PepsiCo Raises Its Dividend, and Marriott and Hilton’s Payouts Make a Comeback

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Baxter International
,

Devon Energy
,
and

PepsiCo

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

In addition, lodging companies

Marriott

International (MAR) and

Hilton

Worldwide Holdings (HLT) both said they plan to reinstate their quarterly dividends following suspensions earlier in the pandemic.

Baxter International (ticker: BAX), which makes medical products, said it plans to raise its quarterly disbursement to 29 cents a share. That’s an increase of 1 penny, or about 3.5%, from 28 cents a share.

The stock, which yields 1.6%, has returned about minus 15% this year as of Thursday’s close, including dividends, compared with minus 13% for the

S&P 500.

Devon Energy (DVN) said it planned to pay a fixed-plus-variable quarterly dividend of $1.27 a share, a 27% boost from the previous quarter. The company is an oil-and-gas producer.

Its stock, which yields 5.3%, has returned about 55% this year.

Several other energy companies declared dividend hikes this week, including

Diamondback Energy

(FANG). The company’s board declared a quarterly dividend of 70 cents a share, up nearly 17% from 60 cents. The stock, which has returned about 30% this year, yields 2%. That translates to an annual base dividend of $2.80 a share.

The company also declared a variable dividend of $2.35 a share, bringing the variable plus base payout to $3.05 a share on a quarterly basis.

The stock, which has returned about 30% year to date, yields 2%.

Pool Corporation

(POOL) said it plans to boost its quarterly dividend by 20 cents, or 25%, to $1 a share from 80 cents.

The stock yields 0.8%, and it has returned around minus 29% year to date. The company is a wholesale distributor of pools and other backyard products.

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Beverage and snack company PepsiCo (PEP) declared a quarterly disbursement of $1.15 a share, up about 7% from $1.075 cents a share. The stock, which yields 2.7%, has returned around minus 1% this year.

Expeditors International of Washington

(EXPD) declared a semiannual dividend of 67 cents a share, an increase of 15.5% from 58 cents. The stock, which has returned about minus 19% this year, yields 1.2%.

Host Hotels & Resorts

(HST) said it will boost its quarterly dividend to 6 cents, doubling it from 3 cents. The stock, which yields 0.6%, has returned about 14% this year.

Elsewhere in the lodging sector, Marriott International (MAR), which hadn’t paid a quarterly dividend since the first quarter of 2020, reinstated its payout this week. It declared a quarterly disbursement of 30 cents a share, compared with 48 cents previously.

Meanwhile, Hilton Worldwide Holdings (HLT) said it will reinstate its quarterly dividend at 15 cents share, the same level it was at before being suspended early in the pandemic in 2020.

Write to Lawrence C. Strauss at [email protected]