IBM plans to raise its dividend.
Migel Medina/AFP via Getty Images
Apple , International Business Machines, and Discover Financial Services were among the large U.S. companies that announced dividend increases this week. It was a busy stretch for these announcements as first-quarter earnings season continues.
Tech giant Apple (ticker:AAPL) declared a quarterly dividend of 23 cents a share, up by a penny, or 4.5%. The stock, which yields 0.5%, has returned about minus 8% this year through April 28, dividends included, compared with nearly minus 10% for the S&P 500.
International Business Machines ( IBM
) said it will raise its quarterly disbursement to $1.65 cents a share from $1.64. The company is a member of the S&P 500 Dividend Aristocrats Index, whose constituents have paid out a higher dividend for at least 25 straight years.
The stock, which has returned about 3% this year, yields 4.9%.
Discover Financial Services (DFS) declared a quarterly dividend of 60 cents a share, up 20% from 50 cents. The stock, which yields 2.1%, has returned about 1% year to date.
Insurance company MetLife (MET) said it will hike its quarterly payout to 50 cents a share from 48 cents, an increase of about 4%. The stock, which has returned about 9% this year, yields 3%.
Raytheon Technologies (RTX) declared a quarterly disbursement of 55 cents a share, up 4 cents, or about 8%, from 51 cents. The aerospace and defense company’s stock, which has returned around 15% in 2022, yields 2.2%.
Money manager Invesco ( IVZ
) said it will up its quarterly payout to 18.75 cents a share from 17 cents. That’s an increase of about 10%. The stock, which yields 3.9%, has returned about minus 16% this year.
Sysco (SYY) said it will raise its quarterly dividend to 49 cents a share, up 2 cents or about 4%. The food service’s company stock, which has returned about 14% year to date, yields 2.2%.
In one of the largest increases announced this week, Parker-Hannifin (PH) plans to raise its quarterly dividend to $1.33 a share from $1.03. That’s a 29% increase. The company makes industrial components. The stock, which yields 1.9%, has returned around minus 13% this year.
W.W. Grainger (GWW) said it will boost its quarterly payout to $1.72 cents a share from $1.62 cents. That’s an increase of 6%. The company is a distributor of maintenance, repair and other products and services. The stock yields 1.3%, and its return is flattish this year.
The company has increased its dividend for 51 straight years.
American Water Works
( AWK
) said it will raise its quarterly dividend to 65.5 cents a share, up about 9% from 60.25 cents. The water and waste water utility company’s stock, which yields 1.6%, has returned about minus 15% this year.
Kimco Realty (KIM) said it plans to raise its quarterly dividend to 20 cents a share from 19 cents for an increase of 5%. The company operates as a real-estate investment trust. It owns and operates open-air, grocery-anchored shopping centers.
The stock, which yields 3.1%, has returned about 8% this year.
Continental Resources (CLR), an energy company, declared a quarterly dividend of 28 cents a share, an increase of about 22% from 23 cents. Continental is involved with the exploration, development and production of oil, natural gas and other products.
The stock, which has returned about 30% this year, yields 1.5%.
Avery Dennison (AVY) is planning to raise its quarterly disbursement to 75 cents a share from 68 cents for an increase of about 10%. The company’s products include materials for labels.
The stock, which yields 1.5%, has returned about minus 15% year to date.
Paychex (PAYX) announced a 20% increase to its quarterly dividend to 79 cents a share from 66 cents. The stock has returned about minus 2% this year, and it yields 2%.
Marathon Oil (MRO) said it plans to boost its base quarterly dividend by about 15% to 8 cents a share from its last base dividend of 7 cents. The exploration-and-production company’s stock, which yields 0.9%, has returned about 55% this year.
Ameriprise Financial (AMP) is raising its quarterly disbursement by 11%, or 12 cents a share, to $1.25. The company offers various financial advisory services. The stock, which yields 1.8%, has returned about minus 9% this year.
Write to Lawrence C. Strauss at [email protected]
