Yield Hunter: Regional Bank Increases Dividend 400% (HBAN, PRK, TRST, R, KNX, JBHT, CNW, MNRO)
Regional bank Huntington Bancshares (HBAN) announced on July 21 it is ramping up its dividend to 4 cents, which will be effective October 3, 2011 for shareholders on record as of the close of business September 19, 2011. The increase represents a 400% increase. If the company continues to pay a dividend of 4 cents going forward, it will sport a yield over 2% based on Friday’s close.
Meanwhile, transporation and supply management company Ryder System (R) announced on July 21 that it will increase its dividend by 7% to 29 cents per share. Based on Friday’s close, investors can expect a yield of just under 2% going forward. This gives Ryder the highest dividend in the Trucking Stocks Index . Other companies in the Index that pay dividends are Knight Transportation (KNX), JB Hunt Transport Services (JBHT), and Con-way (CNW), to name a few.
Elsewhere, Monro Muffler/Brake (MNRO) announced on July 21 that it gave investors a dividend hike. The firm, which provides automotive undercar repair and tire services, raised distributions by 12.5%. Shares yielded just under 2% as of Friday’s close. The average yield for the Auto Parts and Repair 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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