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Posts Tagged ‘Dividend increases’

This Company Just Raised its Monthly Dividend by 8.4%

Pacific Coast Oil Trust (ROYT) owns net profits interests in the sale of oil and natural gas production.  The Company pays monthly dividends with an annual dividend yield of 9.8%.  Pacific Coast Oil Trust just increased its dividend by 8.4% to $0.151 per month, payable on February 14, 2013, to unitholders of record on February 4, 2013. The Trust’s distribution relates to net profits and overriding royalties generated during December 2012 as provided in the conveyance of net profits and overriding royalty interest.

Pacific Coast Oil Trust (ROYT) is projected to produce earnings of $1.84 in 2013 which is a 28% increase from 2012.

First Call has a consensus BUY recommendation with a 1.8 rating.  Zacks Investment has a 12-month price target of $19.40 on ROYT.

Higher crude oil production and prices favorably impacted this month’s distribution as total production was approximately 8% higher and average realized prices were 2% higher than the prior month.  The current net profits amount from the Developed Properties was approximately $5.8 million, after receipt by PCEC from its counterparties of $0.4 millionrelated to the settlement of applicable hedge contracts. The development expense for the Developed Properties was $0.5 million during the period.

The current distribution also includes a 7.5% overriding royalty on the Remaining Properties which produced 22,783 Boe from 36 Orcutt Diatomite wells and one Orcutt Field well. Production from the Remaining Properties was approximately 10% higher than the prior month due to the Orcutt Diatomite expansion project being ahead of schedule. The cumulative deficit of the net profit interest on the Remaining Properties, including the 7.5% overriding royalty payments, is approximately $5.4 million.

Best Income Stocks for 2013 – HollyFrontier (HFC)

HollyFrontier Corporation (NYSE: HFC) operates as an independent petroleum refiner and marketer in the United States. It produces light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, liquefied petroleum gas, fuel oil, and specialty and modified asphalt.  HollyFrontier has a strong history of increasing shareholder value with special dividends and share buybacks.  The company trades at a discount to other refiners, has a strong balance sheet, is well managed and is looking to expand

HollyFrontier made the Goldman Sachs “Best Income Stocks” list for 2013.  In a recent note, Goldman Sachs Group Inc. pointed out a number of stocks that could provide some easy money for investors by virtue of what the Wall Street bank calls a “social contract” — a combination of earnings appreciation due to expected share buybacks along with dividend yields.  It could be easy money, provided shares remain stable or rise, for investors looking for as close to a guarantee as equities can offer.

HollyFrontier boasts an 8.4% dividend, more than twice that of any other company.  But its relatively low 3.5% buyback earnings accretion keeps the total payout at 11.9%.  Trading in the upper $40s, HollyFrontier also is considered to have the highest price upside of nearly 50%, with a target of $69.

HollyFrontier has an equity summary score of 7.6 out of 10 for a Bullish outlook.  HFC has a mean analyst recommendation of 2.2 out of 4.0 for a BUY rating.

HollyFrontier reported 3Q earnings increased 18.5%  and 9 months earnings increased 15% from the same periods a year earlier.

HollyFrontier reported third quarter net income attributable to stockholders of $600.4 million or $2.94 per diluted share for the quarter ended September 30, 2012, compared to $523.1 million or $2.48 per diluted share for the quarter ended September 30, 2011. For the nine months ended September 30, 2012, net income attributable to HollyFrontier stockholders totaled $1,335.6 million or $6.44 per diluted share compared to $800.0 million or $5.63 per diluted share for the nine months ended September 30, 2011.

HollyFrontier’s President & CEO, Mike Jennings, commented, “We had a tremendous quarter with third quarter results reaching new record levels. Exceptionally high inland to coastal crude oil differentials as well as robust heavy crude oil differentials helped drive our refined product margins to all time highs. Looking forward, we believe that the structural crude advantages currently driving our strong operating margins will continue to positively impact our operating income, allowing us to continue to pay both regular and special dividends. We remain focused on increasing total shareholder return while maintaining a strong balance sheet.”

On November 1, HollyFrontier raised its quarterly dividend 33% and also unveiled an additional special payout of 50 cents per share, the refiner’s latest moves to reward investors.

