A strong report on the U.S. labor market sent stocks higher on the holiday-shortened week. To go along with the market’s rally, a number of companies also raised their dividends.
Here are four dividend stocks increasing payouts.
Greenbrier Companies Inc (NYSE:GBX) increased its dividend by 5%, raising its quarterly payment to 21 cents per share from 20 cents. The manufacturer of railroad freight car equipment will pay shareholders of record as of July 20 on August 10. The stock’s shares trade ex-dividend on July 18.
GBX Dividend Yield: 2.77%
Paychex, Inc. (NASDAQ:PAYX) boosted its quarterly dividend by 10%, raising it from 42 cents per share to 46 cents. Dividends will be paid from the provider of payroll and human resource services on August 25 to shareholders of record as of August 1. PAYX shares become ex-dividend on July 28.
PAYX Dividend Yield: 3.00%
Tallgrass Energy GP LP (NYSE:TEGP) increased its quarterly dividend by 17% to 24.5 cents per share from 21 cents. Shareholders of record as of July 29 will receive dividends from the provider of crude oil transportation services on August 12. The company’s shares go ex-dividend on July 27.
TEGP Dividend Yield: 4.17%
Bank of the Ozarks Inc (NASDAQ:OZRK) grew its quarterly dividend from 15.5 cents per share to 16 cents per share, representing a raise of 3%. The bank holding company will pay out its higher dividends to shareholders of record as of July 15 on July 22. OZRK shares will trade ex-dividend on July 13.
OZRK Dividend Yield: 1.73%
As of this writing, Simply Safe Dividends was long PAYX.