Monday, July 10, 2017

5 Stocks Providing A Growing Income With Increased Dividends

How much money will you need for retirement? This a very difficult question to answer. There are many factors and assumptions that go into estimating the income that will be needed in retirement. However, one certainty is that if you only invest in fixed income securities, you will need more than if your investments provide you a growing income.

Below are several companies that are providing their shareholders a growing income with higher cash dividends:

Enterprise Products Partners L.P. (EPD) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids, crude oil, petrochemicals and refined products in North America. Recently the company increased its quarterly dividend 1.2% to $0.42 per share. The dividend is payable August 7, 2017 to stockholders of record on July 31, 2017, with an ex-dividend date of July 27, 2017. The yield based on the new payout is 6.2%.

The PNC Financial Services Group, Inc. (PNC) is a diversified financial services company. Recently the company increased its quarterly dividend 36% to $0.75 per share. The dividend is payable August 5, 2017 to stockholders of record on July 17, 2017, with an ex-dividend date of July 13, 2017. The yield based on the new payout is 2.4%.

Bank of the Ozarks, Inc. (OZRK) is a state chartered bank that provides retail and commercial banking services. Recently the company increased its quarterly dividend 2.9% to $0.18 per share. The dividend is payable July 21, 2017 to stockholders of record on July 14, 2017, with an ex-dividend date of July 12, 2017. The yield based on the new payout is 1.5%.

Tallgrass Energy Partners, LP (TEP) owns, operates, acquires and develops midstream energy assets in North America. Recently the company increased its quarterly dividend 11% to $0.925 per share. The dividend is payable August 14, 2017 to stockholders of record on July 28, 2017, with an ex-dividend date of July 26, 2017. The yield based on the new payout is 7.2%.

Highway Holdings Limited (HIHO) manufactures and supplies various metal, plastic and electric parts, components and products to its original equipment manufacturing (OEM) clients. Recently the company increased its quarterly dividend 43% to $0.10 per share. The dividend is payable August 18, 2017 to stockholders of record on July 28, 2017, with an ex-dividend date of July 26, 2017. The yield based on the new payout is 11%.

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 Portfolio holdings here.

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Tags: EPD, PNC, OZRK, TEP, HIHO,

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