July Recap: Unveiling the Month's Top High-Yield Dividend Surges

KB Home increased their quarterly dividend by 33% last month and these 14 other companies announced similar plans



Sector: Real Estate
Industry: Real Estate—Diversified

The St. Joe Company (JOE) has unveiled impressive second quarter and first half 2023 results, signaling robust organic growth across all segments. Under the leadership of President and CEO Jorge Gonzalez, The St. Joe Company's revenue soared by a remarkable 88% in Q2 2023, while net income attributable to The St. Joe Company surged by an impressive 104%. Particularly noteworthy is the substantial growth in real estate revenue, which skyrocketed by 148% to $69.3 million, and hospitality revenue, which marked a 52% surge to $45.1 million. Even with four new hotels yet to open at the start of the quarter, the hospitality sector displayed remarkable resilience.

In a strategic move, The St. Joe Company has decided to increase its cash dividend to $0.12 per share, marking a substantial 20% boost from the previous dividend payment in June 2023. This decision is propelled by The St. Joe Company's robust financial performance and underscores its commitment to creating value for shareholders. These positive outcomes are further underpinned by the surge in homesite unit sales, which grew by 30% to 300 units in Q2 2023, along with a surge in average base unit sales price to $153,000 compared to $83,000 in the same period last year. Furthermore, The St. Joe Company's success in forming unconsolidated joint ventures has significantly contributed to its revenue growth, exemplified by $88.9 million of revenue from these ventures in Q2 2023, compared to $33.9 million in the same period last year. This innovative approach has led to substantial financial returns for The St. Joe Company, validating the efficacy of its core business strategy. As The St. Joe Company continues to capitalize on its vast land holdings and focused execution, its trajectory towards sustained value creation seems promising.

The St. Joe Company and its subsidiaries operate as a real estate development, asset management, and operating company in Northwest Florida, with four key segments: Residential Real Estate, Hospitality, Commercial Leasing and Sales, and Forestry. The Residential Real Estate segment develops various-sized residential communities, primarily selling developed homesites and entitled undeveloped land. The Hospitality segment manages a range of entertainment assets, including a private membership club, hotels, golf courses, beach clubs, retail outlets, vacation rentals, and marinas. The Commercial Leasing and Sales segment constructs and leases various property types, while also planning, developing, and selling commercial land holdings. The Forestry segment focuses on growing and selling forest products, operating on approximately 175,000 acres in Northwest Florida. Founded in 1936, The St. Joe Company is headquartered in Watersound, Florida.


Sector: Real Estate
Industry: Reit—Mortgage

Arbor Realty Trust, Inc. (ABR), a prominent player in the real estate investment sector, has recently posted solid financial results for Q2 2023. With net income reaching $76.2 million, or $0.41 per diluted common share, compared to $69.9 million in the same quarter last year, Arbor Realty Trust, Inc.'s performance is on an upward trajectory. Notably, distributable earnings surged to $114.0 million, equating to $0.57 per diluted common share, up from $93.7 million in Q2 2022. Arbor Realty Trust, Inc.'s Agency Business segment has been a pivotal driver, generating revenues of $76.7 million this quarter.

Riding on a wave of success, Arbor Realty Trust, Inc. has responded to its strong performance by enhancing its dividend offerings. The Board of Directors sanctioned a substantial dividend increase, propelling the quarterly cash dividend to $0.43 per share of common stock for the quarter ended June 30, 2023. This move mirrors Arbor Realty Trust, Inc.'s confidence in its continued growth and profitability. The dividend payout is scheduled for August 31, 2023, benefiting common stockholders of record by August 15, 2023.

Such a bullish dividend declaration can be attributed to Arbor Realty Trust, Inc.'s impressive operational achievements and its persistent focus on expansion. Bolstered by a dynamic loan origination platform and a robust fee-based servicing portfolio, Arbor Realty Trust is tapping into lucrative opportunities within the real estate sector. This solid performance, combined with effective cost management strategies, contributes to Arbor Realty Trust, Inc.'s ability to provide attractive dividends to its shareholders, fostering investor confidence in its future prospects.

