AbbVie, Exxon Mobil and other companies that raised dividends last week
were among the large U.S. companies that announced dividend increases last week, while
reinstated its quarterly payment.
Exxon Mobil (ticker: XOM) declared a quarterly dividend of 88 cents per share, up a dime or about 1%. This is the energy giant’s first quarterly dividend increase since April 2019, when it rose from 82 to 87 cents per share.
The company said in a statement that it has increased its annual dividend payment for 39 consecutive years. That’s right, because even though the company didn’t increase its quarterly dividend in 2020, it still paid out more to shareholders that year than in 2019: $ 3.48 per share versus $ 3.43.
The final quarterly dividend, which is payable on December 10 to registered shareholders of the common shares at the close of business on November 12, will allow the company to remain in the
S&P 500 Dividend Aristocrats Index.
Its members have paid a higher dividend for at least 25 consecutive years.
At the close on October 28, Exxon Mobil shares had returned around 63%, including dividends, compared to around 24% for the
The title recently yielded 5.4%.
The board of directors of pharmaceutical company AbbVie (ABBV) declared a quarterly dividend of $ 1.41 per share, up from $ 1.30, an increase of 8.5%. The dividend is payable on February 15 to shareholders of record on January 14.
The stock, which earns 4.5%, has returned around 7% this year.
In other news,
(F) said its board of directors voted to reinstate its quarterly dividend. It will be 10 cents per share. It was previously 15 cents per share, but the company suspended payment in March 2020 at the start of the pandemic.
The reinstated quarterly dividend on Common and Class B shares is payable on December 1 to shareholders of record at the close of business on November 19.
The stock has returned around 92% this year.
Hartford Financial Services Group
(HIG) declared a quarterly dividend of 38.5 cents per share, down from 35 cents, for a 10% increase. The stock, which has returned around 50% since the start of the year, returns 1.9%.
(ROK) said it would increase its quarterly cash outflows by almost 5%, to $ 1.12 per share from $ 1.07. The stock, which earns 1.4%, has returned around 29% this year.
(DTE), a Detroit-based utility, reported a quarterly disbursement of 88.5 cents per share, an increase of about 7% from 82.5 cents.
The stock, which returns 3.1%, returned around 13% in 2021.
Corrections and amplifications
Rockwell Automation has announced that it will increase its quarterly dividend to $ 1.12 per share, from $ 1.07. An earlier version of this article incorrectly stated that it would increase its quarterly dividend from $ 107 to $ 112 per share.
Write to Lawrence C. Strauss at [email protected]