The headlines around the world aren’t looking particularly comforting for investors. A civilian airliner blown out of the sky over Ukraine and a retaliatory invasion of Gaza by the Israeli Defense Force have spooked investors around the globe — and that’s ramped up volatility on Wall Street’s trading floor.
Yet life goes on away from this week’s geopolitical tumult, and that means that dividend stocks from a variety of market sectors continue making shareholders happy by increasing payouts.
Leading the pack of dividend stocks increasing payouts this week is a company that’s actually used to winning races, and that’s Penske Automotive Group (PAG). The automotive dealership and auto services firm is a prominent sponsor/owner of one of the most successful professional auto racing teams ever, thanks to the stewardship of owner and CEO Roger Penske.
This week, the company boosted the RPMs on its quarterly payout by 5.3% to 20 cents per share from 19 cents. The new dividend will be paid on Sept. 2 to shareholders in the cockpit as of Aug. 11. The stock will go ex-dividend on Aug. 7.
PAG Dividend Yield: 1.6%
While Penske is perhaps the highest-profile company on this week’s list of dividend stocks increasing payouts, there were nine other firms focused on pumping up their respective divvies.
Bassett Furniture Industries Inc. (BSET) redecorated its quarterly payout by 33.3%, raising its dividend to 8 cents per share from 6 cents. The new dividend will be paid on Aug. 29 to shareholders of record as of Aug. 15. The stock goes ex-dividend on Aug. 13.
BSET Dividend Yield: 2.1%
High-tech aerospace and industrial metals and materials firm Cytec Industries (CYT) doubled its quarterly payout this week, lifting its dividend to 25 cents per share from 12.5 cents. The new dividend is set to be paid on Aug. 25 to owners of record as of Aug. 11. The stock will go ex-dividend Aug. 7.
CYT Dividend Yield: 0.5%
Liquid natural gas transport company Golar LNG Partners LP (GMLP) raised its quarterly dividend by 4.8% to 54.75 cents per share from 52.25 cents. The new dividend will be paid on Aug. 12 to shareholders of record as of July 31. The stock goes ex-dividend on July 29.
GMLP Dividend Yield: 6.1%
Regional bank holding company Greene County Bancorp, Inc. (GCBC) increased its quarterly dividend 2.9% to 18 cents per share from 17.5 cents. The new dividend will be paid Aug. 29 to owners of record on Aug. 15. The stock will go ex dividend on Aug. 13.
GCBC Dividend Yield: 2.7%
Rehabilitation hospital operator HealthSouth Corp (HLS) rehabilitated its quarterly dividend, increasing its payout by 16.7% to 21 cents per share from 18 cents. The new payout will be delivered Oct. 15 to shareholders of record as of Oct. 1. The shares go ex-dividend Sept. 29.
HLS Dividend Yield: 2.3%
Natural gas and oil partnership Marlin Midstream Partners LP (FISH) turned up the dial on its dividend by 1.4% to 36 cents per share from 35.5 cents. The higher payment will be paid on Aug. 5 to shareholders of record as of July 31. The stock will go ex-dividend on July 29.
FISH Dividend Yield: 7.0%
Retail financial services firm Susquehanna Bancshares, Inc. (SUSQ) boosted its dividend by 12.5% to 9 cents per share from 8 cents. The new payment will be paid on Aug. 20 to shareholders of record as of Aug. 1. The stock will go ex-dividend July 30.
SUSQ Dividend Yield: 3.5%
TransMontaigne Partners (TLP) terminals and transports oil and petroleum products. This week the partnership transported a 0.8% increase in its quarterly payment to shareholders, upping the dividend to 66.5 cents per share from 66 cents. The new dividend will be paid on Aug. 7 to shareholders of record as of July 31. The stock will go ex-dividend on July 29.
TLP Dividend Yield: 6.1%
West Pharmaceutical (WST) makes drug delivery systems. This week, the company injected a 10% bigger dose to its quarterly dividend to 11 cents from 10 cents. The new dividend will be paid on Nov. 5 to shareholders of record as of Oct. 22. The stock will go ex-dividend on Oct. 20.
WST Dividend Yield: 1.0%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.