More Companies That Increased Dividends Last Week

Catching up on some dividend announcements from this past week: Johnson & Johnson (JNJ), Southern Company (SO), Kellogg (K).

Johnson & Johnson

• announced a 10.2% increase in the quarterly dividend to 54 cents per share versus 49 cents per share in the same quarter last year.

• based on 2010 estimated earnings per share of $4.85, the projected payout ratio is 45%. This compares to the 5-year average payout ratio of 41%.

• JNJ carries an S&P Earnings & Dividend Quality Ranking of A+.
  

Southern Company

• announced a 4% increase in the quarterly dividend to 45.5 cents per share versus 43.75 cents per share in the same quarter last year.

• based on 2010 estimated earnings per share of $2.35, the projected payout ratio is 77%. This compares to the 5-year average payout ratio of 74%.

• SO carries an S&P Earnings & Dividend Quality Ranking of A-.

Kellogg

• announced a 8% increase in the quarterly dividend to 40.5 cents per share versus 37.5 cents per share in the same quarter last year.

• based on 2010 estimated earnings per share of $3.59, the projected payout ratio is 45%. This compares to the 5-year average payout ratio of 47%.

• K carries an S&P Earnings & Dividend Quality Ranking of A+.
  

Disclosure: Long interest in JNJ, K