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Dividend Stock Advisor

CVS, Abbott Labs Likely to Hike Dividends

By David Peltier | 2016-12-06 10:51:20.0
Stocks in Focus: PNR, ABT, CVS

Pentair (PNR:NYSE) increased its quarterly dividend today for the 41st consecutive year, to $0.345 a share (2.3% yield). Investors at the close of trading on Jan. 24, 2017, will qualify for the payment of on Feb. 10, 2017. Management can cover the payout 2.6x with expected 2017 earnings of $3.53 a share.

We believe that one of the best times to buy dividend-paying stocks is before a likely payout boost. With that in mind, here are two other names with a long track record of raising their dividends in December.

First up is Abbott Laboratories (ABT:NYSE), which currently pays out $0.26 a share (2.7% yield) on a quarterly basis. The drugmaker has raised its payout 44 consecutive years and can cover the dividend 2.3x with expected 2017 earnings of $2.44 a share. The stock has lagged in 2016, losing 14%, year to date. That said, Abbott has a solid balance sheet and is expected to average 9% annual profit growth over the next three years.

Next, CVS Health (CVS:NYSE) will likely boost its quarterly dividend of $0.425 a share (2.2% yield) for the 14th consecutive year later this month. The company can cover the payout 3.5% with expected 2017 earnings of $5.87 a share and has a stable balance sheet. The shares have also lagged, year-to-date, declining 19%. Even so, management is expected to average 10% annual earnings growth over the next four years.

Regards,

David S. Peltier

Steer Clear of Banc of California
Stocks in Focus: BANC

It appears capable of supporting its newly raised dividend, but a delayed SEC filing and potential delisting are cause for concern.

12/05/16 - 11:25 AM EST
One Dividend Canceled, Another Hiked 11%
Stocks in Focus: ATI, EMN, DOW

There were plenty of potential red flags around the dividend.

12/02/16 - 10:17 AM EST

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