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General Mills
and
Micron Technology
announced a dividend increase this week, and many major banks have announced their disbursement plans.
General Mills (code: GIS) says it has a plan to increase its quarterly dividend to 54 cents, up from 51 cents, up nearly 6%.
The stock, which yields 2.9%, has returned about 13.6% this year through June 30, including dividends, compared with a 20% deduction for
S&P 500
.
USA
iron technology
(MU) announced a quarterly disbursement of 11.5 cents a share, up 15% from 10 cents. Shares of the semiconductor company, which have bounced back around negative 40% this year, hit 0.8%.
Elsewhere, some — but not all — of the largest U.S. banks have said they intend to raise their dividends, though they have not officially announced them. This follows the last round of financing stress test managed by the Federal Reserve.
Wells Fargo
(WFC), for example, said it expects to raise its third-quarter dividend to 30 cents a share from 25 cents.
Bank of America
(BAC) said it plans to increase its quarterly payout to 22 cents a share, up nearly 5% from 21 cents. And
Goldman Sachs
(GS) said capital plan including increasing the quarterly dividend to $2.50 per share from $2.
Opposite,
Citigroup
(C) said they have a plan maintain its quarterly dividend at 51 cents a share for the third quarter.
JPMorgan Chase
(JPM) said it has a plan to keep its quarterly dividend at $1 per share for the third quarter “due to higher capital requirements going forward.”
Write to Lawrence C. Strauss at [email protected]
