Winnebago Industries said that it plans to boost its quarterly dividend by 50%.
Courtesy of Winnebago
It was a very light week for dividend announcements, which tend to slow down in August before picking up in the fourth quarter.
Still, a few companies did declare increases, including Cboe Global Markets (ticker: CBOE) and Tapestry (TPR), whose brands include Coach and Kate Spade New York.
Cboe Global Markets declared a quarterly dividend of 50 cents a share, up 2 cents from 48 cents. That is an increase of about 4%. The stock, which has returned about minus 2% this year, yields 1.6%.
Tapestry declared a quarterly dividend of 30 cents a share, an increase of 20% from 25 cents. The stock, which has returned around minus 6% this year, yields 3.2%.
Another company that announced a dividend increase was Winnebago Industries (WGO), which is known for its motor homes, among other outdoor products.
Winnebago Industries, whose market capitalization is about $2.2 billion, said that it plans to boost its quarterly dividend by 50% to 27 cents a share from 18. The stock, which yields 1.6%, has returned about minus 8% this year through Thursday, dividends included, compared with minus 9% for the S&P 500.
In other news, General Motors (GM) reinstated its quarterly dividend.
The auto maker suspended it early in the pandemic in 2020. But the company said this week it plans to pay a quarterly disbursement of 9 cents a share. Before the pandemic, GM had been paying a quarterly dividend of 38 cents a share.
Ford Motor (F), which also suspended its quarterly dividend in 2020, reinstated it last fall at 10 cents a share and has subsequently boosted it to 15 cents—the same level it was at prior to the suspension.
Write to Lawrence C. Strauss at [email protected]
