40 Blue Chips Increasing Dividends in Q2

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40 Blue Chips Increasing Dividends in Q2
PetSmart (PETM)
New Payout % Increase Yield as of 7/2 Payment Date Record Date
$0.165/share 18% 0.97% Aug. 10 July 27
PNC Financial (PNC)
New Payout % Increase Yield as of 7/2 Payment Date Record Date
$0.40/share 14% 2.6% May 5 April 17
Procter & Gamble (PG)
New Payout % Increase Yield as of 7/2 Payment Date Record Date
$0.562/share 7% 3.67% May 15 April 27
Reynolds American (RAI)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.59/share 5.4% 5.18% July 2 June 11

What’s more addictive than smoking? Tobacco dividends. And Reynolds American (NYSE:RAI) has been delivering smooth, unfiltered cash for years. This year, RAI needed its dividend boost just to keep up its phenomenal 5%-plus yield amid a 10% surge in its share price.

Rockwell Automation (ROK)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.47/share 11% 2.92% Sept. 10 Aug. 13
Southwest Airlines (LUV)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.01/share 122% 0.43% June 20 June 6

No one’s talking up a yield that’s solely right of the decimal point, but Southwest Airlines (NYSE:LUV) at least gets the nod for being the only big airline currently doling out a check of any sort. And after roughly a decade of using a knife to split pennies for its dividend, Southwest upped the ante with a 122% increase that brought its payout to a full cent per share. Don’t fork over the down payment on the yacht quite yet, but you can afford a little more confidence if you’re long LUV.

Target (TGT)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.36/share 20% 2.47% Sept. 10 Aug. 15
Tiffany & Co. (TIF)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.32/share 10% 2.42% July 10 June 20

The past few months have thoroughly tarnished a number of luxury stocks, but a couple bright spots came in the form of dividend hikes. Coach (NYSE:COH) boosted its dividend by 33%, and Tiffany & Co. (NYSE:TIF) bumped up its payout by 10%. Both yield more than 2% as of July 2, but both of those yields have been helped out by roughly 25% tumbles in company shares.

Travelers Cos. (TRV)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.46/share 12% 2.88% June 29 June 8
UnitedHealth Group (UNH)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.215/share 30% 1.51% June 22 June 15
United Technologies (UTX)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.535/share 11.5% 2.85% Sept. 10 Aug. 17
Walgreen (WAG)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.275/share 22.2% 3.68% Sept. 12 Aug. 17

Walgreen‘s (NYSE:WAG) 22% dividend increase has helped boost its yield to 3.68%. Of course, that’s a partial truth. Also helping is a steady 30% decline in share price over the past 52 weeks. WAG is struggling for a number of reasons — the loss of its Express Scripts deal, margin and revenue pressures, a poorly timed deal for a European pharmacy and beauty chain — so the drugstore’s headline yield might make WAG a wolf in sheep’s clothing.

Williams Cos. (WMB)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.30/share 16% 4.13% June 25 June 8
W.W. Grainger (GWW)
New Payout % Increase Yield as of 7/2 Payment date Record date
$0.80/share 21% 1.68% June 1 May 14

Kyle Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities. Follow him on Twitter at @KyleWoodley.

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Article printed from InvestorPlace Media, http://investorplace.com/2012/07/40-blue-chips-increasing-dividends-in-q2/.

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