Arbor Realty Trust, Inc. is a real estate investment company focused on diversified structured finance assets in multifamily, single-family rental, and commercial real estate markets. Operating through two segments, Structured Business and Agency Business, it primarily invests in real estate-related bridge and mezzanine loans, preferred and direct equity, as well as various mortgage-related securities. Offering bridge financing, preferred equity investments, mezzanine financing, and junior participation financing, Arbor Realty Trust also underwrites, originates, sells, and services multifamily mortgage loans. As a qualified real estate investment trust, it was founded in 2003 and is headquartered in Uniondale, New York.


Sector: Energy
Industry: Oil & Gas Midstream

Viper Energy Partners LP (NASDAQ: VNOM), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG), has unveiled impressive financial results for Q2 2023, showcasing remarkable growth and record-breaking achievements. With an average production increase of 5.1% from Q1 2023 and a staggering 7.0% year-over-year surge, hitting an all-time high, Viper Energy Partners LP's performance is on an upward trajectory. Notably, it reported $79.9 million in consolidated net income for Q2 2023, contributing to its decision to elevate the annual base distribution by an impressive 8% to $1.08 per common unit. This move marks the continuation of its enhanced return of capital program, which aligns with Viper Energy Partners LP's improved balance sheet and robust cash flow. Travis Stice, CEO of Viper Energy Partners LP's General Partner, highlighted that this boost in distribution underscores their dedication to consistent and expanding returns over the long term. Viper Energy Partners LP's strategic focus on high-quality royalty assets and its close collaboration with Diamondback have proven fruitful, as evidenced by the consecutive record-breaking oil production and a strong growth outlook.

Viper Energy Partners LP's financial strength and promising outlook are underpinned by its prudent management of resources, a strategic approach to growth, and an advantageous relationship with Diamondback. Viper Energy Partners LP's commitment to sustainable returns through increased dividends signals its confidence in maintaining this positive trajectory. With Viper Energy Partners LP's net oil volumes projected to rise by over 15% in 2023 and an additional 10% in 2024, the growth momentum seems set to continue. These factors, combined with their prudent repurchase program and an ever-improving balance sheet, position Viper Energy Partners LP as a compelling choice for investors seeking both stability and growth potential in the energy sector.

ViperEnergy Partners LP owns, acquires, and exploits oil and natural gas propertiesin North America. As of December 31, 2019, it had mineral interests in 24,304net royalty acres in the Permian Basin and Eagle Ford Shale with estimatedproved oil and natural gas reserves of 88,946 thousand barrels of crude oilequivalent. Viper Energy Partners GP LLC operates as the general partner of thecompany. ViperEnergy Partners LP was founded in 2013 and is based in Midland, Texas. ViperEnergy Partners LP operates as a subsidiary of Diamondback Energy, Inc.


Sector: Financial Services
Industry: Asset Management

The Bank of New York Mellon Corporation (BK) recently reported impressive second-quarter results, demonstrating a 5% YoY increase in total revenue to $4.45 billion, surpassing market expectations of $4.37 billion. Notably, THE BANK OF NEW YORK MELLON CORPORATION's net interest revenue surged by 33% to $1.1 billion, driven by higher interest rates, while fee revenue experienced a slight dip of 2% to $3.26 billion due to factors like lower foreign exchange revenue and THE BANK OF NEW YORK MELLON CORPORATION's Alcentra divestiture impact. THE BANK OF NEW YORK MELLON CORPORATION exhibited its commitment to shareholders by announcing a substantial 13.5% dividend increase, elevating the quarterly common stock dividend to $0.42 per share from the previous $0.37. This encouraging move signifies THE BANK OF NEW YORK MELLON CORPORATION's robust financial health and management's confidence in THE BANK OF NEW YORK MELLON CORPORATION's future prospects.

