Another week of mostly solid earnings reports, plus a strong U.S. labor report and continued confidence from the Federal Reserve about the state of the economy, was enough to push up the S&P 500 Index for yet another week. Healthy earnings results helped a number of firms initiate dividend boosts as well.
Ten major dividend stocks increased their payouts over the last week, including two midstream energy firms, a leading manufacturer of smartphones, two healthcare-focused businesses and a popular snack and beverage manufacturer.
Here are ten dividend stocks increasing payouts.
Apple Inc. (NASDAQ:AAPL) increased its quarterly dividend by 11%, raising its payment from 57 cents per share to 63 cents. Shareholders of record as of May 15 will receive dividends from the manufacturer of iPhones, iPads, and Macs on May 18. AAPL shares will be ex-dividend on May 11.
AAPL Dividend Yield: 1.7%
PepsiCo, Inc. (NYSE:PEP) announced a 7% increase to its quarterly dividend, raising it from 75.25 cents per share to 80.5 cents. Dividends will be paid from the global snack and beverage manufacturer on June 30 to shareholders of record as of June 2. PEP shares become ex-dividend on May 31.
PEP Dividend Yield: 2.9%
Cardinal Health Inc (NYSE:CAH) raised its quarterly dividend by 3%, increasing it from 44.89 cents per share to 46.24 cents. The pharmaceutical distributor will pay its higher dividend to shareholders of record as of July 3 on July 15. CAH shares will trade ex-dividend on June 29.
CAH Dividend Yield: 2.6%
Phillips 66 (NYSE:PSX) grew its quarterly dividend from 63 cents per share to 70 cents, representing a raise of 11%. The energy manufacturer and services provider will pay out its higher dividends to shareholders of record as of May 18 on June 1. PSX shares trade ex-dividend on May 16.
PSX Dividend Yield: 3.5%
Macquarie Infrastructure Corp (NYSE:MIC) announced a 2% increase to its quarterly dividend, raising it from $1.29 per share to $1.31. Dividends will be paid from the provider of diversified infrastructure services on May 18 to shareholders of record as of May 15. MIC shares become ex-dividend on May 11.
MIC Dividend Yield: 6.5%
Expeditors International of Washington (NASDAQ:EXPD) moved its semi-annual dividend higher by 5%, increasing it by two pennies from 40 cents per share to 42 cents. The third-party transportation logistics provider will pay its higher dividend to shareholders of record as of June 1 on June 15. EXPD shares traded ex-dividend on May 30.
EXPD Dividend Yield: 1.6%
Baxter International Inc (NYSE:BAX) announced a 23% raise to its quarterly dividend, increasing it from 13 cents per share to 16 cents. Shareholders of record as of June 2 will receive their higher dividends on July 3 from the hospital products company. BAX shares will be ex-dividend on May 31.
BAX Dividend Yield: 1.15%
Principal Financial Group Inc (NYSE:PFG) announced a 2% raise to its quarterly dividend, increasing its payout from 45 cents per share to 46 cents. The provider of retirement, asset management, and insurance services will send its higher dividends out on June 30 to shareholders of record as of June 5. PFG shares will trade ex-dividend on June 1.
PFG Dividend Yield: 2.9%
Marriott International Inc (NASDAQ:MAR) increased its quarterly dividend by 10%, raising its payment to 33 cents per share from 30 cents. The lodging company will pay shareholders of record as of May 19 on June 30. The stock’s shares trade ex-dividend on May 17.
MAR Dividend Yield: 1.2%
Spectra Energy Partners, LP (NYSE:SEP) increased its quarterly dividend by 2% to 70.125 cents per share from 68.875 cents. Shareholders of record as of May 15 will receive dividends from the oil and gas transportation services provider on May 26. The company’s shares will go ex-dividend on May 11.
SEP Dividend Yield: 6.1%
As of the time of this writing, the author was long PEP.
