Darden Restaurants and 2 More Companies that Raised Their Dividends This Week
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Darden Restaurants said it will raise its quarterly dividend.
Chet Strange/BloombergDarden Restaurants, Simon Property Group, and Kroger announced dividend increases this week.
This comes as the first half of the year draws to a close and the environment for dividends continues to improve after a tough stretch in 2020 due to the Covid-19 pandemic.
Darden Restaurants (ticker: DRI), which suspended its dividend during the pandemic and later reinstated it, plans to boost its quarterly payout to $1.10 a share, up 25% from 88 cents.
The stock, which yields 1.4%, has returned 31% this year through June 24, dividends included. The company’s brands include Olive Garden, LongHorn Steakhouse, and The Capital Grille.
Simon Property Group (SPG), a real-estate investment trust that operates shopping malls around the country, declared a quarterly dividend of $1.40 a share. That’s an increase of nearly 8% from $1.30 a share.
The stock, which has returned about minus 5% this year, yields 4.3%.
Grocery retailer Kroger (KR) declared a quarterly dividend of 21 cents a share, up nearly 17%, or 3 cents, from 18 cents. The stock, which yields 2.1%, has returned about 40% this year.
Write to Lawrence C. Strauss at lawrence.strauss@barrons.com