Last week was marked by wild sell-offs and big rallies in the equity markets. There was even wilder action in the commodities markets, as oil, gold and particularly silver, suffered big bouts of selling. Yet amid all of the volatile action last week, we continued to see numerous big-name companies reporting stellar earnings. We also saw many bellwether firms increasing their dividend payouts.
PepsiCo (NYSE: PEP): Among the highest-profile companies pouring out higher payouts was the beverage giant. The company’s board of directors authorized a 7% increase in its annual dividend to $2.06 per share compared to the prior payout of $1.92. The next quarterly dividend payout of 51.5 cents per share will reflect the new payment to shareholders. That payment will be made on June 30, to shareholders of record on June 3. The increase comes one week after Pepsi reported stronger-than-expected first-quarter profits of $1.14 billion.
Harley-Davidson (NYSE: HOG): Another iconic company boosting the horsepower on its dividend was the motorcycle maker. The company said it approved an increase in its second-quarter cash dividend to 12.5 cents per share, up from the current 10-cent payout. The new dividend will be paid on June 17, to shareholders of record on June 2. In April, Harley-Davidson reported that profits more than tripled in the first quarter, a much smoother Q1 ride than Wall Street was anticipating.
CBS Corporation (NYSE: CBS): The television and entertainment giant was yet another iconic company upping its payout last week. The broadcaster’s first-quarter earnings easily bested expectations, as CBS earned 29 cents per share on $3.51 billion in revenue, compared with a loss of 4 cents per share on $3.53 billion in the year-ago quarter. The company responded by doubling its quarterly dividend to 10 cents per share from 5 cents. The move restores part of what shareholders lost when the company cut its dividend two years ago from 27 cents per share. The new payout will be made on July 1, to shareholders of record as of June 10.
Cardinal Health (NYSE: CAH): The health care services firm provides tools that help increase efficiency and reduce costs in the industry. Profits from these cost-cutting services allowed Cardinal to boost its dividend by a healthy 10% to 21.5 cents per share. The dividend is payable on July 15, to shareholders of record on July 1.
Chesapeake Utilities Corp. (NYSE: CPK): The diversified utility company turned up the power on its quarterly dividend, raising its payout by 4.6% to 34.5 cents per share. The new dividend is payable July 5, to shareholders of record as of June 15.
CSX Corp. (NYSE: CSX): The rail transportation services firm announced a 3-for-1 stock split and a $2 billion stock buyback program that will begin immediately. Nearly lost amid the big news was the company’s 38% dividend bump. The new dividend of 36 cents per share, or 12 cents per share on a post-split basis, will be payable on June 15, to shareholders of record on May 31.
DTE Energy (NYSE: DTE): Electric and natural gas utility companies are traditionally solid dividend performers, and DTE Energy is no exception. The company powered up a 5% increases in its quarterly payout to 58.75 cents per share. The new dividend is payable July 15, to shareholders of record on June 20.
Expeditors International of Washington Inc. (NASDAQ: EXPD): The Seattle-based logistics firm plotted a path to higher payouts, declaring a semi-annual cash dividend of 25 cents per share, a 25% increase from the 20 cents per share semi-annual dividend declared in 2010. The new payout will take place on June 15, to shareholders of record as of June 1.
Herbalife Ltd. (NYSE: HLF): The diet and nutritional supplement company announced a 2-for-1 stock split along with very robust first-quarter earnings. Herbalife also declared a new post-split payout of 20 cents per share, or a 60% increase in its quarterly dividend. The new payment will be made on June 7, to shareholders of record on May 24.
Legg Mason (NYSE: LM): The mutual fund firm reported an 8% increase in net income during its fiscal fourth quarter along with improved operating margins. The company’s assets under management also increased to $677.6 billion from $671.8 billion in the previous quarter. Legg Mason opted to make its reward to shareholders a mutual proposition, increasing its payout to 8 cents a share from 6 cents.
Manpower Inc. (NYSE: MAN): The global employment services firm gave its shareholders a raise, increasing its semi-annual dividend to 40 cents per share. The dividend is payable on June 15, to shareholders of record on June 1.
Suncor Energy (NYSE: SU): The Canadian oil sands firm dug up a nice increase in its quarterly dividend, upping its payout to 11 cents per share from the previous 10 cents. The energy company’s new dividend is payable June 24 to shareholders of record on June 3.
Telus Corp. (NYSE: TU). The Canadian telecom giant rang up a new payout of 55 cents per share (Canadian). The new dividend represents a 2.5-cent-per-share invrease, or 4.8%, from the current 52.5 cent quarterly dividend. The new dividend will be paid on July 4. to shareholders of record on June 10.
Torchmark Corp. (NYSE: TMK): The life insurance issuer declared a 3-for-2 stock split paid in the form of a 50% stock dividend on all outstanding common stock. The record date for the split will be the close of business on June 1. Along with the split, Torchmark declared a post-split quarterly dividend increase to 11 cents. The new payout will be made on Aug. 1, to shareholders of record as of June 1.�
Union Pacific (NYSE: UNP). The railway giant delivered a new, boxcar load of dividends to shareholders, increasing its payout 25% to 47.5 cents per share. The new dividend will be paid on July 1, to shareholders of record on May 31.
At the time of publication, Jim Woods held no positions in any of the stocks mentioned in this article.
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