Following a rough post-Brexit day of losses on Monday, the market strung together a sharp rally to finish the week higher. Along with the rise in stock prices, a handful of companies also raised their dividends.
Here are five dividend stocks increasing payouts.
Dividend Stocks Increasing Payouts
General Mills, Inc. (NYSE:GIS) rewarded shareholders with a 4% boost to its quarterly dividend, increasing it from 46 cents per share to 48 cents. Shareholders of record as of July 11 will receive their higher dividends on Aug. 1 from the manufacturer of consumer foods. The company’s shares will be ex-dividend on July 7.
GIS Dividend Yield: 2.68%
Bank of America Corp (NYSE:BAC) raised its quarterly dividend up from 5 cents per share to 7.5 cents, representing a healthy 50% increase. The large provider of banking and financial services has historically paid its third-quarter common stock dividend in September but has not yet released specific ex-dividend and payable dates.
BAC Dividend Yield: 2.26%
Worthington Industries, Inc. (NYSE:WOR) grew its quarterly dividend from 19 cents per share to 20 cents per share, representing a raise of 5%. The steel manufacturer will pay out its higher dividends to shareholders of record as of Sept. 15 on Sept. 29. WOR shares will trade ex-dividend on Sept. 13.
WOR Dividend Yield: 1.83%
Empire Resources Inc (NASDAQ:ERS) sent its quarterly dividend higher by 1.5 cents, increasing it by 60% from 2.5 cents per share to 4 cents. The aluminum and steel products distributor will pay its higher dividend to shareholders of record as of July 14 on July 22. ERS shares trade ex-dividend on July 12.
ERS Dividend Yield: 4.3%
Global Water Resources, Inc. (NASDAQ:GWRS) announced a 10% raise to its monthly dividend, bringing its payout up from 2 cents per share to 2.2 cents. The water resource management company will send its higher dividends out on July 29 to shareholders of record as of July 15. GWRS shares will trade ex-dividend on July 13.
GWRS Dividend Yield: 3.02%
At the time of this writing, Simply Safe Dividends was long GIS stock.