Monday, July 24, 2017

3 Stocks Increasing Dividends Like A Champion

There are winners and there are champions in every walk of life. The difference is subtle, but very real. A champion is driven for success and will not let anything stand in its way. Some dividend stocks can be classified as champions. A bad economy, tight credit markets and a dark cloud of uncertainty are enough send some dividend companies running for the exit. However, these are the times that champions stand firm.

This week several companies answered the call and rewarded their shareholders with higher cash dividends:

Citigroup Inc. (C) is a financial services holding company whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Recently the company increased its quarterly dividend 100% to $0.32 per share. The dividend is payable August 252, 2017 to stockholders of record on August 7, 2017, with an ex-dividend date of August 3, 2017. The yield based on the new payout is 1.9%.

Duke Energy Corporation (Duke Energy) is an energy company. Recently the company increased its quarterly dividend 4.1% to $0.89 per share. The dividend is payable September 18, 2017 to stockholders of record on August 18, 2017, with an ex-dividend date of August 16, 2017. The yield based on the new payout is 4.3%.

Magellan Midstream Partners, L.P. (MMP) is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. Recently the partnership increased its quarterly distribution 2% to $0.89 per unit. The distribution is payable August 14, 2017 to unitholders of record on July 31, 2017, with an ex-dividend date of July 27, 2017. The yield based on the new payout is 5.1%.

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 DUK in my High Yield Portfolio. See a list of all my Dividend Growth Portfolio holdings here.

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Tags: C, DUK, MMP,

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