The S&P 500 Index rallied higher last week as investors applauded the decision to exempt Mexico and Canada from the Trump administration’s trade tariffs and new data on the U.S. labor market showed continued employment gains. A handful of dividend stocks also reported good news in the area of higher payouts.
Five notable dividend stocks increased their payouts over the last week. This included two businesses involved in the wireless communications industry, a popular toothpaste manufacturer and a major defense company.
Here are five dividend stocks increasing payouts.
Qualcomm, Inc. (NASDAQ:QCOM) raised its quarterly dividend by 9%, increasing it from 57 cents per share to 62 cents. The mobile communications technology company did not declare a formal ex-dividend date but will begin paying its higher dividend after March 21, 2018. If history is any guide, the first ex-dividend date for its bigger dividend will fall in late May or early June.
QCOM Dividend Yield: 3.92%
American Tower Corp (NYSE:AMT) grew its quarterly dividend from 70 cents per share to 75 cents, representing a raise of 7%. The wireless infrastructure company will pay out its higher dividend to shareholders of record as of April 11 on April 27. Therefore, AMT shares trade ex-dividend on April 10.
AMT Dividend Yield: 2.09%
Colgate-Palmolive Company (NYSE:CL) increased its quarterly dividend by 5%, raising its payment to 42 cents per share from 40 cents. Shareholders of record as of April 20 will receive their higher dividends on May 15 from the global consumer products company. As a result, CL shares will be ex-dividend on April 19.
CL Dividend Yield: 2.37%
General Dynamics Corporation (NYSE:GD) announced an 11% raise to its quarterly dividend, increasing it from 84 cents per share to 93 cents. Shareholders of record as of April 13 will receive their higher dividends on May 11. Because of this, GD shares will be ex-dividend on April 12.
GD Dividend Yield: 1.63%
Ross Stores, Inc. (NASDAQ:ROST) moved its quarterly dividend higher by a whopping 41%, increasing it from 16 cents per share to 22.5 cents. The off-price retailer will pay its higher dividend to shareholders of record as of March 19 on March 30. Therefore, ROST shares trade ex-dividend on March 16.
ROST Dividend Yield: 1.17%
As of this writing, Brian Bollinger was long American Tower and Colgate-Palmolive.