These 5 Companies Recently Increased Their Dividends

3. Stanley Black & Decker, Inc. (NYSE:SWK)

Dividend Yield as of July 21: 2.75%

An American manufacturing company, Stanley Black & Decker, Inc. (NYSE:SWK) has been making dividend payments since 1876 and maintains a 54-year streak of dividend growth. In the first quarter of 2022, the company’s free cash flow was recorded at $246.1 million, and expects the number to fall between $1 billion to $1.5 billion in FY22. Stanley Black & Decker, Inc. (NYSE:SWK) paid over $116 million in dividends to shareholders during the quarter, up from $110.1 million paid during the same period last year.

On July 20, Stanley Black & Decker, Inc. (NYSE:SWK) declared a quarterly dividend of $0.80 per share, up 1.3% from the previous dividend. The dividend is payable on September 20, for shareholders of the company on September 6. As of July 21, the stock’s dividend yield came in at 2.75%.

In July, Deutsche Bank lowered its price target on Stanley Black & Decker, Inc. (NYSE:SWK) to $128, highlighting a challenging Q2 earnings season. However, the firm has a Buy rating on the stock due to expected growth in the demand for industrial products.

According to Insider Monkey’s data, Stanley Black & Decker, Inc. (NYSE:SWK) was a part of 38 hedge fund portfolios in Q1, down from 42 in the previous quarter. These hedge funds owned stakes worth over $922 million in the company. Gates Capital Management was the company’s largest stakeholder in Q1, owning nearly 1.5 million SWK shares.

Saturna Capital mentioned Stanley Black & Decker, Inc. (NYSE:SWK) in its Q3 2021 investor letter. Here is what the firm has to say:

“Stanley Black &Decker performed well through the first part of the year but struggled over the summer. China accounts for much of its production, and their zero-tolerance approach to pandemic safety measures has led to disruption, compounded by shipping difficulties and rising materials expenses. We still believe one outcome of the pandemic will be a buoyant home improvement market, given that one never knows when the next pandemic lockdown may occur.”