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Dividend Aristocrats AFL and ECL announce big dividend hikes
20 dividend hikes and three special dividends in week 49 of 2024
In another busy week we counted at least 20 dividend increases and 3 special dividend announcements in the United States, including several Dividend Aristocrats with bigger than expected dividend hikes such as Ecolab, Aflac and ABM Industries.
We even had two stocks with a triple digit dividend hike: PG&E (PCG) and Vornado (VNO). These stocks however have bad dividend track records with no growth or declining dividends in the last decade.
Other interesting names doing a dividend hike last week include Walt Disney (DIS), with its second increase in 2024 to a $0.50 per share semi-annual payment. Also Deere & Co impressed with a 10.2% dividend hike, that was completely as expected.
Other interesting names hiking their dividend are Eastman Chemical (15th consecutive year) and Campbell’s (first hike in the last 4 years).
Special dividends
Three stocks announced a special dividend, led by CME Group doing its annual special dividend announcement with a $5.80 per share bonus payment. Dividend growth has slowed to less than 5% for CME however in 2024.
Other stocks doing special dividend payments are insurance companies that we will highlight this week on dividendtrackrecords.com. Check the special dividends section for all recent special dividend announcements.
Dividend Aristocrats
We had 4 stocks with at least 25 straight years of dividend growth doing their annual dividend hike last week with Ecolab, ABM Industries, Franklin Resources and Aflac. Of these 4 only ABM Industries is not a Dividend Aristocrat.
ABM forked out the most impressive dividend hike with a 17.8% increase in 2024, much higher than the average dividend increase in the last couple of years.
We also loved the big dividend hikes by Ecolab and Aflac. Insurer Aflac is one of the last Dividend Heroes in 2024 to raise its dividend. The 16% dividend hike is just the kind of increase that you expect from a Dividend Hero.
Another Dividend Hero, Broadcom, will most likely announce its second dividend hike for 2024 later this week. We did a poll on X asking you to guess the next dividend hike. We think that Broadcom will boost its dividend to $0.60 quarterly per share.
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.
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So Broadcom did a 11% hike to 59 cents quarterly. The stock is up 100% in 2024 now!