Earnings season propelled the S&P 500 Index to a new record high last week. A combination of improving earnings growth, low interest rates and continued optimism for lower corporate tax rates and deregulation is driving the market higher. Dividends have been increasing, too.
Specifically, eight noteworthy dividend stocks raised payouts over the past week, including two financial services firms, a popular beverage manufacturer, a global oil major and a large pharmaceutical company.
Here are eight dividend stocks increasing payouts:
Gilead Sciences, Inc. (NASDAQ:GILD) announced a 11% increase to its quarterly dividend, raising it from 47 cents per share to 52 cents. Dividends will be paid from the biopharmaceutical company on March 30 to shareholders of record as of March 16. GILD shares go ex-dividend on March 14.
GILD Dividend Yield: 3.1%
3M Co (NYSE:MMM) increased its quarterly dividend by 6% to $1.175 per share from $1.11. Shareholders of record as of Feb. 17 will receive dividends from the industrial conglomerate on March 12. The company’s shares will go ex-dividend on Feb. 15.
MMM Dividend Yield: 2.6%
United Parcel Service, Inc. (NYSE:UPS) rewarded shareholders with a 6% raise to its quarterly dividend, increasing it by a nickel from 78 cents per share to 83 cents. Shareholders of record as of Feb. 21 will receive their higher dividends on March 8 from the global package delivery company. UPS shares will be ex-dividend on Feb. 16.
UPS Dividend Yield: 3.1%
Prudential Financial Inc (NYSE:PRU) announced a 7% raise to its quarterly dividend, bringing its payout up from 70 cents per share to 75 cents. The provider of life insurance, annuities and investment management services will send its higher dividends out on March 16 to shareholders of record as of Feb. 22. PRU shares will trade ex-dividend on Feb. 17.
PRU Dividend Yield: 2.7%
Dr. Pepper Snapple Group Inc. (NYSE:DPS) increased its quarterly dividend by 9%, raising its payment to 58 cents per share from 53 cents. The manufacturer of non-alcoholic beverages will pay shareholders of record as of March 14 on April 5. The stock’s shares trade ex-dividend on March 10.
DPS Dividend Yield: 2.2%
Total SA (ADR) (NYSE:TOT) raised its quarterly dividend by a penny from 65 cents per share to 66 cents, representing a 2% increase. The integrated oil and gas company will pay out its higher dividends to shareholders of record as of June 2 on June 29. TOT shares traded ex-dividend on May 31.
TOT Dividend Yield: 5.3%
CME Group Inc (NASDAQ:CME) raised its quarterly dividend by 10%, increasing it from 60 cents per share to 66 cents. The stock exchange operator will pay its higher dividend to shareholders of record as of March 10 on March 27. CME shares will trade ex-dividend on March 8.
CME Dividend Yield: 2.21%
Archer Daniels Midland Company (NYSE:ADM) moved its quarterly dividend higher by six cents, increasing it by 7% from 30 cents per share to 32 cents. The processor of agricultural commodities will pay its higher dividend to shareholders of record as of Feb. 21 on March 14. ADM shares traded ex-dividend on Feb. 16.
ADM Dividend Yield: 2.9%
As of the time of this writing, Brian Bollinger was long MMM stock.