 

The five-cent increase to HollyFrontier’s regular dividend brings the payout to 20 centsper share and will cost the company about $40.7 million more a year. HFC has a current dividend yield of 1.69%.  The latest dividend increase represents the fourth dividend increase since the company’s merger in July 2011.

HollyFrontier said its special cash dividend, its fifth special payout this year.  The company’s board year-to-date has declared $3.10 in special and regular dividends, which represents an approximate 8% cash yield.

HollyFrontier Corporation (NYSE: HFC) was one of the big winners for subscribers to the Get Rich Monthly income Plan.  HFC was purchased in January 2012 as part of the perpetual covered call strategy.  Monthly Income subscribers received the $3.10 in dividends and $1,690 in total call option premium.  The total return on HFC during 2012 was 212% for newsletter subscribers.

 

PSEC Increases Monthly Dividend by 8.2%

Prospect Capital Corporation (PSEC) announced that Prospect has declared revised monthly cash distributions to shareholders in the following amounts and with the following record and payment dates, representing an 8.2% increase from the previous announcement in early November and representing a dividend yield of 12.8% based on the closing stock price as of December 6, 2012:

11.0000 cents per share for December 2012 (record date of December 31, 2012 and payment date of January 23, 2013); and

11.0025 cents per share for January 2013 (record date of January 31, 2013 and payment date of February 20, 2013).

These dividends mark Prospect’s 53rd and 54th consecutive cash distributions to shareholders and replace the dividends for December 2012 and January 2013 that were previously announced on November 7, 2012.

“Through September 30, 2012 in calendar year 2012, and not including expected excess income in the current December 2012 quarter, Prospect generated net investment income in excess of dividends declared of more than $70 million, or more than $0.33 per outstanding share, representing a significant storehouse of potential future additional dividend value for shareholders,” said John F. Barry, Chairman and Chief Executive Officer of Prospect.

Because of its 2012 record date, Prospect’s 11.0000 cents per share December 2012 dividend should enjoy current 2012 tax rates for shareholders and should not be subject to higher 2013 tax rates envisioned by currently passed United States legislation.

Based on past distributions and assuming its current share count for upcoming dividends, Prospect since inception through its January 2013 dividend will have distributed more than $10.72 per share to original shareholders and approximately $600 million in cumulative distributions to all shareholders.

Prospect expects to declare its February 2013, March 2013, and April 2013 distributions in February 2013.

The Special Dividend Craze Continues

Electro Scientific Industries (NASDAQ: ESIO) declared a special dividend of $2.00 per share.  The dividend will be payable on December 27, 2012, to stockholders of record on December 13, 2012.  The annual yield on the dividend is 19.1 percent.

PetMed Express, Inc. (NASDAQ: PETS) declared a special dividend of $1.00 per share.  The dividend will be payable on December 24, 2012, to stockholders of record on December 14, 2012.  The annual yield on the dividend is 8.7 percent.

Campbell Soup (NYSE: CPB) declared a quarterly dividend of $0.29 per share, or $1.16 annualized.  The dividend will be payable on December 28, 2012, to stockholders of record on December 14, 2012, with an ex-dividend date of December 12, 2012.  The annual yield on the dividend is 3.2 percent.  Additionally, Campbell said that a quarterly dividend of $0.29 per share is now payable on Dec. 28, 2012 to shareholders of record at the close of business on Dec. 14, 2012. The dividend was previously scheduled to be paid on Jan. 28, 2013 to shareholders of record at the close of business on Dec. 26, 2012.

Oracle Corp (NASDAQ: ORCL) declared a special dividend of $0.18 per share after accelerating its Q2, Q3, Q4 dividend for fiscal 2013 ahead of the fiscal cliff.  The dividend will be payable on December 21, 2012, to stockholders of record on December 14, 2012, with an ex-dividend date of December 12, 2012. The annual yield on the dividend is 0.6 percent.

