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Monday, August 3, 2020

7 Stocks Paying Higher Cash Dividends

We have all heard it… Stodgy, for old people, yawn, boring! These have all been used to describe dividend growth stocks. As an investor in dividend growth stocks, I sometimes think our strategy is the most misunderstood. It seems everyone understands a traders mentality and a high-yield mentality. Periodically, it is good to remind ourselves that dividend growth stocks provides us with excellent long-term leverage and a growing income.

Below are several stocks using real cash to raise their dividends:

McKesson (MCK) recently increased its quarterly dividend 2.4% to $0.42 per share. The dividend is payable Oct. 1, 2020 to stockholders of record on Sep. 1, 2020, with an ex-dividend date of Aug. 31, 2020. The yield based on the new payout is 1.1%.

CyrusOne (CONE) recently increased its quarterly dividend 2% to $0.51 per share. The dividend is payable Oct. 9, 2020 to stockholders of record on Sep. 25, 2020, with an ex-dividend date of Sep. 24, 2020. The yield based on the new payout is 2.5%.

Unilever (UL) recently increased its quarterly dividend 5.6% to $0.4694 per share. The dividend is payable Sep. 9, 2020 to stockholders of record on Aug. 7, 2020, with an ex-dividend date of Aug.6 , 2020. The yield based on the new payout is 3.4%.

Sturm, Ruger (RGR) recently increased its quarterly dividend 20% to $0.42 per share. The dividend is payable Aug. 28, 2020 to stockholders of record on Aug. 14, 2020, with an ex-dividend date of Aug. 13, 2020. In addition, the board declared special dividend of $5/share, payable along with quarterly dividend. The yield based on the new payout is 2.1%.

Scotts Miracle-Gro (SMG) recently increased its quarterly dividend 6.9% to $0.62 per share. The dividend is payable Sep. 10, 2020 to stockholders of record on Aug. 27, 2020, with an ex-dividend date of Aug. 26, 2020. The yield based on the new payout is 1.7%.

Apollo Global Management (APO) recently increased its quarterly dividend 16.7% to $0.49 per share. The dividend is payable Aug. 31, 2020 to stockholders of record on Aug. 18, 2020, with an ex-dividend date of Aug. 17, 2020. The yield based on the new payout is 3.6%.

W.W. Grainger (GWW) recently increased its quarterly dividend 6.3% to $1.53 per share. The dividend is payable Sep.1 , 2020 to stockholders of record on Aug. 10, 2020, with an ex-dividend date of Aug. 7, 2020. The yield based on the new payout is 1.8%.

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.

Stocks that have recently cut their dividends:

Macerich (MAC) - cuts dividend by 70%
Kimbell Royalty Partners (KRP) - cuts dividend by 24%
Martin Midstream Partners (MMLP) - cuts dividend by over 90%
Wells Fargo (WFC) - cuts dividend cut of 80%
Great Western Bancorp (GWB) - cuts dividend by 93%
Vornado Realty (VNO) - cuts dividend 20%

Full Disclosure: No position in the aforementioned securities.

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Tags: MCK, CONE, UL, RGR, SMG, APO, GWW, MAC, KRP, MMLP, WFC, GWB, VNO,
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