Johnson & Johnson: A Solid Dividend Aristocrat To Own

Yet another notable dividend aristocrat raised its dividends last week following Procter and Gamble’s 10% dividend increase last week. This brings the total year to date dividend increases in the S&P dividend aristocrats index to 18, versus only 5 dividend cuts so far in 2009.

Johnson & Johnson (JNJ), which engages in the research and development, manufacture, and sale of various products in the health care field worldwide, announced a 6.50% boost in its quarterly dividend to $0.49 per share. Johnson & Johnson is a dividend aristocrat, which has rewarded its shareholders with an uninterrupted streak of increased dividends for 47 consecutive years. The stock currently yields 3.60%. Check out my analysis of Johnson & Johnson (JNJ). I would consider adding on to my J&J stake as long as the stock is below $65.

Kellogg Company (K), which engages in the manufacture and marketing of ready-to-eat cereal and convenience foods., announced a 10% boost in its quarterly dividend to $0.375 per share, effective in the third quarter.. Kellogg Company is a former dividend aristocrat, which has fought back to regain its status of a dividend growth stock since 2005. The stock currently yields 3.50%.

The board of The J. M. Smucker Company (SJM), which engages in the manufacture and marketing of branded food products, has approved an increase in its quarterly dividend from $0.32 to $0.35 per share. The J. M. Smucker Company has rewarded its shareholders with an uninterrupted streak of increased dividends since 2002. The stock currently yields 3.60%.

Southern Company (SO), which operates as an energy company serving across the southeastern United States, announced a 4.20% raise in its quarterly dividend to $0.4375 per share. Southern Company has rewarded its shareholders with an uninterrupted streak of increased dividends for 7 consecutive years. The stock currently yields 5.90%.

Suburban Propane Partners, L.P. (SPH), a master limited partnership which engages in the distribution of propane, fuel oil, kerosene, diesel fuel, gasoline, and refined fuels, as well as marketing of natural gas and electricity in deregulated markets, announced boost in its quarterly distributions to $0.815 per unit. Suburban Propane Partners, L.P. has rewarded its unitholders with an uninterrupted streak of increased dividends since 1999. The units currently yield 8.80%.

Holly Energy Partners, L.P. (HEP), another master limited partnership which operates a system of refined product and crude oil pipelines, storage tanks, and distribution terminals primarily in west Texas, New Mexico, Utah, and Arizona, increased its quarterly distributions by 1.30% to $0.775 per share. Holly Energy Partners, L.P. has rewarded its unitholders with an uninterrupted streak of increased dividends for 5 consecutive years. The stock currently yields 12.10%.

Hudson City Bancorp (HCBK), which operates as the bank holding company for Hudson City Savings Bank that provides a range of retail banking services in the states of New Jersey, New York, and Connecticut, announced a 7.10% boost in its quarterly dividend to $0.15 per share. Hudson City Bancorp has rewarded its shareholders with an uninterrupted streak of increased dividends for 9 consecutive years. The stock currently yields 4.90%.

Cullen/Frost Bankers, Inc. (CFR), which provides various banking and financial products and services primarily in Texas, announced a 2.40% boost in its quarterly dividend to $0.43 per share. Cullen/Frost Bankers, Inc. is a dividend achiever, which has rewarded its shareholders with an uninterrupted streak of increased dividends for 15 consecutive years. The stock currently yields 3.60%.

Full Disclosure: Long JNJ

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