And while Walgreen Company (NYSE:WAG)’s rising dividend made the biggest headlines, we also got news that fellow IPIG pick CSX Corporation (NYSE:CSX) will keep its dividend steady at $0.15. That’s the company’s second dividend at that level after a previous rise from $0.14, and it means CSX Corporation (NYSE:CSX) is delivering income as well as its freight.
And while nothing has been made public yet, the chances are fairly decent that pipeline giant Kinder Morgan Inc (NYSE:KMI) could announce a higher dividend in the upcoming week. From a timing perspective, next week marks the anniversary of the company’s July 2012 dividend announcement. From a cash amount perspective, back in May, the company projected a total of $1.60 in dividends per share for 2013.
With two quarterly dividends already paid, the company has shelled out only $0.75 per share so far this year, with dividends of $0.37 and $0.38 for the first two quarters. To hit the $1.60 target, the last two dividends of the year need to average $0.425, suggesting that a raise may well come with the next announcement.
Money still talks
All told, the market’s general benevolence probably drove a substantial portion of the IPIG portfolio’s gain this past week. Still, given that both the top gainer and the biggest loser on the week had relevant financial news that supported their moves, it looks as if the market is at least somewhat paying attention to fundamentals.
Here’s how the portfolio finished up on Friday:
| Company Name | Purchase Date | No. of Shares | Total Investment (Including Commissions) | Current Value, July 12, 2013 |
|---|---|---|---|---|
| United Technologies | 12/10/2012 | 18 | $1,464.82 | $1,796.94 |
| Teva Pharmaceutical (NYSE:TEVA) | 12/12/2012 | 38 | $1,519.40 | $1,503.28 |
| J.M. Smucker | 12/13/2012 | 17 | $1,483.45 | $1,802.17 |
| Genuine Parts | 12/21/2012 | 23 | $1,476.47 | $1,955.69 |
| Mine Safety Appliances | 12/21/2012 | 36 | $1,504.96 | $1,814.76 |
| Microsoft | 12/26/2012 | 55 | $1,499.15 | $1,961.85 |
| Hasbro | 12/28/2012 | 43 | $1,520.60 | $2,048.52 |
| NV Energy | 12/31/2012 | 84 | $1,504.72 | $1,984.92 |
| United Parcel Service | 1/2/2013 | 20 | $1,524.00 | $1,722.40 |
| Walgreen | 1/4/2013 | 40 | $1,501.80 | $1,950.40 |
| Texas Instruments | 1/7/2013 | 47 | $1,515.70 | $1,762.03 |
| Union Pacific | 1/22/2013 | 6 | $805.42 | $964.50 |
| CSX | 1/22/2013 | 34 | $712.50 | $828.24 |
| McDonald’s | 1/24/2013 | 16 | $1,499.64 | $1,625.28 |
| Becton, Dickinson | 1/31/2013 | 18 | $1,518.64 | $1,836.18 |
| AFLAC | 2/5/2013 | 27 | $1,466.35 | $1,596.78 |
| Air Products & Chemicals | 2/11/2013 | 17 | $1,510.99 | $1,643.05 |
| Raytheon | 2/22/2013 | 27 | $1,473.91 | $1,875.69 |
| Emerson Electric | 4/3/2013 | 28 | $1,548.12 | $1,602.16 |
| Wells Fargo | 5/30/2013 | 37 | $1,525.48 | $1,577.31 |
| Kinder Morgan | 6/21/2013 | 42 | $1,518.37 | $1,682.94 |
| Cash | $271.01 | |||
Data from the iPIG portfolio’s brokerage account, as of July 12, 2013.
The article Is the Market Getting Frothy Again? originally appeared on Fool.com is written by Chuck Saletta.
Chuck Saletta owns shares of Aflac; Texas Instruments; Microsoft; McDonald’s; Genuine Parts; United Technologies; Wells Fargo; Teva Pharmaceutical Industries; Emerson Electric; Becton, Dickinson; Walgreen; Union Pacific; Hasbro; UPS; CSX; J.M. Smucker; Air Products & Chemicals; Mine Safety Appliances; NV Energy; Raytheon; and Kinder Morgan. The Motley Fool recommends Aflac; Becton, Dickinson; Emerson Electric; Hasbro; Kinder Morgan; McDonald’s; Mine Safety Appliances; UPS; and Wells Fargo and owns shares of Hasbro, Kinder Morgan, McDonald’s, Microsoft, Raytheon, and Wells Fargo.
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