The holiday-shortened week was light in terms of the total number of dividend stocks increasing payouts, but that doesn’t mean it wasn’t an important week for income investors. That’s because this week, Dow component and telecom behemoth Verizon Communications Inc. (VZ) dialed up a stout increase in its quarterly dividend.
The widely held VZ has been a dividend star for decades, both as VZ and before that as Bell Atlantic. This week, the company increased its quarterly payout by 3.8% to 55 cents per share from 53 cents from the prior quarter. Verizon’s new quarterly dividend increase is payable on Nov. 3 to shareholders of record as of Oct. 10. The stock goes ex-dividend Oct. 8.
At a dividend yield of 4.42%, VZ offers the second-highest payout of any Dow component. The highest payout is fellow telecom giant AT&T (T) with a dividend yield of 5.27%.
In addition to VZ, there were five other dividend stocks increasing payouts this week.
Single-family rental property REIT Altisource Residential Corp. (RESI) upped the rent it pays to shareholders, declaring a quarterly dividend of 55 cents per share, a 22% increase over the previous payout of 45 cents. The enhanced dividend will be delivered Sept. 30 to shareholders of record as of Sept. 15. The shares will go ex-dividend on Sept. 11. RESI stock offers the highest dividend yield on this week’s list of dividend stocks.
RESI Dividend Yield: 8.5%
Medical device maker Atrion Corp. (ATRI) supplies many of the fluid delivery devices used in cardiovascular applications. This week the company delivered a 17.2% increase in its quarterly dividend to 75 cents per share from 64 cents. The boosted payout will be made on Sept. 30 to shareholders of record as of Sept. 15. The ex-dividend date is Sept. 11.
ATRI Dividend Yield: 0.9%
Industrial property REIT EastGroup Properties (EGP) operates mainly in the Sunbelt states of Texas, Arizona and California. This week, the company gave back some fiscal sunshine to shareholders, upping its quarterly dividend payout by 5.6% to 57 cents per share from 54 cents. The shinier payout is slated to begin Sept. 30 to shareholders of record as of Sept. 19. EGP shares go ex-dividend on Sept. 17. For EGP, the increased dividend represents the company’s 19th annual increase in the past 22 years.
EGP Dividend Yield: 3.5%
Midwest shopping center REIT Ramco-Gershenson Properties Trust (RPT) increased the financial traffic to shareholders by 6.7% to 20 cents per share from 18.75 cents. The new payment is scheduled for Oct. 1 to shareholders of record as of Sept. 19. RPT shares will go ex-dividend on Sept. 17.
RPT Dividend Yield: 4.6%
Politically conservative radio broadcast, multi-media and newsletter publisher Salem Communications Corp. (SALM) turned up the financial wattage on its quarterly dividend payment by 4.2% to 6.25 cents per share from 6 cents. The new and improved dividend is scheduled to begin on Sept. 30 to shareholders of record as of Sept. 16. SALM shares go ex-dividend on Sept. 12.
SALM Dividend Yield: 3.2%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.
