The S&P 500 Index is off to a strong start in the New Year and it remains near an all-time high. Investors remain optimistic that President-elect Donald Trump’s fiscal policies will rejuvenate earnings growth and support the market’s relatively high valuation compared to history. While faster earnings growth is hopefully ahead, a number of dividend stocks recently announced fresh raises to their dividends.
Six notable dividend stocks increased their payouts over the last week, including three energy companies, two financial services firms and a large utility company. Most of these stocks have high dividend yields over 4%.
Here are six dividend stocks increasing payouts.
Enterprise Products Partners L.P. (NYSE:EPD) moved its quarterly dividend higher by half a penny, increasing it by 1% from 40.5 cents per share to 41 cents. The provider of midstream energy services will pay its higher dividend to shareholders of record as of Jan. 31 on Feb. 7. EPD shares trade ex-dividend on Jan. 27.
EPD Dividend Yield: 5.97%
Enbridge Inc (USA) (NYSE:ENB) raised its quarterly dividend up from 53 cents per share to 58.3 cents, representing a 10% increase. The energy transportation and distribution business will pay out its higher dividends to shareholders of record as of Feb. 15 on Mar. 1. ENB shares will trade ex-dividend on Feb. 13.
ENB Dividend Yield: 4.07%
Spectra Energy Corp. (NYSE:SE) hiked its quarterly dividend by 9%, raising its payment from 40.5 cents per share to 44 cents. Shareholders of record as of Feb. 15 will receive dividends from the natural gas infrastructure company on Mar. 1. SE shares will be ex-dividend on Feb. 13.
SE Dividend Yield: 4.16%
CenterPoint Energy, Inc. (NYSE:CNP) raised its quarterly dividend by 4%, increasing it from 25.75 cents per share to 26.75 cents. The electric and gas utility company will pay its higher dividend to shareholders of record as of Feb. 16 on Mar. 10. CNP shares will trade ex-dividend on Feb. 14.
CNP Dividend Yield: 4.25%
Bank of The Ozarks Inc (NASDAQ:OZRK) grew its monthly dividend from 16.5 cents per share to 17 cents, representing a raise of 3%. The bank holding company will pay out its higher dividends to shareholders of record as of Jan. 20 on Jan. 27. OZRK shares are expected to trade ex-dividend on Jan. 18.
OZRK Dividend Yield: 1.29%
Moelis & Co (NYSE:MC) increased its quarterly dividend by 16% to 37 cents per share from 32 cents. Shareholders of record as of March 3 will receive dividends from the investment bank on March 17. The company’s shares will go ex-dividend on March 1.
MC Dividend Yield: 4.39%
As of the time of this writing, Simply Safe Dividends did not hold a position in any of the aforementioned securities.