Several strategic factors have contributed to THE BANK OF NEW YORK MELLON CORPORATION's positive performance. The increase in net interest revenue is attributed to higher interest rates, effectively boosting earnings. The growth in securities services, market and wealth services, along with the promising reception of innovative solutions such as Pershing's Wove advisory platform, provides a favorable outlook for revenue expansion in the coming quarters. THE BANK OF NEW YORK MELLON CORPORATION's meticulous management of provisions for credit losses, despite some macroeconomic forecast changes, demonstrates prudent risk management. Additionally, with adjusted EPS at $1.38, a significant 20% YoY growth, THE BANK OF NEW YORK MELLON CORPORATION showcases its ability to generate strong returns for investors. With a forward-looking perspective, THE BANK OF NEW YORK MELLON CORPORATION remains well-positioned to capitalize on its strengths and continue delivering value to THE BANK OF NEW YORK MELLON CORPORATION's shareholders.

The Bank of New York Mellon Corporation offers a wide range of financial products and services globally, operating through two segments: Investment Management and Investment Services. THE BANK OF NEW YORK MELLON CORPORATION's Investment Services segment provides various services including custody, accounting, ETF services, private equity and real estate fund support, securities lending, data analytics, and more. THE BANK OF NEW YORK MELLON CORPORATION's Investment Management segment offers diverse investment strategies, wealth planning, and private banking. Founded in 1784, THE BANK OF NEW YORK MELLON CORPORATION serves a broad client base including asset managers, corporations, governments, and high net worth individuals.


Sector: Energy
Industry: Thermal Coal

Exciting news from Alliance Resource Partners, L.P. (ARLP)! Alliance Resource Partners, L.P. (ARLP)'s Board of Directors has just given the green light for a generous cash distribution to Alliance Resource Partners, L.P. (ARLP)'s unitholders for the second quarter of 2023. If you're an ARLP unitholder of record by August 7, 2023, you're in for a treat – a robust cash distribution of $0.70 per unit, marking an impressive 75% surge from the previous year's distribution of $0.40 per unit. This annualized rate of $2.80 per unit showcases Alliance Resource Partners, L.P. (ARLP)'s commitment to rewarding its investors handsomely.

But what's driving this remarkable increase? ARLP has been on a roll lately, consistently delivering solid financial performance. This upward trajectory is well-supported by the cash distribution of $0.70 per unit for the first quarter of 2023, reflecting a strong and stable growth pattern. Notably, ARLP will also be sharing its financial results for the second quarter on July 31, 2023, shedding more light on the strategic moves behind this impressive dividend boost. Investors and stakeholders are invited to join the conference call on the same day at 10:00 a.m. Eastern to gain insights straight from ARLP's management.

All in all, ARLP's substantial dividend increase is a testament to its robust financial health and strategic prowess. If you're looking to invest in a company that's not only thriving but also rewarding its investors generously, ARLP might just be the winning choice. Keep an eye out for their upcoming financial results to delve deeper into the exciting journey of Alliance Resource Partners, L.P. (ARLP).

Alliance Resource Partners, L.P. (ARLP), a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. Alliance Resource Partners, L.P. operates through three segments: Illinois Basin, Appalachia, and Minerals. It produces a range of thermal and metallurgical coal with sulfur and heat contents. Alliance Resource Partners, L.P. operates seven underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia. It also leases land and operates a coal loading terminal on the Ohio River at Mt. Vernon, Indiana; and buys and resells coal, as well as owns interests in various oil and gas mineral interests located within producing basins in the continental United States. In addition, Alliance Resource Partners, L.P. offers various industrial and mining technology products and services, such as miner and equipment tracking systems, and proximity detection systems. As of December 31, 2019, it had approximately 1.69 billion tons of proven and probable coal reserves in Illinois, Indiana, Kentucky, Maryland, Pennsylvania, and West Virginia. Alliance Resource Management GP, LLC serves as the general partner of Alliance Resource Partners, L.P.. Alliance Resource Partners, L.P. was founded in 1971 and is headquartered in Tulsa, Oklahoma.


