September 1
for shareholders of record July 31, ex-div July 28.
Union Pacific Corporation (UNP)
Union Pacific Corporation, through its subsidiary, Union
Pacific Railroad Company, operates in the railroad business in the United
States. As of December 31, 2021, its rail network included 32,452 route miles
connecting Pacific Coast and Gulf Coast ports with the Midwest and Eastern
United States gateways. The company was founded in 1862 and is headquartered in
Omaha, Nebraska.
On May 12, UNP declared a quarterly dividend of $1.30 per share.
This is a 10.2%
increase from the prior dividend of $1.18.
Payable June 30 for
shareholders of record May 31, ex-div May 27.
Houlihan Lokey, Inc. (HLI)
Houlihan Lokey, Inc., an investment banking company,
provides merger and acquisition (M&A), capital market, financial
restructuring, and financial and valuation advisory services worldwide. It
operates in three segments: Corporate Finance, Financial Restructuring, and
Financial and Valuation Advisory. The company was founded in 1972 and is
headquartered in Los Angeles, California.
On May 12, HLI declared a quarterly dividend of $0.53 per share.
This is a 23.3%
increase from the prior dividend of $0.43.
Payable June 15 for
shareholders of record June 2, ex-div June 1.
Algonquin Power & Utilities Corp. (AQN)
Algonquin Power & Utilities Corp., through its subsidiaries,
owns and operates a portfolio of regulated and non-regulated generation,
distribution, and transmission utility assets in Canada, the United States,
Chile, and Bermuda. The company was incorporated in 1988 and is headquartered
in Oakville, Canada.
On May 12, AQN declared a quarterly dividend of $0.1808 per share.
This is a 6.0%
increase from the prior dividend of $0.1706.
Payable July 15 for
shareholders of record June 30, ex-div June 29.
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