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This Dividend Stock Delivers the Bacon In More Ways Than One

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November 19, 2012 – Comments (0) | RELATED TICKERS: SYY , UNP , JCI

The company was founded by John F. Baugh in 1969. It went public on March 3, 1970, and is the only publicly traded company of its kind in the U.S. Fortune Magazine in its May 21, 2012 issue ranked the company as the 7th largest Fortune 500 Company in Texas, the 69th largest in America, the largest non-oil related company with headquarters in Houston and the 3rd largest non-oil related company headquartered in Texas, behind AT&T and Dell.

Since the company's initial public offering in 1970, sales have grown from a modest $115 million to over $37 billion. The industry it serves has expanded from $35 billion to more than $200 billion. As the largest player in the industry, the company has relationships with approximately 400,000 customers. Operating from more than 180 locations throughout the United States, Canada and Ireland, the company's product lines are as diverse as its 45,000 employees.

Today, the decision to consume meals prepared away from home is as much out of necessity as choice. The company engages in the marketing and distribution of a range of food and related products primarily to the food-service or food-away-from-home industry, including not only the ingredients needed to prepare meals, but also numerous ancillary preparation and serving items. Who is this company? It is..

Sysco Corporation (SYY)

On November 14th the company increased its quarterly dividend 3.7% to $0.28 per share. The dividend is payable on January 25, 2013, to shareholders of record at the close of business on January 4, 2013. The yield based on the new payout is 3.7%.


Below are several other companies that have recently increased their cash dividends to shareholders:

Union Pacific Corporation (UNP) Union Pacific Railroad Company, provides rail transportation services in North America. November 15th the company increased its quarterly dividend 15% to $0.69 per share. The dividend is payable January 2, 2013, to stockholders of record November 30, 2012. The yield based on the new payout is 2.3%.

Neenah Paper, Inc. (NP) engages in the production of technical products and fine papers worldwide. November 15th the company increased its quarterly dividend 25% to $0.15 per share. The dividend is payable March 4, 2013 to shareholders of record as of February 15, 2013. The yield based on the new payout is 2.5%.

The Williams Companies, Inc. (WMB) operates as an energy infrastructure company in the United States. November 15th the company increased its quarterly dividend 0.1% to $0.325 per share. The dividend is payable Dec. 24, 2012, to holders of record at the close of business on Dec. 7. The yield based on the new payout is 4.2%.

Orchids Paper Products Company (TIS) engages in the manufacture and sale of various private label tissue products for the consumer market. November 15th the company increased its quarterly dividend 25% to $0.25 per share. The dividend payable on December 18, 2012, to stockholders of record at the close of business on December 3, 2012. The yield based on the new payout is 4.9%.

The Laclede Group, Inc. (LG) engages in the retail distribution, sale, and marketing of natural gas. November 14th the company increased its quarterly dividend 2.4% to $0.425 per share. The dividend is payable January 3, 2013, to shareholders of record on December 11, 2012. The yield based on the new payout is 4.5%.

Johnson Controls, Inc. (JCI) engages in building efficiency, automotive experience, and power solutions businesses worldwide. Its building efficiency business designs, produces, markets, and installs integrated heating, ventilating, and air conditioning. November 14th the company increased its quarterly dividend 5.5% to to $0.19 a share. The dividend is payable on Dec. 28 to shareholders of record on Dec. 7. The yield based on the new payout is 3.0%.

S.Y. Bancorp, Inc. (SYBT) operates as the bank holding company for Stock Yards Bank & Trust Company that provides commercial and personal banking services in the Louisville, Kentucky, Indianapolis, Indiana, and Cincinnati, Ohio metropolitan markets. November 14th the company increased its quarterly dividend 5.3% to $0.20 per share. The dividend is payable December 31, 2012, to stockholders of record as of December 10, 2012. The yield based on the new payout is 3.7%.

Xerox Corporation (XRX) provides business process and information technology (IT) outsourcing, and document management services worldwide. November 13th the company increased its quarterly dividend 35% to $0.0575 per share. The dividend is payable on April 30, 2013. The yield based on the new payout is 3.6%.

Ramco-Gershenson Properties Trust (RPT), a real estate investment trust (REIT), engages in the ownership, development, acquisition, management, and leasing of community shopping centers, single tenant retail properties, and one regional mall in the Midwest. November 12th the company increased its quarterly dividend 3.0% to $0.16825 per share. The dividend is payable January 2, 2013 to shareholders of record on December 20, 2012. The yield based on the new payout is 5.4%.

Boston Properties, Inc. (BXP), a real estate investment trust (REIT), together with its subsidiaries, engages in the ownership and development of office properties. November 8th the company increased its quarterly dividend 18% to $0.65 per share. The dividend is payable on January 29, 2013 to shareholders of record as of the close of business on December 31, 2012. The yield based on the new payout is 2.6%.

Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Full Disclosure: Long SYY in my Dividend Growth portfolio. See a list of all my dividend growth holdings here.

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