NEW YORK – One-third more S&P 500 companies boosted dividends in the second quarter compared to a year earlier, with record dividend payouts of $124 billion declared overall. Tax reform, positive earnings and results from a second round of the Federal Reserve stress tests contributed to 89 S&P 500 companies boosting dividends in the second quarter versus 67 firms a year ago.
Dividends highlights:
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- Citrix Systems declared a dividend the first time, with a payout of 35 cents
- Lam Research, Hewlett Packard Enterprise, Wynn Resorts, Ralph Lauren and Starbucks were among firms that accelerated dividend payouts
- Pentair and Scana announced dividend cuts
- Dr. Pepper Snapple announced special dividend of $103.75 due to merger activity
- 43 companies retained the ’aristocrat’ status of 25 years of consecutively increasing dividends yearly
- Bloomberg estimates that an additional 75 companies will boost dividend payments this quarter
Wendy Soong is a reporter for Bloomberg News.
