More Dividend Hikes On The Way (DOW, MOS, TOO, TGP, FUL, GOOG)

The trend of higher dividends is not over and we should expect more dividend hike announcements elsewhere this earnings season.  After the close on Thursday came word that Dow Chemical Company (NYSE: DOW) and also from The Mosaic Co. (NYSE: MOS). Other hikes came from Teekay Offshore Partners L.P. (NYSE: TOO), Teekay LNG Partners L.P. (NYSE: TGP), and H.B. Fuller Company (NYSE: FUL).  Google Inc. (NASDAQ: GOOG) is listed in the dividend news but the reality is a bit different.

Dow Chemical Company (NYSE: DOW) reported that it was lifting its dividend by a sharp 28% to $0.32 per quarter from a prior payout of $0.25 per quarter.  Based upon the $32.67 closing bell, the new yield is now going to be about 3.9%.

The Mosaic Co. (NYSE: MOS) is still a relatively low dividend yield but the potash and fertilizers player is trying to get its payouts higher now that it has less and less influence held by the Cargill Trusts.  Its hike went up 150% to $0.125 from $0.05 per quarter.  The prior dividend yield will go from almost 0.4% up to just under 1.0% based upon a $51.17 closing price on Thursday.

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (NYSE: TOO) declared a cash distribution of $0.5125 per unit for the last quarter, an increase of $0.0125 or 2.5 percent from the previous quarter.

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (NYSE: TGP) declared a cash distribution of $0.675 per unit for the quarter ended March 31, 2012, up $0.045 or about 7 percent per unit from the previous quarter.

H.B. Fuller Company (NYSE: FUL) announced after the close on Thursday that it would increase its quarterly dividend from $0.075 to $0.085 per share of common stock for a 13% dividend increase.  The new yield is about 1.05%.

Google Inc. (NASDAQ: GOOG) is being represented as a stock dividend, but this is a share structure change that is effectively a two-for-one stock split.

JON C. OGG