The S&P 500 Index continued its rally during the holiday-shortened week, continuing its post-election surge to reach an all-time high. Many investors continued to rotate out of defensive sectors and into more cyclical areas of the market that stand to benefit the most from improving economic growth. However, more dividend raises were announced across a number of different sectors.
Eight notable dividend stocks increased their payouts over the last week, including two global healthcare businesses, two utility companies, and a couple of branded food products manufacturers.
Here are eight dividend stocks increasing payouts.
Merck & Co., Inc. (NYSE:MRK) rewarded shareholders with a 2% raise to its quarterly dividend, increasing it by a penny from 46 cents per share to 47 cents. Shareholders of record as of Dec. 15 will receive their higher dividends on Jan. 9 from the global pharmaceutical company. MRK shares will be ex-dividend on Dec. 13.
MRK Dividend Yield: 3%
Becton Dickinson and Co (NYSE:BDX) raised its quarterly dividend up from 66 cents per share to 73 cents, representing an 11% increase. The provider of medical devices and supplies will pay out its higher dividends to shareholders of record as of Dec. 9 on Dec. 30. BDX shares will trade ex-dividend on Dec. 7.
BDX Dividend Yield: 1.7%
Hormel Foods Corp (NYSE:HRL) served up a 17% increase to its quarterly dividend, raising it from 14.5 cents per share to 17 cents. Dividends will be paid from the food products manufacturer on Feb. 15 to shareholders of record as of Jan. 17. HRL shares become ex-dividend on Jan. 12.
HRL Dividend Yield: 1.9%
Lancaster Colony Corp. (NASDAQ:LANC) raised its quarterly dividend by 10%, increasing it from 50 cents per share to 55. The specialty provider of food products will pay its higher dividend to shareholders of record as of Dec. 9 on Dec. 30. LANC shares will trade ex-dividend on Dec. 7.
LANC Dividend Yield: 1.6%
Roper Technologies Inc (NYSE:ROP) grew its quarterly dividend from 30 cents per share to 35 cents, representing a boost of 17%. The diversified manufacturer of industrial products and software will pay out its higher dividends to shareholders of record as of Jan. 9 on Jan. 23. ROP shares are expected to trade ex-dividend on Jan. 5.
ROP Dividend Yield: 0.77%
South Jersey Industries Inc (NYSE:SJI) increased its quarterly dividend by 3% to 27.25 cents per share from 26.38 cents. Shareholders of record as of Dec. 9 will receive dividends from the natural gas utility on Dec. 29. The company’s shares will go ex-dividend on Dec. 7.
SJI Dividend Yield: 3.2%
Kite Realty Group Trust (NYSE:KRG) hiked its quarterly dividend by 5%, raising its payment from 28.75 cents per share to 30.25 cents. Shareholders of record as of Jan. 6 will receive dividends from the retail real estate investment trust on Jan. 13. KRG shares will be ex-dividend on Jan. 4.
KRG Dividend Yield: 4.9%
York Water Co (NASDAQ:YORW) increased its quarterly dividend by 3%, raising its payment to 16.02 cents per share from 15.55 cents. The water utility will pay shareholders of record as of Dec. 30 on Jan. 17. The stock’s shares trade ex-dividend on Dec. 28.
YORW Dividend Yield: 1.7%
As of this writing, Simply Safe Dividends was long BDX and HRL stock.
