After a blistering rise immediately following the election in November, the S&P 500 Index has remained range-bound for more than a month. Investors were awaiting President Donald Trump’s inauguration and a slew of earnings reports coming up later in January. Despite the market’s stagnation, a number of companies continued paying higher dividends to shareholders.
Nine notable dividend stocks raised their payouts over the last week, including two real estate investment trusts, three energy services providers, two healthcare businesses and two utility companies.
Here are nine dividend stocks increasing payouts.
Realty Income Corp (NYSE:O) increased its monthly dividend by 4%, raising its payment to 21.05 cents per share from 20.25 cents. The retail-focused real estate investment trust will pay shareholders of record as of Feb. 1 on Feb. 15. The stock’s shares trade ex-dividend on Jan. 30.
O Dividend Yield: 4.2%
CVS Health Corp (NYSE:CVS) raised its quarterly dividend up from 42.5 cents per share to 50 cents, representing an 18% increase. The pharmacy benefit manager and retail chain will pay out its higher dividends to shareholders of record as of Jan. 24 on Feb. 2. CVS shares traded ex-dividend on Jan. 20.
CVS Dividend Yield: 2.4%
Shell Midstream Partners LP (NYSE:SHLX) raised its quarterly dividend by 5%, increasing it from 26.375 cents per share to 27.7 cents. The operator of crude oil pipeline systems will pay its higher dividend to shareholders of record as of Jan. 31 on Feb. 14. SHLX shares will trade ex-dividend on Jan. 27.
SHLX Dividend Yield: 3.6%
Consolidated Edison, Inc. (NYSE:ED) increased its quarterly dividend by 3% to 69 cents per share from 67 cents. Shareholders of record as of Feb. 15 will receive dividends from the electric and gas utility on March 15. The company’s shares will go ex-dividend on Feb. 13.
ED Dividend Yield: 3.8%
Phillips 66 Partners LP (NYSE:PSXP) announced a 5% increase to its quarterly dividend, raising it from 53.1 cents per share to 55.8 cents. Dividends will be paid from the provider of midstream energy services on Feb. 13 to shareholders of record as of Jan. 31. PSXP shares become ex-dividend on Jan. 27.
PSXP Dividend Yield: 4.3%
Zoetis Inc (NYSE:ZTS) rewarded shareholders with an 11% raise to its quarterly dividend, increasing it by a penny from 9.5 cents per share to 10.5 cents. Shareholders of record as of Jan. 20 will receive their higher dividends on March 1 from the manufacturer of veterinary drugs. ZTS shares went ex-dividend on Jan. 18.
ZTS Dividend Yield: 0.8%
Vornado Realty Trust (NYSE:VNO) moved its quarterly dividend higher by eight cents, increasing it by 13% from 63 cents per share to 71 cents. The office and residential real estate investment trust will pay its higher dividend to shareholders of record as of Jan. 30 on Feb. 15. VNO shares trade ex-dividend on Jan. 26.
VNO Dividend Yield: 2.7%
CMS Energy Corporation (NYSE:CMS) increased its quarterly dividend by 7%, raising its payment from 31 cents per share to 33.25 cents. Shareholders of record as of Feb. 3 will receive dividends from the electric and gas utility company on Feb. 28. CMS shares will be ex-dividend on Feb. 1.
CMS Dividend Yield: 3.2%
EQT Midstream Partners LP (NYSE:EQM) grew its quarterly dividend from 81.5 cents per share to 85 cents, representing a raise of 4%. The midstream energy services provider will pay its higher dividends to shareholders of record as of Feb. 3 on Feb. 14. EQM shares should trade ex-dividend on Feb. 1.
EQM Dividend Yield: 4.3%
As of the time of this writing, the author was long ED stock.