Dividend increases aren’t the only thing the Kellogg Company (K) is known for. For anyone over the age of two, Snap, Crackle and Pop are very familiar characters. Since 1933 the three elf characters have been the spokesmen for Kellogg’s Rice Krispies. Snap, the baker, is the oldest and the problem solver. Crackle, middle child with no distinguishable occupation, is the good-hearted leader of the group. Pop, the marching band leader, is the clumsy younger child. He plays jokes, doesn’t take things seriously.
This past week Kellogg’s led the way with its cash dividend increase and was joined by several other companies:
Kellogg Company (K) is a leading producer of ready-to-eat cereal, and also sells convenience foods such as cookies, crackers, cereal bars, fruit snacks, and frozen waffles. Recently, the company declared a dividend of $0.375/share, payable on September 15, 2009, to shareholders of record at the close of business on September 1, 2009. This is the 339th consecutive quarter since 1925 that Kellogg Company has paid a dividend. The current yield based on the new dividend is 3.15%.
Inergy Holdings, L.P. (NRGP) is engaged in the investment in propane and other natural gas liquids companies. This past week, the company announced an 4% increase in its quarterly cash distribution to $0.78/unit for the quarter ended June 30, 2009. The distribution will be paid on August 14, 2009, to unitholders of record as of August 7, 2009. At the new rate the current yield is 7.26%.
Alliance Resource Partners LP (ARLP) produces and markets coal primarily to utilities and industrial users in the United States. It offers low-sulfur coal, medium-sulfur coal, and high-sulfur coal. This week, the company increased its quarterly cash distribution to $0.745/per unit. At the new rate the current yield is 8.51%.
Lazard Ltd (LAZ) is an independent investment banking firm serves clients throughout the world from offices in 16 countries. Recently, the company announced a 25% increase in its quarterly dividend to $0.125/share. The dividend is payable on August 28, 2009, to shareholders of record on August 7, 2009. The current yield based on the new dividend is 1.48%.
Digital Realty Trust, Inc. (DLR) is a real estate investment trust (REIT) that owns 75 properties primarily in North America. This past week, the company increased its quarterly dividend 9.1% to $0.36/share in anticipation of increasing REIT taxable income and distribution requirements for 2009. The current yield based on the new dividend is 3.69%.
Chevron Corporation (CVX) is a global integrated oil company (formerly ChevronTexaco) has interests in exploration, production, refining and marketing, and petrochemicals. Wednesday, the company increased its quarterly dividend 4.6% to $0.68/share, payable September 10, 2009 to shareholders of record at the close of business August 19, 2009. CVX is a Dividend Achiever and has increased its dividend for 22 consecutive years. The current yield based on the new dividend is 3.98%.
Harleysville Group Inc. (HGIC) is a regional holding company for property and casualty insurance companies that operates in 32 states, primarily in the eastern half of the U.S. Thursday, the company increased quarterly cash dividend by 8 percent to $0.325/share. The dividend is payable September 30, 2009, to shareholders of record on September 15, 2009. The ex-dividend date is September 11. The current yield based on the new dividend is 4.24%.
Comfort Systems USA, Inc. (FIX) provides installation, maintenance, repair, and replacement services for heating, ventilation, and air conditioning systems within the mechanical services industry. Recently, the company declared a quarterly dividend of $0.05/share. The dividend is payable on September 21, 2009 to shareholders of record at the close of business on August 31, 2009. The current yield based on the new dividend is 1.72%.
Like recalling fond childhood memories, nostalgically looking back at years of dividend increases can be a pleasant experience. For stocks with a long string of consecutive dividend increases, see this list.
Full Disclosure: No position in the aforementioned stocks. See a list of all my income holdings here.