The market is experiencing one of its most volatile periods in years, and if you’re a trader, you’re either doing very well right now — or you’re getting clobbered. If, however, your primary focus is dividend stocks and the income that great companies pay to shareholders, then the latest round of volatility should probably be thought of more as noise than anything else.
What shouldn’t be thought of as noise is the real action taken by the companies themselves, action to increase these dividend stocks’ payouts and boost dividend yield to shareholders.
This week, we saw one of the biggest dividend stocks in the financial industry, Goldman Sachs (GS), report strong third-quarter earnings results that easily bested analysts’ estimates, and that were reflective of a strong comeback for the financial sector during Q3.
More importantly, the banking and investment giant increased its quarterly dividend 9.1% to 60 cents per share from 55 cents. The new dividend is payable on Dec. 30 to shareholders of record as of Dec. 2. The stock goes ex-dividend on Nov. 28, and the new yield on shares is 1.35%.
So, what about the rest of the dividend stocks increasing payouts and their dividend yield this week?
Here’s the 411 on seven other dividend stocks.
Ameren Corp. (AEE) is the producer and distributor of electricity and natural gas to customers in Missouri and Illinois. The utility increased the power on its quarterly payout by 2.5% to 41 cents per share from 40 cents. The new dividend is payable Dec. 31 to shareholders of record as of Dec. 10. The shares go ex-dividend Dec. 8.
AEE Dividend Yield: 4.14%
Barnes Group Inc. (B) is an industrial and aerospace manufacturer and service provider, and this week the company serviced shareholders with a 9% increase in its quarterly dividend to 12 cents per share from 11 cents. The new dividend is payable Dec. 10 to shareholders of record as of Nov. 26. No ex-dividend data on Barnes shares is available.
B Dividend Yield: 1.47%
Enterprise Products Partners (EPD) is a midstream energy services provider, and this week the company upped its quarterly cash distribution by approximately 1.4% to 36.5 cents per share from 36 cents. The new distribution will be paid on Nov. 7 to unitholders of record as of Oct. 31. The shares go ex-dividend Oct. 29.
EPD Dividend Yield: 3.86%
Kinder Morgan Inc. (KMI) is the biggest midstream energy company in North America, and it consistently pays big dividends. The company boosted its payout 7% to 44 cents per share from 41 cents. The new payout will be delivered Nov. 17 to shareholders of record as of Oct. 31. The shares go ex-dividend Oct. 29.
KMI Dividend Yield: 4.70%
Omega Healthcare Investors (OHI) increased its dividend health by nearly 2% to 52 cents per share from 51 cents. The additional penny per share will show up in investor accounts on Nov. 17 to owners of record as of Oct. 31. The stock becomes ex-dividend Oct. 29.
OHI Dividend Yield: 5.59%
Penske Automotive Group (PAG) is a big name in the auto dealership business, the commercial vehicle business, and even the auto racing business. This week the company announced it was upping the horsepower on its dividend by 5% to 21 cents per share from 20 cents. The new payment will drive into investor accounts on Dec. 1 to shareholders of record as of Nov. 10. The shares go ex-dividend Nov. 6.
PAG Dividend Yield: 2.10%
Western Refining (WNR), as its name suggests, is a producer and refiner of crude oil and derivative petroleum products. This week, the company refined its quarterly dividend payment by 15% to 30 cents per share from 26 cents. The new dividend will be sent Nov. 13 to shareholders of record as of Oct. 29. WNR shares go ex-dividend Oct. 27.
WNR Dividend Yield: 2.95%
As of this writing, Jim Woods was long PAG.
