Question: What do a big-box electronics retailer, a cheap-chic discounter and the biggest construction company around have in common?
The parade of payout performers over the past week include Best Buy (BBY), Target (TGT) and Caterpillar (CAT), three of the biggest names in their respective industries, and also dividend stocks that are both very well-known, and very widely held. We look at nine dividend stocks that improved their payouts this week. (Note: Yields as of 6/13)
Electronics giant Best Buy kicked off the dividend stocks party when it raised its quarterly dividend by nearly 12% to 19 cents a share. The new payout will begin on Oct. 2 to shareholders of record as of Sept. 11, with an ex-dividend date of Sept. 9. The last time the seller of electronic gadgets, TVs, computers, stereos, and the like upped its payout was two years ago.
BBY Dividend Yield: 2.7%
Target followed Best Buy’s lead and made a move to make shareholders happy by bumping up its quarterly payout 20.95% to 52 cents a share. The new dividend increase is payable on Sept. 10 to shareholders of record as of Aug. 20, with an ex-dividend date of Aug. 18. The dividend comes as a welcome nod to investor loyalty after the company’s reputation-smacking PR nightmare that was the recent credit card data breach.
TGT Dividend Yield: 3.6%
Construction equipment giant Caterpillar makes big machines that change the face of the earth, but this week it changed the face of its shareholder payout by scooping up a dividend increase of 16.7%, which boosts its quarterly payout to 70 cents per share. The new dividend will be paid on Aug. 20 to all shareholders of record as of July 21, with an ex-dividend date of July 17.
CAT Dividend Yield: 2.6%
While these three, high-profile dividend stocks were the biggest-name companies increasing dividends this week, there were other prominent dividend-paying firms that made the announcement to boost shareholder bottom lines.
Medical device maker C.R. Bard Inc. (BCR) — one of InvestorPlace’s Dependable Dividend Stocks — injected more cash into shareholder veins, upping its dividend dose by 4.8% to 22 cents per share. The new payout will be made on Aug. 1 to shareholders on record as of July 21, with an ex-dividend date of July 17. The company also said its board has approved the repurchase of up to $500 million of company stock.
BCR Dividend Yield: 0.6%
Himax Technologies (HIMX) increased its dividend by 8% to 27 cents per American depository share. The semiconductor chipmaker will process the new payment on July 23 to shareholders of record as of July 11, with an ex-dividend date of July 17.
HIMX Dividend Yield: 4%
Wireless communication technology firm InterDigital, Inc. (IDCC) upped the power on its dividend payout by 100% to 20 cents per share. The newly doubled dividend will be doled out on July 23 to shareholders of record as of July 9, with an ex-dividend date of July 7.
IDCC Dividend Yield: 1.8%
Natural gas and oil firm National Fuel Gas Company (NFG) turned up the heat on its dividend, increasing its payout 2.7% to 38.5 cents per share. The new dividend is payable July 15 to shareholders of record as of June 30, with an ex-dividend date of June 26.
NFG Dividend Yield: 2.1%
Sorbent chemical maker Oil-Dri Corp. of America (ODC) increased its payout to shareholders by 5.3% to 20 cents per share. The new dividend will be paid on Aug. 29 to shareholders of record as of Aug. 15, with an ex-dividend date of Aug. 13.
ODC Dividend Yield: 2.6%
Stage Stores (SSI) operates specialty realty stores under the Bealls, Goody’s, Palais Royal, Peebles and Stage brand names. This week the company announced a 12% increase in its dividend to 14 cents per share. Stage said its dividend increase will be applicable to all dividends declared as of Aug. 21. No dividend dates were announced.
SSI Dividend Yield: 2.6%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.