2 Companies That Raised Their Dividends This Week - Barron's

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Constellation Brands, which produces Corona beer, raised its dividend this week.

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Constellation Brands and Levi Strauss declared dividend increases this week.

And several other companies, including Lennar and Automatic Data Processing, said they would maintain their payouts at current levels.

Constellation Brands (ticker: STZ) declared a quarterly dividend of 76 cents a share on its class A common stock, up from 75 cents. The company makes and distributes beer, wine, and spirits. Its brands include Corona and Modelo.

The stock, which yields 1.4%, has a one-year return of about 35%.

Levi Strauss (LEVI) declared a quarterly disbursement of 6 cents a share, up from 4 cents previously.

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The apparel company’s stock, which has a one-year return of about 90%, yields 0.5%.

Several companies are keeping their payouts at current levels. Homebuilder Lennar (LEN) declared a quarterly dividend of 25 cents a share, and Automatic Data Processing (ADP) is keeping its quarterly disbursement at 93 cents a share.

In other news, Credit Suisse Group (CSGN.Switzerland) plans to cut its dividend, owing to the fallout from its exposure to hedge fund Archegos Capital Management. The company took a $4.7 billion hit, according to The Wall Street Journal.

In a news release dated April 6, the Zurich-based company said that “following the U.S.-based hedge fund matter,” its board of directors was “proposing to distribute a reduced ordinary total dividend of 0.10 gross [Swiss franc] per registered share.”

Write to Lawrence C. Strauss at lawrence.strauss@barrons.com

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