The Dow Jones Select Dividend Index (DVY:NYSE), the
benchmark of the model portfolio, gained 2% over the past
two weeks. The first-quarter earnings season is now behind
us and aggregate profits in the S&P 500 grew 3% from the
previous year, compared with expectations for a 3% decline.
Even so, the latest economic data and comments from the
Federal Open Market Committee lead us to believe that
interest rates will remain low until 2016. This should
benefit dividend-paying stocks, and we will continue to
monitor our coverage universe for potential buying
Campbell Soup (CPB:NYSE) will announce quarterly
results on the morning of May 22. The consensus analyst
estimates call for earnings of $0.52 a share in the fiscal
third quarter (ended April), down from $0.62 a year ago, on
$1.93 billion of revenue. The company has met or exceeded
profit expectations five straight quarters.
Management will host a conference call at 8:30 a.m. ET that
investors can access at (703) 639-1316, using the passcode
1654351. A replay will also be available for two weeks at
703-925-2533, using the same passcode. Both the live call
and a replay can be accessed at the company's website:
www.investors.campbellsoupcompany.com. On the call, we'll be
listening for any guidance from management.
The shares gained 3% over the past two weeks and recently
changed hands around $46. We maintain the company is
attractively valued for its 2.7% dividend yield.
AT&T (T:NYSE) gained more than 4% over the past two
weeks and recently changed hands around $35. We maintain the
stock is attractive to purchase at current levels, for the
5.4% dividend yield.
Sonoco Products (SON:NYSE) also moved more than 4%
higher over the past two weeks and recently changed hands
around $46. We continue to believe that shares are
attractive to purchase at current levels, for the 3%
Altria (MO:NYSE) declared its latest quarterly
dividend of $0.52 a share (4.1% yield) on May 20. Investors
at the close of trading on June 10 will qualify for the
payment on July 10.
ConocoPhillips (COP:NYSE) announced its next
quarterly dividend of $0.73 a share (4.5% yield) On May 12.
Investors at the close of trading on May 19 will qualify for
the payment on June 1.
KLA-Tencor (KLAC:Nasdaq) declared its latest
quarterly dividend of $0.50 a share (3.4% yield) on May 7.
Investors at the close of trading on May 13 will qualify for
the payment on June 1.
Lockheed Martin (LMT:NYSE) investors at the close of
trading on May 27 will qualify for the next quarterly
dividend of $1.50 a share (3.1% yield), to be paid on June 26.
Waste Management (WM:NYSE) announced its next
quarterly dividend of $0.385 a share (3.1% yield) on May 11.
Investors at the close of trading on June 2 will qualify for
the payment on June 19.
David S. Peltier
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