International Business Machines,
Raytheon Technologies,
and
MetLife
are among the large U.S. companies that announced dividend increases this past week.
First-quarter-earnings season is in full swing, and it was a busy week for these announcements.
IBM (ticker:IBM) raised its quarterly disbursement by a penny, or less than 1%, to $1.66 a share.
The stock, which yields 5.3%, has returned negative 9% this year through Thursday’s close, including dividends, compared with plus 8% for the
S&P 500.
IBM’s next quarterly dividend is payable on June 10 to shareholders of record as of May 10. This marks the 28th straight year in which the company has raised its quarterly dividend.
Raytheon Technologies (RTX) declared a quarterly dividend of 59 cents a share, a 7% boost from 44 cents. The stock, which has returned minus 1% this year, yields 2.4%.
The dividend is payable on June 15 to shareholders of record at the close of business on May 19.
MetLife (MET), a large insurer, will raise its quarterly payout to 52 cents a share, up 4%. The stock, which yields 3.4%, has returned minus 16% in 2023. The dividend is payable on June 14 to shareholders of record as of May 9.
Parker Hannifin
(PH), whose products include industrial machinery, declared a quarterly disbursement of $1.48 a share, an increase of 15 cents, or 11%. The dividend is payable on June 2 to shareholders of record as of May 12.
The stock, which has returned 12% this year, yields 1.6%. This would mark the 67th straight year that the company has increased its annual dividend payout.
Food-services company
Sysco
(SYY) raised its quarterly dividend by a penny to 50 cents a share. The stock yields 2.6%, and it’s returned minus 1% this year.
The dividend is payable on July 28 to shareholders of record at the close of business on July 7.
Otis Worldwide
(OTIS), which makes elevators and escalators, said it will pay a quarterly dividend of 34 cents a share. That’s an increase of 17% from 29 cents.
The stock has returned 10% this year, and it yields 1.6%. The dividend is payable on June 9 to shareholders at the close of business on May 19.
W.W. Grainger
(GWW) announced that will raise its quarterly dividend to $1.86 cents a share from $1.72, an 8% increase. The stock, which yields 1.1%, has returned 26% this year.
The dividend is payable on June 1 to shareholders of record as of May 8.
Ameriprise Financial
(AMP), which offers financial advice, plans to boost its quarterly disbursement by 10 cents a share to $1.35. That’s an increase of 8%. The stock yields 1.8%, and it’s returned minus 3% so far this year.
The dividend is payable on May 19 to shareholders of record when business closes on May 8.
American Water Works
(AWK) raised its quarterly dividend to 70.75 cents a share, an increase of 8% from 65.5 cents. The stock has returned minus 2% this year, and it yields 1.9%.
The dividend is payable on June 1 to shareholders of record as of May 9.
Avery Dennison
(AVY) declared a quarterly disbursement of 81 cents a share, up 8% from 75 cents. The stock, which yields 1.9%, has returned minus 6% this year. Its products include labeling and packaging materials.
The dividend is payable on June 21 to shareholders of record as of June 7.
Asset manager
Invesco
(IVZ) declared a quarterly dividend of 20 cents a share, up 1.25 cents, or 7%. The stock, which has returned minus 3% this year, yields 4.7%.
The dividend is payable on June 2 to shareholders at the close of business on May 9.
Write to Lawrence C. Strauss at lawrence.strauss@barrons.com
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