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Friday, March 28, 2014

4 Stocks Building Wealth Through Higher Dividends

Some traditionalist would say your home is your greatest wealth building asset. I would argue it is not. Others would say your income is your greatest wealth building asset. Thought there is a lot of truth to the statement, it is still not your greatest wealth building asset. So, what is your greatest wealth building asset? Everyone is born with it. Few realize its importance until they lose most of it. The asset is so priceless it can’t be bought. Your most valuable wealth building asset is time.

With time, you can wait for blue-chip stocks to build a high yield-on-cost by growing their dividends. Below are several companies building shareholder wealth by increasing their cash dividends:

City Holding Company (CHCO) operates as the bank holding company for City National Bank of West Virginia that provides banking products and services. March 27th the company increased its quarterly dividend 8.1% to $0.40 per share. The dividend is payable April 30, 2014 to stockholders of record on April 15, 2014. The yield based on the new payout is 3.6%.

Air Industries Group (AIRI), an aerospace and defense company, designs and manufactures structural parts and assemblies that focus on flight safety. March 26th the company increased its quarterly dividend 20% to $0.15 per share. The dividend is payable April 22, 2014 to stockholders of record on April 15, 2014. The yield based on the new payout is 6.3%.

DiamondRock Hospitality Company (DRH), a lodging focused real estate company, owns premium hotels and resorts in North America. March 25th the company increased its quarterly dividend 20.6% to $0.1025 per share. The dividend is payable April 10, 2014 to stockholders of record on March 31, 2014. The yield based on the new payout is 3.4%.

Steelcase Inc. (SCS) designs, manufactures, and distributes furniture systems and seating products, user-centered technologies, and interior architectural products. March 25th the company increased its quarterly dividend 5% to $0.105 per share. The dividend is payable April 14, 2014 to stockholders of record on April 4, 2014. The yield based on the new payout is 2.9%.

Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Full Disclosure: No position in the aforementioned securities. See a list of all my dividend growth holdings here.

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(Photo Credit)

Tags: [CHCO] [AIRI] [DRH] [SCS]

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