A strong start to earnings season helped the S&P 500 Index inch higher over the last week. Several major businesses added to the positive sentiment with announcements of higher dividends.
6 notable dividend stocks increased their payouts over the last week. This included two midstream energy companies, a global manufacturer of home appliances, and a major regulated utility.
Here are 6 dividend stocks increasing payouts.
Southern Co (NYSE:SO) announced a 3% raise to its quarterly dividend, increasing it from 58 cents per share to 60 cents. Shareholders of record as of May 21 will receive their higher dividends from the regulated electric and gas utility on June 6 Therefore, SO shares will be ex-dividend on May 18.
SO Dividend Yield: 5.28%
Whirlpool Corporation (NYSE:WHR) raised its quarterly dividend by 5%, increasing it from $1.10 per share to $1.15. Shareholders of record as of May 18 will receive dividends from the seller of home appliances on June 15. As a result, the company’s shares trade ex-dividend on May 17.
WHR Dividend Yield: 3.08%
Sonoco Products Co (NYSE:SON) moved its quarterly dividend higher by 5%, increasing it from 39 cents per share to 41 cents. The manufacturer of industrial and consumer packaging products will pay its higher dividend to shareholders of record as of May 11 on June 8. Because of this, SON shares trade ex-dividend on May 10.
SON Dividend Yield: 3.20%
Kinder Morgan Inc (NYSE:KMI) increased its quarterly dividend by 60%, raising its payment to 20 cents per share from 12.5 cents. Shareholders of record as of April 30 will receive dividends from the midstream energy company on May 15. Therefore, the company’s shares trade ex-dividend on April 27.
KMI Dividend Yield: 4.84%
Celanese Corporation (NYSE:CE) announced a 17% increase to its quarterly dividend, raising it from 46 cents per share to 54 cents. Dividends will be paid from the specialty chemicals manufacturer on May 10 to shareholders of record as of April 30. As a result, CE shares trade ex-dividend on April 27.
CE Dividend Yield: 1.95%
ONEOK, Inc. (NYSE:OKE) grew its quarterly dividend from 77 cents per share to 79.5 cents, representing a raise of 3%. The oil and gas storage and transportation company will pay out its higher dividend to shareholders of record as of April 30 on May 15. Therefore, GEL shares trade ex-dividend on April 27.
OKE Dividend Yield: 5.15%
As of this writing, Brian Bollinger had no position in any of the stocks mentioned.