The most import dividend hikes (week 44)
Exxon Mobil, AbbVie and ConocoPhillips all announce their 2024 dividend increase
In a very busy week we counted more than 25 dividend hikes and 1 very big dividend cut. Let’s take a look at the overview of all increases from October 28 through October 31. We had 6 double digit dividend hikes and one massive cut by Estée Lauder (EL).
By far the most impressive dividend hike was announced by ConocoPhillips (COP) with a 34.5% dividend hike to $0.78 quarterly per share. ConocoPhillips paid this dividend already if we add the special (variable) dividend but this time its a real increase of the regular dividend.
Other companies doing double digit dividend hikes are CRA International (CRAI), MLPX, Marathon Petroleum, Nexstar Residential and Simon Property Group. For Simon it was the 4th small dividend hike in 2024 for a total increase of 10.1%. That’s why we add Simon Property to our list of biggest dividend hikes this week.
Some big names that announced a dividend hike last week are ExxonMobil, AbbVie and Amcor, all three Dividend Aristocrats. In the image on top of this article you can see the top-10 dividend hikes from last week. For the full list with details on all 27 stocks a paid subscription to dividendhike.com is required (article continues after this).
So below we will display the full list of all 27 dividend actions from last week including detailed stats. We especially like ConocoPhillips, CRA International, Marathon Petroleum and Nexpoint Residential because of their back to back double digit dividend hikes. All these stocks have raised their dividend by more than 10% on average in each of the last five years.
The most shocking dividend action came from Estée Lauder, cutting the dividend by 47%. It is no surprise that the stock price is down 52% year to date. As we often say, the dividend and stock price often go hand in hand longer term.
Three Dividend Aristocrats announced increases, with AbbVie, Exxon Mobil and Amcor. AbbVie and Exxon both are trading near their all time highs.
One stock missing in the above table is Visa (V). Visa announced a 13.5% dividend hike last week. We already prepared the above tables and stats when we discovered the missing Visa dividend hike.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.