The S&P 500 Index hit another record high last week and closed out its seventh consecutive month of gains. Investors continued cheering better-than-expected earnings reports, as well as strong economic data on the labor market. Growing potential for tax reform was another tailwind, and a handful of dividend stocks provided further good news with dividend raises.
Five notable dividend stocks increased their payouts recently, including two transportation logistics companies, a healthcare real estate investment trust and an industrial automation business.
Here are five dividend stocks increasing payouts.
Spectra Energy Partners, LP (NYSE:SEP) grew its quarterly dividend from 71.38-cents-per-share to 72.63 cents, representing a raise of 2%. The energy transportation, storage and logistics company will pay out its higher dividends to shareholders of record as of Nov. 13 on Nov. 29. SEP shares trade ex-dividend on Nov. 10.
SEP Dividend Yield: 6.82%
Rockwell Automation (NYSE:ROK) raised its quarterly dividend by 10%, increasing it from 76-cents-per-share to 83.5 cents. The provider of industrial automation software will send its higher dividend to shareholders of record as of Nov. 13 on Dec. 11. ROK shares will trade ex-dividend on Nov. 10.
ROK Dividend Yield: 1.68%
Vectren Corp (NYSE:VVC) announced a 7% increase to its quarterly dividend, raising it from 42-cents-per-share to 45 cents. Dividends will be paid from the natural gas utility company on Dec. 1 to shareholders of record as of Nov. 15. VVC shares become ex-dividend on Nov. 14.
VVC Dividend Yield: 2.53%
Sabra Health Care REIT Inc (NASDAQ:SBRA) increased its quarterly dividend by 5% to 45-cents-per-share from 43 cents. Shareholders of record as of Nov. 15 will receive dividends from the healthcare real estate investment trust on Nov. 30. The company’s shares trade ex-dividend on Nov. 14.
SBRA Dividend Yield: 9.2%
Macquarie Infrastructure Corp (NYSE:MIC) increased its quarterly dividend by 3%, raising its payment to $1.42-per-share from $1.38. Shareholders of record as of Nov. 13 will receive dividends from the provider of bulk liquid terminalling and handling services on Nov. 16. The company’s shares trade ex-dividend on Nov. 10.
MIC Dividend Yield: 8.40%
As of this writing, Brian Bollinger was long ROK.