Paccar, Deere, and 10 More Companies That Raised Their Stock Dividends This Week

Text size

Carrier Global,

Deere
,

Zoetis
,
and

Paccar

were among the many large U.S. companies that declared dividend increases this week.

In addition,

Southwest Airlines

(ticker: LUV) said it will resume paying a dividend. The company had suspended its payout in April 2020 owing to the pandemic.

The airline’s board of directors said it will reinstate its quarterly dividend at 18 cents a share, the same amount before its suspension.

Prior to that move—which the airline, along with its peers, had to do to save capital—Southwest had paid a dividend every quarter going back more than 40 years. On an annualized basis, the dividend will be 72 cents a share.

The stock has returned minus 11.3% this year through Dec. 9, compared with minus 15.6% for the

S&P 500
,
including dividends.

Meanwhile,

Carrier Global

(

CARR

) said it plans to boost its quarterly dividend by 23% to 18.5 cents a share from 15 cents. The stock, which yields 1.7%, has returned minus 19.7% this year.

Deere (DE), which makes various types of equipment, declared a quarterly disbursement of $1.20 a share, an increase of 6% from $1.13. The stock, which has returned 28% this year, yields 1%.

Animal health company Zoetis (ZTS) said it plans to raise its quarterly dividend by 15% to 37.5 cents a share from 32.5 cents. The stock, which yields 0.8%, has returned minus 36.7% this year.

Mastercard

(MA) declared a quarterly dividend of 57 cents a share, an increase of 16% from 49 cents. Shares of the global payments company yield 0.7%, and they have returned minus 2.4% in 2022.

Paccar (PCAR), which makes trucks and equipment, said it will boost its regular quarterly dividend to 25 cents a share “on each newly-split share.” It is payable on March 8, 2023, to stockholders of record at the close of business on Feb. 14.

Separately, the company said it will give one additional share of its common stock for each two shares held. It applies to stockholders of record at the close of business on Jan. 17, 2023 and will be paid on Feb. 7.

The stock, which yields 1.5%, has returned 16.4% this year.

Stryker

(

SYK

) said it will pay a quarterly dividend of 75 cents a share, up 8% from 69.5 cents. The medical technology company’s stock, which yields 1.2%, has returned minus 7.7% this year.

Alexandria Real Estate Equities

(ARE), which operates as a real estate investment trust, declared a cash dividend of $1.21 a share. That’s an increase of 2.5% from $1.18 a share. The stock yields 3.3%, and it has returned minus 31.6% this year.

Another REIT,

American Tower

(AMT), declared a quarterly cash distribution of $1.56 a share, an increase of 6% from $1.47. The stock yields 2.7%, and it has returned minus 25.5% this year.

Edison International

(EIX), a utility company, said it will raise its quarterly dividend by 5.4%, marking the 19^th consecutive annual increase. The dividend will go to 73.75 cents a share from 70 cents. The stock, which is flattish this year, yields 4.3%.

Bristol Myers Squibb

(BMY), a large pharmaceutical company, declared a quarterly dividend of 57 cents a share. That’s a boost of 5.6% from 54 cents. The stock, which has returned 30.4% this year, yields 2.7%.

Ecolab

(ECL) declared a quarterly dividend of 53 cents a share, an increase of 4% from 51 cents. The stock, which yields 1.3%, has returned minus 35.3% this year. It marks the 31st straight annual dividend increase for the company.

Broadcom

(AVGO) declared a quarterly dividend of $4.60 a share, up 12%. The chip maker’s stock, which yields 3%, has returned minus 16.2% in 2022.

Write to Lawrence C. Strauss at [email protected]