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A large industrial conglomerate and an exploration and production company both announced an increase in dividends on August 2.
EOG Resources (EOG), a Houston-based oil and gas company, declared a quarterly dividend of 22 cents per share, up 19 percent from 18.5 cents previously. The stock has posted a 38% return over the past year, thanks to rising energy prices.
The stock recently posted a return of 0.6%.
Dover (DOV), a conglomerate whose activities include energy and commercial refrigeration, announced that it would increase its quarterly dividend by 48 cents per share. This is an increase of 2%.
The stock, which posted a return of 19.7% in the last 12 months, returned 2.3%. The company has increased its dividend in cash for 63 consecutive years.
EOG Resources and Dover are both members of the S & P 500. The average return of the index is 1.9%.
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