As expected, BP announced today that the company will officially suspend their quarterly dividend in the wake of the Gulf oil spill disaster.
BP shares plunged nearly 16% today as investors dumped the stock since a dividend cut appears imminent.
Target announced today that the retailer is increasing its quarterly dividend by 47% to $.25 per share.
Goldman Sachs analyst, Michelle della Vigna, believes that the increasing cost of damages and reduced earnings outlook will impact BP’s dividend.
Fitch Ratings believes that BP's dividend is safe despite the widespread speculation of an imminent dividend cut.
This marks the 7th consecutive year that Northrop Grumman has increased their dividend payment.
The dividend increase marks the 33rd consecutive year that Clorox has increased their annual dividend payout – dating back to 1977.
One of our favorite Canadian dividend plays is the Bank of Montreal, which we view as the safest Canadian dividend stock.
Sonoco announced today that their Board of Directors approved a 4% increase in their quarterly dividend.
We likely will not see any dividend increases from financial stocks until at least the second half of this year and probably not until 2011.
Despite their tremendous cash flow, the world’s largest retailer remains one of the lower yielding dividend stocks in the Dow Jones index.
Office supplies retailer Staples announced today that their Board of Directors has approved a quarterly dividend payment of $.0825 per share.
Mastercard announced today that their Board of Directors has approved a quarterly dividend payment of $.15 per share.
Retailer J.C. Penney’s announced that their Board of Directors has approved a quarterly dividend of $.20 per share.