The Dow Jones Industrial Average crossed 25,000 points to start the new year as investors appear optimistic about improving economic growth and the tax bill that passed in late 2017. A handful of dividend stocks fueled further optimism for their shareholders with news of dividend increases.
Four notable dividend stocks increased their payouts over the last week, including a large oil and gas producer, two industrial firms and a financial services provider.
Here are four dividend stocks increasing payouts.
Cabot Oil & Gas Corporation (NYSE:COG) grew its quarterly dividend from 5-cents-per-share to 6 cents, representing a raise of 20%. The oil and gas producer will pay out its higher dividends to shareholders of record as of Jan. 24 on Feb. 7. COG shares trade ex-dividend on Jan. 23.
COG Dividend Yield: 0.83%
MSC Industrial Direct Co Inc (NYSE:MSM) increased its quarterly dividend by 21% to 58-cents-per-share from 48 cents. Shareholders of record as of Jan. 16 will receive dividends from the industrial products distributor on Jan. 30. The company’s shares trade ex-dividend on Jan. 12.
MSM Dividend Yield: 2.36%
Bank Of The Ozarks Inc (NASDAQ:OZRK) increased its quarterly dividend by 3%, raising its payment to 19-cents-per-share from 18.5 cents. Shareholders of record as of Jan. 19 will receive their higher dividends on Jan. 26 from the retail and commercial bank. OZRK shares will be ex-dividend on Jan. 18.
OZRK Dividend Yield: 1.52%
Alamo Group, Inc. (NYSE:ALG) increased its quarterly dividend by 10%, raising its payment to 11-cents-per-share from 10 cents. Shareholders of record as of Jan. 16 will receive dividends from the agricultural and industrial equipment manufacturer on Jan. 29. The company’s shares trade ex-dividend on Jan. 12.
ALG Dividend Yield: 0.39%
As of this writing, Brian Bollinger was long MSM.