Walgreens is among a number of companies that said they would increase their dividends.
Karen Bleier/AFP via Getty Images
It was an active week for dividend boosts.
Walgreens Boots Alliance, Cummins, and Marsh & McLennan all declared higher payouts. And plenty of other U.S. companies were in the mix as well, including Goldman Sachs Group, Morgan Stanley, State Street, Ally Financial, Truist Financial, and Bank of New York Mellon.
Walgreens Boost Alliance (ticker: WBA) declared a quarterly dividend of 47.75 cents a share, up by a penny from 46.75 cents for a 2% increase. The stock, which yields 4.1%, has returned about 18% this year through Thursday, dividends included, compared with 17% for the S&P 500.
Cummins ( CMI ), whose products include truck engines, declared a quarterly disbursement of $1.45 a share. That is a 7% increase from $1.35 a share. The stock, which has returned 7% this year, yields 2.4%.
Marsh & McLennan (MMC), whose portfolio includes insurance brokerage, plans to raise its quarterly dividend to 53.5 cents a share, up 15% from 46.5 cents. The stock, which yields 1.5%, has returned about 22% in 2021.
It was one of several financial services firms to make dividend announcements this week. Elsewhere, Goldman Sachs Group (GS) declared a quarterly dividend of $2 a share, versus $1.25 currently, for a 60% boost. The stock, which yields 2.2%, has returned about 43% this year.
Morgan Stanley (MS) said it would double its quarterly dividend to 70 cents a share from 35 cents. The stock yields 3% and has returned about 36% this year.
State Street (STT) said it would raise its quarterly payout by 5 cents a share, or 10%, to 57 cents a share from 52 cents. The stock, which has returned 14% this year, yields 2.8%.
Ally Financial (ALLY) declared a quarterly dividend of 25 cents a share, up from 19 cents, for a 32% increase. The stock, which yields 2%, has returned around 44% year to date.
Bank of New York Mellon (BK) plans to boost its quarterly dividend to 34 cents a share, up 10% from 31 cents. The stock, which has returned about 16% this year, yields 2.8%.
Truist Financial (TFC) said it plans to propose increasing its dividend by 7% to 48 cents a share on a quarterly basis from 45 cents currently. The stock yields 3.3%, and it has returned about 18% in 2021.
Outside of financial services, Conagra Brands (CAG) announced a 14% increase to its annualized dividend rate. That equates to a quarterly dividend of 31.25 cents a share, up from 27.5 cents currently. The food company’s stock has returned about minus 3% this year and yields 3.6%.
Duke Energy (DUK) plans to increase its dividend to 98.5 cents a share from 96.5 cents. That is a 2% hike. The utility company’s stock, which yields 3.8%, has returned about 16% this year.
PPG Industries (PPG), whose products include specialty materials and coatings, declared a quarterly disbursement of 59 cents a share. That is a 9% boost from 54 cents a share.
The stock has returned about 20% this year. It yields 1.4%.
Write to Lawrence C. Strauss at [email protected]
