The S&P 500 Index rallied nearly 2% last week to reach a new all-time high and has now returned more than 10% following the U.S. Presidential election. Investors remain optimistic even as the Federal Reserve hinted at a potential interest rate increase as early as March. Many dividend stocks are optimistic as well.
Ten notable dividend stocks raised payouts over the past week, including three banks, two industrial manufacturers, three electric utilities, and a large real estate investment trust.
Here are ten dividend stocks increasing payouts:
Royal Bank of Canada (NYSE:RY) increased its quarterly dividend by 5%, raising its payment to CAD 87 cents per share from 83 cents. The financial services company will pay shareholders of record as of April 25 on May 24. The stock’s shares trade ex-dividend on April 21.
RY Dividend Yield: 3.41%
Lamar Advertising Company (NASDAQ:LAMR) rewarded shareholders with a 9% raise to its quarterly dividend, increasing it from 76 cents per share to 83 cents. Shareholders of record as of March 15 will receive their higher dividends on March 31 from the outdoor advertising company. LAMR shares will be ex-dividend on March 13.
LAMR Dividend Yield: 4.09%
Sempra Energy (NYSE:SRE) announced a 9% raise to its quarterly dividend, increasing its payout from 75.5 cents per share to 82.25 cents. The gas and electric utility will send its higher dividends out on April 15 to shareholders of record as of March 23. SRE shares will trade ex-dividend on March 21.
SRE Dividend Yield: 2.77%
Westar Energy Inc (NYSE:WR) raised its quarterly dividend from 38 cents per share to 40 cents, representing a 6% increase. The electric utility will pay out its higher dividends to shareholders of record as of March 9 on April 3. WR shares traded ex-dividend on March 7.
WR Dividend Yield: 2.97%
M&T Bank Corporation (NYSE:MTB) raised its quarterly dividend by 7%, increasing it from 70 cents per share to 75 cents. The bank holding company will pay its higher dividend to shareholders of record as of March 6 on March 31. MTB shares will trade ex-dividend on March 2.
MTB Dividend Yield: 1.78%
Canadian Imperial Bank of Commerce (USA) (NYSE:CM) increased its quarterly dividend by 2% to CAD $1.27 per share from $1.24. Shareholders of record as of March 28 will receive dividends from the global provider of financial products and services on April 28. The company’s shares will go ex-dividend on March 24.
CM Dividend Yield: 4.29%
Eaton Corproation, PLC Ordinary Shares (NYSE:ETN) announced a 5% increase to its quarterly dividend, raising it from 57 cents per share to 60 cents. Dividends will be paid from the large industrial conglomerate on March 17 to shareholders of record as of March 6. ETN shares become ex-dividend on March 2.
ETN Dividend Yield: 3.33%
Danaher Corporation (NYSE:DHR) moved its quarterly dividend higher by 12%, increasing it from 12.5 cents per share to 14 cents. The diversified industrial manufacturer will pay its higher dividend to shareholders of record as of March 31 on April 28. DHR shares traded ex-dividend on March 29.
DHR Dividend Yield: 0.65%
Xcel Energy Inc (NYSE:XEL) increased its quarterly dividend by 6%, raising its payment from 34 cents per share to 36 cents. Shareholders of record as of March 15 will receive dividends from the electric utility on April 20. XEL shares will be ex-dividend on March 13.
XEL Dividend Yield: 3.32%
Essex Property Trust Inc (NYSE:ESS) grew its quarterly dividend from $1.60 per share to $1.75, representing a raise of 9%. The residential real estate investment trust will pay out its higher dividends to shareholders of record as of March 31 on April 17. ESS shares are expected to trade ex-dividend on March 29.
ESS Dividend Yield: 3.02%
As of the time of this writing, Simply Safe Dividends did not hold a position in any of the aforementioned securities.
