A broad-based price surge on Friday sent the S&P 500 Index on track to close higher for the third straight week. Investors cheered the Organization of Petroleum Exporting Countries’ decision to cut oil production for the first time in roughly eight years on Wednesday, and financial shares were also bid up on Friday in a relief rally. Furthermore, all but one of the dividend stocks below rewarded investors with double-digit dividend raises.
Six notable companies increased their payouts last week, including a popular fast food restaurant chain and a well-known credit card provider.
Here are five dividend stocks increasing payouts.
American Express Company (NYSE:AXP) boosted its quarterly dividend by 10%, raising it from 29 cents per share to 32 cents. Dividends will be paid from the provider of credit card services on Nov. 10 to shareholders of record as of Oct. 7. AXP shares become ex-dividend on Oct. 5.
AXP Dividend Yield: 2.00%
Accenture Plc (NYSE:ACN) raised its semi-annual dividend by 10%, increasing it from $1.10 per share to $1.21. The provider of consulting and outsourcing services will pay its higher dividend to shareholders of record as of Oct. 18 on Nov. 15. ACN shares are expected to trade ex-dividend on Oct. 14.
ACN Dividend Yield: 1.98%
Masco Corp (NYSE:MAS) increased its quarterly dividend by 5% to 10 cents per share from 9.5 cents. Shareholders of record as of Oct. 14 will receive dividends from the home improvement and building products manufacturer on Nov. 14. The company’s shares go ex-dividend on Oct. 12.
MAS Dividend Yield: 1.17%
YUM! Brands, Inc. (NYSE:YUM) increased its quarterly dividend by 11%, raising its payment to 51 cents per share from 46 cents. The KFC, Taco Bell and Pizza Hut restaurant owner will pay shareholders of record as of Oct. 19 on Nov. 4. The stock’s shares trade ex-dividend on Oct. 17.
YUM Dividend Yield: 2.24%
OGE Energy Corp. (NYSE:OGE) hiked its quarterly dividend by 10%, raising its payment from 27.5 cents per share to 30.25 cents. Shareholders of record as of Oct. 11 will receive dividends from the electric utility and natural gas midstream operator on Oct. 28. OGE shares will be ex-dividend on Oct. 6.
OGE Dividend Yield: 3.80%
As of this writing, Simply Safe Dividends was long ACN.