A solid jobs report capped off another week of gains for the S&P 500, which climbed higher four out of the five days this week. Even better, a handful of dividend stocks announced higher payouts during the work week.
Let’s take a look at seven dividend stocks increasing payouts over the past week.
Big Lots, Inc. (BIG) hiked its quarterly dividend by 11% to 21 cents per share from 19 cents. The discount retailer will pay its dividends out on April 1 to shareholders of record as of March 18. BIG shares trade ex-dividend on March 16.
BIG Dividend Yield: 1.84%
Pattern Energy Group Inc (PEGI) announced a modest 2% increase to its quarterly dividend, sending its payment up from 37.2 cents per share to 38.1 cents. Shareholders of record as of March 31 will receive dividends from the utility power producer on April 29. PEGI shares will be ex-dividend on March 29.
PEGI Dividend Yield: 8.18%
Ross Stores, Inc. (ROST) sent through a generous 15% dividend increase, raising its quarterly dividend to 13.5 cents per share from 11.75 cents. The off-price retailer will pay shareholders of record as of March 14 on March 31. The stock’s shares trade ex-dividend on March 10.
ROST Dividend Yield: 0.93%
InfraREIT Inc (HIFR) raised its quarterly dividend from 22.5 cents per share to 25 cents, representing a nice 11% increase. Shareholders of record as of March 31 will receive higher dividends from the utility-focused real estate investment trust on April 21. HIFR shares become ex-dividend on March 29.
HIFR Dividend Yield: 6.47%
General Dynamics Corporation (GD) shot its quarterly dividend higher by 10%, raising its payout from 69 cents per share to 76 cents. The increase marked General Dynamics’ 25th consecutive annual increase, qualifying it to join the dividend aristocrats list. Shareholders of record as of April 8 will receive dividends from the major aerospace and defense company on May 6. GD shares will trade ex-dividend on April 6.
GD Dividend Yield: 2.30%
Chatham Lodging Trust (CLDT) increased its monthly dividend by 10% to 11 cents per share from 10 cents. Shareholders of record as of March 31 will receive dividends from the hotel real estate investment trust on April 29. The company’s shares go ex-dividend on March 29.
CLDT Dividend Yield: 6.26%
Torchmark Corporation (TMK) hiked its quarterly dividend from 13.5 cents per share to 14 cents, representing an increase of 4%. The insurance provider will pay out its higher dividends to shareholders of record as of April 4 on April 29. TMK shares will be ex-dividend on March 31.
TMK Dividend Yield: 1.05%
As of this writing, Simply Safe Dividends did not hold a position in any of the aforementioned securities.