Speaking Of Dividends 11-01-2008
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Date updated:11-01-2008

Here is a list of companies that have recently had notable dividend activity.

symbol name last price % change open
  • +
  • ARLP
    Alliance Resource
  • $38.68
  • -0.31%
  • $39.13

Based in Tulsa, Okla., Alliance (ARLP) is a master limited partnership that produces and markets coal to U.S. utilities and industrial users. Coal is selling at record prices, demand is up and exports are growing -- trends that are expected to continue through 2009. Some concerns that cloud coal's future, however, include increased regulatory pressures, permit challenges and tight credit markets, not to mention the slowing global economy. Alliance boosted its quarterly common payout last Monday for the third time this year, to 70 cents per unit from 66 cents (it paid 58.5 cents in the March and June quarters). That gives the stock a 9% yield. Holders of record Nov. 7 will receive the new distribution Nov. 14. The ex-dividend date is Nov. 5. Payouts have been ongoing since 1999 and on the rise since 2003.

People owning ARLP also tend to own: AMLNARDAUA.VBQICHX.VCNQCOP

TheStreet.com Rating: B What is this?

  • +
  • AHGP
    Alliance Holdings
  • $24.14
  • -0.58%
  • $24.34

Alliance Holdings (AHGP) is the general partner to Alliance Resource Partners and acts like a tracking stock. It, too, sweetened its dividend for the third time this year. The new rate is 39 cents per unit, versus 35.25 cents (and 28.75 in the first two quarters of '08), for an 8% yield. The respective payment, record and ex dates are Nov. 19, Nov. 12 and Nov. 7. The partnership's distribution is based on what it will garner from its ownership interests in Alliance Resource Partners. Alliance Holdings trades around 20, double its 52-week low a month ago. Its 52-week high is 31.

People owning AHGP also tend to own: AAPLBGCSXMOPHOPOTSIRI

TheStreet.com Rating: B What is this?

  • +
  • STI
    Suntrust Banks
  • $22.80
  • +2.01%
  • $22.84

Two more banks that have received preliminary approval to tap into the Capital Purchase Program of the Emergency Economic Stabilization Act of 2008 are SunTrust Banks (STI) and Zions Bancorp (ZION). Last week, both slashed their quarterly common dividends in order to conserve funds. With total assets of $174.8 billion and total deposits of $115.9 billion, Atlanta-based SunTrust is one of the nation's largest banking organizations. It has applied to sell $3.5 billion in preferred stock and related warrants to the Treasury. SunTrust cut its payout by 30%, to 54 cents a share from 77 cents, effective this quarter (specific dates are not yet set). That gives the stock a 5.5% yield. Dividends have been paid since 1985. Chief Executive James M. Wells III said SunTrust's participation in the government's program "enhances [its] already solid capital position and will permit us to further expand our business and take advantage of growth opportunities." He also said that while SunTrust doesn't have a "deep need" for capital, "the level of economic uncertainty" makes it prudent to take it.

People owning STI also tend to own: COFFICCDEODHTFCXHONHQL

TheStreet.com Rating: D What is this?

  • +
  • ZION
    Zions Bancorporat
  • $13.06
  • +3.73%
  • $12.99

Two more banks that have received preliminary approval to tap into the Capital Purchase Program of the Emergency Economic Stabilization Act of 2008 are SunTrust Banks (STI) and Zions Bancorp (ZION). Last week, both slashed their quarterly common dividends in order to conserve funds. Salt Lake City-based Zions, with assets of $54.3 billion and deposits of $37.3 billion, is in line to receive $1.4 billion in taxpayer funds. Commented CEO Harris H. Simmons: "As a strong regional bank with a major focus on financing small and middle-market businesses, we are pleased to have this additional capital to better serve the lending needs of customers." Zions reduced its quarterly by 26%, to 32 cents a share from 43 cents, payable Nov. 19 to stock of record Nov. 5. The ex-dividend date is Nov. 3. Yield: 3.5%. Zions has paid dividends without interruption since 1966.

People owning ZION also tend to own: ASHATGBACCBMNINFBNI

TheStreet.com Rating: D What is this?

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