Estee Lauder is increasing its quarterly payout by 13%.
Gabby Jones/Bloomberg
More than a dozen S&P 500 companies declared dividend increases this week as earnings season, typically a busy time for such announcements, rolls ahead. Estee Lauder Companies , Becton, Dickinson, and Simon Property Group were on the list.
Estee Lauder (ticker: EL), whose portfolio includes fragrances and skin-care products, said it would boost its quarterly payout to 60 cents a share, up 13% from 53 cents. The stock, which was recently yielding 0.7%, has returned about 28% this year through the close on Thursday, dividends included. That is a little ahead of the S&P 500
‘s 26% return.
Medical technology company Becton, Dickinson (BDX) declared a quarterly dividend of 87 cents a share. That is an increase of about 5%, or 4 cents a share.
The stock, which has returned about minus 1% this year, yields 1.4%. This marks the 50th straight year in which the company has raised its dividend. It is a member of the S&P 500 Dividend Aristocrats Index, whose members have paid out a higher dividend for at least 25 straight years.
Simon Property Group (SPG), a real estate investment trust focused on shopping malls and outlets, is planning to raise its dividend for the third time this year. Its board this week declared a quarterly disbursement of $1.65 a share, an increase of 10% from $1.50.
In June, the company said it would boost its quarterly dividend to $1.40 a share from $1.30. In August, management declared a quarterly dividend of $1.50.
The stock, which yields 3.9%, has returned about 100% this year, reflecting increasingly positive investor sentiment toward shopping malls and the economy’s reopening following the pandemic.
Emerson Electric (EMR) said it plans to raise its dividend by a penny, or 2%, to 51.5 cents a share. The stock, which has returned about 23% this year, yields 2.1%. The company is also a member of the S&P 500 Dividend Aristocrats Index.
Devon Energy (DVN) declared a quarterly dividend of 84 cents a share, up sharply from 49 cents a share previously. The increase reflects higher oil prices and improved conditions in the energy business.
The company’s board also authorized a $1 billion share- repurchase program through the end of 2022—a total equal to about 4% of the company’s market capitalization. Devon Energy has a fixed dividend with variable additional payouts that hinge on business conditions.
In the previous quarter, the fixed dividend was 11 cents a share, while the variable one was 38 cents, for a total of 49 cents. The stock, which has returned about 180% this year, yields 2.9%.
Pharmaceutical drug distributor AmerisourceBergen (ABC) plans to increase its quarterly dividend by 2 cents a share, to 46 cents, an increase of 4.5%.
The stock, which yields 1.4%, has returned about 31% year to date.
In other news, apparel company PVH (PVH) said that its board’s executive committee on Oct. 29 declared a regular quarterly cash dividend of 3.75 cents a share on the common stock.
The dividend was suspended last year due to the pandemic. The stock has returned about 27% this year.
The company’s brands include Calvin Klein and Tommy Hilfiger.
Write to Lawrence C. Strauss at [email protected]
