What do an oil giant, a tech stalwart and a diesel-engine maker have in common?
They’re all dividend stocks that have announced increased payouts in July. So far this month, we’ve seen 10 dividend stock divas move to make shareholders happy by upping their respective payouts.
Topping that list of companies is oil behemoth ConocoPhillips (COP), semiconductor equipment maker KLA-Tencor (KLAC) and diesel-engine producer Cummins (CMI). In percentage terms, Cummins revved up its payout the most, increasing the horsepower on its quarterly dividend by nearly 25%.
So, how did the rest of the field fare? Here’s a rundown on all the dividend stocks increasing payouts so far this month.
Oil and natural gas firm Breitburn Energy Partners (BBEP) lifted its quarterly dividend payout to 16.75 cents per share from 16.58 cents, or a 1% increase. The new dividend will be paid July 16 to shareholders of record as of July 11. The stock goes ex-dividend on July 9.
BBEP Dividend Yield: 9.1%.
ConocoPhillips (COP) drilled down into its fiscal well and unearthed a 5.8% bigger dividend, raising its quarterly payment to 73 cents per share from 69 cents. The new dividend will be paid on Sept. 2 to shareholders on record as July 21. The stock goes ex-dividend on July 17.
COP Dividend Yield: 3.2%
Cummins, Inc. (CMI) delivered some serious torque to its dividend by increasing its payout 24.8% to 78 cents per share from 62.5 cents. The enhanced payment will be made Sept. 2 to shareholders of record as of Aug. 22. The stock goes ex-dividend on Aug. 20.
CMI Dividend Yield: 1.6%.
Utility and power-generation giant Duke Energy (DUK) raised the temperature on its dividend, boosting its quarterly payment 1.9% to 79.5 cents per share from 78 cents. The new payment is due Sept. 16 to shareholders on record as of Aug. 15. DUK goes ex-dividend on Aug. 13.
DUK Dividend Yield: 4.3%
Midstream energy services company Enterprise Products Partners L.P. (EPD) will pump up its dividend by 1.4% to 72 cents per share from 71 cents. The increased payment will be delivered Aug. 7 to shareholders of record as of July 31. The stock will go ex-dividend July 29.
EEP Dividend Yield: 3.7%.
Genesis Energy L.P. (GEL) is a midstream energy services partnership operating in the Gulf Coast region, and this month it moved to dial up its dividend by 2.7% to 56.5 cents per share from 55 cents. The bigger payment will be made on Aug. 14 to shareholders on record as of Aug. 1. The stock will go ex-dividend July 30.
GEL Dividend Yield: 4.1%.
KLA-Tencor (KLAC) increased the processing power on its dividend chip, raising its quarterly payout 11% to 50 cents per share from 45 cents. The company also said it will increase its share repurchase program for up to 13 million additional shares, a big boost from the prior repurchase agreement. KLAC did not announce payment dates, or ex-dividend dates for the new payout.
KLAC Dividend Yield: 2.6%.
Payroll and human resource services company Paychex, Inc. (PAYX) gave shareholders an 8.6% raise, lifting its quarterly dividend to 38 cents per share from 35. The raise will be effective on Aug. 15 to shareholders of record as of Aug. 1. The stock will go ex-dividend on July 30.
PAYX Dividend Yield: 3.3%
Oil and natural gas transport firm Plains All American Pipeline L.P. (PAA) will pump a 2.4% bigger dividend to 64.5 cents from 63 cents. The increased payment will be made Aug. 14 to shareholders of record as of Aug. 1. The stock’s ex-dividend date is July 30.
PAA Dividend Yield: 4.4%.
Tallgrass Energy Partners LP (TEP) is another midstream energy partnership creating bigger smiles for shareholders. The company upped its payout 16.9% to 38 cents per share from 32.5 cents. The new dividend is payable on Aug. 14 to shareholders of record as of July 30. The stock goes ex-dividend on July 28.
TEP Dividend Yield: 3.1%.
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.