Dividend Growth Stock Investing
December wasn’t a great month for dividend increases in my opinion. I only found 3 companies of interest that announced a dividend increase in December.
Bristol-Myers Squibb Co (BMY) - Bristol Myers Squibb is a global pharmacuetical company. They recently increased their dividend from $0.34 to $0.35 quarterly for a 2.95% increase. BMY closed Monday December 31, 2012 with a market price of $32.59 which gives them a current dividend yield of 4.3%. Bristol Myers has now increased their dividend payment for 4 years in a row. I would look for another dividend increase before they meet my criteria to be included in my dividend growth portfolio.
General Electric (GE) - General Electric is a diversified technology and financial services company. They recently increased their quarterly dividend from $0.17 to $0.19 for an increase of 11.77%. GE closed Monday December 31, 2012 with a market price of $20.99 giving them a current dividend yield of 3.62%. GE was forced to cut thier dividend during the 2008 financial collapse. However, they have since had 5 dividend increases in an effort to restore thier dividend reputation.
Pfizer Inc (PFE) - Pfizer is another global pharmacuetical company raising its dividend in December. PFE recently increased their quarterly dividend from $0..22 to $0.24 per share for an increase of 9.09%. Pfizer closed Monday December 31, 2012 with a market price of $25.08 which gives them a current dividend yield of 3.83%. Pfizer has increased thier dividend 4 years in a row since a 2009 dividend cut.
As you can see there weren’t too many dividend increases in December to get me excited. I don’t think any of the companies that I am interested in for investment purposes raised their dividends this past month. December saw quite a few special dividends and accelerated dividends being paid out by companies in order to avoid the Fiscal Cliff. However, I’ve found that most of the dividend growth companies that meet the criteria requirements for my portfolio stuck to thier normal routines.
Disclosure: I am long GE.
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3 Responses to Notable Dividend Increases: December 2012
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Very long GE
Mark
Thanks Mark. I went against my rules on GE but in my defense I bought the stock before I really had established my dividend growth investing rules. They have shown a commitment to building back up thier dividend after the cut but I understand quite a few investors got screwed over during the financial crisis by this company. Personally I purchased after the stock tanked so I’ve been pretty happy so far. Let’s just hope history doesn’t repeat itself and that management has learned a lesson.
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