A late rally helped the S&P 500 Index edge higher for a second straight week. Investors continue digesting generally positive earnings releases and economic data. The optimism is tempered somewhat by the prospects of higher interest rates and inflation, however. Meanwhile, a handful of companies with dividend stocks sent clear signs of strength with fresh dividend increases.
Six notable dividend stocks increased their payouts over the last week. The companies included a major home improvement retailer, an automotive parts distributor, a large insurance company and a garbage collector.
Here are six dividend stocks increasing payouts.
Home Depot Inc (NYSE:HD) increased its quarterly dividend by 16%, raising its payment to $1.03 per share from 89 cents. Shareholders of record as of March 8 will receive their higher dividends on March 22 from the home improvement retailer. Therefore, HD shares will be ex-dividend on March 7.
HD Dividend Yield: 2.19%
Old Republic International Corporation (NYSE:ORI) announced a 3% raise to its quarterly dividend, increasing it from 19 cents per share to 19.5 cents. Shareholders of record as of March 5 will receive their higher dividends on March 15 from the insurance underwriter. As a result, ORI shares will be ex-dividend on March 2.
ORI Dividend Yield: 3.75%
Xcel Energy Inc (NASDAQ:XEL) moved its quarterly dividend higher by 6%, increasing it from 36 cents per share to 38 cents. The regulated electric and gas utility will pay its higher dividend to shareholders of record as of March 15 on April 20. Because of this, XEL shares trade ex-dividend on March 14.
XEL Dividend Yield: 3.40%
Danaher Corporation (NYSE:DHR) increased its quarterly dividend by 14%, raising its payment to 16 cents per share from 14 cents. Shareholders of record as of March 29 will receive dividends from the healthcare equipment manufacturer on April 27. Therefore, the company’s shares trade ex-dividend on March 28.
DHR Dividend Yield: 0.65%
Genuine Parts Company (NYSE:GPC) announced a 7% increase to its quarterly dividend, raising it from 67.5 cents per share to 72 cents. Dividends will be paid from the automotive and industrial parts maker on April 2 to shareholders of record as of March 9. As a result, GPC shares trade ex-dividend on March 8.
GPC Dividend Yield: 3.05%
Waste Management, Inc. (NYSE:WM) announced a 9% increase to its quarterly dividend, raising it from 42.5 cents per share to 46.5 cents. Dividends will be paid from the trash collection business on March 23 to shareholders of record as of March 9. Because of this, WM shares become ex-dividend on March 8.
WM Dividend Yield: 2.18%
As of this writing, Brian Bollinger was long Waste Management.