Summer Doldrums Bring Mostly Mid-Single-Digit Dividend Increases

My regular followers know that I track the dividend increases of a variety of long-term dividend growth companies. Back at the end of May, I provided predictions for 11 dividend growth companies that have historically announced annual payout increases in June. As it turns out, one of those companies announced its annual increase at the end of May and I missed two other companies that also announced its annual dividend increases: aerospace and defense company United Technologies Corporation (UTX) announced a 6% increase in its dividend to an annualized $2.80. The company has a forward yield of 2.29%. Also, monthly dividend payer and REIT Realty Income Corporation (O) announced its 2nd dividend increase this year - one 0.2% increase to an annualized $2.538. Realty Income now has a forward yield 4.60%.
Before I give you my predictions for the dividend increases for July, let’s take a look at how well I did with the predictions from June (you can see the article with the original predictions here):
C. R. Bard (BCR)
Prediction: 8.0 - 9.6% increase to $1.12 - $1.14
Actual: 0% increase to $1.04
Forward yield: 0.33%
It looks like Bard decided to hold its dividend steady due to the upcoming acquisition of the company by Becton, Dickinson and Company (BDX).
Casey’s General Stores (CASY)
Prediction: 6.3 - 8.3% increase to $1.02 - $1.04
Actual: 8.3% increase to $1.04
Forward yield: 0.97%
As expected, the convenience store... Read more