Yield Hunter: Media Company Increases Dividend by 100% (WAG, CVS, OCR, GCI, RUK, MDP, AHC, LNN)
Drugstore chain giant Walgreen (WAG) announced on June 13 it is ramping up its dividend to 22.5 cents, which will be effective September 12, 2011 for shareholders on record as of the close of business August 19, 2011. The increase represents a 28.6% increase, the highest quarterly increase in the company’s 110 year history. If the company continues to pay a dividend of 22.5 cents going forward, it will sport a yield over 3% based on Monday’s close.
Meanwhile, international media and marketing solutions company Gannett (GCI) announced on July 18 that it will increase its dividend by 100% to 8 cents per share. Based on Monday’s close, investors can expect a yield of over 2% going forward. This gives Gannett the fourth highest dividend in the Newspaper and Magazine Stocks Index , behind Reed Elsevier (RUK), Meredith (MDP), and A.H. Belo (AHC).
Elsewhere, Lindsay Corp (LNN) announced on July 18 that it gave investors a dividend hike. The firm, which designs and sells irrigation systems, raised distributions by 6% to 12.5 cents per share. Shares yielded just under 1% as of Monday’s close. The average yield for the Farming, Mining, and Construction Machine Stocks Index is just under 1%.
For more on these stocks, and the full list of tickerspy’s top-yielding Indexes visit tickerspy.com.
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