Espey Mfg. & Electronics last Monday declared a special dividend of $1.50 a share and hiked its common payout 14%. The new quarterly will be 20 cents a share, up from 17.5 cents, marking the ninth dividend enhancement since 2001 (payouts were omitted in September 1998 but resumed the following February). The stock split 2-for-1 in December 2005. Bonus dividends of a split-adjusted 25 cents were paid in 2003 and 2004. The stock yields 3.72%. Disbursement of the extra dividend and the new quarterly will be made on March 20 to investors on Espey's books March 6. The ex-dividend date is March 4.

Colgate-Palmolive now boasts 45 consecutive years of dividend enrichments, following an 11% boost Wednesday. The giant consumer-products company hiked its quarterly common payout to 40 cents a share from 36 cents. Stockholders of record April 24 will receive the new dividend May 15. The ex-date is April 22. Yield: 2.09%. Dividends have been paid without interruption since 1895. Chief Executive Ian M. Cook says the new payout "demonstrates the board's confidence in the continued strong and profitable growth of Colgate's global business, our cash-generation capabilities and our firm commitment to building value."

The stock market's 189-point surge last Monday largely stemmed from S&P's decision to maintain its top credit ratings on mortgage and bond insurers MBIA (MBI) and Ambac (ABK). The same day, MBIA suspended its quarterly common dividend. As reported in this space Jan. 14, MBIA slashed its payout 62%, to 13 cents a share from 34 cents, as part of a plan aimed at strengthening its capital to hold on to its crucial AAA rating. No dividends were paid at the 13-cent rate. MBIA said the payout elimination will save about $174 million a year. On Jan. 29, Ambac cut its quarterly to seven cents a share from 21 cents.

The stock market's 189-point surge last Monday largely stemmed from S&P's decision to maintain its top credit ratings on mortgage and bond insurers MBIA (MBI) and Ambac (ABK). The same day, MBIA suspended its quarterly common dividend. As reported in this space Jan. 14, MBIA slashed its payout 62%, to 13 cents a share from 34 cents, as part of a plan aimed at strengthening its capital to hold on to its crucial AAA rating. No dividends were paid at the 13-cent rate. MBIA said the payout elimination will save about $174 million a year. On Jan. 29, Ambac cut its quarterly to seven cents a share from 21 cents.