10 Upcoming Dividend Increases

seekingalpha06-07

This article features ten companies with a history of raising their dividends, including two well-known insurance companies.The average dividend increase among the featured companies is 7.7%, with a ...

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PM Images Welcome back for another edition of upcoming dividend increases. This week features ten more companies with a history of raising their dividends. We have no anchor of a dividend king this week, but we do feature two well-known insurance companies, one of which Berkshire Hathaway (BRK.A) (BRK.B) has been building a position in recently. The overall group of companies has an average increase of 7.7% and a median of 7.6%, nearly perfectly balanced. My investment strategy involves buying and adding companies that consistently increase their dividends and can beat an equivalent benchmark. The information in this article is generated for my investing needs, and I'm happy to share my findings with my Seeking Alpha audience. This list can help you make smart investment choices and create a successful long-term portfolio. How I Created The Lists The following information is a result of merging two sources of data: the \"U.S. Dividend Champions\" spreadsheet from a particular website and upcoming dividend data from NASDAQ. This process combines data on companies with a consistent dividend growth history with future dividend payments. It's important to understand that all companies included in this list have consistently grown their dividends for at least five years. Companies must have higher total yearly dividends to be included in this list. Therefore, a company may not increase its dividend every calendar year, but the total annual dividend can still grow. What Is The Ex-Dividend Date? The ex-dividend date is when you must own shares to qualify for an upcoming dividend or distribution. To be eligible, you must have bought the shares by the end of the preceding business day. For instance, if the ex-dividend date is Tuesday, you must have acquired the shares by the market close on Monday. If the ex-dividend date falls on a Monday (or a Tuesday following a holiday on Monday), you must have purchased the shares by the previous Friday. Dividend Streak Categories Here are the definitions of the streak categories, as I'll use them throughout the piece.  King: 50+ years. Champion/Aristocrat: 25+ years. Contender: 10-24 years. Challenger: 5+ years.        Category Count   King 0   Champion 2   Contender 6   Challenger 2   Click to enlarge The Dividend Increases List Data was sorted by the ex-dividend date (ascending) and then by the streak (descending):       Name Ticker Streak Forward Yield Ex-Div Date Increase Percent Streak Category   The Travelers Companies, Inc. (TRV) 22 2.02 10-Jun-24 5.00% Contender   CNO Financial Group, Inc. (CNO) 12 2.27 10-Jun-24 6.67% Contender   Victory Capital Holdings, Inc. (VCTR) 5 2.9 10-Jun-24 10.45% Challenger   Chubb Limited (CB) 31 1.38 14-Jun-24 5.81% Champion   Alerus Financial Corporation (ALRS) 25 4.15 14-Jun-24 5.26% Champion   Chesapeake Utilities Corporation (CPK) 21 2.32 14-Jun-24 8.47% Contender   Hawthorn Bancshares, Inc. (HWBK) 13 3.81 14-Jun-24 11.76% Contender   Nasdaq, Inc. (NDAQ) 12 1.61 14-Jun-24 9.09% Contender   Enterprise Financial Services Corporation (EFSC) 10 2.71 14-Jun-24 4.00% Contender   Hamilton Lane Incorporated - Class A Common Stock (HLNE) 7 1.59 14-Jun-24 10.11% Challenger   Click to enlarge Field Definitions Streak: Years of dividend growth history are sourced from the U.S. Dividend Champions spreadsheet. Forward Yield: The payout rate is calculated by dividing the new payout rate by the current share price. Ex-Dividend Date: This is the date you need to own the stock. Increase Percent: The percent increase. Streak Category: This is the company's overall dividend history classification. Show Me The Money Here is a table that shows the new and old rates and the percentage increase. The table is sorted by ex-dividend day in ascending order and dividend streak in descending order.    Ticker Old Rate New Rate Increase Percent   TRV 1 1.05 5.00%   CNO 0.15 0.16 6.67%   VCTR 0.335 0.37 10.45%   CB 0.86 0.91 5.81%   ALRS 0.19 0.2 5.26%   CPK 0.59 0.64 8.47%   HWBK 0.17 0.19 11.76%   NDAQ 0.22 0.24 9.09%   EFSC 0.25 0.26 4.00%   HLNE 0.445 0.49 10.11%   Click to enlarge Additional Metrics Some different metrics related to these companies include yearly pricing action and the P/E ratio. The table is sorted the same way as the table above.    