3M, Yum! Brands, and Other Companies That Raised Their Dividends This Week
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Yum! Brands, which operates KFC, raised its stock dividend this week.
Dan Mullan/Getty ImagesA slew of companies declared dividend increases this week, including 3M, Yum! Brands, Gilead Sciences, Corning, and Capital One Financial.
3M (ticker: MMM) plans to boost its quarterly dividend by a penny to $1.48 a share. The stock, which yields 3.3%, has a one-year return of 14%, dividends included. It marks the 63rd straight year in which the company has increased its dividend.
3M is a member of the S&P 500 Dividend Aristocrats, which have raised paid out a higher dividend every year for at least 25 years.
Elsewhere, Gilead Sciences (GILD) declared a quarterly dividend of 71 cents a share, versus 68 cents, for a 4% hike. The biopharmaceutical company’s stock, which yields about 4%, has a one-year return of about 8%.
Fast-food company Yum! Brands (YUM) said it will raise its quarterly disbursement by 3 cents a share to 50 cents for a 6% boost. The stock, which yields 1.9%, has had a flattish return over the past year.
Capital One Financial (COF) declared a quarterly dividend of 40 cents a share, up sharply from 10 cents a share. That will return the dividend to the same level it was before the company cut the payout to 10 cents last summer.
The financial services company’s stock yields 1.4%, and it has a one-year return of about 10%.
Intercontinental Exchange (ICE), which operates global exchanges and clearing houses, announced that it will raise its quarterly dividend by 3 cents a share to 33 cents for a 10% increase. The stock, which yields 1.2%, has a one-year return of about 23%.
CME Group (CME), which makes markets for derivatives, said it plans to pay a quarterly dividend of 90 cents a share, up 6% from 85 cents currently. The company paid a special dividend of $2.50 a share last month. The stock, which has a one-year return of minus 8%, yields 1.9%.
Corning (GLW), whose products include glass for notebook computers, said it will raise its quarterly dividend by 2 cents a share to 24 cents. That is a 9% boost.
The stock yields 2.6%, and its 12-month return is about 37%.
Quest Diagnostics (DGX) declared a quarterly disbursement of 62 cents a share, compared with 56 cents currently. That is an 11% increase. The stock, which has a one-year return of about 11%, yields 2%.
Insurer Kemper (KMPR) plans to raise its quarterly dividend by a penny to 31 cents for a 3% boost. The stock, which yields 1.7%, has a one-year return of about minus 9%.
Write to Lawrence C. Strauss at lawrence.strauss@barrons.com