The S&P 500 Index edged slightly higher last week as investors began digesting a slew of fresh earnings reports. While several companies disappointed, a number of large businesses delivered happy news in the form of dividend increases.
Among the companies that boosted their payouts over the last week were 10 notable dividend stocks, including two packaged food companies, three midstream energy companies, and a major paint manufacturer.
Here are those 10 dividend stocks increasing payouts:
ConAgra Brands Inc (NYSE:CAG) raised its quarterly dividend by 6%, increasing it to 21.25 cents per share from 20 cents. The packaged food company will pay its higher dividend on August 31 to shareholders of record as of July 31. CAG shares will trade ex-dividend on July 27.
CAG Dividend Yield: 2.51%
Duke Energy Corp (NYSE:DUK) increased its quarterly dividend by 4% to 89 cents per share from 85.5 cents. Shareholders of record as of August 18 will receive dividends from the regulated utility on September 18. The company’s shares will go ex-dividend on August 16.
DUK Dividend Yield: 4.18%
J M Smucker Co (NYSE:SJM) announced a 4% increase to its quarterly dividend, raising it to 78 cents per share from 75 cents. Dividends will be paid from the food and beverage manufacturer on September 1 to shareholders of record as of August 11. SJM shares become ex-dividend on August 9.
SJM Dividend Yield: 2.63%
Magellan Midstream Partners, L.P. (NYSE:MMP) increased its quarterly dividend by 2%, raising its payment to 89 cents per share from 87.25 cents. Shareholders of record as of July 31 will receive dividends from the energy transportation, storage, and distribution company on August 14. The company’s shares will go ex-dividend on July 27.
MMP Dividend Yield: 5.08%
Phillips 66 Partners LP (NYSE:PSXP) announced a 5% hike to its quarterly dividend, increasing its payout to 61.5 cents per share from 58.6 cents. The operator of oil and gas terminals and pipelines will send its higher dividend payment out on August 11 to shareholders of record as of July 31. PSXP shares will trade ex-dividend on July 27.
PSXP Dividend Yield: 4.88%
PPG Industries, Inc. (NYSE:PPG) announced a 13% increase to its quarterly dividend, raising it to 45 cents per share from 40 cents. Dividends will be paid by the global coatings company on September 12 to shareholders of record as of August 10. PPG shares become ex-dividend on August 8.
PPG Dividend Yield: 1.69%
Shell Midstream Partners LP (NYSE:SHLX) grew its quarterly dividend from 30.41 cents per share to 29.1 cents, a 5% boost. The operator of midstream energy assets will pay out its higher dividends on August 14 to shareholders of record as of July 31. SHLX shares trade ex-dividend on July 27.
SHLX Dividend Yield: 4.12%
State Street Corp (NYSE:STT) increased its quarterly dividend by 11%, raising its payment to 38 cents per share from 42 cents. Shareholders of record as of October 2 will receive their higher dividends on October 16 from the investment management company. STT shares will be ex-dividend on September 28.
STT Dividend Yield: 1.67%
Stanley Black & Decker, Inc. (NYSE:SWK) announced a 9% increase to its quarterly dividend, increasing it to 63 cents per share from 58 cents. Shareholders of record as of September 1 will receive their higher dividends on September 19 from the manufacturer of hand and power tools. SWK shares will be ex-dividend on August 30.
SWK Dividend Yield: 1.72%
West Pharmaceutical Services Inc. (NYSE:WST) boosted its quarterly dividend 8% higher, to 14 cents per share from 13 cents. The medical equipment manufacturer will pay its higher dividend on November 1 to shareholders of record as of October 18. WST shares are expected to trade ex-dividend on October 16.
WST Dividend Yield: 0.60%
As of this writing, Brian Bollinger did not hold a position in any of the aforementioned securities.