Sector: Energy
Industry: Oil & Gas Equipment & Services

Archrock, Inc. (AROC) has just revealed a promising trajectory for Archrock, Inc. investors with a noteworthy surge in Archrock, Inc.'s quarterly dividend. The recent declaration unveils a significant increase, reaching $0.155 per share of common stock for Archrock, Inc., translating to an annualized sum of $0.62 per share. Archrock, Inc. shareholders can anticipate the dividend's arrival on August 15, 2023, provided they held stock on record as of August 8, 2023.

Impressively, this upward adjustment signifies a 3 percent augmentation compared to Archrock, Inc.'s Q1 2023 dividend, and an even more remarkable 7 percent spike when contrasted with Archrock, Inc.'s Q2 2022 dividend level. Archrock, Inc.'s growth-oriented approach shines through as this marks the second dividend raise in 2023. Brad Childers, the President and Chief Executive Officer of Archrock, Inc., emphasized Archrock, Inc.'s dedication to fostering enduring value and rewarding Archrock, Inc.'s investors. He underscored Archrock, Inc.'s commitment to a competitive, steadily increasing dividend that aligns with Archrock, Inc.'s capital allocation strategy.

This surge in dividend not only reflects Archrock, Inc.'s strong performance but also echoes Archrock, Inc.'s commitment to Archrock, Inc.'s shareholders. The upcoming second quarter earnings call promises to provide an in-depth assessment of Archrock, Inc.'s progress and capital allocation prowess, allowing Archrock, Inc.'s investors to stay attuned to Archrock, Inc.'s promising journey ahead. As Archrock, Inc. continues to navigate the market with resilience and strategic focus, Archrock, Inc.'s dividend prospects appear to be on an upward trajectory, instilling confidence in Archrock, Inc.'s investors about the potential for sustainable long-term growth.

Archrock, Inc. operates as a midstream energy infrastructure company in the United States. It operates in two segments, Contract Operations and Aftermarket Services. Archrock, Inc. offers natural gas compression services to customers in the oil and natural gas industry. Archrock, Inc. also provides various aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment. Archrock, Inc. was formerly known as Exterran Holdings, Inc. and changed its name to Archrock, Inc. in November 2015. Archrock, Inc. was founded in 1990 and is headquartered in Houston, Texas.


Sector: Consumer Defensive
Industry: Confectioners

Mondelez International, Inc., a global snacks and confectionery company, has announced its Q2 2023 results with remarkable growth. Mondelez International, Inc. experienced a significant 17.0% increase in net revenues, driven by a robust Organic Net Revenue growth of 15.8%, supported by strong Volume/Mix performance in three of its four regions. This performance has led to a 27.8% rise in Diluted EPS and a 21.5% increase in Adjusted EPS on a constant currency basis. Mondelez International, Inc.'s commitment to reinvestment in brands, price execution, and cost discipline, along with favorable volume/mix outcomes, played a pivotal role in achieving these results.

Chairman and CEO, Dirk Van de Put, highlighted Mondelez International, Inc.'s successful execution across regions and categories, showcasing a solid top-line growth that underscores its focus on sustained expansion. This momentum has driven Mondelez International, Inc. to increase its quarterly dividend by 10%, reflecting Mondelez International's confidence in its performance and future prospects. Furthermore, Mondelez International, Inc. has raised its outlook for both Organic Net Revenue and Adjusted EPS growth to over 12%, a testament to its strong performance during the first half of the year.

This growth was primarily fueled by several factors, including incremental sales from recent acquisitions and favorable pricing trends. Despite challenges such as unfavorable currency impacts, Mondelez International, Inc.'s strategic initiatives, efficient cost management, and a positive response from consumers have enabled it to achieve exceptional results. This trajectory, coupled with its confidence in continued demand and resilience, bodes well for Mondelez International, Inc.'s future dividend prospects and overall growth outlook.

