The stock market edged slightly lower during the week, pulling back from its all-time highs. Investors were busy digesting mixed earnings reports and new hints from the Federal Reserve about the potential for interest rate hikes later this year. Despite chopping stock prices, a number of dividend stocks increased their payouts last week.
In fact, seven notable dividend stocks boosted their payouts over the last week, including three industrial equipment manufacturers, a large food products company and two financial services firms.
Here are seven dividend stocks increasing payouts.
Nordson Corporation (NASDAQ:NDSN) increased its annual dividend by 13% to 27 cents per share from 24 cents. Shareholders of record as of Aug. 23 will receive dividends from the manufacturer of dispensing equipment on Sep. 6. The company’s shares go ex-dividend on Aug. 19.
NDSN Dividend Yield: 1.19%
Badger Meter, Inc. (NYSE:BMI) sent its quarterly dividend 15% higher, increasing its payment from 20 cents per share to 23 cents. Shareholders of record as of Aug. 31 will receive dividends from the producer of flow measurement products on Sep. 15. BMI shares will be ex-dividend on Aug. 29.
BMI Dividend Yield: 1.34%
Chemical Financial Corporation (NASDAQ:CHFC) raised its quarterly dividend by 4%, increasing it from 26 cents per share to 27 cents. The commercial bank will pay its higher dividend to shareholders of record as of Aug. 30 on Sep. 16. CHFC shares trade ex-dividend on Aug. 26.
CHFC Dividend Yield: 2.43%
Pinnacle Foods Inc (NYSE:PF) moved its quarterly dividend higher by three cents, increasing it by 12% from 25.5 cents per share to 28.5 cents. The branded food products manufacturer will pay its higher dividend to shareholders of record as of Aug. 30 on Oct. 10. PF shares trade ex-dividend on Aug. 26.
PF Dividend Yield: 2.26%
Briggs & Stratton Corporation (NYSE:BGG) rewarded shareholders with a 4% raise to its quarterly dividend, increasing it from 13.5 cents per share to 14 cents. Shareholders of record as of Sep. 16 will receive their higher dividends on Oct. 3 from the outdoor power equipment engines manufacturer. The company’s shares will be ex-dividend on Sep. 14.
BGG Dividend Yield: 2.95%
First American Financial Corp (NYSE:FAF) raised its quarterly dividend up from 26 cents per share to 34 cents, representing a 31% increase. The insurance provider will pay out its higher dividends to shareholders of record as of Sep. 8 on Sep. 15. FAF shares will trade ex-dividend on Sep. 6.
FAF Dividend Yield: 3.22%
ITC Holdings Corp. (NYSE:ITC) increased its dividend by 15%, raising its quarterly payment to 21.55 cents per share from 18.75 cents. The transmission infrastructure company will pay shareholders of record as of Sep. 1 on Sep. 15. The stock’s shares trade ex-dividend on Aug. 30.
ITC Dividend Yield: 1.84%
As of this writing, Simply Safe Dividends did not hold a position in any of the aforementioned securities.
