Oil’s climb back to above $50 per barrel wasn’t enough to send the S&P 500 higher on the week. All eyes were on Friday’s job report, which came in just a bit below expectations but was strong enough to leave most investors expecting another rate increase from the Fed by the end of the year, according to Fed Fund futures data. While stock performance remains somewhat mixed, a number of dividend stocks sent a clear message with payout raises.
Seven notable companies increased their dividends over the last week, including two midstream energy companies, two financial services firms, and a couple of industrial equipment and service providers.
Here are seven dividend stocks increasing payouts.
Enterprise Products Partners L.P. (NYSE:EPD) increased its quarterly dividend by 5% to 10 cents per share from 9.5 cents. Shareholders of record as of Oct. 31 will receive dividends from the provider of midstream energy services on Nov. 7. The company’s shares go ex-dividend on Oct. 27.
EPD Dividend Yield: 6.04%
American Financial Group Inc (NYSE:AFG) hiked its quarterly dividend by 12%, raising its payment from 28 cents per share to 31.25 cents. Shareholders of record as of Oct. 14 will receive dividends from the property and casualty insurance provider on Oct. 25. AFG shares will be ex-dividend on Oct. 12.
AFG Dividend Yield: 1.64%
Bank of the Ozarks Inc (NASDAQ:OZRK) raised its quarterly dividend up from 16 cents per share to 16.5 cents, representing a 3% boost. The Arkansas-based bank holding company will pay out its higher dividends to shareholders of record as of Oct. 14 on Oct. 21. OZRK shares will trade ex-dividend on Oct. 12.
OZRK Dividend Yield: 1.64%
Watsco Inc (NYSE:WSO) increased its quarterly dividend by 24%, raising its payment to $1.05 per share from 85 cents. The distributor of heating, air conditioning, and refrigeration equipment and supplies will pay shareholders of record as of Oct. 17 on Oct. 31. The stock’s shares trade ex-dividend on Oct. 13.
WSO Dividend Yield: 2.89%
LTC Properties Inc (NYSE:LTC) boosted its monthly dividend by 6%, raising it from 18 cents per share to 19 cents. Dividends will be paid from the healthcare-focused real estate investment trust on Oct. 31 to shareholders of record as of Oct. 21. LTC shares become ex-dividend on Oct. 19.
LTC Dividend Yield: 4.41%
Genesis Energy, L.P. (NYSE:GEL) raised its quarterly dividend by 1%, increasing it from 69 cents per share to 70 cents. The limited partnership that is focused on midstream energy markets will pay its higher dividend to shareholders of record as of Oct. 28 on Nov. 14. GEL shares will trade ex-dividend on Oct. 26.
GEL Dividend Yield: 7.71%
AZZ Inc (NYSE:AZZ) moved its quarterly dividend higher by two pennies, increasing it by 13% from 15 cents per share to 17 cents. The provider galvanizing services, welding solutions and electrical equipment will pay its higher dividend to shareholders of record as of Oct. 18 on Nov. 1. AZZ shares trade ex-dividend on Oct. 14.
AZZ Dividend Yield: 1.18%
Disclosure as of this writing, Simply Safe Dividends did not hold a position in any of the aforementioned securities.