Paccar, Philip Morris, Texas Instruments lift dividends

  • By Lawrence C. Strauss,
  • Barron's
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Paccar (PCAR), Philip Morris (PM) and Keurig Dr Pepper (KDP) were among the large U.S. companies that declared dividend increases this week.

Paccar, which makes trucks, plans to boost its quarterly disbursement to 37 cents a share, up 9% from 34 cents.

The stock, which yields 1.6%, had returned minus 2% this year through Sept. 15, including dividends. The S&P 500 (.SPX) has returned minus 17%.

Tobacco giant Philip Morris International plans to boost its quarterly dividend by 2 cents a share to $1.27. That’s an increase of 1.6% from $1.25 a share, an annualized rate of $5.08 a share.

The stock, which has returned about 2% this year, yields 5.3%.

Keurig Dr Pepper has approved a 6.7% increase to its annualized dividend. It will go to 80 cents a share from 75 cents. The company produces a variety of specialty drinks. On a quarterly basis, the disbursement will to go 20 cents a share from 18.75 cents.

The stock yields 2.2%, and it has returned about 3% this year.

Texas Instruments (TXN) declared a quarterly dividend of $1.24 a share, up from $1.15, for an increase of 8%. The chip maker’s stock, which yields 2.8%, has returned minus 12% this year.

U.S. Bancorp (USB), a large regional bank based in Minneapolis, will raise its quarterly payout to 48 cents a share from 48 cents. That’s an increase of 4.3%.

The stock, which has returned minus 17% this year, yields 4.2%.

Another regional bank, Fifth Third Bancorp (FITB), plans to boost its quarterly dividend by 10% to 33 cents a share from 30 cents. The stock, which yields 3.7%, has returned minus 17% in 2022. The bank is based in Cincinnati.

Energy company APA (APA) declared an annualized dividend of $1 a share, double the previous level of 50 cents. The next quarterly dividend will be 25 cents a share.

The stock, which yields 2.5%, has returned about 56% this year.

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