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From Tom Dyson, editor, The Palm Beach Letter: 2015 marks the 29th year in a row this company’s increased its dividend. We’re now up over 64% in this position.
On October 30, Tompkins Financial Corp. (NYSE: TMP) raised its quarterly dividend from 42 cents to 44 cents per share—a 4.8% bump.
This ensures TMP keeps its spot on the “Dividend Aristocrat” list—a select group of stocks that have increased their dividends for 25-plus years straight.
The majority of the Dividend Aristocrats consist of mega-cap companies most people know (and own)—names like Procter & Gamble, Coca-Cola, and Johnson & Johnson.
Tompkins is one of the smaller-cap stocks ($875 million market cap) to make this esteemed list.
And Tompkins is holding its own—not only in dividends, but in its overall stock performance…
TMP’s returns (since our July 2011 issue) outperformed other Dividend Aristocrats with similar dividend-raising streaks.
Telecom giant AT&T is up 32%… investment firm T. Rowe Price is up 43%… and energy titan Chevron is down 14%. But our tiny bank—based in New York and Pennsylvania—is up 64%.
Since we recommended it, Tompkins is also beating the Russell 2000 Index (the main yardstick for small stocks): 64% versus 40%.
If you own this outperforming dividend champion, continue to hold. Sit back and collect your ever-increasing dividend checks.
If you missed out—TMP is well above its “buyable” price—two similar companies in the PBL portfolio are hovering right around “buyable” prices. Current subscribers can click here to view them in the November PBL update.