Carnival Corp. (NYSE: CCL) declared a special dividend of $0.50 per share.  The dividend will be payable on December 28, 2012, to stockholders of record on December 7, 2012.  The annual yield on the dividend is 1.3 percent.  Holders of Carnival Corporation common stock or Carnival plc ADSs will receive a dividend payable in U.S. dollars. The quarterly dividend for Carnival plc ordinary shares will be payable in sterling unless shareholders elected to receive the dividend in U.S. dollars by November 23, 2012. The special dividend for Carnival plc ordinary shares will be payable in sterling unless shareholders elect to receive the dividend in U.S. dollars by December 7, 2012.

Sun Hydraulics, Inc. (NASDAQ: SNHY) declared a special dividend of $1.00 per share.  The dividend will be payable on December 28, 2012, to stockholders of record on December 14, 2012.  The annual yield on the dividend is 3.8 percent.

Espey Manufacturing & Electronics Corp. (NYSE: ESP) declared a special dividend of $1.00 per share.  The dividend will be payable on December 20, 2012, to stockholders of record on December 10, 2012.  The annual yield on the dividend is 3.8 percent.  Espey Manufacturing also declared a quarterly dividend of $0.25 per share, or $1 annualized. This is an 11.1% increase from the prior dividend of $0.225. The dividend will be payable on December 20, 2012, to stockholders of record on December 10, 2012, with an ex-dividend date of December 6, 2012.

Get Rent Checks from the Government

Government Properties Income Trust (NYSE: GOV) is a real estate investment trust (REIT).  The Company was formed to invest in properties that are leased to government tenants.  The Company owns 29 properties, 25 of which are leased primarily to the United States Government and four of which are leased to the states of California, Maryland, Minnesota and South Carolina, respectively.  The Company is a wholly owned subsidiary of HRPT Properties Trust (HRPT).

As measured by square footage, the IRS is GOV’s biggest tenant.  The next-biggest tenant is U.S. Customs & Immigration. These two make up over 20% of GOV’s rental income. The next biggest in terms of rental income is the Department of Justice.

Government Properties announced that it priced a public offering of 7,500,000 common shares at a price to the public of $23.25 per share. GOV expects to use the net proceeds of this offering to repay amounts outstanding under its revolving credit facility and for general business purposes, including funding potential acquisitions.  Government Properties is currently trading at $22.25 or 4.5% below the share offering price.

Government Properties recently announced it has raised its regular quarterly common share distribution by $0.01 to $0.43per common share ($1.72 per share per year).  Government Properties has a current dividend yield of 7.73%.

Normalized FFO for the six months ended June 30, 2012 were $49.5 million, or $1.05 per share, compared to Normalized FFO for the six months ended June 30, 2011 of $40.5 million, or $1.00 per share.

Net income was $25.0 million, or $0.53 per share, for the six months ended June 30, 2012compared to $21.2 million, or $0.52 per share, for the same period last year.

Since its initial public offering in 2009, GOV has acquired nearly $1 billion of property, at an average cap rate of 8.7%.  Since April 1, 2012, GOV has acquired seven properties for an aggregate purchase price of$125.2 million.

Government Properties has an equity summary score of 8.3 out of 10 for a BULLISH outlook.  It has a 12-month price target of $26.50.

Homeowners Choice is a Strong Buy with Special Dividend

Homeowners Choice, Inc. (HCII) announced that its board of directors has declared a regular quarterly cash dividend on its common shares in the amount of $0.225 per share, which represents a 12.5% increase over the previous quarterly rate of $0.20 per share.  Homeowners Choice has a current dividend yield of 3.74%.

In addition, the board declared a special dividend of $0.10 per common share.  Both the regular quarterly dividend and the special dividend will be paid Dec. 21, 2012 to shareholders of record on the close of business Nov. 16, 2012.

Homeowners Choice, a leading provider of homeowners’ insurance, today announced that it will transfer the listing of its common stock from the NASDAQ Global Select Market to the New York Stock Exchange. The company expects its shares to begin trading on the New York Stock Exchange on Oct. 25, 2012, under the new ticker symbol “HCI.” Until the transfer is complete, the company’s common shares will continue to trade under the ticker symbol “HCII” on the NASDAQ Global Select Market.

Better-than-expected second-quarter earnings, growth in revenues and strong credit quality are the primary rank drivers for this stock.

