The S&P 500 Index edged higher last week as investors began moving past geopolitical tensions and focusing on earnings season. Earnings season started in earnest on Friday. And a handful of companies kicked off the season with income boosts.
5 notable dividend stocks increased their payouts over the last week. This included two master limited partnerships, a software provider and two retail-oriented stocks.
Here are 5 dividend stocks increasing payouts.
Automatic Data Processing (NASDAQ:ADP) moved its quarterly dividend higher for the second time in less than a year, this time raising its payout by 10%, from 63 cents per share to 69 cents. The payroll and human resources software provider will pay its higher dividend to shareholders of record as of June 8 on July 1. Therefore, ADP shares trade ex-dividend on June 7.
ADP Dividend Yield: 2.40%
Tanger Factory Outlet Centers Inc (NYSE:SKT) increased its quarterly dividend by 2%, raising its payment to 35 cents per share from 34 cents. Shareholders of record as of April 30 will receive dividends from the discount outlet centers real estate investment trust on May 15. As a result, the company’s shares trade ex-dividend on April 27.
SKT Dividend Yield: 6.11%
Bed Bath & Beyond Inc. (NASDAQ:BBBY) announced a 7% increase to its quarterly dividend, raising it from 15 cents per share to 16 cents. Dividends will be paid from the household goods retailer on July 17 to shareholders of record as of June 15. Because of this, BBBY shares trade ex-dividend on June 14.
BBBY Dividend Yield: 3.71%
Genesis Energy, L.P. (NYSE:GEL) grew its quarterly dividend from 51 cents per share to 52 cents, representing a raise of 2%. The midstream energy partnership will pay out its higher dividend to shareholders of record as of May 1 on May 15. Therefore, GEL shares trade ex-dividend on April 30.
GEL Dividend Yield: 9.63%
Enterprise Products Partners (NYSE:EPD) increased its quarterly dividend by 1%, raising its payment to 42.75 cents per share from 42.5 cents. Shareholders of record as of April 30 will receive their higher dividends on May 8 from the energy pipeline firm. As a result, EPD shares will be ex-dividend on April 27.
EPD Dividend Yield: 6.62%
As of this writing, Brian Bollinger was long Automatic Data Processing.