BAC Banks a Raise: 5 Dividend Stocks Raising Payouts

by Marc Bastow | April 4, 2014 1:48 pm

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.

[1]The first quarter of 2014 saw significant activity, including moves from these 50 Blue-Chip stocks[2], 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[3]), 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[3]) 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[4]) 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[5]) 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[6]) 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[7]) 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[8]) 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[9].

Source URL: https://investorplace.com/2014/04/dividend-stocks-tjx-pnc-bac-banr/

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