One recent example is Kinder Morgan, Inc. (KMI), the energy transportation and storage company, boosted its quarterly dividend by 17%, from 30 cents per share to 35 cents per share year over year, and a 9% increase over the previous quarter dividend of 32 cents per share. The stock trades at 26 times forward earnings, and pays a dividend rate of 3.6%.
Penske Automotive Group, Inc. (PAG), the international automotive retailer, bumped up its quarterly dividend by 9%. The stock trades at 10 times forward earnings, plus it sports a yield of 1.8%.
A week ago, Cummins Inc. (CMI) raised the quarterly dividend on its common stock by an incredible 25 percent to 50 cents per share, up from 40 cents per share.The stock has a forward price to earnings ratio of 8.5. The dividend payout is 2.3%.
For a free list of stocks going ex dividend this month, which can be downloaded and sorted, go to WallStreetNewsNetwork.com.
Disclosure: Author did not own any of the above at the time the article was written.
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