Dividend Increase – Lorillard (LO)

Lorillard (LO), the third largest manufacturer of cigarettes in the U.S., announced yesterday a dividend increase of 12% from $0.55 to $0.615 per share.  The cash dividend is payable on March 10th to shareholders of record as of Feb. 28th.  This is the company’s 6th consecutive yearly increase since becoming public in 2008.

This is the 6th company in my portfolio to raise their dividend so far this year.

Since I own 130 shares, this will increase my yearly income by $33.80.

Comments

    • says

      Yeah it’s larger than I expected. I agree with you, over 10% is just icing on the cake. The only concern is a potential menthol ban but I’m really not that worried and I plan to keep it as a half position anyways.

      Take care!

  1. says

    That was a very nice increase from LO and tells me that management like the prospects of Blu e-cigs and that the menthol ban isn’t something to really be concerned about. It’s been a great last 2 weeks with several companies I own announcing increases. I think I’ve got one left that normally announces in February so I’ll be on the lookout for that one. I’m hoping for at least another 10% increase out of that one as well. EOG.

    • says

      PIP,

      It will be interesting to see how the e-cigs start to effect their bottom line. Feb. is good for me also in regards to announced increases. I’m still waiting on a couple more before the end of the month.

      Thanks for stopping by!

    • says

      My Dividend Pipeline,

      I agree with you. Anything over 10% is always great. I’ve love to see a double-digit increase from PM, especially since I have a larger stake in the company.

      Thanks for stopping by!

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