In August there were quite a few dividend increases I was pleased about. As a dividend growth investor, it is important to pay attention to these dividend growing companies. Did any companies you owned or have your eyes on raise their dividend in August?
Union Pacific (UNP) - Union Pacific is a railroad transportation company operating in the Western United States. This past August, UNP grew their dividend rate for the 7th straight year in a row. The quarterly dividend grew from $0.69 to $0.79 per share. This is an increase of 14.50%!
Illinois Tool Works (ITW) – Illinois Tool Works is an industrial product and equipment manufacturer selling products worldwide. The company has increased dividends for 39 consecutive years. ITW recently increased their dividend by 10.53% from $0.38 to $0.42 per share each quarter.
Scotts Miracle-Gro Company (SMG) - Scotts Miracle-Gro manufactures and sells consumer lawn and garden products such as fertilizer and grass seed. This is the 4th annual dividend increase for SMG. Will they become the next dividend growth king? They are making a case this month with a 34.62% increase. Scotts grew their dividend from $0.325 to $0.4375 per quarter.
Cincinnati Financial (CINF) – Cincinnati Financial is a property casualty insurance company operating in the United States. This past month they had a smaller increase of only 3.07% growing the dividend rate from $0.4075 to $0.42 per share each quarter. I guess we can give Cincinnati Financial some slack for their small dividend increase as this is the companies 53rd consecutive annual raise.
Williams Companies (WMB) - Williams Companies is an energy infrastructure company. They have been growing thier dividend rate for 10 years in a row. Most recently they had a 3.9% increase in their quarterly dividend rate. The rate was increased from $0.3525 to $0.36625 per share.
Altria Group (MO) - Altria is a United States tobacco company with the famous brand Marlboro cigarettes. Altria is a dividend growing legend with 45 years worth of increases. This past month Altria raised their quarterly dividend rate by 9.09%. The dividend rate increased from $0.44 to $0.48 per share.
Harris Corp. (HRS) - Harris Corp. operates as an international communications and information technology company serving governments and commercial markets worldwide. Harris recently increased their quarterly dividend from $0.37 to $0.42 per share. This is a growth rate of 13.52%. Harris Corp. has grown their dividend for 12 consecutive years.
There were some pretty good dividend increases in August. I was particularly interested in the increases from Altria, Harris Corp. and Union Pacific. Scotts Miracle-Gro looks interesting to me and I am intrigued to look more into the company.
Were there any dividend increases you were particular excited about this past month? Please share in the comments below!
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