In a week in which many Americans were worried about the growing threat from Islamic militants in Iraq and Syria, and when we all had the sad remembrance of the horrific events of 9/11, there still was at least a little good news to focus on courtesy of some very large dividend stocks increasing their payouts.
Atop the pack of payout performers this week was a global tobacco giant, and one of the world’s biggest fast-food restaurant operators.
By far the largest of the companies increasing dividends this week was global cigarette seller Philip Morris International (PM). The tobacco behemoth lit up a 6.4% increase in its quarterly dividend to $1 per share from 94 cents per share. The hotter dividend will be delivered on Oct. 10 to shareholders of record as of Sept. 25. The stock will go ex-dividend on Sept. 23.
Philip Morris has long been a dividend powerhouse, and the company’s shares offer an outstanding dividend yield of 4.77%, making it a great choice for income-hungry investors.
Alongside big tobacco’s dividend increase this week was a payout bump from diversified fast-food restaurant operator Yum Brands (YUM). The company — which owns the KFC, Pizza Hut and Taco Bell chains, among many others — increased the fiscal sugar content in its quarterly dividend payment by 10.8%.
Yum Brands served up a new 41 cent-per-share dividend, up from the previous 37 cents. The new dividend is payable Nov. 7 to shareholders of record as of Oct. 17. Yum shares go ex-dividend on Oct. 15. The dividend yield on YUM shares is 2.29%.
In addition to Philip Morris and Yum Brands, there were five other big-name dividend stocks increasing their payouts.
Specialty materials firm Brady Corp. (BRC) added 2.6% to its quarterly payout, upping its dividend to 20 cents per share from 19.5 cents. The new payment will be sent on Oct. 31 to shareholders of record as of Oct. 10. The stock becomes ex-dividend on Oct. 8.
BRC Dividend Yield: 3.25%
Furniture manufacturer Flexsteel Industries (FLXS) redesigned the fiscal decorations on its dividend, upping its quarterly dividend by 20% to 18 cents per share from 15 cents. The new dividend is scheduled for payment on Oct. 3 to shareholders of record as of Sept. 19. The stock goes ex-dividend on Sept. 17.
FLXS Dividend Yield: 2.03%
International Paper (IP) is likely the manufacturer of the paper in your copy machine, and the paper used to package the goods you just bought from Amazon.com (AMZN). This week, the company put a new wrapper on its quarterly dividend, increasing its payment 14% to 40 cents from 35 cents. The new dividend is payable Dec. 15 to shareholders of record as of Nov. 17. IP shares go ex-dividend on Nov. 13.
IP Dividend Yield: 3.22%
Film production company Lions Gate Entertainment (LGF) announced a new fiscal hit for shareholders featuring a 40% increase in its quarterly dividend, to 7 cents per share from 5 cents. The new dividend is set to premiere Nov. 7 to shareholders of record as of Sept. 30. LGF goes ex-dividend Sept. 26.
LGF Dividend Yield: 0.84%
Cruise ship operator Royal Caribbean Cruises (RCL) set its dividend to sail this week, upping the horsepower on its quarterly payment by 20% to 30 cents per share from 25 cents. The new payment will arrive on shareholders’ docks Oct. 2, provided they are recorded owners as of Sept. 22. The shares go ex-dividend Sept. 18.
RCL Dividend Yield: 1.79%
As of this writing, Jim Woods was long PM.
