The S&P 500 Index ended a fairly quiet week nearly unchanged last week. With a fundamentally strong earnings season wrapping up, several businesses delivered additional good news in the form of payout raises.
Four notable dividend stocks rewarded shareholders with dividend increases over the last week. This included a major defense contractor, a semiconductor equipment manufacturer and a large packaging company.
Here are four dividend stocks increasing payouts.
Lam Research Corporation (NASDAQ:LRCX) increased its quarterly dividend by 120%, raising its payment to $1.10 per share from 50 cents. Shareholders of record as of June 6 will receive their higher dividends on June 27 from the semiconductor equipment manufacturer. LRCX shares will be ex-dividend on June 5.
LRCX Dividend Yield: 2.2%
Northrop Grumman Corporation (NYSE:NOC) announced a 9% raise to its quarterly dividend, increasing it from $1.10 per share to $1.20. Shareholders of record as of June 4 will receive their higher dividends on June 20 from the defense contractor. NOC shares will be ex-dividend on June 1.
NOC Dividend Yield: 1.5%
Packaging Corporation of America (NYSE:PKG) raised its quarterly dividend by 25%, increasing it from 63 cents per share to 79 cents. Shareholders of record as of June 15 will receive dividends from the containerboard and packaging business on July 13. The company’s shares trade ex-dividend on June 14.
PKG Dividend Yield: 2.6%
Leggett & Platt, Inc. (NYSE:LEG) moved its quarterly dividend higher by 6%, increasing it from 36 cents per share to 38 cents. The diversified manufacturer of consumer and industrial products will pay its higher dividend to shareholders of record as of June 15 on July 13. LEG shares trade ex-dividend on June 14.
LEG Dividend Yield: 3.6%
As of this writing, Brian Bollinger had no position in any of the stocks mentioned.