Homeowners Choice reported its second-quarter results on August 1 with earnings per share of 74 cents, beating the Zacks Consensus Estimate of 60 cents by 23.3% and year-ago earnings of 30 cents by 146.7%. Strong results for the quarter were primarily aided by substantially higher net premiums earned. However, slightly lower net investment income and higher expenses were the downsides.

Net premiums earned increased 112.8% to $36.3 million from $17.0 million in the year-ago quarter.

The Zacks Consensus Estimate for 2012 increased 8.8% to $2.46 per share based on two out of three upward estimate revisions over the last 30 days. The current estimate implies year-over-year growth of 101.4%.

For 2013, two out of three estimates was revised higher over the same time frame, lifting the Zacks Consensus Estimate by 23.1% to $2.45 per share.

Homeowners Choice has an equity summary score of 9.7 out of 10 for a VERY Bullish outlook.

This High Yield Stock Just Increased Distributions by 5%

Calumet Specialty Products Partners, L.P. (CLMT) announced an increase in its quarterly cash distribution to $0.62 per unit ($2.48 per unit on an annualized basis) for the quarter ended September 30, 2012 on all of its outstanding limited partner units.  The distribution will be paid on November 14, 2012 to holders of record of such units at the close of business on November 2, 2012.

This distribution represents an increase of 5.1% over the quarterly distribution of $0.59 per unit ($2.36 per unit on an annualized basis) paid in August 2012 for the second quarter of 2012 and a 24.0% increase over the third quarter of 2011.

Calumet has a current dividend yield of 7.88% based on today’s stock price.  Calumet has an equity summary score of 8.8 out of 10 for a BULLISH outlook.

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America. It operates in two segments, Specialty Products and Fuel Products.

Get a 10% Dividend Yield with Combined Special and Regular Dividend Payout

Watsco, Inc. (WSO) announced today that the Company’s Board of Directors declared a special cash dividend of $5.00 per share, totaling approximately $172 million, and a quarterly cash dividend of 62 cents per share, both payable on October 31, 2012 to shareholders of record at the close of business on October 15, 2012.

Watsco has paid dividends for over 35 consecutive years and has paid an increasing dividend over the last 11 years. The special dividend of $5.00 represents approximately two years of dividends based on the current annual dividend rate of $2.48 per share. The Company anticipates it will continue to pay quarterly cash dividends, but on a more moderate basis beginning in 2013, subject to the Company’s financial position, government tax policy and general economic conditions.

The special dividend of $5.00 is a current dividend yield of 6.5% and the regular dividend yield is 3.27%.  Combined, the dividends will yield nearly 10%.

Watsco improves indoor living and working environments with air conditioning and heating solutions that provide comfort regardless of the outdoor climate. Our solutions also promote healthier indoor spaces by removing pollutants from the indoor air that can lead to asthma, allergies and reductions in productivity.

3 High Yield REITs with a Bullish Outlook

Shares of high yielding REITs have been relatively flat in August.  The Vanguard REIT ETF (VNQ), which tracks the performance of an index that measures the performance of publicly traded equity REITs, is up over 14 percent this year, nearly double the Dow Jones gain of 8 percent over the same period.  Investors have looked to mortgage REITs to take advantage of the recovering U.S. housing market. Mortgage REITs do not directly invest in real estate but invest in the mortgages on real estate properties.

While the housing market has gone from bad to less bad, these REITs have just declared higher dividends for their investors.  Each of these REITs has high dividend yields over 10% with a Bullish outlook.

Newcastle Investment Corp. (NYSE: NCT) announced that its Board of Directors has declared a quarterly dividend of $0.22 per common share for the third quarter of 2012, representing a 10% increase from the prior quarter’s dividend of $0.20per common share. The dividend is payable on October 31, 2012 to shareholders of record on October 1, 2012.  Newcastle has a current dividend yield of 10.3%.

Newcastle Investment announced that it has completed the sale of 100% of its interests in CDO X in connection with the liquidation and termination of CDO X.  Newcastle received $130 million for $89.75 million face amount of subordinated notes and all of its equity in CDO X.  The sale and resulting deconsolidation of CDO X from the Company’s balance sheet will eliminate the impact of CDO X’s negative net book value and generate an approximately $200 million gain for the third quarter.

