Wells Fargo, Cintas, and Hershey were among the many large U.S. companies that sweetened their dividends this week.
Wells Fargo (ticker: WFC), which has a national footprint and is based in San Francisco, plans to double its quarterly disbursement to 20 cents a share from 10 cents.
Last year, it was one of the very few large banks to slash its dividend during the pandemic. It cut it to 10 cents from 51 cents a share on a quarterly basis.
The stock, which yields 1.7%, has returned about 55% this year through July 29, dividends included, versus around 19% for the S&P 500.
Hershey (HSY) declared a quarterly dividend of 90.1 cents a share, up 12% from 80.4 cents. The stock, which has returned about 18% this year, yields 2%.
Cintas (CTAS), whose products include uniforms for businesses, plans to boost its quarterly disbursement to 95 cents a share, a 27% hike from 75 cents. The stock, which yields 1%, has returned about 12% in 2021.
Truist Financial (TFC) said it will hike its quarterly dividend by 3 cents a share to 48 cents. That’s a 7% increase.
Based in Charlotte, N.C., Truist is a large regional bank. Its stock yields 3.5%, and has returned about 17% year to date.
Mondelez International (MDLZ), whose product portfolio includes snacks and beverages, declared a quarterly dividend of 35 cents a share, versus 31.5 cents currently, for an 11% boost. The stock, which has returned around 9% this year, yields 2.2%.
Prescription drug distributor McKesson (MCK) declared a quarterly dividend of 47 cents a share, a 5 cent, or 12%, increase from 42 cents. The stock, which yields 0.9%, has a year-to-date return of about 19%.
Marathon Oil (MRO) said it will up its quarterly dividend by 25% to 5 cents a share from 4 cents. During the pandemic last year, the exploration and production company suspended its dividend and then reinstated it last fall at 3 cents a share.
The stock, which has returned nearly 80% this year, yields 1.3%.
Principal Financial Group (PFG) declared a quarterly disbursement of 63 cents a share, for a 3% boost from 61 cents.
The stock, which yields 4.1%, has returned about 30% this year. The company’s products focus on helping individuals and institutional clients manage their retirement, asset management, and other investment areas.
Packaging company Ball (BLL) plans to boost its quarterly dividend by 33% to 20 cents a share from 15 cents. The stock, which has returned around minus 13% this year, yields 1%.
Semiconductor company Skyworks Solutions (SWKS) declared a quarterly payout of 56 cents a share, a 12% increase from 50 cents. The stock has returned around 30% this year, and it yields 1.1%.
Republic Services (RSG) plans to raise its quarterly dividend to 46 cents a share from 42.5 cents for an 8% hike. Shares of the environmental services company have returned about 21% this year and yield 1.6%.
Write to Lawrence C. Strauss at [email protected]
