The S&P 500 Index’s post-election surged slowed down this week with the market remaining approximately flat. After a strong start to the week, the Federal Reserve’s decision to raise interest rates on Wednesday and their guidance for another two to three rate hikes in 2017 caused the market to give back some of its gains.
However, a number of businesses continued to reward income investors with good news.
Nine major dividend stocks raised their payouts over the last week, including two real estate investment trusts, two major pharmaceutical companies, two major industrial manufacturers, a pair of investment management firms, and a popular consumer goods business.
Here are nine dividend stocks increasing payouts.
General Electric Company (NYSE:GE) moved its quarterly dividend higher by one cent, increasing it by 4% from 23 cents per share to 24 cents. The industrial conglomerate will pay its higher dividend to shareholders of record as of Dec. 27 on Jan. 25. GE shares trade ex-dividend on Dec. 22.
GE Dividend Yield: 3%
Pfizer Inc. (NYSE:PFE) hiked its quarterly dividend by 7%, raising its payment from 30 cents per share to 32 cents. Shareholders of record as of Feb. 3 will receive dividends from the global pharmaceuticals manufacturer on March 1. PFE shares will be ex-dividend on Feb. 1.
PFE Dividend Yield: 3.9%
Realty Income Corp (NYSE:O) grew its monthly dividend from 20.2 cents per share to 20.25 cents, representing a small raise of 0.2%. The retail-focused real estate investment trust will pay out its higher dividends to shareholders of record as of Jan. 3 on Jan. 13. O shares are expected to trade ex-dividend on Dec. 29.
O Dividend Yield: 4.3%
Boeing Co (NYSE:BA) increased its quarterly dividend by 30% to $1.42 per share from $1.09. Shareholders of record as of Feb. 10 will receive dividends from the large commercial and military aircraft manufacturer on March 3. The company’s shares will go ex-dividend on Feb. 8.
BA Dividend Yield: 3.6%
Eli Lilly and Co (NYSE:LLY) raised its quarterly dividend up by a penny from 51 cents per share to 52 cents, representing a 2% increase. The major drug manufacturer will pay out its higher dividends to shareholders of record as of Feb. 15 on March 10. LLY shares will trade ex-dividend on Feb. 13.
LLY Dividend Yield: 2.88%
Franklin Resources, Inc. (NYSE:BEN) raised its quarterly dividend by 11%, increasing it from 18 cents per share to 20 cents. The investment management company will pay its higher dividend to shareholders of record as of Dec. 30 on Jan. 13. BEN shares will trade ex-dividend on Dec. 28.
BEN Dividend Yield: 2%
SEI Investments Company (NASDAQ:SEIC) announced an 8% increase to its semiannual dividend, raising it from 26 cents per share to 28 cents. Dividends will be paid from the wealth management and investment firm on Jan. 6 to shareholders of record as of Dec. 27. SEIC shares become ex-dividend on Dec. 22.
SEIC Dividend Yield: 1.1%
WD-40 Company (NASDAQ:WDFC) rewarded shareholders with a 17% raise to its quarterly dividend, increasing it from 42 cents per share to 49 cents. Shareholders of record as of Jan. 20 will receive their higher dividends on Jan. 31 from the manufacturer of branded household products. WDFC shares will be ex-dividend on Jan. 18.
WDFC Dividend Yield: 1.7%
American Tower Corp (NYSE:AMT) increased its quarterly dividend by 6%, raising its payment to 55 cents per share from 58 cents. The real estate investment trust and owner of wireless communications towers will pay shareholders of record as of Dec. 28 on Jan. 13. The stock’s shares trade ex-dividend on Dec. 23.
AMT Dividend Yield: 2.2%
As of the time of this writing, the author was long GE and BA stock.
