The market took a few licks last week as traders weren’t too happy about lukewarm earnings reports, nor were they thrilled about the July jobs report giving more credence to the Fed raising rates for the first time in nearly a decade. The somewhat downbeat background, however, didn’t stop a bevy of high-profile dividend stocks from announcing payment increases.
If (when) the Fed does raise rates, these dividend stocks are a nice place to put your money to continue growing your income over time.
Here are nine dividend stocks increasing payouts:
American International Group (AIG) made a big statement with shareholders, boosting its dividend 124% to 28 cents per share from 12.5 cents. The insurance behemoth will pay its new dividend policy to shareholders on Sept. 28 to owners of record as of Sept. 14. AIG shares become ex-dividend on Sept. 10.
AIG Dividend Yield: 0.78%
Monsanto Company (MON) sowed the seeds of a bumper crop for shareholders with a 10.2% bigger dividend to 54 cents per share from 49 cents. The agricultural products giant will begin planting the new dividend on Oct. 30 to shareholders of record as of Oct. 9. Monsanto shares will go ex-dividend on Oct. 7.
MON Dividend Yield: 1.90%
Carlisle Co. (CSL) reconstructed its dividend by 20% to 30 cents per share from 25 cents. The construction materials firm will pay the new dividend on Sept. 1 to shareholders of record as of Aug. 18. CSL goes ex-dividend on Aug. 14.
CSL Dividend Yield: 1.17%
Chemed Corp (CHE) operates hospice facilities, but it also operates one of the biggest plumbing companies in the country — Roto Rooter. The odd combination teamed up for a 9.1% increase in the quarterly dividend, from 22 cents to 24 cents per share. CHE’s new dividend is payable on Sept. 4 to shareholders of record as of Aug. 17. CHE will become ex-dividend on Aug. 13.
CHE Dividend Yield: 0.53%
Dover (DOV) turned up the dial on its dividend by 5% to 42 cents per share from 40 cents. The industrial products and engineered services firm will make its new payment available Sept. 15 to shareholders of record as of Aug. 31. DOV becomes ex-dividend on Aug. 27.
DOV Dividend Yield: 2.55%
Illinois Tool Works (ITW) retooled its payment to shareholders by 13.4% to 55 cents per share from 48.5 cents. The diversified tool and construction equipment maker will make its new dividend available Oct. 6 to shareholders of record as of Sept. 30. ITW goes ex-dividend on Sept. 28.
ITW Dividend Yield: 2.13%
International Flavors & Fragrances (IFF) added some spice to its dividend, upping the potency by 19.1% to 56 cents per share from 47 cents. The new payment will be sent Oct. 6 to shareholders of record as of Sept. 25. IFF shares will be ex-dividend Sept. 23.
IFF Dividend Yield: 1.89%
Scotts Miracle-Gro Co. (SMG) fertilized its payment to shareholders by 4.4% to 47 cents per share from 45 cents. The diversified agricultural chemical firm will make its new dividend payment on Sept. 10 to shareholders of record as of Aug. 27. SMG becomes ex-dividend Aug. 25.
SMG Dividend Yield: 2.72%
Tesoro (TSO) turned up the heat on its quarterly dividend by 17.6% to 50 cents per share from 42.5 cents. The petroleum products refiner will pump out the new payment on Sept. 14 to shareholders of record as of Aug. 28. TSO goes ex-dividend on Aug. 26.
TSO Dividend Yield: 1.86%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.