19 Companies Increasing Dividends

A deal to bailout Greece, solid GDP numbers and a flood of robust corporate earnings reports was the backdrop for this week’s big surge in the equity markets. Stocks took flight on Thursday after news that European leaders had reached an agreement to shore up the region’s financial exposure to the dangerous Greek debt situation. Stocks on the Dow surged 340 points on that day, while stocks in the broader S&P 500 finished the session up 3.4%.  Stocks locked in their gains Friday with a mild up day to end the week.

The bullish climate in the final week of October punctuates one of the best months ever for stocks, and it serves as a great milieu for the battalion of companies boosting dividends. Here are 19 companies increasing dividends this week.

Insurance giant Aflac (NYSE:AFL) raised its quarterly dividend 10% to 33 cents per share from 30 cents. The new dividend will be paid on Dec. 1 to shareholders of record as of Nov. 16. The new dividend yield, based on the Oct. 26 closing price of $43.03 (the day the dividend was announced), is 3.07%. The company also easily bested consensus earnings estimates for the third-quarter.

Utility behemoth American Electric Power (NYSE:AEP) boosted the voltage on its quarterly cash dividend to 47 cents a share, a penny more than the previous payout. The new dividend is payable Dec. 9 to shareholders of record as of Nov. 10. The new dividend yield, based on the Oct. 25 closing price of $38.65, is 4.86%. The dividend represents the 406th consecutive quarterly common stock cash dividend paid by the company.

Electronic components maker AVX Corp (NYSE:AVX) provided the conduit for a 36% increase in its quarterly dividend to 7.5 cents per common share. The new dividend will be paid on Nov. 18 to shareholders of record on Nov. 7. The new dividend yield, based on the Oct. 27 closing price of $13.83, is 2.17%.

Mining giant Barrick Gold (NYSE:ABX) unearthed a 25% increase in its quarterly payout, raising its dividend to 15 cents a share from 12 cents. The new payout will be made on Dec. 15 to shareholders of record as of Nov. 30. The new dividend yield, based on the Oct. 26 closing price of $47.85, is 1.25%. Barrick also reported a shiny 45% increase in its quarterly profit.

Oil giant Chevron Corp (NYSE:CVX) pumped out a 4% increase in its quarterly payout to 81 cents per share. The new dividend is payable Dec. 12 to shareholders of record as of Nov. 18. The move is the second dividend increase this year. The new dividend yield, based on the Oct. 26 closing price of $106.77, is 3.03%. Two days later Chevron reported a doubling of its quarterly earnings, and cited higher oil prices as the chief driver.

Tool and engineering component maker Kennametal Inc. (NYSE:KMT) tooled up a 17% increase in its dividend, upping its quarterly payout to 14 cents per share. The new dividend is payable Nov. 29 to shareholders of record as Nov. 8. The new dividend yield, based on the Oct. 27 closing price of $39.67, is 1.41%.

Regional shopping mall REIT Macerich Company (NYSE:MAC) upped its lease with shareholders, raising its quarterly dividend 10% to 55 cents per share. The new payout will be issued Dec. 8 to shareholders of record as of Nov. 11. The new dividend yield, based on the Oct. 27 closing price of $49.73, is 4.42%.

Refiner and transporter of petroleum products Marathon Petroleum Corporation (NYSE:MPC) poured out a higher dividend to shareholders, upping its payout by 25%. The new dividend of 25 cents per share is will be paid on Dec. 12 to shareholders of record as of Nov. 16. The new dividend yield, based on the Oct. 26 closing price of $34.73, is 2.88%.

Distributors of metalworking and maintenance supplies MSC Industrial Direct Co. (NYSE:MSM) announced a 3-cent per share dividend increase to 25 cents per share. The new payout will be made on Nov. 18 to shareholders of record at the close of business on Nov. 4. The new dividend yield, based on the Oct. 24 closing price of $68.8, is 1.45%.