Mondelez International, Inc., through its subsidiaries, manufactures, markets, and sells snack food and beverage products worldwide. It offers biscuits, including cookies, crackers, and salted snacks; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products. Mondelez International, Inc.'s snack brand portfolio includes Cadbury, Milka, and Toblerone chocolates; Oreo, belVita, and LU biscuits; Halls candies; and Trident gums and Tang powdered beverages. It serves supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores, gasoline stations, drug stores, value stores, and other retail food outlets through direct store delivery, company-owned and satellite warehouses, distribution centers, and other facilities, as well as through independent sales offices and agents, and e-commerce platforms. Mondelez International was formerly known as Kraft Foods Inc. and changed its name to Mondelez International, Inc. in October 2012. Mondelez International, Inc. was incorporated in 2000 and is headquartered in Chicago, Illinois.


Sector: Financial Services
Industry: Banks—Regional

ACNB Corporation, a notable financial holding company encompassing ACNB Bank and ACNB Insurance Services, Inc., has exciting news for ACNB CORPORATION investors. ACNB CORPORATION recently announced a remarkable 7.7% increase in ACNB CORPORATION's regular quarterly cash dividend, bringing the payout to $0.28 per share of ACNB CORPORATION common stock. This dividend surge marks a positive move that aims to reward ACNB CORPORATION shareholders. The decision to boost the dividend by 7.7% underscores ACNB CORPORATION's commitment to sharing ACNB CORPORATION's success with ACNB CORPORATION's investors, reflecting ACNB CORPORATION's strong financial performance over the past year.

This dividend increment follows a trend of consistent growth in dividends, underlining ACNB CORPORATION's dedication to providing value to ACNB CORPORATION's shareholders. With an impressive aggregate dividend payment of around $2.4 million projected for the third quarter of 2023 alone, this move signifies ACNB CORPORATION's strong financial position and ACNB CORPORATION's optimistic outlook for the future. Moreover, the year-to-date dividends of $0.84 per common share translate to a substantial aggregate payout of over $7.2 million for shareholders throughout the first three quarters of 2023. ACNB CORPORATION's steady dividend growth is a testament to ACNB CORPORATION's solid business strategy, financial stability, and dedication to enhancing shareholder value.

ACNB Corp. is a holding company. ACNB CORPORATION is headquartered in Gettysburg, Pennsylvania and currently employs 361 full-time employees. ACNB CORPORATION's banking operations are conducted through ACNB CORPORATION's operating subsidiary, ACNB Bank (the Bank), and offers a range of property and casualty, life and health insurance to both commercial and individual clients through ACNB CORPORATION's subsidiary, Russell Insurance Group, Inc. (RIG). ACNB CORPORATION has two segments: the Bank and RIG. RIG is managed separately from the banking segment, which includes the Bank and related financial services that ACNB CORPORATION offers through ACNB CORPORATION's banking subsidiary. Through ACNB CORPORATION's banking and nonbanking subsidiaries, ACNB CORPORATION provides a range of banking and financial services to individuals and businesses, including commercial and retail banking, trust and investment management, and insurance. ACNB Bank is a commercial bank. ACNB Bank's service delivery channels for ACNB CORPORATION's customers include the automated teller machine (ATM) network, customer contact center, online, telephone and mobile banking.


Sector: Energy
Industry: Oil & Gas Midstream

DLPL: DELEK LOGISTICS PARTNERS, LP (DLPL) has announced an enhanced quarterly cash distribution for Q2 2023, amounting to $1.035 per common limited partner unit, translating to an annualized rate of $4.14. This marks a notable 1.0 percent uptick from the previous quarter's distribution of $1.025 per unit ($4.10 annualized) and an impressive 5.1 percent surge compared to Q2 2022's distribution of $0.985 per unit ($3.94 annualized). The upcoming distribution, scheduled for payment on August 14, 2023, to unitholders of record by August 7, 2023, aligns with DLPL's dedication to value creation for its investors.

