Generally positive earnings reports helped the market edge higher on the week and extend its rally. In addition to continued gains in stock prices, a number of major dividend stocks rewarded investors with higher dividends.
Eight notable dividend stocks increased their payouts over the last week, including a handful of major banks, a global snack company, and two energy-focused master limited partnerships.
Here are eight dividend stocks increasing payouts.
National Retail Properties, Inc. (NYSE:NNN) increased its dividend by 5%, raising its quarterly payment to 45.5 cents per share from 43.5 cents. The retail-focused REIT will pay shareholders of record as of July 29 on Aug. 15. The stock’s shares trade ex-dividend on July 27.
NNN Dividend Yield: 3.50%
Mondelez International Inc (NASDAQ:MDLZ) boosted its quarterly dividend by 12%, raising it from 17 cents per share to 19 cents. Dividends will be paid from the global snack company on Oct. 13 to shareholders of record as of Sep. 30. MDLZ shares become ex-dividend on Sep. 28.
MDLZ Dividend Yield: 1.5%
Citigroup Inc (NYSE:C) increased its quarterly dividend soaring by 220% to 16 cents per share from 5 cents. Shareholders of record as of Aug. 1 will receive dividends from the global financial services provider on Aug. 26. The company’s shares go ex-dividend on July 28.
C Dividend Yield: 1.46%
Morgan Stanley (NYSE:MS) sent its quarterly dividend higher by a nickle, increasing it by 33% from 15 cents per share to 20 cents. The banking and brokerage services firm will pay its higher dividend to shareholders of record as of July 29 on Aug. 15. MS shares trade ex-dividend on July 27.
MS Dividend Yield: 2.78%
Northern Trust Corporation (NASDAQ:NTRS) rewarded shareholders with a 6% boost to its quarterly dividend, increasing it from 36 cents per share to 38 cents. Shareholders of record as of Sep. 2 will receive their higher dividends on Oct. 1 from the investment management firm. The company’s shares will be ex-dividend on Aug. 31.
NTRS Dividend Yield: 2.28%
Phillips 66 Partners LP (NYSE:PSXP) announced a 5% raise to its quarterly dividend, bringing its payout up from 48.1 cents per share to 50.5 cents. The operator of crude oil and refined petroleum pipelines will send its higher dividends out on Aug. 12 to shareholders of record as of Aug. 3. PSXP shares will trade ex-dividend on Aug. 1.
PSXP Dividend Yield: 3.72%
Reliance Steel & Aluminum Co (NYSE:RS) sent its quarterly dividend 6% higher, increasing its payment from 40 cents per share to 42.5 cents. Shareholders of record as of Aug. 12 will receive dividends from the metals service center on Sep. 9. RS shares will be ex-dividend on Aug. 10.
RS Dividend Yield: 2.24%
Shell Midstream Partners LP (NYSE:SHLX) grew its quarterly dividend from 23.5 cents per share to 25 cents per share, representing a raise of 6%. The crude oil pipeline operator will pay out its higher dividends to shareholders of record as of Aug. 1 on Aug. 12. SHLX shares will trade ex-dividend on July 28.
SHLX Dividend Yield: 3.04%
As of this writing, Simply Safe Dividends was long NNN and RS.
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