The S&P 500 Index continued its blistering start to the year, reaching a new record high last week. The stock market is being propelled by building optimism about the economy’s growth and the expected benefits from the tax cut bill. News of higher dividends from several companies didn’t hurt spirits either.
Here are five dividend stocks increasing payouts.
Enterprise Products Partners L.P. (NYSE:EPD) raised its quarterly dividend by 1%, increasing it from 42.25 cents per share to 42.5 cents. The provider of midstream energy services will send its higher dividend to shareholders of record as of Jan. 31 on Feb. 7. EPD shares will trade ex-dividend on Jan. 30.
EPD Dividend Yield: 5.9%
Ally Financial Inc (NYSE:ALLY) grew its quarterly dividend from 12 cents per share to 13 cents, representing a raise of 8%. The diversified financial services company will pay out its higher dividends to shareholders of record as of Feb. 1 on Feb. 15. ALLY shares trade ex-dividend on Jan. 31.
ALLY Dividend Yield: 1.7%
Genesis Energy, L.P. (NYSE:GEL) increased its quarterly dividend by 2% to 51 cents per share from 50 cents. Shareholders of record as of Jan. 31 will receive dividends from the energy pipeline operator on Feb. 14. The company’s shares trade ex-dividend on Jan. 30.
GEL Dividend Yield: 8%
Apogee Enterprises Inc (NASDAQ:APOG) increased its quarterly dividend by 13%, raising its payment to 15.75 cents per share from 14 cents. Shareholders of record as of Jan. 30 will receive their higher dividends on Feb. 14 from the manufacturer of glass products. APOG shares will be ex-dividend on Jan. 29.
APOG Dividend Yield: 1.3%
Tallgrass Energy Partners LP (NYSE:TEP) increased its quarterly dividend by 2%, raising its payment to 96.5 cents per share from 94.5 cents. Shareholders of record as of Jan. 31 will receive dividends from the operator of midstream energy assets on Feb. 14. The company’s shares trade ex-dividend on Jan. 30.
TEP Dividend Yield: 8.3%
As of this writing, Brian Bollinger had no position in any of the stocks mentioned.