This dividend augmentation underscores DLPL's ongoing commitment to delivering solid returns to its investors. The decision to elevate the dividend is supported by DELEK LOGISTICS PARTNERS, LP's steady growth trajectory, evidenced by consistent increases in distribution figures over the years. Bolstered by robust performance in the energy sector and an encouraging financial outlook, DLPL is well-positioned to provide sustained dividend growth in the future. With an astute focus on expanding its market presence and optimizing operational efficiency, DLPL holds promising prospects, making it an intriguing option for investors seeking both capital appreciation and reliable dividend income.

DLPL owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment includes pipelines, trucks, and ancillary assets that provide crude oil gathering, crude oil intermediate and finished products transportation, and storage services primarily in support of the Tyler, El Dorado, and Big Spring refineries, as well as offers crude oil and other products transportation services to third parties. This segment operates approximately 700 miles of the crude oil gathering system. The Wholesale Marketing and Terminalling segment provides wholesale marketing, transporting, storage, and terminalling services related to refined products to independent third parties. DLPL GP, LLC serves as the general partner ofDELEK LOGISTICS PARTNERS, LP. DLPL was founded in 2012 and is headquartered in Brentwood, Tennessee. DLPL is a subsidiary of Delek US Holdings, Inc.


Sector: Industrials
Industry: Rental & Leasing Services

Ryder System, Inc., a trailblazer in supply chain, transportation, and fleet management, recently announced a noteworthy stride in its financial strategy. The firm's Board of Directors sanctioned a surge in Ryder System, Inc.'s regular quarterly cash dividend, elevating it to $0.71 per common stock share. This move, an uptick of $0.09 from the previous $0.62 dividend maintained since July 2022, showcases Ryder System, Inc.'s commitment to its shareholders.

This dividend augmentation comes on the heels of Ryder System, Inc.'s impressive track record - an unbroken chain of 188 consecutive quarterly cash dividends spanning over four and a half decades. The timing of this increment seems aligned with Ryder System, Inc.'s pursuit of enhanced value creation and capital appreciation. Ryder System, Inc.'s robust performance in supply chain solutions, coupled with its dedicated transportation and fleet management prowess, might have been instrumental in fostering the confidence needed for such a positive dividend adjustment. As Ryder System, Inc. continues to navigate the evolving landscape of logistics, this dividend boost could symbolize not just financial rewards, but also a testament to its enduring stability and strategic growth.

Ryder System, Inc. is a global provider of transportation and supply chain solutions, operating across three main segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers leasing, maintenance, and operational support for vehicles, including fuel services and used vehicle sales. The DTS segment provides comprehensive equipment, drivers, and technical support, while the SCS segment specializes in distribution management, warehousing, transportation coordination, and value-added services. Founded in 1933 and headquartered in Miami, Florida, Ryder System, Inc. serves a wide range of industries worldwide.


Sector: Industrials
Industry: Farm & Heavy Construction Machinery

Lindsay Corporation (NYSE: LNN), a prominent global player in the irrigation and infrastructure equipment sector, has just made an enticing move for LINDSAY CORPORATION investors. LINDSAY CORPORATION's Board of Directors recently approved a significant boost in LINDSAY CORPORATION's regular quarterly cash dividend, demonstrating LINDSAY CORPORATION's commitment to delivering value to shareholders. The newly declared dividend of $0.35 per share, up from $0.34, marks a noteworthy three percent increase. This elevates the annual indicated rate to $1.40 per share, reflecting an upward shift from the previous $1.36 per share.

