by Jim Woods | August 8, 2014 2:13 pm
This week’s bevy of dividend stocks increasing payouts contained two very familiar names.
Stalwart banking icon Bank of America (BAC) was the really big boy on the block boosting its payout, and it did so in grand fashion on Wednesday. The increased dividend has been long-awaited, especially considering the extreme circumstances surrounding bank stocks since the 2008 financial crisis and subsequent taxpayer bailout.
All told, 11 dividend stocks increased payouts this week (yield as of 8/8):
Bank of America raised its quarterly dividend 400% to 5 cents per share from 1 cent. BofA’s new dividend will be paid on Sept. 26 to shareholders of record as of Sept. 5. The stock goes ex-dividend Sept. 3.
BAC Dividend Yield: 1.32%.
Financial services technology and operations firm Broadridge Financial Solutions (BR) reconfigured its quarterly dividend by 28.6%, upping the payout to 27 cents per share from 21 cents. The new dividend will be paid on Oct. 1 to shareholders of record as of Sept. 15. The stock will go ex-dividend on Sept. 11.
BR Dividend Yield: 2.69%
Construction and industrial materials maker Carlisle Cos. (CSL) constructed a 13.6% increase in its quarterly payout, increasing the dividend to 25 cents per share. The new dividend payment will be sent on Sept. 1 to shareholders of record of Aug. 18. Shares go ex-dividend Aug. 14.
CSL Dividend Yield: 1.23%
The other iconic firm that boosted its dividend signal this week was CBS Corp. (CBS). The company, which owns the most-watched U.S. television network, increased its quarterly dividend 25% to 15 cents per share from 12 cents. The enhanced dividend is payable Oct. 1 to shareholders of record on Sept. 10. In addition to the increased dividend, CBS also doubled its share buyback program from $3 billion to $6 billion.
CBS Dividend Yield: 1.01%
Cogent Communication (CCOI) is a provider of Internet access services, and this week the company increased the download data on its dividend by 76.5%. The new dividend of 30 cents per share vs. the prior 17 cents will be paid on Sept. 19 to shareholders of record as of Aug. 29. The stock will go ex-dividend Aug. 27.
CCOI Dividend Yield: 3.54%
Financial products firm Manulife Financial Corp. (MFC) restated its quarterly dividend and added another 19.2% to its payout. The new dividend of 15.5 cents vs. the prior 13 cents is slated form payment on Sept. 19 to shareholders of record as of Aug. 19. The stock will go ex-dividend on Aug. 15.
MFC Dividend Yield: 3.12%
Frozen food and specialty products maker Pinnacle Foods (PF) cooked up an 11.9% boost in its quarterly dividend to 23.5 cents per shares from 21 cents. The new dividend is payable Oct. 7 to shareholders at the dinner table by Aug. 29. The stock will goes ex-dividend Aug. 27.
PF Dividend Yield: 3.06%
Russian mobile and online payment services company Qiwi (QIWI) has the misfortune of being caught up in geopolitical tensions. Yet despite the country’s government stirring up the bellicosity in Ukraine, the company decided to boost up its dividend payment by 50%. The new dividend of 48 cents per share vs. the previous 32 cents is slated to be sent Aug. 19 to shareholders of record as of Aug. 18. The stock will go ex-dividend on Aug. 14.
QIWI Dividend Yield: 3.67%
Midstream energy services firm Semgroup Corp. (SEMG) turned up the energy on its payout, increasing its quarterly dividend to 27 cents per share from 24 cents. The new dividend represents a 12.5% increase, which will be paid out on Aug. 28 to shareholders of record as of Aug. 18. The stock’s ex-dividend date is Aug. 14.
SEMG Dividend Yield: 1.37%
While CBS was the behemoth broadcaster boosting dividends this week, the sector also saw diversified TV company Sinclair Broadcast Group (SBGI) raise its quarterly payout. The 10% dividend increase to 16.5 cents from 15 cents is scheduled for Sept. 15 to shareholders of record as of Aug. 29. The stock will go ex-dividend on Aug. 27.
SBGI Dividend Yield: 2.05%
Natural gas pipeline company Spectra Energy Partners, LP (SEP) upped its quarterly dividend 1.8% to 56.625 cents per share from 55.625. The new payout will be made Aug. 29 to shareholders of record as of Aug. 18. The LP’s ex-dividend date is Aug. 14.
SEP Dividend Yield: 4.24%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.
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