As sure as spring eventually takes over from winter, investors will see a pick-up in dividend increase activity, particularly as Q1 earnings season gets under way in earnest over the coming weeks.
The first quarter of 2014 saw significant activity, including moves from these 50 Blue-Chip stocks, however the end of the quarter saw activity slow to a drip. The result is that our list of dividend stocks raising payouts for this week is actually a two-week compilation (March 24 to April 4).
Leading the way over the past two weeks was Bank of America (BAC), which continued its resurgence from the credit crisis by announcing a dividend hike.
Here’s a look at the new dividend payout for Bank of America as well as the improvements from other dividend stocks this week.
(Note: All dividend yields are as of April 4.)
Banking giant Bank of America (BAC) raised its quarterly dividend 400% to 5 cents per share, payable in the second quarter on a date to be determined. The 400% bump gives BAC stock the biggest gain in this week’s list of dividend stocks increasing payouts.
BAC Dividend Yield: 0.23%
Bank holding company Banner (BANR) raised its quarterly dividend 20% to 18 cents per share, payable April 15 to shareholders or record as of April 7.
BANR Dividend Yield: 1.75%
Lodging-focused real estate investment trust (REIT) DiamondRock (DRH) raised its dividend 21% to 10.25 cents per share, payable April 10 to shareholders of record as of March 31. Yielding more than 3%, DRH stock has the highest yield of this week’s dividend stocks increasing payouts.
DRH Dividend Yield: 3.38%
Yet another bank, Bank of the Ozarks (OZRK) raised its dividend 4.5% to 23 cents per share, payable April 18 to shareholders of record as of April 11.
OZRK Dividend Yield: 1.37%
Pittsburgh-based bank holding company PNC Financial Services (PNC) raised its quarterly dividend 9% to 48 cents per share, payable May 5 to shareholders of record as of April 15.
PNC Dividend Yield: 2.19%
Off-price apparel and home fashion retailer TJX (TJX) raised its dividend 21% to 17.5 cents per share, payable June 5 to shareholders of record as of May 15.
TJX Dividend Yield: 1.13%
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he did not hold a position in any of the aforementioned securities. For more dividend stocks increasing payouts, see previous weeks’ lists of Companies Increasing Dividends.