Behind this dividend increment lies a strategy rooted in LINDSAY CORPORATION's strong performance and growth trajectory. With a history of innovation and a wide-reaching distribution network, LINDSAY CORPORATION has solidified its position as a go-to choice in the industry. The decision to enhance dividends is further bolstered by recent positive developments within LINDSAY CORPORATION, including expanded market presence and consistent revenue streams. Investors can find confidence in LINDSAY CORPORATION's sustained efforts to generate value, coupled with LINDSAY CORPORATION's robust financial standing as indicated by the increased dividend. As of now, LINDSAY CORPORATION, trading under the symbol LNN on the NYSE, possesses around 11.0 million shares outstanding, reinforcing its status as an intriguing prospect for those eyeing dividend stability and growth.

LINDSAY CORPORATION and LINDSAY CORPORATION's subsidiaries specialize in water management and road infrastructure solutions globally. With two main segments, Irrigation and Infrastructure, LINDSAY CORPORATION produces Zimmatic branded irrigation systems, including pivot and lateral move systems, alongside Perrot and Greenfield branded hose reel travelers, and GrowSmart branded irrigation technology. LINDSAY CORPORATION's offerings extend to barrier systems, crash cushions, road safety equipment, and railroad signals in the Infrastructure sector. Serving a wide range of clients, LINDSAY CORPORATION has been a prominent figure since LINDSAY CORPORATION's establishment in 1954, headquartered in Omaha, Nebraska.


Sector: Industrials
Industry: Farm & Heavy Construction Machinery

Terex Corporation (TEX), a leading player in the industrial machinery sector, has made a substantial move by announcing a remarkable 13% boost in Terex Corporation's quarterly dividend, setting it at an impressive $0.17 per share. This follows a prior increase of 15% in February earlier this year, collectively raising Terex Corporation's dividend by a substantial 31%. The driving force behind this decision, as articulated by Terex Corporation's Chairman and CEO, John L. Garrison, Jr., is the unwavering belief in Terex Corporation's robust financial standing and its promising trajectory for future growth.

With the dividend set to be disbursed on September 19, 2023, to stockholders on record as of August 14, 2023, Terex Corporation is clearly demonstrating its commitment to sharing its success with its investors. This dividend escalation underscores Terex Corporation's strong performance and steady expansion, instilling confidence not only in its current shareholders but also in potential investors eyeing a resilient player in the industrial sector. This strategic move paints a positive picture of Terex Corporation's outlook, enticing investors with the prospect of sustained value appreciation in the foreseeable future.

Terex Corporation, founded in 1986 and headquartered in Westport, Connecticut, is a global leader in manufacturing and distributing a diverse range of equipment for construction, infrastructure, and industrial applications. Operating through its Aerial Work Platforms (AWP) and Material Processing (MP) segments, Terex Corporation offers a comprehensive portfolio of products under brands like Terex, Genie, Powerscreen, Fuchs, and more. Their offerings encompass aerial work platforms, utility equipment, specialty machinery, cranes, crushers, material handlers, and concrete equipment, catering to industries such as construction, mining, recycling, and landscaping. Terex Corporation also provides financing solutions to facilitate product acquisition for its worldwide clientele, supporting their equipment rental, leasing, and purchasing needs.


Sector: Consumer Cyclical
Industry: Residential Construction

KB Home (KBH) recently made a significant stride by elevating its quarterly cash dividend for common stock from $.15 to $.20 per share, marking a remarkable 33% surge. This move has established an annualized dividend rate of $.80 per share, translating to an approximate yield of 1.5%, gauged against the closing price of KB Home's common stock on July 13, 2023. This announcement comes alongside the declaration that the upcoming quarterly cash dividend at the $.20 per share rate will be disbursed on August 17, 2023, to stockholders on record as of August 3, 2023.

