The big news confronting traders last week was the Friday morning release of the April jobs report. Strength showing 223,000 net new jobs created in the month was interpreted as “just right,” and that gave many stocks — including many of the best dividend stocks — a much-needed bullish boost.
The solid jobs data largely overshadowed earnings, as the Q1 reporting season is markedly slowing.
Still, there were many big-name dividend stocks reporting earnings, and many of these high-profile dividend stocks took the opportunity to increase shareholder payouts.
This week’s top-tier dividend stocks increasing payouts includes food and beverage giant PepsiCo, Inc. (NYSE:PEP), oil behemoth Phillips 66 (NYSE:PSX) and healthcare products provided Cardinal Health Inc (NYSE:CAH).
Here are eight dividend stocks increasing payouts this week.
Cardinal Health Inc (NYSE:CAH) increased the fitness of its quarterly payout by 13% to 38.70 cents per share from 34.25 cents. The more robust payout will be available on July 15 to shareholders of record as of July 1. The shares go ex-dividend on June 29.
CAH Dividend Yield: 1.8%
Intercontinental Exchange Inc (NYSE:ICE) swapped its current quarterly dividend for a 15.4% higher payout to 75 cents per share from 65 cents. The financial clearing house and trading facilitator said its new dividend is payable June 30 to shareholders of record as of June 16. The ex-dividend date is June 12.
ICE Dividend Yield: 1.26%
Macquarie Infrastructure Company LLC (NYSE:MIC) is used to investing in big energy projects, and this week it invested some fiscal energy in shareholders with a 4.9% bigger payout to $1.07 per share. The new dividend will be payable May 19 to shareholders of record as of May 14. MIC goes ex-dividend May 12.
MIC Dividend Yield: 5.02%
Occidental Petroleum Corporation (NYSE:OXY) turned up the value on its quarterly payout by 4.2% to 75 cents per share from 72 cents. The oil company’s new dividend is payable July 15 to shareholders of record as of June 10. OXY becomes ex-dividend on June 8.
OXY Dividend Yield: 3.85%
PepsiCo, Inc. (NYSE:PEP) poured a 7.3% bigger bottle of dividends, upping its payment to 70.25 cents per share form 65.5 cents. The food and beverage giant will pay the new dividend June 30 to shareholders of record as of June 5. PEP stock will be ex-dividend on June 3.
PEP Dividend Yield: 2.91%
Phillips 66 (NYSE:PSX) pushed the gas pedal for shareholders higher by 12%, with a new dividend of 56 cents per share vs. the prior 50 cents. The higher-octane dividend is slated to go in investors’ tanks June 1 to shareholders of record as of May 18. The stock becomes ex-dividend on May 14.
PSX Dividend Yield: 2.74%
Timken Co (NYSE:TKR) makes bearings and other industrial parts, and this week it found an extra penny per share in its fiscal parts kit. The 4% dividend increase to 26 cents per share from 25 cents will be available on June 2 to shareholders of record as of May 18. TKR will become ex-dividend on May 14.
TKR Dividend Yield: 2.61%
Trinity Industries Inc (NYSE:TRN) increased its fiscal arrangement with shareholders, boosting its quarterly dividend by a penny, or 10%, to 11 cents per share from 10 cents. The higher payment will be made July 31 to shareholders of record as of July 15. No ex-dividend date was provided.
TRN Dividend Yield: 1.45%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.
