Already 327 US companies announced a dividend increase in 2024
Average increase in double digits with a high yield
As of March 22, 2024, 327 American shares have already increased their dividend. In addition, we also count 25 special dividends that were announced, including 6 from companies that also increased the dividend in 2024!
Below we will share some stats (a full list will be available later this year for paid subscribers).
BIGGEST DIVIDEND HIKES IN 2024
Meritage Homes Corp (MTH) - The residential construction leader stunned investors with an astounding 177.8% dividend increase, signaling confidence in its growth trajectory and financial stability.
Friedman Industries Inc (FRD) - Following closely behind, Friedman Industries Inc announced a remarkable 100.0% increase in dividends, underlining its strong position in the market.
Copa Holdings (CPA) - With a notable 96.3% hike in dividends, Copa Holdings demonstrates its resilience and ability to navigate through challenges in the aviation industry.
Park Hotels & Resorts Inc (PK) - Park Hotels & Resorts Inc impressed investors with a substantial 66.7% increase in dividends, reflecting its commitment to rewarding shareholders amidst a recovering travel and hospitality sector.
Ituran Location and Control Ltd (ITRN) - Rounding up the top five, Ituran Location and Control Ltd announced a commendable 62.5% dividend increase, showcasing its steady growth and financial prudence.
The average dividend hike YTD is a stunning 10.7% for all 327 stocks combined. Also impressive is the average 2.7% dividend yield for these stocks.
The smallest dividend hikes have been announced by two monthly dividend payers: Realty Income and Gladstone land, both with a 0.2% increase. These two will probabably announce additional increases later in 2024.
The average dividend hike from the 20 Aristocrats raising the dividend in 2024 is only 5.8%.
Finally, we have counted 20 Dividend Aristocrats that have raised their dividend so far in 2024, including the above mentioned Realty Income. The average dividend hike for these 20 Aristocrats is dissappointing with an average hike of just 5.8%, lagging the broader market.
On the plus side, there are a total of 4 stocks, including 3 'real' Aristocrats, that have increased their dividend by double digits in 2024. We will share these four stocks tomorrow in the next Dividend Hike post on Substack!