Dividend Growth Predictions for Second Half of February
In my ongoing series of annual dividend increase predictions for long-term dividend growth companies, I previously provided forecasts for 20 companies that historically announce their payout increases in the first half of February. Now, let’s turn our attention to another 10 dividend growth companies that are likely to announce their annual dividend increases in the second half of the month.
Before diving into these predictions, it’s worth noting some other companies that have already announced their annual dividend increases earlier this month. The Coca-Cola Company (KO), for instance, revealed its 62nd consecutive annual dividend increase, raising the annual rate to $1.94, a 5.4% boost. This move gives the beverage giant a forward yield of 3.27%. Tractor Supply Company (TSCO) also joined the party, announcing a 6.8% increase for its 15th year of dividend growth. The agricultural supply company’s new annual rate of $4.12 results in a forward yield of 1.74%. Meanwhile, leading biopharmaceutical company Gilead Sciences (GILD) extended its dividend growth streak to 9 years with a 2.7% boost. This brings the annualized dividends to $3.08, giving Gilead Sciences a forward yield of 4.30%.
Telephone and Data Systems (TDS) achieved an impressive milestone by completing 50 years of dividend growth. The telecommunications company raised its dividend by 2.7% to 76 cents, resulting in a forward yield of 5.41%. Similarly, CSX (CSX), a major railroad company, announced its 20th consecutive annual dividend increase, with a 9.1% boost. With an annual dividend of 48 cents, CSX now boasts a forward yield of 1.31%. Lastly, Genuine Parts Company (GPC) extended its remarkable dividend growth streak to 68 years, thanks to a 5.3% boost. The company’s forward yield now stands at 2.80%.
Now, let’s review the predictions I made for the first half of February and unveil my forecasts for the second half of the month:
1. The Home Depot, Inc. (HD) – Prediction: 7.7 – 10.0% increase to $9.00 – $9.20. Predicted Forward Yield: 2.48 – 2.54%
2. Walmart Inc. (WMT) – Prediction: 1.8 – 2.6% increase to $2.32 – $2.34. Predicted Forward Yield: 1.36 – 1.37%
Looking ahead, here are my dividend increase predictions for the second half of February:
1. Best Buy Co., Inc. (BBY) – Prediction: 2.2% – 4.3% increase to $3.76 – $3.84. Predicted Forward Yield: 5.10 – 5.21%
2. Essex Property Trust, Inc. (ESS) – Prediction: 4.8% – 5.6% increase to $9.68 – $9.76. Predicted Forward Yield: 4.11 – 4.15%
3. Leggett & Platt, Inc. (LEG) – Prediction: 0 – 2.2% increase to $1.84 – $1.88. Predicted Forward Yield: 9.29 – 9.49%
4. McGrath RentCorp (MGRC) – Prediction: 6.5% – 8.6% increase to $1.98 – $2.02. Predicted Forward Yield: 1.54 – 1.57%
5. Old Republic International Corporation (ORI) – Prediction: 2.0% – 4.1% increase to $1.00 – $1.02. Predicted Forward Yield: 3.52 – 3.59%
6. Silgan Holdings Inc. (SLGN) – Prediction: 8.3% – 11.1% increase to $0.78 – $0.80. Predicted Forward Yield: 1.77 – 1.82%
7. SpartanNash Company (SPTN) – Prediction: 2.3% – 4.7% increase to $0.88 – $0.90. Predicted Forward Yield: 4.25 – 4.35%
8. Sempra (SRE) – Prediction: 2.9% – 4.2% increase to $2.45 – $2.48. Predicted Forward Yield: 3.48 – 3.52%
Keep an eye out for these upcoming dividend announcements, as they can significantly impact the investment landscape for long-term dividend growth stocks.
Analyst comment
Neutral news. The article provides predictions for dividend growth announcements for various companies in the second half of February. The predictions suggest potential increases in dividend rates and forward yields for these companies. Investors should monitor these announcements for potential impact on the market.
