The market took a decidedly bearish turn last week, with the major averages down more than 3% across the board. Last week’s losses were largely the result of some profit taking after the super-strong gains in October.
A growing likelihood of a Federal Reserve rate hike in December also has some of the smart money trimming winning positions in anticipation. Despite last week’s selloff, there were still many high-profile dividend stocks increasing payouts.
Last week we saw dividend stocks in the restaurant, life insurance and financial services, and homebuilder sectors increasing payouts, as well as several other high-profile income-generating industries.
Here are eight dividend stocks increasing payouts.
Aaron’s (AAN) remodeled its dividend furnishings by 8.7% to 25 cents per share from 23 cents. The furniture leasing firm will make its new dividend payable Jan. 4 to shareholders of record as of Dec. 1. AAN will become ex-dividend on Nov. 27.
AAN Dividend Yield: 0.42%
Automatic Data Processing (ADP) increased shareholders’ paycheck by 8.2%, to 53 cents per share from 49 cents. The payroll and HR services firm will send the new dividend on Jan. 1 to shareholders of record as of Dec. 11. The stock becomes ex-dividend Dec. 9.
ADP Dividend Yield: 2.47%
DCT Industrial Trust (DCT) increased the rent it sends to shareholders by a penny, or 3.6%, to 29 cents per share from 28. The new dividend is payable on Jan. 7 to shareholders of record as of Dec. 24. The industrial REIT’s shares will go ex-dividend on Dec. 22.
DCT Dividend Yield: 3.19%
D.R. Horton (DHI) built a new dividend dwelling, increasing the fiscal square feet it pays shareholders by 28% to 8 cents per share from 6.25 cents. The homebuilder’s new dividend will be ready for delivery on Dec. 14 to occupants of record as of Nov. 30. The stock will go ex-dividend on Nov. 25.
DHI Dividend Yield: 1.03%
Group 1 Automotive (GPI) cleaned out its fiscal garage and found an additional dividend of a penny per share, a 4.8% increase to 22 cents from 21 cents. The auto dealership firm will make its new payment available on Dec. 15 to shareholders of record as of Dec. 1. GPI will go ex-dividend on Nov. 27.
GPI Dividend Yield: 1.08%
McDonald’s (MCD) went into its financial kitchen and cooked up a 4.7% bigger dividend to 89 cents per share per share from 85 cents. The fast-food giant’s new dividend will served up on Dec. 15 to shareholders of record as of Dec. 1. Mickey D’s shares will become ex-dividend on Nov. 27.
MCD Dividend Yield: 3.23%
Prudential Finance (PRU) cranked up the premiums it pays shareholders by 20.7% to 70 cents per share from 58 cents. The life insurance and financial services giant will send its new dividend on Dec. 17 to owners of record as of Nov. 24. Prudential shares become ex-dividend on Nov. 20.
PRU Dividend Yield: 3.31%
Snap-On (SNA) has retooled its dividend payment by 15.1% to 61 cents per share from 53 cents. The tool and equipment maker’s new dividend wrench will ready to use on Dec. 10 to shareholders of record as of Nov. 24. SNA shares will go ex-dividend on Nov. 20.
SNA Dividend Yield: 1.47%
As of this writing, Jim Woods did not hold a position in any of the aforementioned securities.
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