Published Mon, 30 Sep 2019 22:19:44 -0400 on Seeking Alpha
Those of you who follow this series of articles know that I track the dividend increases of a variety of long-term dividend growth companies. Back at the end of August, I provided predictions for 6 dividend growth companies that have historically announced annual payout increases in September.
Two notes before I get into my results from last month and my predictions for next month. First, OGE Energy (OGE) announced its 14th year of dividend growth, raising its annual payout by 6.2% to $1.44. The Oklahoma-based utility has a forward yield of 3.41%.
Second, I would normally provide a prediction for V. F. Corporation (VFC), but the clothing company spun off Kontoor Brands (KTB) in June, distributing 1 share of Kontoor for every 7 shares of V. F. Corp. Between the two companies, the dividend didn’t change but the dividend policies of V. F. Corp and Kontoor going forward aren’t clear. We should find out by the end of October if V. F. Corporation will continue to raise dividends annually.
And now, the results from last month:
(All yields are based on stock prices at the market close on Friday, September 27th.)
Results for the 6 Dividend Increase Predictions from September
Brady Corporation (BRC)
Prediction: 2.4 – 4.7% increase to $0.87 - $0.89
Actual: 2.4% increase to $0.87
Forward yield: 1.64%
Brady’s 33rd year of dividend growth was consistent with the company’s history and right in line with the 10-year average growth rate of 3%.
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|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|NORTHWEST NATURAL GAS||72.03||30.5||2.36||1.90||2.72|
|NEW JERSEY RESOURCES||45.08||29.7||1.52||1.25||2.67|
|BROWN & BROWN||35.96||26.2||1.37||0.32||0.92|
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