Monday, June 18, 2018

6 Stocks Growing Their Cash Dividends

When people learn that I am an income investor, the reaction is often a desire to discuss high-yield investments. Many people commonly confuse income investing with high-yield investing. The two are not the same. High-yield investing often carries a greater degree of risk than I am willing to accept. For me, I will continue to focus on high-quality dividend stocks at lower, but growing, yields.

Below are several dividend stocks that recently grew their yields by paying higher cash dividends:

Target Corporation (TGT) operates as a general merchandise retailer in the United States. Recently the company increased its quarterly dividend 3.2% to $0.64 per share. The dividend is payable September 10, 2018 to stockholders of record on August 15, 2018, with an ex-dividend date of August 14, 2018. The yield based on the new payout is 3.2%.

FedEx Corporation (FDX) provides transportation, e-commerce, and business services worldwide.
Recently the company increased its quarterly dividend 30% to $0.65 per share. The dividend is payable July 9, 2018 to stockholders of record on June 25, 2018, with an ex-dividend date of June 22, 2018. The yield based on the new payout is 1.0%.

W. P. Carey Inc. (WPC) is a leading internally-managed net lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions primarily for companies in the U.S. and Europe. Recently the company increased its quarterly dividend 0.5% to $1.015 per share. The dividend is payable July 16, 2018 to stockholders of record on June 29, 2018, with an ex-dividend date of June 28, 2018. The yield based on the new payout is 6.1%.

Oaktree Specialty Lending (OCSL) recently increased its quarterly dividend 12% to $0.095 per share. The dividend is payable June 29, 2018 to stockholders of record on June 15, 2018, with an ex-dividend date of June 14, 2018. The yield based on the new payout is 8.1%.

Franklin Resources, Inc. (BEN) is a publicly owned asset management holding company. Recently the company increased its quarterly dividend 15% to $0.23 per share. The dividend is payable July 13, 2018 to stockholders of record on June 29, 2018, with an ex-dividend date of June 28, 2018. The yield based on the new payout is 2.7%.

Ingersoll-Rand plc (IR) designs, manufactures, sells, and services industrial and commercial products. Recently the company increased its quarterly dividend 18% to $0.53 per share. The dividend is payable September 28, 2018 to stockholders of record on September 7, 2018, with an ex-dividend date of September 6, 2018. The yield based on the new payout is 2.3%.

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: TGT, FDX, WPC, OCSL, BEN, IR,

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