SLB, Con Ed, Fastenal raise dividend payouts

  • By Lawrence C. Strauss,
  • Barron's
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SLB (), Consolidated Edison (), and Fastenal () were among the large U.S. companies that announced dividend increases this week.

SLB, an energy-services company, will boost its quarterly disbursement to 25 cents a share, up 43% from 17.5 cents. That was the largest dividend increase among the six S&P 500 () companies that reported their plans this week.

The stock, which yields 1.2%, has has a one-year return of 57% through the close on Friday, dividends included, compared with around negative 12% for the S&P 500.

Con Edison, a utility that operates in the New York metropolitan area, declared a quarterly dividend of 81 cents a share. That’s an increase of 2 cents, or 2.5%, from 79 cents.

Con Ed is a member of the S&P 500 Dividend Aristocrats Index, whose constituents have paid out a higher dividend for at least 25 straight years. This marks the 49th straight year in which the company’s annual dividend will have increased.

The stock, which has returned 18% over the last year, yields 3.4%.

Fastenal will raise its quarterly payout to 35 cents a share from 31 cents, an increase of 13%.The company’s businesses include distributing industrial and construction supplies such as adhesives and power tools.

The stock, which has a one-year return of around negative 11%, yields 2.9%.

Signature Bank () plans to raise its quarterly payout to 70 cents a share from 56 cents. That’s a 25% hike.

The stock, which yields 2.2%, has a one-year return of negative 62%.

Oneok () will raise its quarterly disbursement by 2% to 95.5 cents a share from 93.5 cents.

The company, based in Tulsa, Okla., has operations that include distributing natural-gas liquids. The stock, which has a one-year return of 25%, yields 5.5%.

J.B. Hunt Transport Services () plans to raise its quarterly dividend by 2 cents a share, or 5%, to 42 cents a share.

Shares of the logistics company yield 0.9%. Their one-year return is about negative 5%.

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