The S&P 500 Index slumped last week as investors reacted to rising interest rates and continued improvement in the labor market, which could result in higher inflation. Despite the price volatility, a handful of companies sent clear signals of strength in the form of dividend raises.
Five notable dividend stocks increased their payouts over the last week, including two major energy producers, a leading insurance provider and a large mall real estate investment trust.
Here are five dividend stocks increasing payouts.
Chevron Corporation (NYSE:CVX) moved its quarterly dividend higher by 4%, increasing it from $1.08 per share to $1.12. The global oil and gas producer will pay its higher dividend to shareholders of record as of Feb. 16 on March 12. CVX shares trade ex-dividend on Feb. 15.
CVX Dividend Yield: 3.9%
Visa Inc (NYSE:V) announced an 8% raise to its quarterly dividend, increasing it from 19.5 cents per share to 21 cents. Shareholders of record as of Feb. 16 will receive their higher dividends on March 6 from the payments technology company. V shares will be ex-dividend on Feb. 15.
V Dividend Yield: 0.7%
ConocoPhillips (NYSE:COP) announced an 8% increase to its quarterly dividend, raising it from 26.5 cents per share to 28.5 cents. Dividends will be paid from the semiconductor manufacturer on March 1 to shareholders of record as of Feb. 12. COP shares trade ex-dividend on Feb. 9.
COP Dividend Yield: 2%
Aflac Incorporated (NYSE:AFL) increased its quarterly dividend by 16%, raising its payment to 52 cents per share from 45 cents. Shareholders of record as of Feb. 21 will receive their higher dividends on March 1 from the health and life insurance provider. AFL shares will be ex-dividend on Feb. 20.
AFL Dividend Yield: 2.3%
Simon Property Group Inc (NYSE:SPG) announced a 5% increase to its quarterly dividend, raising it from $1.85 per share to $1.95. Dividends will be paid from the mall real estate investment trust on Feb. 28 to shareholders of record as of Feb. 14. SPG shares become ex-dividend on Feb. 13.
SPG Dividend Yield: 4.9%
As of this writing, Brian Bollinger had no position in any of the stocks mentioned.