Six dividend hikes have just been announced
NSSC, GEF, LAMR, INGR, INTU and BANF boosting the dividend
As we navigate the financial markets in 2024, six companies have stood out by rewarding their shareholders with dividend increases announced on August 27 or the end of last week. This includes one Dividend Hero. Despite varied performances in their year-to-date (YTD) returns and recent price changes, these firms have demonstrated their commitment to enhancing shareholder value. Here's a closer look at these companies and the significance of their dividend hikes.
1. NAPCO Security Technologies Inc (NSSC)
Last Price: $47.89
YTD Total Return: 36.1%
Dividend Yield: 1.1%
Years of Dividend Increases: 2
2024 Dividend Hike: 56.3%
NAPCO Security Technologies has been a standout performer with a YTD return of 36.1%, despite facing a recent dip of 15.4% over the past week. This impressive dividend hike of 56.3% (with Napco announcing two hikes YTD) reflects the company's robust growth and confidence in its future cash flows, making it an attractive pick for growth-oriented investors.
2. Greif Inc (GEF)
Last Price: $63.70
YTD Total Return: -2.0%
Dividend Yield: 3.4%
Years of Dividend Increases: 4
2024 Dividend Hike: 3.8%
Greif Inc has had a challenging year, with a slight decline in YTD returns. However, its consistent dividend growth—now in its fourth year—demonstrates stability. The modest 3.8% dividend hike suggests a cautious but steady approach to rewarding shareholders, particularly appealing to those seeking income in uncertain markets.
3. Lamar Advertising Co (LAMR)
Last Price: $123.03
YTD Total Return: 18.2%
Dividend Yield: 4.6%
Years of Dividend Increases: 4
2024 Dividend Hike: 12.0%
Lamar Advertising has delivered a solid performance with an 18.2% YTD return and continues to be a income source with a 4.6% yield. The 12.0% increase in dividends underscores Lamar's confidence in its business model and its commitment to maintaining a strong return on investment for its shareholders.
4. Ingredion Inc (INGR)
Last Price: $132.66
YTD Total Return: 23.9%
Dividend Yield: 2.4%
Years of Dividend Increases: 14
2024 Dividend Hike: 2.6%
Ingredion has consistently increased its dividends for 14 years, and this year's hike of 2.6% continues that tradition. With a YTD return of 23.9%, the company remains a solid performer. While the dividend increase is modest, it reflects a stable and growing payout, appealing to long-term investors focused on steady income.
5. BancFirst Corp (BANF)
Last Price: $105.87
YTD Total Return: 9.9%
Dividend Yield: 1.7%
Years of Dividend Increases: 31
2024 Dividend Hike: 7.0%
BancFirst Corp has a remarkable track record of 31 years of consecutive dividend increases. This year's 7.0% hike further solidifies its reputation as a reliable dividend payer. Despite a mixed recent performance, the company's long history of rewarding shareholders makes it a strong candidate for those seeking stability and income.
6. Intuit Inc (INTU)
Last Price: $618.56
YTD Total Return: 0.6%
Dividend Yield: 0.7%
Years of Dividend Increases: 13
2024 Dividend Hike: 15.6%
Intuit Inc, known for its financial software products, has announced a substantial 15.6% dividend increase, despite a modest YTD return of 0.6%. This hike reflects Intuit's strong cash flow generation and its ongoing commitment to returning capital to shareholders. Investors looking for growth coupled with rising income might find Intuit particularly attractive.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.