How’s your Wednesday?
Two companies of my portfolio announced their dividend increase.
ST. PAUL, Minn.–(BUSINESS WIRE)–The 3M Board of Directors (NYSE:MMM) today declared a dividend on the company’s common stock of $1.11 per share for the first quarter of 2016, an 8 percent increase over the quarterly dividend paid in 2015. The dividend is payable March 12, 2016, to shareholders of record at the close of business on Feb. 12, 2016. 3M has paid dividends to its shareholders without interruption for more than 99 years. As a result, the YOC of my position in MMM has improved to 2.8%.
This week ADM announced a 7.14% increase in its quarterly dividend. It was the 41th consecutive annual dividend increase. The dividend is raised from $0.28 to $0.30. The dividend pay date is March 8, 2016 to shareholders of record on February 16, 2016 (ex dividend February 11, 2016). I have 140 shares in ADM and my YOC in ADM has improved to an eye-hopping 3.5%.
Disclosure: Long MMM, ADM