The S&P 500 Index powered higher last week as Congress appeared to be making progress on a bill to lower corporate taxes. While the stock market continues making new highs, a number of companies have also been moving their dividends higher.
Five notable dividend stocks increased their payouts over the last week, including two food companies, a global media giant, and a leading pharma business.
Here are five dividend stocks increasing payouts.
Walt Disney Co (NYSE:DIS) grew its semi-annual dividend from 78 cents per share to 84 cents, representing a raise of 8%. The media and entertainment business will pay out its higher dividends to shareholders of record as of Dec. 11 on Jan. 11. DIS shares trade ex-dividend on Dec. 8.
DIS Dividend Yield: 1.6%
McCormick & Co (NYSE:MKC) increased its quarterly dividend by 11% to 52 cents per share from 47 cents. Shareholders of record as of Dec. 29 will receive dividends from the spices and seasonings manufacturer on Jan. 16. The company’s shares trade ex-dividend on Dec. 28.
MKC Dividend Yield: 2%
Merck & Co., Inc. (NYSE:MRK) announced a 2% increase to its quarterly dividend, raising it from 47 cents per share to 48 cents. Dividends will be paid from the drug manufacturer on Jan. 8 to shareholders of record as of Dec. 15. MRK shares become ex-dividend on Dec. 14.
MRK Dividend Yield: 3.4%
J & J Snack Foods Corp (NASDAQ:JJSF) announced a 7% increase to its quarterly dividend, raising it from 42 cents per share to 45 cents. Dividends will be paid from the snacks and beverages manufacturer on Jan. 4 to shareholders of record as of Dec. 13. JJSF shares become ex-dividend on Dec. 12.
JJSF Dividend Yield: 1.2%
Capital Southwest Corporation (NASDAQ:CSWC) increased its quarterly dividend by 8%, raising its payment to 26 cents per share from 24 cents. Shareholders of record as of Dec. 15 will receive their higher dividends on Jan. 2 from the business development company. CSWC shares will be ex-dividend on Dec. 14.
CSWC Dividend Yield: 6%
As of this writing, Brian Bollinger had no position in any of the companies mentioned.