EOG Resources and Dover Hike Their Dividends

Text size

A large industrial conglomerate and an exploration-and-production firm both announced dividend hikes on Aug. 2.

Drew Angerer/Getty Images

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%.
Sign up to Review & Preview, a new daily email from Barron’s. Every evening we’ll review the news that moved markets during the day and look ahead to what it means for your portfolio in the morning. 

Source link