It was a quiet two weeks for dividend stocks, as the
first-quarter earnings season wound down. The Dow Jones
Select Dividend Index (DVY), the benchmark of the model
portfolio, was virtually unchanged over the period.
We sold our position of 123.06 shares of Air Products
(APD) on Feb. 19. The stock had gained 83% from our
initial purchase two years before, bidding the dividend
yield below 2%. While we believe that management has room
to increase the dividend later this year, we didn’t want
to be greedy with our gains.
Campbell Soup (CPB) announced quarterly results on Feb.
25 that fell short of the consensus analyst estimates.
The company earned $0.66 per share in the fiscal second
quarter (ended January), as revenue fell 2% year over
year, to $2.23 billion.
Campbell was affected in the period by the stronger
dollar, and now expects fiscal 2015 (ending July)
earnings of $2.32 to $2.38 per share. That said,
management is targeting $200 million off annual expense
reductions, to be realized over the next three years.
The stock fell fractionally over the past two weeks and
recently changed hands around $46.62. We maintain the
company is attractively valued for its 2.7% dividend
General Electric (GE) added 4% to recent gains this week
and was recently trading at around $25.89. Despite the
increase, we maintain the company is attractive to
purchase at current levels, for the 3.6% dividend yield.
Altria (MO) declared its next quarterly dividend of $0.52
a share (3.7% yield) on Feb. 25. Investors at the close
of trading on March 11 will qualify for the payment on
David S. Peltier
Today is the must-own date for the next quarterly dividend.
Selling entire stake in Air Products.
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