The decision to amplify the dividend underscores KB Home's robust financial performance and growing operational cash flow. With a strategy that balances capital allocation and a solid financial foundation, KB Home is positioned to harness its expanding scale and profitability for enhanced cash generation. The move aligns with KB Home's emphasis on bolstering long-term shareholder value, further emphasized by the consistent dividend payouts over nearly 35 years. The increase resonates as a reflection of KB Home's commitment to value creation and prudent resource utilization. Jeffrey Mezger, the Chairman, President, and CEO of KB Home, highlighted KB Home's vision of allocating cash towards land acquisition, development, and returning value to stockholders, marking a strategic approach that bolsters confidence in KB Home's future prospects.

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. KB Home builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers. It also offers financial services, such as insurance products and title services. KB Home has operations in Arizona, California, Colorado, Florida, Nevada, North Carolina, Texas, and Washington. KB Home was formerly known as Kaufman and Broad Home Corporation and changed its name to KB Home in January 2001. KB Home was founded in 1957 and is headquartered in Los Angeles, California.


Sector: Consumer Cyclical
Industry: Residential Construction

M.D.C. Holdings, Inc. (MDC), a prominent player in the homebuilding sector, recently delighted its investors by unveiling a significant uptick in MDC's quarterly cash dividend. MDC's board of directors has greenlit a generous 10% surge in MDC's dividend, propelling it from $0.50 to $0.55 per share on MDC's common stock. This lucrative dividend boost underlines MDC's commitment to delivering value to MDC's shareholders.

M.D.C. Holdings, Inc., through MDC's subsidiaries, engages in the homebuilding and financial service businesses. MDC's homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name. MDC conducts its homebuilding operations in Arizona, California, Nevada, Washington, Oregon, Colorado, Utah, Virginia, Maryland, and Florida. MDC's financial services operations comprise originating mortgage loans primarily for homebuyers; providing insurance coverage primarily to MDC's homebuilding subsidiaries and subcontractors for homes sold by MDC's homebuilding subsidiaries, and for work performed in completed subdivisions; acting as a re-insurer on the claims; selling third-party personal property and casualty insurance products to homebuyers; and offering title agency services to MDC's homebuilding subsidiaries and customers in Colorado, Florida, Maryland, Nevada, and Virginia. MDC was founded in 1972 and is headquartered in Denver, Colorado.


Sector: Basic Materials
Industry: Lumber & Wood Production

BOISE CASCADE COMPANY (BCC) has recently announced a substantial 33% increase in BOISE CASCADE COMPANY's quarterly dividend to $0.20 per share. This decision reflects BOISE CASCADE COMPANY's confidence in BOISE CASCADE COMPANY's financial strength and growth prospects. The enhanced dividend is set to benefit common stockholders and is scheduled for payment on September 15, 2023, to those on record as of September 1, 2023.

This noteworthy dividend boost underscores BOISE CASCADE COMPANY's commitment to delivering value to BOISE CASCADE COMPANY's shareholders. The decision to raise the dividend by $0.05 per share showcases the BOISE CASCADE COMPANY's positive outlook on BOISE CASCADE COMPANY's future operations, earnings, and overall financial well-being. Investors can rest assured that future dividend declarations will be driven by a careful assessment of various factors, including legal requirements, financial performance, cash needs, and compliance with credit facility terms. This move not only strengthens investor confidence but also highlights BOISE CASCADE COMPANY's dedication to sustainable growth and shareholder returns.

BOISE CASCADE COMPANY manufactures wood products and distributes building materials in the United States and Canada. It operates in two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; and structural, appearance, and industrial plywood panels. This segment's products are used in new residential construction, residential repair-and-remodeling projects, light commercial construction, and industrial applications. It sells its products to wholesalers, home improvement centers, retail lumberyards, and industrial converters. The Building Materials Distribution segment distributes a line of building materials, including oriented strand boards, plywood, and lumber; general line items, such as siding, composite decking, doors, metal products, insulation, and roofing; and engineered wood products. This segment sells its products to retail lumberyards, home improvement centers, and specialty distributors. BOISE CASCADE COMPANY was founded in 2004 and is headquartered in Boise, Idaho.

All data was sourced from LevelFields AI

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