This week was a slow one for dividend increase announcements.
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Constellation Brands and Murphy Oil were among the small number of companies that declared dividend increases this week.
In addition, Laboratory Corp. of America Holdings (ticker: LH) initiated a quarterly dividend of 72 cents a share. Labcorp ’s portfolio includes diagnostics and drug development.
As of Thursday’s close, the stock’s year-to-date return was about minus 13%, compared with minus 5% for the S&P 500. The stock’s implied dividend yield is about 1%. The dividend is payable on June 9 to shareholders of record at the close of business on May 19.
Meanwhile, Constellation Brands (STZ) said it plans to boost its quarterly payout to 80 cents a share from 76 cents for an increase of about 5%.
The company’s brands include Modelo beer and Svedka vodka. The stock, which yields 1.3%, has returned about minus 3% this year.
Murphy Oil (MUR) said it plans to boost its quarterly dividend to 17.5 cents a share, up about 17% from 15 cents.
The exploration-and-production company’s stock yields 1.7%, and it has returned about 60% this year.
Write to Lawrence C. Strauss at [email protected]
