National CineMedia Dividend Increase
Another cinema company that's a surprising dividend gem is National CineMedia (NCMI) (NYSE: NCMI). The operator of the largest digital in-theater network in North America announced strong earnings last week, including a 31% growth in revenue, and a resulting hike in its quarterly dividend. CineMedia increased its payout 11% from 18 to 20 cents a share, giving the movie company a new yield of more than 3.8%. The dividend will be paid Dec. 2 to stockholders of record Nov. 18.
National CineMedia stock has outperformed the market slightly year-to-date in 2010, but the prospect of a big holiday movie season could mean big bucks for NCMI. The 3D craze of the summer resulted in a nice bump in profits for related stocks such as Imax (IMAX) (NASDAQ: IMAX) and the trend could continue to lift theaters like CineMedia going forward.
Aaron's Dividend Increase
Electronics and home furnishings retailer and rental shop Aaron's (AAN) said its quarterly dividend will increase 8.3% from 12 cents a share to 13 cents. That gives the Aaron's a new dividend yield of 0.025%. The dividend is payable Jan. 4 to shareholders of record Dec. 1.Aaron's stock had suffered before the fall due to weak consumer spending, but has come roaring back recently -- in part to a strong third-quarter earnings report that shows growing net profit and revenue. AAN stock is up over 21% in the last month compared with about a 6% hike for the S&P 500 index.
Snap-On Dividend IncreaseSnap-On (SNA), a global manufacturer and marketer of tools, shop equipment and diagnostic software, said it raised its quarterly dividend 7%, from 30 cents to 32 cents a share. That gives SNA stock an annualized dividend yield of about 2.4%. The new Snap-On dividend is payable Dec. 10 to shareholders of record Nov. 19. Wisconsin-based Snap-On has soared in 2010, up about 25% year-to-date. That's thanks in part to a recession mentality where folks are repairing and maintaining cars and equipment longer rather than ponying up the dough for newer models. Shares are up about 35% since mid-August lows and are pushing a new 52-week high.
Pennichuck Dividend IncreasePennichuck (PNNW), a small-cap company that specializes in water storage and distribution in the Northeast, said it increased its cash dividend 3% last week from 18 cents to 18.5 cents per share. The payout will be delivered Dec. 1 to shareholders of record Nov. 15 and will result in a new dividend yield of about 3.0%. Pennichuck has paid dividends since 1988.
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