Discover the consumer defensive stocks with the biggest dividend increases last quarter, Q1 2023
Dividends
June 25, 2023
Turning Point Brands, Inc. (TPB), a leading manufacturer, marketer, and distributor of branded consumer products, recently announced a significant boost in their regular quarterly dividend. The Board of Directors approved a dividend increase of 8%, raising it to $0.065 per common share. This decision reflects Turning Point Brands's commitment to rewarding shareholders and signifies their confidence in Turning Point Brands's financial performance. Recent developments and news have contributed to this dividend increase, including TPB's strong sales growth and expanding market presence in the alternative smoking accessories and consumables sector.
Inter Parfums, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2022. Inter Parfums experienced growth, with a 47% increase in net sales for the fourth quarter and a 24% increase for the full year. The strong performance was driven by sales growth in all regions, including North America, Western Europe, Asia, the Middle East, and Latin America. Despite challenges such as the armed conflict in Ukraine and sanctions on Russia, Inter Parfums still achieved modest sales growth in Eastern Europe. Inter Parfums's European operations saw growth in constant currency and benefited from the success of major brands like Montblanc, Jimmy Choo, and Coach, which all experienced double-digit growth. Additionally, Inter Parfums expanded its portfolio with new products and brand extensions planned for 2023, further fueling its positive outlook. As a result of its successful performance and confidence in future prospects, Inter Parfums increased its dividend rate by 25% to $2.50 per share.
Church & Dwight Co., Inc. (CHD) announced a 4% increase in its quarterly dividend, raising it from $0.2625 to $0.2725 per share. This decision reflects Church & Dwight Co's commitment to providing benefits to its stockholders based on its strong cash generation and confidence in future performance. Despite a decline in reported EPS for the full year, Church & Dwight experienced a 3.6% increase in net sales, exceeding expectations. Church & Dwight Co's organic sales also grew by 1.4%, driven by positive pricing, though volume declined. Recent acquisitions, such as ZICAM®, THERABREATH®, and HERO®, contributed to consumption growth and market share gains. While the discretionary brands and vitamin business faced challenges, Church & Dwight anticipates a return to modest growth in these categories. With a focus on expanding marketing spending and investing in its laundry and litter businesses, Church & Dwight Co expects another year of strong cash flow. This dividend increase marks the 27th consecutive year of dividend growth for Church & Dwight, emphasizing its long-standing commitment to stockholders.
SpartanNash, a leading food solutions company, recently announced a 2.4% increase in its quarterly cash dividend, raising it to $0.215 per common share, effective from March 1, 2023. This decision reflects SpartanNash's commitment to rewarding its shareholders and highlights its confidence in its financial performance. The dividend payout, scheduled for March 31, 2023, will be distributed to shareholders recorded as of the close of business on March 17, 2023. With 35,061,566 common shares outstanding as of February 28, 2023, SpartanNash's dividend increase demonstrates its dedication to delivering value and showcases positive prospects for its stock and dividend growth.
Flowers Foods, Inc. (FLO) recently revealed a positive development for its shareholders. Flowers Foods's board of directors has declared a quarterly dividend of $0.22 per share, representing a 4.8% increase compared to the same quarter last year. This marks the 82nd consecutive quarterly dividend paid by Flowers Foods. The dividend payment is scheduled for March 17, 2023, and will be distributed to shareholders of record as of March 3, 2023. The decision to raise the dividend likely stems from Flowers Foods's strong financial performance and its commitment to providing value to its investors. Flowers Foods has likely experienced growth or generated significant cash flow, enabling them to reward shareholders with an increased dividend.
Lancaster Colony Corporation (LANC) recently announced an increased quarterly cash dividend of 85 cents per common share, maintaining the higher level set three months ago. This marks Lancaster Colony's 60th consecutive year of increased regular cash dividends, making it one of only 13 U.S. companies with such an impressive record. The decision to increase the dividend reflects Lancaster Colony's strong financial position, as highlighted by CEO David A. Ciesinski. With the indicated annual payout for the current fiscal year ending June 30, 2023, set at $3.35 per share, up from $3.15 per share in fiscal 2022, Lancaster Colony is demonstrating its commitment to delivering value to shareholders.
Data extracted from Dividend Increase
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