It seems that ever so many years the market turns down and someone declares the death of buy-and-hold. Some even go as far to say that Warren Buffett has lost his touch. With time on their side, the buy-and-hold investors and Mr. Buffett always seem to make a spectacular rebound. As long-term dividend investors our focus should be on acquiring fundamentally sound dividend growth stocks at a reasonable valuation and maintaining our asset allocation.
This week several companies provided their shareholders positive feedback with increased cash dividends:
Casey’s (CASY) has over 1,500 convenience stores in the Midwest, selling food, beverage, health and automotive products. September 7th the company increased its quarterly dividend 35% to $0.135/share. CASY is a Dividend Achiever and has raised its dividend for 11 consecutive years. The yield based on the new payout is 1.26%.
R.G. Barry Corporation (DFZ) designs, purchases from third party contract manufacturers, markets and distributes comfort footwear for men, women and children. September 7th the company raised its quarterly dividend 40% to $0.07/share. The dividend is payable October 4, 2010 to common shareholders of record on September 20, 2010. The ex-dividend date is September 16, 2010. The yield based on the new payout is 2.46%.
Frisch’s Restaurants (FRS) operates 91 family restaurants under the name Frisch’s Big Boy, and operates 35 Golden Corral grill buffet restaurants. September 8th the company raised its quarterly dividend 15% to $0.15/share. The dividend is payable October 8, 2010 to shareholders of record at the close of business on September 20, 2010. The ex-dividend date is September 16, 2010. The yield based on the new payout is 3.03%.
Flexsteel Industries (FLXS) manufactures, imports, and markets residential, recreational vehicle, and commercial upholstered and wooden furniture products in the United States. September 9th the company increased its quarterly dividend 50% to $0.075/share. The dividend is payable October 1, 2010 to shareholders of record as of September 20, 2010. The ex-dividend date is September 16, 2010. The yield based on the new payout is 2.08%.
Brady Corp (BRC) is an international manufacturer and marketer of solutions that identify and protect premises, products and people. September 9th the company raised its quarterly dividend 2.9% to $0.18/share. A quarterly dividend will be paid on October 29, 2010, to shareholders of record at the close of business on October 8, 2010. BRC is a Dividend Achiever and has raised its dividend for 25 consecutive years. The yield based on the new payout is 2.64%.
Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.
Full Disclosure: No position in the aforementioned securities. See a list of all my income holdings here.