Newcastle has an equity summary score of 8.7 out of 10 for a Bullish outlook.  First Call analysts’ consensus has a Buy rating of 1.7.  Newcastle has a 12-month price target of $8.75.

Newcastle Investment (operated as a REIT) focuses on investing in and actively managing opportunistic investments in real estate related assets. The Company primarily invests in two distinct areas: (1) Residential Servicing and Securities and (2) Commercial Real Estate Debt and Other Assets.

The Board of Directors of CreXus Investment Corp. (NYSE: CXS) declared the third quarter 2012 common stock cash dividend of $0.32 per common share.  This dividend is payable October 25, 2012 to common shareholders of record on October 1, 2012. The ex-dividend date is September 27, 2012.

This is an 18.5% increase from the prior dividend of $0.27.  CreXus Investment has a current dividend yield of 10.2%.  EPS is projected to increase 21% in 2013 and 18% in 2014.

CreXus has an equity summary score of 7.6 out of 10 for a Bullish outlook.  First Call analysts’ consensus has a Buy rating of 2.3.  CreXus has a 12-month price target of $12.50.

CreXus (operated as a REIT) acquires, manages and finances, directly or through its subsidiaries, commercial mortgage loans and other commercial real estate debt, commercial real property, commercial mortgage-backed securities and other commercial and residential real estate-related assets.

New York Mortgage Trust, Inc. (NYMT) announced that its Board of Directors declared a regular quarterly cash dividend of $0.27 per share on shares of its common stock for the quarter ending September 30, 2012. The dividend will be payable on October 25, 2012 to common stockholders of record as of September 28, 2012.  New York Mortgage has a current dividend yield of 14.5%.

New York Mortgage has completed an underwritten registered public offering of 10,000,000 shares of common stock at $6.73 per share.  New York Mortgage also granted the underwriters an option to purchase up to an additional 1,500,000 shares of common stock.  The proceeds will be used to purchase more assets.

New York Mortgage has an equity summary score of 9.0 out of 10 for a Bullish outlook.  First Call analysts’ consensus has a Buy rating of 2.0.  New York Mortgage has a 12-month price target of $8.25.

New York Mortgage invests in mortgage-related and financial assets and targets multi-family CMBS and Agency RMBS, including Agency RMBS consisting of adjustable-rate and hybrid adjustable-rate RMBS and Agency IOs consisting of interest only and inverse interest only RMBS that represent the right to the interest component of the cash flow from a pool of mortgage loans.

HollyFrontier Declares 4th Special Dividend in 2012

HollyFrontier Corporation (NYSE:  HFC) announced  that its Board of Directors declared an additional special cash dividend in the amount of $0.50 per share, payable on October 2, 2012 to holders of record of common stock on September 25, 2012.

Mike Jennings, CEO and President of HollyFrontier, said, “Our Board of Directors’ decision to issue a 2nd special dividend for the third quarter 2012, our 4th special dividend this year, and our 6th special dividend since the completion of the merger that formed HollyFrontier in July 2011, is a reflection of our continued commitment to return capital to shareholders. The Board of Directors has declared $3.00 of special and regular dividends in the last twelve months representing a 7.5% dividend yield on today’s closing price of $40.00 per share. In total, HollyFrontier has returned $952 million of capital to shareholders since July 2011, $741 million in special and regular dividends as well as $211 million in share repurchases of its common stock as of the second quarter results announcement.”

HollyFrontier said last month that its second-quarter profit more than doubled as the refiner saw strong revenue growth, helped by the merger. The company has benefited from increased oil production in the Bakken region of North Dakota and the Permian Basin in Texasand New Mexico, as a glut of crude oil in the midcontinental region has allowed HollyFrontier to boost refining margins.

HollyFrontier is trading at $40.00, 49% below its fair value of $59.77.  HollyFrontier pays a quarterly dividend of 1.50%.  HollyFrontier has an equity summary score of 9.4 out of 10 for a VERY Bullish outlook.

Subscribers to the Get Rich Monthly Income Plan have been investing in HollyFrontier since January 2012 with a total return of 134% year to date.

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