Walgreens, Cummins Raise Their Payouts in a Busy Week for Dividend Increases

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Walgreens is among a fig of companies that said they would summation their dividends.

Karen Bleier/AFP via Getty Images

It was an progressive week for dividend boosts.

Walgreens Boots Alliance, Cummins, and Marsh & McLennan each declared higher payouts. And plentifulness of different U.S. companies were successful the premix arsenic well, including Goldman Sachs Group, Morgan Stanley, State Street, Ally Financial, Truist Financial, and Bank of New York Mellon.

Walgreens Boost Alliance (ticker: WBA) declared a quarterly dividend of 47.75 cents a share, up by a penny from 46.75 cents for a 2% increase. The stock, which yields 4.1%, has returned astir 18% this twelvemonth done Thursday, dividends included, compared with 17% for the S&P 500.

Cummins ( CMI ), whose products see motortruck engines, declared a quarterly disbursement of $1.45 a share. That is simply a 7% summation from $1.35 a share. The stock, which has returned 7% this year, yields 2.4%.

Marsh & McLennan (MMC), whose portfolio includes security brokerage, plans to rise its quarterly dividend to 53.5 cents a share, up 15% from 46.5 cents. The stock, which yields 1.5%, has returned astir 22% successful 2021.

It was 1 of respective fiscal services firms to marque dividend announcements this week. Elsewhere, Goldman Sachs Group (GS) declared a quarterly dividend of $2 a share, versus $1.25 currently, for a 60% boost. The stock, which yields 2.2%, has returned astir 43% this year.

Morgan Stanley (MS) said it would treble its quarterly dividend to 70 cents a stock from 35 cents. The banal yields 3% and has returned astir 36% this year.

State Street (STT) said it would rise its quarterly payout by 5 cents a share, oregon 10%, to 57 cents a stock from 52 cents. The stock, which has returned 14% this year, yields 2.8%.

Ally Financial (ALLY) declared a quarterly dividend of 25 cents a share, up from 19 cents, for a 32% increase. The stock, which yields 2%, has returned astir 44% twelvemonth to date.

Bank of New York Mellon (BK) plans to boost its quarterly dividend to 34 cents a share, up 10% from 31 cents. The stock, which has returned astir 16% this year, yields 2.8%.

Truist Financial (TFC) said it plans to suggest expanding its dividend by 7% to 48 cents a stock connected a quarterly ground from 45 cents currently. The banal yields 3.3%, and it has returned astir 18% successful 2021.

Outside of fiscal services, Conagra Brands (CAG) announced a 14% summation to its annualized dividend rate. That equates to a quarterly dividend of 31.25 cents a share, up from 27.5 cents currently. The nutrient company’s banal has returned astir minus 3% this twelvemonth and yields 3.6%.

Duke Energy (DUK) plans to summation its dividend to 98.5 cents a stock from 96.5 cents. That is simply a 2% hike. The inferior company’s stock, which yields 3.8%, has returned astir 16% this year.

PPG Industries (PPG), whose products see specialty materials and coatings, declared a quarterly disbursement of 59 cents a share. That is simply a 9% boost from 54 cents a share.

The banal has returned astir 20% this year. It yields 1.4%.

Write to Lawrence C. Strauss astatine lawrence.strauss@barrons.com

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