Friday, April 18, 2014

6 Dividend Stocks Raising Their Payouts And Yields

In a down-market when many people are rushing to buy gold, I take comfort that I already have mine. No, not that kind, but something much better! A growing stream of dividend income from solid companies. While everyone else is panicked about their portfolio’s decline, I see a downturn as an incredible buying opportunity. Lower prices, rising yields and growing dividends, its hard to beat that combination.

Below are several select companies that recently announced dividend increases:

People’s United Financial, Inc. (PBCT) operates as the bank holding company for People’s United Bank that provides commercial banking, retail and business banking, and wealth management services to individual, corporate, and municipal customers. April 16th the company increased its quarterly dividend 1.5% to $0.165 per share. The dividend is payable May 15, 2014 to stockholders of record on May 1, 2014. The yield based on the new payout is 4.5%.

Sonoco Products Company (SON) manufactures and sells industrial and consumer packaging products in the United States, Europe, and Canada. April 16th the company increased its quarterly dividend 3.2% to $0.32 per share. The dividend is payable June 10, 2014 to stockholders of record on May 16, 2014. The yield based on the new payout is 3.0%.

CSX Corporation (CSX) provides rail-based transportation services in the United States and Canada. April 15th the company increased its quarterly dividend 6.7% to $0.16 per share. The dividend is payable June 13, 2014 to stockholders of record on May 28, 2014. The yield based on the new payout is 2.3%.

Targa Resources Corp. (TRGP), through its general and limited partner interests in Targa Resources Partners LP, provides midstream natural gas and natural gas liquid (NGL) services in the United States. April 15th the company increased its quarterly dividend 6.9% to $0.64750 per share. The dividend is payable May 16, 2014 to stockholders of record on April 28, 2014. The yield based on the new payout is 2.4%.

Whirlpool Corporation (WHR) manufactures and markets home appliances and related products worldwide. April 14th the company increased its quarterly dividend 20% to $0.75 per share. The dividend is payable June 15, 2014 to stockholders of record on May 16, 2014. The yield based on the new payout is 2.0%.

TransMontaigne Partners L.P. (TLP) operates as a terminaling and transportation company. April 14th the company increased its quarterly dividend 1.5% to $0.66 per share. The dividend is payable May 8, 2014 to stockholders of record on April 30, 2014. The yield based on the new payout is 5.9%.

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: Long PBCT in my Dividend Growth Portfolio. See a list of all my dividend growth holdings here.

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Tags: [CSX] [PBCT] [WHR] [SON] [TRGP] [TLP]

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