Albany International – Today’s Dividend Increase For Wednesday, May 30th
Is it the calm before the “storm” of a mass of dividend increases in June? I don’t know, but today was a slow day with just Albany International announcing a dividend increase on it’s quarterly payout.
Albany International Corp. (ticker: AIN) operates as a textiles and materials processing company throughout the world with specialties in Machine Clothing design, manufacturing, and marketing of paper machine clothing and process belts used in the manufacture of paper and paperboard.
Albany raised it’s quarterly dividend by $.01 to $.14/share giving current investors about a 3% yield.
Sometimes it’s easy to overlook a stock like AIN because let’s face it, a 3% return just isn’t very exciting. But when you’re building a diversified portfolio, you shouldn’t overlook the less exciting holdings that pay a smaller dividend – often times it’s those “base” holdings that will outperform the market in a downturn while still paying the dividend quarter after quarter.
As always when evaluating investment opportunities it’s important to keep in mind not only the fundamentals of the stock itself, but also how the holding entity (Limited Partnership,Royalty Trust, Master Limited Partnership, Business Development Company, Preferred Stock) may affect the way you report income on your annual tax return as well as the amount or percentage of tax you will be required to pay.
Keep in mind that adding shares of any of these special entities to tax deferred / retirement accounts may also present additional issues.
Remember to review all of the fundamentals of any company BEFORE investing – you shouldn’t simply buy a stock based on the dividend payout. If you have further questions about any stock mentioned her you should first consult with your CPA or tax planner / adviser before making any investments.