Earnings season began in earnest last week, with scores of companies reporting results. So far, the numbers have been stellar, and they’ve helped give the market a boost despite rating agency Standard & Poor’s downgrade of its U.S. government debt outlook.

Along with those stellar earnings in the holiday-shortened week came a big batch of companies increasing dividends.

Perhaps the biggest name among last week’s payout performers was Dow component Travelers (NYSE:TRV). The insurance giant lifted its dividend while also reporting a first-quarter profit that topped analysts’ expectations. The new dividend of 41 cents a share is a 14% increase over the prior quarter’s payout. Travelers also bought back 18.9 million shares at a price tag of $1.1 billion during the quarter.

Another huge company fattening up shareholders wallets last week was mega-bank Wells Fargo (NYSE:WFC). The company reported a sharp rise in first-quarter profit but also saw declining revenue. On the dividend front, Wells upped its payout to 12 cents a share, an increase of about 140% over its prior dividend. The new dividend is payable June 1 to shareholders of record on May 6.

Paint, coatings and specialty chemical firm PPG Industries (NYSE:PPG) reported a big surge in first-quarter net income on strong demand and higher prices for its industrial products. The company gave shareholders a fresh coat of dividends as well, raising its quarterly payout to 57 cents a share from 55 cents. The new dividend is payable June 10 to shareholders of record as of May 10.

Electricity producer Southern Co. (NYSE:SO) is yet another massive firm that energized its quarterly payout last week. The company juiced up its dividend to 47.25 cents a share. The new payout will be made on June 6 to shareholders of record as of May 2. It was the 254th consecutive quarter of dividend payouts to Southern shareholders.

In addition to the aforementioned corporate giants, there were a host of other companies increasing dividends last week.

Applied Industrial Technologies (NYSE:AIT).  The diversified industrial products maker raised its quarterly payout by two pennies to 19 cents a share. The new dividend is payable on May 31 to shareholders of record on May 16. 

El Paso Partners (NYSE:EPB). The natural gas transportation and storage partnership declared a 46 cent-a-unit quarterly cash, a 21% increase from the 38 cents a unit paid a year ago. The new distribution will be paid May 13 to unitholders of record as of April 29.

Janus Capital (NYSE:JNS). The asset management firm reported a big surge in first-quarter profit of 21%, and shared part of that with stockholders by raising its quarterly dividend payout to 5 cents a share from 1 cent.

Kinder Morgan Energy Partners (NYSE:KMP). The energy company, which specializes in fuel transportation, fueled up unitholders by raising its quarterly cash distribution to $1.14. The new payout will be made on May 13 to unitholders of record as of April 29. The distribution represents a 7% increase over the first quarter 2010 distribution. KMP has increased its distribution 40 times since 1997.

Markwest Energy Partners (NYSE:MWE). The company raised its quarterly distribution to shareholders by 3% to 67 cents per common unit. The new payout will be made on May 13 to unitholders of record on May 2.

Oneok Partners (NYSE:OKS). One of the biggest natural gas companies also increased its quarterly cash distribution to $1.15 per unit from $1.14 per unit. The new payout will be maid on May 13 to unitholders of record as of April 29.

People’s United Financial (NASDAQ:PBCT). The banking and financial firm saw solid first-quarter earnings on the back of strength in its loan business. The company also raised its quarterly dividend by a penny to 15.75 cents per share. The new dividend is payable May 15 to shareholders of record on May 1.

Sonoco Products (NYSE:SON). The packaging products maker put a new package together for shareholders in the form of a cash distribution of 51 cents a unit. The new distribution is payable May 12 to unitholders of record on May 2.

Spectra Energy Partners (NYSE:SEP). Yet another natural gas partnership boosting its payout last week, Spectra lifted its quarterly cash distribution to 46 cents a unit, or a 2.2% increase over the prior quarter. The new cash distribution is payable on May 13 to unitholders of record on May 3.

Susquehanna Bancshares (NASDAQ:SUSQ). The bank holding company declared a second-quarter dividend of 2 cents a share, a boost from the previous 1 cent dividend paid out quarterly since late 2009. The new dividend is payable on May 20 to shareholders of record on May 3.

Teekay Offshore Partners (NYSE:TOO). The offshore oil drilling services firm declared a cash distribution of 50 cents per unit for the quarter ended March 31. The new payout represents a 5.3% increase from the previous quarter. The cash distribution is payable on May 13 to unitholders of record on May 6.

Western Gas Partners (NYSE:WES). The midstream energy partnership boosted its quarterly cash distribution to 39 cents a unit, an increase of 3% over the prior quarter. The new distribution is payable on May 13 unitholders of record on April 29.

Whirlpool (NYSE:WHR). The appliance maker put its quarterly payout in the washer and dryer, and that payout came out 16.3% cleaner to 50 cents a share from 43 cents. The fluffed-up dividend will be paid on June 15 to shareholders of record on May 20.

Williams Partners (NYSE:WPZ). This natural gas partnership fired up its quarterly distribution to unitholders to 71.75 cents per unit, or a 2% increase over the prior quarter’s payout. The new distribution is payable on May 13 to unitholders of record at the close of business on May 6.

At the time of publication, Jim Woods held no positions in any of the stocks mentioned in this article.