Dividend Scan: C, WFC, LOW, FITB, PDCO, SWY, MSW

The US market maintained its upward swing during the day's trading amid reports that Bank of America Corporation (NYSE: BAC) will reapply to the Federal Reserve to hike its dividend after June 30, 2011. Several companies declared their future dividend plans to give impetus to the market. Citigroup Inc (NYSE: C) plans to pay a quarterly dividend of one cent per share in its Q2. However, Citigroup was down 0.78 percent or $0.035 to $4.4 during the day's trading. Wells Fargo & Company (NYSE: WFC) raised its dividend to 12 cents per share from 5 cents a share. WFC was down 0.25 percent or $0.07 to $31.76 despite raising the dividend. Lowe's Companies Inc (NYSE: LOW) announced a quarterly cash dividend of $0.11 per share, payable on May 4, 2011 to shareholders of record on April 20, 2011. LOW added 0.42 percent or $0.11 to $26.31. Fifth Third Bancorp (Nasdaq: FITB) lost 0.96 percent or $0.13 to $13.90 despite declaring to raise its current quarterly dividend of one cent per share. Patterson Companies Inc (Nasdaq: PDCO) declared a quarterly cash dividend of $0.12 per share, payable on April 28, 2011 to shareholders of record on April 11, 2011. PDCO added 1.30 percent or $0.41 to $31.95. Safeway Inc (NYSE: SWY) announced a regular quarterly cash dividend of 12 cents per diluted share, payable on April 14, 2011 to shareholders of record on March 24, 2011. SWY added 1.03 percent or $0.23 to $22.66 after the news. Mission West Properties Inc (Nasdaq: MSW) declared a regular a quarterly cash dividend of 13 cents per common share, payable on April 7, 2011 to shareholders of record on March 31, 2011. MSW added 1.02 percent or $0.07 to $6.63.... Read more