Holding company for manufacturers of petroleum additives and lubricants NewMarket Corp. (NYSE:NEU) boosted its quarterly payout by 25% to 75 cents per share. The company will pay the new dividend on Jan. 1 to shareholders of record as of Dec. 15. The new dividend yield, based on the Oct. 27 closing price of $197.78, is 1.52%.

Copper and gold mining bellwether Newmont Mining (NYSE:NEM) lifted its quarterly dividend by 17% to 35 cents per share. The new payout will be made on Dec. 30 to shareholders of record as of Dec.8. The new dividend yield, based on the Oct. 26 closing price of $65.79, is 2.13%. The company also reported record third-quarter revenue of $2.7 billion, an increase of 6% from the $2.6 billion posted in the third quarter of 2010. However, net income in the quarter actually fell 8%.

Retirement, insurance and financial services provider Principal Financial Group (NYSE:PFG) sweetened the taste of ownership by upping its annual dividend 27% to 70 cents per share from 55 cents. The new dividend is payable on Dec. 2 to shareholders of record as of Nov. 10. The new dividend yield, based on the Oct. 27 closing price of $28.47, is 2.46%. The dividend increase came the same day Principal reported third-quarter earnings that missed expectations.

Diagnostic testing, information and services provider Quest Diagnostics (NYSE:DGX) diagnosed a 70% increase in its quarterly dividend to 17 cents per share. The new payout will be made on Jan. 24 to shareholders of record on Jan. 9. The new dividend yield, based on the Oct. 25 closing price of $56.50, is 1.20%.

Electronics retailer RadioShack (NYSE:RSH) turned up the dividend volume on its annual payout to shareholders by 100% to 50 cents per share. The company also changed the annual dividend payout to a quarterly payout.  The annual cash dividend is payable on Dec. 15 to shareholders of record at the close of business on Nov. 25. After that payment is made, dividends will begin start being distributed on a quarterly basis. The new dividend yield, based on the Oct. 25 closing price of $13.31, is 3.76%.

Oilfield services and equipment maker RPC Inc. (NYSE:RES) sold enough gear to independent oil and gas drilling companies in the third quarter that it announced a 25% increase in its quarterly dividend to 10 cents per share. The new dividend will be paid on Dec. 9 to shareholders of record as of Nov. 10. The new dividend yield, based on the Oct. 26 closing price of $17.60, is 2.27%. The company also said Q3 earnings soared by 80% on big demand and higher oil prices.

Real estate investment trust Simon Property Group (NYSE:SPG) is one of the biggest REITs around, and its prowess is showing up in its dividend. The operator of malls and other commercial properties raised its quarterly payout by 12.5% to 90 cents per share. The new dividend is payable on Nov. 30 to shareholders of record on Nov. 16. The new dividend yield, based on the Oct. 25 closing price of $121.11, is 2.97%.

Natural gas energy provider Spectra Energy (NYSE:SE) turned up the burner on its quarterly payout by 7.7% to 28 cents per share. The new dividend is payable on Dec. 12 to shareholders of record at the close of business on Nov. 11. The new dividend yield, based on the Oct. 25 closing price of $28.15, is 3.98%.

Electronic payment processing services firm Total Systems Services (NYSE:TSS) rang up a substantial 42.9% increase in its quarterly dividend, upping its payout to 10 cents per share. The new dividend is payable Jan. 3 to shareholders of record as of Dec. 15. The new dividend yield, based on the Oct. 25 closing price of $18.71, is 2.14%.

Apparel and footwear maker V.F. Corporation (NYSE:VFC) dressed up its quarterly dividend by 14%, boosting its payout to shareholders by 14% to 72 cents per share. The new dividend is payable on Dec. 19 to shareholders of record as of Dec. 9. The new dividend yield, based on the Oct. 24 closing price of $136.99, is 2.10%. The increase marks the 39th consecutive year of higher dividend payments to V.F. shareholders.

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


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