Week 48 Dividend Recap: 5 small hikes
HP Inc did the biggest dividend increase with +5%
Last week saw notable dividend hikes, with HP Inc leading the way with a 5% increase. Here's a breakdown of the key dividend changes and a closer look at the businesses behind the numbers.
Biggest Dividend Hikes Last Week: An Overview of Companies Increasing Shareholder Returns
Last week saw notable dividend hikes, with HP Inc leading the way with a 5% increase. Park Hotels and Resorts (PK) announced a special dividend. Here's a breakdown of the key dividend changes and a closer look at the businesses behind the numbers.
HP Inc (HPQ)
Dividend Increase: 5.0%
5-Year Dividend CAGR: 10.4%
10-Year Dividend CAGR: 14.8%
Market Cap: $34.1 billion
Sector: Printers & PCs
HP Inc is a major player in the technology sector, known for its wide array of PCs, laptops, and printing solutions. Despite a 7.1% decline in stock price over the past week, the company has rewarded its shareholders with a strong dividend hike, underscoring its commitment to returning capital to investors. HPQ’s track record reflects significant growth in dividends, with double-digit increases over the last decade. HP Inc has now raised its dividend 14 consecutive years.
York Water Company (YORW)
Dividend Increase: 4.0%
5-Year Dividend CAGR: 4.0%
10-Year Dividend CAGR: 3.9%
Market Cap: $0.5 billion
Sector: Water Utility
Founded in 1816, York Water Company provides water and wastewater management services, making it one of the oldest utility companies in the United States. The 4.0% dividend increase aligns with its steady, modest growth in payouts over time, supported by its regulated business model. YORW’s conservative increases reflect its long-standing strategy to maintain stable returns for shareholders. York Water has raised its dividend 28 consecutive years. This is the 616th consecutive dividend to be paid by The York Water Company.
Hormel Foods (HRL)
Dividend Increase: 2.7%
5-Year Dividend CAGR: 4.5%
10-Year Dividend CAGR: 8.8%
Market Cap: $17.8 billion
Sector: Meat & Food Products
Hormel Foods, best known for brands like SPAM and Skippy, has a diverse portfolio of food products. The company’s 2.7% dividend hike is consistent with its historical performance, as it continues to navigate the challenges of a highly competitive consumer goods sector. With a 3.6% dividend yield, Hormel combines moderate growth with a strong payout. Dividend Aristocrat Hormel has raised the dividend for 59 consecutive years.
Universal Health Realty Income Trust (UHT)
Dividend Increase: 1.4%
5-Year Dividend CAGR: 1.4%
10-Year Dividend CAGR: 1.5%
Market Cap: $0.6 billion
Sector: Health Care REIT
Universal Health Realty Income Trust operates as a real estate investment trust (REIT), specializing in healthcare facilities such as hospitals and clinics. Although the 1.4% dividend hike is relatively modest, the company boasts a 7.0% dividend yield, which can be attractive for income-focused investors. Its slower dividend growth rate reflects the REIT’s focus on maintaining stable payouts. 2024 marks the 37th consecutive year of increases for UHT.
Global Water Resources Inc (GWRS)
Dividend Increase: 0.8%
5-Year Dividend CAGR: 1.0%
10-Year Dividend CAGR: 0.0%
Market Cap: $0.3 billion
Sector: Water Utility
Global Water Resources is a small-cap utility company focused on water management services, particularly in Arizona. The 0.8% dividend hike mirrors its limited historical growth, with the company largely focusing on reinvestment in infrastructure. Despite the modest increase, GWRS offers a unique opportunity within a niche utility market. Global Water Resources pays a monthly dividend and 2024 marks the 8th consecutive year of increases.
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.