The equity markets have hit a slippery patch since early September, and this week the fall in the major U.S. indices have been downright ugly. Concerns over slowing global growth, Europe’s feeble response to its fiscal woes, and some aggressive technical selling teamed up to hand the Dow a 335-point drubbing on Thursday.
Given this backdrop of selling pressure, it’s nice to know that there are many dividend stocks staying the proverbial course, and continuing to deliver on both the earnings and dividend fronts. After all, if stocks are getting hammered, at least we can take solace in the host of dividend stocks increasing their payouts to shareholders and boosting their dividend yields.
Over the past two weeks, there have been many high-profile dividend stocks moving to make investors happy by adding to their quarterly payout, and upping their dividend yield. The biggest in this pack are food product giant Kraft Foods Group (KRFT), and defense and aerospace behemoth Lockheed Martin (LMT).
Let’s take a look at these two companies, along with the rest of this week’s 10 dividend stocks increasing their respective payouts.
[Note: All dividend yields are as of noon, Oct 10.]
Kraft Foods Group (KRFT), makers of goodies such as Oreo cookies and Oscar Meyer hot dogs, cooked up a tasty 4.7% increase in its dividend to 55 cents per share from 52.5 cents. The new dividend is payable on Oct. 31 to shareholders of record as of Oct. 17. KRFT goes ex-dividend on Oct. 15.
KRFT Dividend Yield: 3.89%
Lockheed Martin (LMT)is a giant defense and aerospace firm, and the company recently moved to give its dividend payout more altitude. Lockheed upped its dividend by 13% to $1.50 per share from $1.33. That number actually fell short of estimates for a dividend increase of 16%. The new payment will be sent on Dec. 26 to shareholders of record as of Dec. 1. LMT shares go ex-dividend on Nov. 26.
LMT Dividend Yield: 3.43%
Regional financial firm Bank of the Ozarks (OZRK) announced it was increasing its quarterly dividend 4.17% to 12.5 cents per share from 12 cents. The new dividend will be paid out on Oct. 24 to shareholders of record as of Oct. 17. OZRK shares become ex-dividend Oct. 15.
OZRK Dividend Yield: 1.64%
Midstream energy transport MLP Genesis Energy (GEL) opened its fiscal pipeline and increased its quarterly distribution 2.7% to 58 cents per unit from 56.5 cents. The new distribution will be paid Nov. 14 to unitholders of record as of Oct. 31. GEL shares go ex-dividend Oct. 29.
GEL Dividend Yield: 4.89%
Life sciences firm Pall Corporation (PLL) upped its quarterly payout by 11% to 30.5 cents per share from 27.5 cents. The new dividend is payable on Nov. 10 to shareholders of record as of Oct. 20. PLL shares become ex-dividend Oct. 16.
PLL Dividend Yield: 1.34%
Plains All American Pipeline (PAA) increased its quarterly distribution 2.3% to 66 cents per unit from 64.5 cents. The enhanced unitholder payment will be made on Nov. 14 to holders of record as of Oct. 31. PAA becomes ex-dividend on Oct. 29.
PAA Dividend Yield: 4.96%
Plains GP Holdings (PAGP) is the holding company for PAA, and it also increased its payment to unitholders. The new payment of 19.08 cents represents a 4% increase from the current 18.34 cents. PAGP unitholders also will receive payment on Nov. 14 to if they are owners of record as of Oct. 31. PAGP also becomes ex-dividend on Oct. 29.
PAGP Dividend Yield: 2.87%
Specialty chemical and polymer manufacturer PolyOne Corporation (POL) mixed up a new fiscal blend for shareholders, declaring a dividend of 10 cents per share, a 25% increase from the 8 cents per share in the prior quarter. POL represents the biggest increase in dividend stocks this week. The new dividend will be paid Jan. 7 to shareholders of record as of Dec. 15. The stock goes ex-dividend on Dec. 11.
POL Dividend Yield: 1.22%
Industrial chemical firm RPM International (RPM) makes products such as Rust-Oleum paints and DAP caulking. The company enhanced the seal on its fiscal coating with an 8.3% dividend increase to 26 cents per share from 24 cents. The new payment will be sent Oct. 31 to shareholders of record as of Oct. 20. The stock becomes ex-dividend Oct. 16.
RPM Dividend Yield: 2.31%
Recreation and off-road vehicle maker Thor Industries (THO) boosted the horsepower on its dividend by 17% to 27 cents per share from 23 cents. The new payment will be made Oct. 31 to shareholders of record as of Oct. 17. The stock becomes ex-dividend on Oct. 15.
THO Dividend Yield: 2.11%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.
