Volatility returned to the stock market last week, driven by increased political tension in the United States that caused investors to wonder just how quickly pro-business tax reform policies and deregulation will be implemented. While the S&P 500 Index closed slightly down on the week, a number of companies sent their dividends higher.
Here are six dividend stocks increasing payouts.
Chubb Ltd (NYSE:CB) grew its quarterly dividend from 69 cents per share to 71 cents, representing a raise of 3%. The insurance provider will pay out its higher dividends to shareholders of record as of June 30 on July 21. CB shares trade ex-dividend on June 28.
CB Dividend Yield: 2.05%
Northrop Grumman Corporation (NYSE:NOC) increased its quarterly dividend by 11%, raising its payment from 90 cents per share to $1.00. Shareholders of record as of June 5 will receive dividends from the global aerospace and defense company on June 21. NOC shares will be ex-dividend on June 1.
NOC Dividend Yield: 1.60%
Southwest Airlines Co (NYSE:LUV) increased its quarterly dividend by 25%, raising its payment to 12.5 cents per share from 10 cents. The low-cost passenger airline company will pay shareholders of record as of June 7 on June 28. The stock’s shares trade ex-dividend on June 5.
LUV Dividend Yield: 0.85%
Marsh & McLennan Companies, Inc. (NYSE:MMC) announced a 10% increase to its quarterly dividend, raising it from 34 cents per share to 37.5 cents. Dividends will be paid from the provider of risk and insurance services on August 15 to shareholders of record as of July 11. MMC shares become ex-dividend on July 7.
MMC Dividend Yield: 2%
KeyCorp (NYSE:KEY) announced a 12% increase to its quarterly dividend, raising it from 8.5 cents per share to 9.5 cents. Dividends will be paid from the bank holding company on June 15 to shareholders of record as of May 30. KEY shares become ex-dividend on May 25.
KEY Dividend Yield: 2.13%
Gentex Corporation (NASDAQ:GNTX) raised its quarterly dividend by 11%, increasing it from 9 cents per share to 10 cents. The manufacturer of automotive accessories will pay its higher dividend to shareholders of record as of July 6 on July 19. GNTX shares will trade ex-dividend on July 3.
GNTX Dividend Yield: 2.2%
As of the time of this writing, Brian Bollinger was long CB stock.