Dividend Company News

Dividend Companies in the News 3.27.2011

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A snapshot of the important news and events from the world of dividend paying companies.

Dividend Raises

WP Carey and Co. (WPC) announced that its Board of Directors has increased the Company’s quarterly cash distribution to $0.512 per share for the quarter ending March 31, 2011. Payable on April 15, 2011 to shareholders of record as of March 31, 2011, this marks the Company’s 40th consecutive distribution increase.

Raven Industries (RAVN) announced that its board of directors approved a 12.5 percent increase in the company’s regular quarterly cash dividend to 18 cents per share. The dividend is payable April 15, 2011 to shareholders of record on March 31, 2011. This is the company’s 25th consecutive annual cash dividend increase.

BNY Mellon (BY) authorized an increase in the quarterly dividend from the current nine cents per share of BNY Mellon common stock to 13 cents per share, which is payable on May 10, 2011, to holders of record as of the close of business on April 29, 2011.

American Greetings (AM) American Greetings Corporation (NYSE: AM) today announced a quarterly cash dividend of 15 cents per share, an increase of 7% or 1 cent per share. The quarterly dividend will be paid on April 21, 2011 to shareholders of record at the close of business on April 11, 2011.

Raytheon Company (RTN) increased the Company’s annual dividend payout rate by 15 percent from $1.50 to $1.72 per share. The Board also authorized payment of a quarterly cash dividend of $0.43 per outstanding share of common stock to be paid on April 28, 2011 to shareholders of record as of the close of business on April 6, 2011.

Mergers, Acquisitions, and Misc.

Colgate-Palmolive Co. (CL) agreed to purchase the Sanex personal care brand from Unilever PLC for €672 million (approximately US$940 million). Sanex is a premium-priced personal care brand with a distinct positioning around healthy skin and strong market share positions in Europe. This strategic acquisition will greatly strengthen Colgate’s important personal care business in Europe.

Proctor and Gamble Company (PG) and Teva Pharmaceutical Industries Ltd. (TEVA) announced the signing of a master agreement to create a partnership in consumer health care by bringing together both companies’ existing over-the-counter (OTC) medicines and complementary capabilities to accelerate growth. The partnership will include a joint venture that combines the companies’ OTC businesses in all markets outside of North America. The markets included in the joint venture generated sales of more than $1 billion in 2010.

H.B. Fuller Company (FUL) reported financial results for the first quarter that ended February 26, 2011. First Quarter 2011 Highlights Included:

* Organic revenue increased 9 percent year-over-year;
* EIMEA region posted another strong quarter of growth with organic revenue up over 13 percent from last year;
* Gross profit margin improved 20 basis points sequentially despite continued raw material price escalation;
* Local presence established in Turkey to enhance commercial position in fast-growing market.

For Fy 2011 FUL expects Net revenue 10 percent to 12 percent higher and earnings per diluted share of between $1.75 and $1.85

CenturyLink, Inc. (CTL) and Qwest Communications (Q) had their merger approved by the Public Utilities Commission of Oregon. When the merger is completed, the combined company will serve about 800,000 access lines in the state. As part of the approval process, the companies committed to investing a minimum of $45 million in broadband infrastructure in Oregon over five years.

Brown Forman (BF.B), maker of Jack Daniels and other popular spirits, announced that its Board of Directors has authorized the repurchase of up to $250 million of its outstanding Class A and Class B common shares through November 30, 2011.

I'm a dividend growth investor who is aiming to retire early in 5 years at the age of 45. My goal is to live off the income my dividend portfolio and rental property produce exclusively and leave the corporate rat race. I hope you will join me in this journey!

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