Torchmark said late Thursday it has raised its quarterly dividend to 16 cents per share from 15 cents. The new dividend will be paid on Nov. 1 to shareholders of record as of Oct. 2. The dividend increase raises the annual yield to 1.24% from 1.17%.
Shares of Torchmark are rising 0.7% to $51.38.
Elsewhere, Parker-Hannifin (PH) also said late Thursday that it has increased quarterly dividend, bumping the payment higher by 4% to 27 cents per share from 26 cents. The dividend is payable Sept. 3 to shareholders of record as of Aug. 23.Shares of Parker-Hannifin were up 0.2% to $62.96. In other dividend news, Intersections (INTX) said its board has declared an ongoing regular quarterly cash dividend of 15 cents per share. The first dividend will be paid on Sept. 10 to shareholders of record as of Aug. 31. Based on Thursday's closing price of $6 per share, the dividend represents an annual yield of 10%. The dividend announcement came as Intersections reported second-quarter earnings of 29 cents a share, swinging from a year-ago loss of 15 cents a shares. Revenue in the quarter was up 9% from a year earlier to $98.9 million, Intersections said. In addition, the identity management solutions company said its board has authorized management to consider financing alternatives that may be used to increase the company's debt, with the cash proceeds potentially being used to pay special dividends and/or make stock repurchases. Shares of Intersections were rallying by 30.8% to $7.85. -- Written by Robert Holmes in Boston. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV