Stocks did an about-face last week from the prior week, with the major averages selling off hard on a combination of “just OK” earnings reports, a big slide in commodities and the growing likelihood of a September rate hike by the Fed. For income investors, the down week was a mere backdrop to the bevy of big-name dividend stocks increasing payouts.
Last week’s dividend stocks include a mega-packaged food and cereal firm, one of the largest retail REITs, a distribution facility REIT that happens to be the world’s largest and a familiar restaurant chain you’ve likely eaten at least once.
Here are 14 dividend stocks increasing payouts.
BBCN Bancorp (BBCN) upped the ante to shareholders by a penny, raising Bancorp’s dividend to 11 cents per share from 10 cents previously. The commercial bank that focuses on Korean communities in the U.S. said the new dividend is payable Aug. 14 to owners of record as of July 31. BBCN becomes ex-dividend on July 29.
BBCN Dividend Yield: 2.91%
Cheesecake Factory (CAKE) cooked up a new dividend that’s 21.2% sweeter, to 20 cents per share from 16.5 cents. The restaurant chain will serve the new payment Aug. 18 to dividend diners at the table as of Aug. 5. CAKE shares go ex-dividend on Aug. 3.
CAKE Dividend Yield: 1.18%
Chemical Financial (CHFC) went into the fiscal lab and came out with an 8.3% bigger dividend to 26 cents per share from 24 cents. The Michigan-based bank holding company will send the new dividend on Sept. 18 to shareholders of record as of Sept. 4. The stock will be ex-dividend on Sept. 2.
CHFC Dividend Yield: 2.90%
Fidelity National Financial (FNF) reworked its quarterly dividend to be 10.5% bigger, to 21 cents per share from 19 cents. The title and specialty insurance firm will pay the new dividend on Sept. 30 to shareholders of record as of Sept. 16. FNF becomes ex-dividend on Sept. 14.
FNF Dividend Yield: 2.15%
Kellogg Co. (K) served up a 2% bigger dividend cereal bowl to 50 cents per share from 49 cents. The packaged snack food giant will make its new payout available on Sept. 15 to shareholders of record as of Sept. 1. Kellogg shares will be ex-dividend on Aug. 28.
K Dividend Yield: 3.06%
Magellan Midstream Partners (MMP) transports refined petroleum products. Last week the company transported a 3.1% bigger dividend to 74 cents per share from 71.75 cents. Magellan will make the new dividend payable on Aug. 14 to shareholders of record as of Aug. 7. MMP shares go ex-dividend on Aug. 5.
MMP Dividend Yield: 4.34%
Phillips 66 Partners (PSXP) transported an 8.1% bigger dividend to 40 cents per share from 37 cents per share. The petroleum and natural gas transport subsidiary of Phillips 66 said it will deliver its new dividend on Aug. 12 to shareholders of record as of Aug. 3. The stock goes ex-dividend on July 30.
PSXP Dividend Yield: 2.63%
Prologis (PLD) is the world’s largest REIT focused on distribution facilities, and last week the company said it would distribute an 11.1% larger dividend to 40 cents per share from 36 cents. The new dividend is payable Sept. 30 to shareholders of record as of Sept. 18. PLD shares go ex-dividend on Sept. 16.
PLD Dividend Yield: 4.03%
Sensient Technologies (SXT) added a more seductive scent to its dividend, increasing the fiscal aroma by 8% to 27 cents per share from 25 cents. The manufacturer and marketer of colors, flavors and fragrances said the new dividend will be payable on Sept. 1 to shareholders of record as of Aug. 7. SXT shares go ex-dividend on Aug. 5.
SXT Dividend Yield: 1.66%
Simon Property Group (SPG) increased the rent it pays shareholders by 3.3% to $1.55 per share from $1.50. The retail property REIT will make its new payment available on Aug. 31 to shareholders of record as of Aug. 17. Simon shares will become ex-dividend on Aug. 13.
SPG Dividend Yield: 3.33%
Stanley Black & Decker (SWK) retooled its dividend by 5.8% to 55 cents per share from 52 cents. The new power-and-hand toolmaker will make the new dividend build payable on Sept. 22 to shareholders of record as of Sept. 4. Stanley shares go ex-dividend Sept. 2.
SWK Dividend Yield: 2.10%
Sunoco Logistics Partners (SXL) upped its dividend 4.5% to 43.8 cents per share from 41.9 cents. The petroleum transport and storage firm will release the more potent dividend fuel blend on Aug. 14 to shareholders of record as of Aug. 10. Sunoco shares will be ex-dividend on Aug. 6.
SXL Dividend Yield: 4.96%
Targa Resources (TRGP) pumped out a 5.4% bigger dividend to 87.5 cents per share from 83 cents. The natural gas transport firm will make the new payment on Aug. 17 to shareholders of record as of Aug. 3. TRGP shares become ex-dividend July 30.
TRGP Dividend Yield: 4.09%
Targa Resources Partners LP (NGLS) is the oil and gas pipeline counterpart to TRGP, and the partnership also announced a bigger payment to shareholders of 0.6% to 82.5 cents per share from 82 cents. The pipeline firm also will make the new payment on Aug. 14 to shareholders of record as of Aug. 3. NGLS shares also become ex-dividend on July 30.
NGLS Dividend Yield: 8.73%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities. You can check out previous lists of dividend stocks increasing payouts here.
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