Published Mon, 17 Feb 2020 14:29:43 -0500 on Seeking Alpha
Most of the increases in the first half of February were modest, but Florida-based utility Next Era Energy led the way with a 12% boost.
75% of my predictions were accurate, which is much better than I’ve done recently.
The second half of February brings increases from Walmart, and double-digit boosts from several companies, including McGrath Rental, TJX and Ross Stores.
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 January, I provided predictions for 12 long-term dividend growth companies that have historically announced annual payout increases in the first half of February.
In addition to the companies that I provided predictions for, there were other companies that continued long-term dividend growth streaks:
Investment company T. Rowe Price (TROW) announced its 34th year of dividend growth, boosting the annual dividend by 18.4% to $3.60. T. Rowe Price now has a forward yield of 2.62%. Insurer RenaissanceRe (RNR) boosted its payout by 3% to $1.40 and now sports a forward yield of 0.70%. This is RenaissanceRe’s 24th year of increasing dividends. There were many other companies that announced dividend increases during the first two weeks of February. Seeking Alpha author FerdiS provides a rundown in his articles.
Before I provide my predictions for the second half of February, we’ll take a look at how well I did with my predictions from the first half of the month (you can see the original article here):
(All yields are based on stock prices at the market close on Friday, February 14th.)
Results for the 14 Dividend Increase Predictions from the First Half of February
Prediction: 3.7 – 5.6% increase to $1.12 - $1.14
Actual: 3.7% increase to $1.12
Forward yield: 2.12%
The insurer hit the low end of my expectations in its 38th year of dividend growth.
Prediction: 2.6 – 5.2%... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|OLD REPUBLIC INTERNATIONAL||22.80||9.2||2.48||0.80||3.57|
|UNITED PARCEL SERVICE||122.56||22.4||5.47||3.84||3.14|
|T. ROWE PRICE GROUP||118.12||14.9||7.95||3.04||2.58|
|TELEPHONE & DATA SYSTEMS||27.28||20.7||1.32||0.66||2.45|
|ESSEX PROPERTY TRUST||324.02||52.2||6.21||7.80||2.43|
|JACK HENRY & ASSOCIATES||146.38||41.6||3.52||1.60||1.12|
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