EOG Resources and Dover Hike Their Dividends
A large industrial conglomerate and an exploration-and-production firm both announced dividend hikes on Aug. 2.
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EOG Resources (EOG), a Houston-based E&P company that produces oil and gas, declared a quarterly dividend of 22 cents a share, up 19% from 18.5 cents previously. The stock has returned 38% over the past year, helped by rising energy prices.
The stock was recently yielding 0.6%.
Dover (DOV), a conglomerate whose businesses include energy and commercial refrigeration, announced it will raise its quarterly dividend by a penny to 48 cents a share. That’s a 2% hike.
The stock, which has returned 19.7% over the past 12 months, yields 2.3%. The company has increased its cash dividend for 63 straight years.
Both EOG Resources and Dover are members of the S&P 500. The index’s average yield is 1.9%.
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