Dividend Announcement Roundup

So many headlines were packed into the holiday-shortened week that I was forced to skip over some important announcements from dividend-paying companies, namely some diminutive dividend increases. Below is a rundown of items income investors may want to take note of.

1st Source Corporation (SRCE) maintained its quarterly dividend of $0.16 per share. While technically not a dividend increase, the news is still notable because it marks the fist time the bank holding company has managed to maintain a payout this high for two consecutive quarters. Shares of SRCE closed at $18.50 on Friday, where they yield 3.46%.

ALLETE, Inc. (ALE) raised its quarterly dividend by 1.1% to $0.445 per share. The half-penny increase represents the first dividend hike from the midwest energy company in two years. Shares of ALE closed Friday trading at $37.24, where they now feature a 4.78% dividend yield.

Bar Harbor Bankshares (BHB) increased its quarterly dividend by 1.9% to $0.17 per share. This is the second consecutive quarter the bank holding company has raised its dividend by a half-penny. Shares of BHB closed at $29.77 on Friday, where they now feature a 3.63% dividend yield.

CenterPoint Energy, Inc. (CNP) raised its quarterly dividend by 1.3% to $0.1975 per share. This is the sixth consecutive year the energy delivery company has raised its dividend. Shares of CNP closed Friday trading at $15.90, where they now carry a 4.97% dividend yield.

City National Corporation (CYN) doubled its quarterly dividend to $0.20 per share. Although this is a two-year high point for the bank holding company’s payout, it still sits well below its 2008 peak of $0.48 per share. Shares of CYN closed at $59.37 on Friday, where they now feature a 1.35% dividend yield.

Crosstex Energy, L.P. (XTEX) raised its quarterly distribution by 4% to $0.26 per unit. The midstream energy company reinstated its quarterly payout at the end of last year. XTEX ended Friday’s session trading at $14.56, where it now yields 7.14%.

Crosstex Energy, Inc. (XTXI) increased its quarterly dividend by 14% to $0.08 per share. The corporation owns the two percent general partner interest, a 25 percent limited partner interest, and the incentive distribution rights of Crosstex Energy, L.P.. Shares of XTXI closed Friday trading at $8.41, where they now carry a 3.80% dividend yield.

First Commonwealth Financial (FCF) tripled its quarterly dividend to $0.03 per share. The financial holding company’s payout has hovered within the $0.01 to $0.03 per share range for the last seven quarters, far from its 2008 peak of $0.17 per share. Shares of FCF closed at $19.20 on Friday, where they now carry a 1.72% dividend yield.

Navios Maritime Partners L.P. (NMM) increased its quarterly distribution by 2.4% to $0.43 per unit. The partnership has now raised its distribution for five of the last six quarters. NMM closed at $19.20 on Friday, where it now yields 8.96%.

Nordion Inc. (NDZ) initiated a quarterly dividend of $0.10 per share. The health science company, formerly known as MDS Inc., is currently expected by analysts to earn $0.68 per share in 2012, giving it a forward payout ratio of 59% right off the bat. Shares of NDZ closed Friday trading at $10.85 on Friday, where they carry a shiny new 3.69% dividend yield.

Sentient Technologies Corporation (SXT) boosted its quarterly dividend by 5% to $0.21 per share. This is the second dividend hike in the last year from the company, which has no improved its dividend rate by 40% in the last five years. Shares of SXT ended the week trading at $35.29, where they now carry a 2.38% dividend yield.

StoneMor Partners L.P. (STON) raised its quarterly dividend by 1.8% to $0.575 per share. This is the second consecutive quarter the cemetery operating company has raised its dividend. Shares of STON ended Friday trading at $32.08, where they now carry a 7.17% dividend yield.

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