Ticker Current Price 52 Week Low 52 Week High PE Ratio % Off Low % Off High   TRV 208.41 155.76 232.75 15.33 34% Off Low 10% Off High   CNO 28.2 21.67 29.09 7.21 30% Off Low 3% Off High   VCTR 50.95 27.87 54.94 7.55 83% Off Low 7% Off High   CB 264.16 181.66 275.41 30.3 45% Off Low 4% Off High   ALRS 19.27 16.19 25.41 10.42 19% Off Low 24% Off High   CPK 110.31 82.86 130.12 25.66 33% Off Low 15% Off High   HWBK 19.95 14.52 25.55 10.36 37% Off Low 22% Off High   NDAQ 59.72 46.17 64.25 23.56 29% Off Low 7% Off High   EFSC 38.35 32.18 45.58 12.56 19% Off Low 16% Off High   HLNE 123.39 71.27 130.97 39.11 73% Off Low 6% Off High   Click to enlarge Tickers By Yield And Growth Rates I've arranged the table in descending order, so investors can prioritize the current yield. As a bonus, the table also features some historical dividend growth rates. Moreover, I have incorporated the \"Chowder Rule,\" which is the sum of the current yield and the five-year dividend growth rate.    Ticker Yield 1 Yr DG 3 Yr DG 5 Yr DG 10 Yr DG Chowder Rule   ALRS 4.15 5.6 8.2 7.1 8.2 11.3   HWBK 3.81 4 15.2 15.6 17.4 19.5   VCTR 2.9 21 68.7         EFSC 2.71 6.4 11.6 14.9 16.9 17.7   CPK 2.32 10.3 10.3 9.8 8.7 12.1   CNO 2.27 7.2 7.7 8.5 14.9 10.8   TRV 2.02 7.5 5.6 5.4 7.2 7.4   NDAQ 1.61 10 10.4 8.5 17.6 10.1   HLNE 1.59 11.3 12.5 15.9   17.5   CB 1.38 3.6 3.3 3.3 4.2 4.7   Click to enlarge Historical Returns As mentioned above, my investment approach involves identifying stocks that consistently outperform the market while increasing their dividend payouts. I use the Schwab U.S. Dividend Equity ETF (SCHD) as a benchmark to gauge performance. I use the \"Cohen & Steers REIT & Preferred Income Fund\" (RNP) for REITs. SCHD has a strong track record of exceptional performance, offers a higher yield than the S&P 500, and has consistently grown dividends. If a stock cannot outperform its benchmark, I prefer to invest in the ETF. I have selected several companies for my investment portfolio using this analysis. Additionally, I rely on this analysis to make well-timed additional purchases for my portfolio. The ten-year dividend growth rate is one of the four main factors in the index behind SCHD. It's also a proxy for success, although it's not a perfect predictor. Share prices tend to follow strong dividend growth over long periods. Here's a comparison of SCHD versus those with a ten-year dividend growth rate. Data by YCharts Over the past decade, SCHD returned about 181% (dividends are reinvested in all these results). Week after week, SCHD tends to score near the top of the result set. Three companies did offer outperformance: NDAQ (462%), CB (211%), and CPK (194%). After that, everyone else lagged SCHD. Berkshire Hathaway recently disclosed they've been building a position in Chubb. Of course, the Oracle's position building becomes a self-fulfilling prophecy for short-term stock movements as other investors pile in. Next Steps After reviewing each company's stats and total return performance, I'm only interested in looking at NDAQ. Based on my investing criteria, I'm looking for companies with a history of outperforming SCHD (or RNP for REITs). I've been disappointed in the past by picking lesser companies, commonly coupling that with reaching for unsafe yield levels. NASDAQ is interesting because its performance is easily seen near the top echelon of the above graph for the whole time frame. I hesitate when a company may beat SCHD overall but may have lagged considerably for years. What gives me some caution is the rocket ride that the stock took during COVID. It saw rapid PE expansion, then a strong whipsaw back down during the 2022 deflation experienced by many growth stocks. Their acquisition of Adenza is also a large bite; it was about 30% of their market cap at the time! I plan to look closer this week, compare it with my current holdings, and see if it deserves a portion of my dividend growth stocks. Let me know what you think of my strategy, and feel free to add yours in the comments below!  As always, please do your due diligence before making any investment decision.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2441722595"}