Life often deals us difficult circumstances to work through at what seems to be the most inopportune time. During economic downturns, many people lose their jobs at a time when companies aren't hiring. When things like this happen, those with an alternative income, including dividend growth stocks, are in a better position to deal with the circumstances thrust on them. Below are several companies increasing their dividends and in turn better preparing their shareholders for a financial rainy day:
Safeway Inc. (SWY) is one of the largest food and drug retailers in North America based on sales. May 19th the company increased its quarterly dividend 21% to $0.145 per share. The dividend is payable on July 14, 2011, to stockholders of record at the close of business on June 23, 2011. The yield based on the new payout is 2.3%.
The Western Union Company (WU) provides money transfer and payment services worldwide. May 19th the company increased its quarterly dividend 14% to $0.08 per share. The dividend is payable June 30, 2011 to shareholders of record at the close of business on June 17, 2011. The yield based on the new payout is 1.5%.
Tiffany & Co. (TIF) operates jewelry stores and manufactures products through its subsidiary corporations. May 19th the company increased its quarterly dividend 16% to $0.29 per share. The dividend will be paid on July 11, 2011 to stockholders of record on June 20, 2011. The yield based on the new payout is 1.7%.
KeyCorp (KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $90 billion. May 19th the company increased it quarterly dividend to $0.03 per share. The dividend is payable June 15, 2011 to shareholders of record on May 31, 2011. The yield based on the new payout is 1.4%.
Corn Products International, Inc. (CPO) is a leading global provider of ingredient solutions to diversified industries. May 18th the company increased its quarterly dividend 14% to $0.16 per share. The dividend is payable on July 25, 2011, to stockholders of record at the close of business on June 30, 2011. The yield based on the new payout is 1.2%.
Dr Pepper Snapple Group, Inc. (DPS) is the leading producer of flavored beverages in North America and the Caribbean. May 18th the company increased its quarter;y dividend 28% to $0.32 per share. The dividend is payable in U.S. dollars on July 8, 2011, to shareholders of record on June 20, 2011. The yield based on the new payout is 3.0%.
The Clorox Company (CLX) is a leading manufacturer and marketer of consumer products. May 18th the company increased its quarterly dividend 9% to $0.60 per share. The dividend will be payable on Aug. 12, 2011, to stockholders of record as of July 27, 2011. Total annual dividends paid to Clorox shareholders have increased each year since 1977. The yield based on the new payout is 3.4%.
Spartan Stores, Inc., (SPTN) operates as a grocery distributor and grocery retailer principally in Michigan and Indiana. May 18th the company increased its quarterly dividend 30% to $0.065 per share. The dividend is payable on June 15, 2011 to shareholders of record as of June 1, 2011. The yield based on the new payout is 1.6%.
Analog Devices, Inc. (ADI) engages in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits. May 18th the company increased it quarterly dividend 14% to $0.25 per outstanding share of common stock, which will be paid on June 15, 2011 to all shareholders of record at the close of business on May 27, 2011. The yield based on the new payout is 1.2%.
Ashland Inc. (ASH) operates as a specialty chemicals company in the United States and internationally. May 18th the company increased its quarterly dividend 17% to $0.175 cents per share. The dividend is payable on June 15, 2011, to shareholders of record at the close of business on June 2, 2011. As of April 30, 2011. The yield based on the new payout is 1.2%.
Monarch Financial Holdings, Inc. (MNRK) is a community bank with nine banking offices in Chesapeake, Virginia Beach, and Norfolk, Virginia. May 18th the company increased its semi-annual dividend 14% to $0.08 per share. The dividend is payable on June 22, 2011 to shareholders of record on June 1, 2011. The yield based on the new payout is 2.0%.
ACE Limited (ACE) is a global leader in insurance and reinsurance serving a diverse group of clients. May 18th the company increased its quarterly dividend 6.1% to $0.35 per share. The company’s Board of Directors declared that shareholders of record at the close of business on June 30, 2011, will be entitled to payment of the first installment on July 21, 2011. The yield based on the new payout is 2.0%.
W. R. Berkley Corporation (WRB) is an insurance holding company that is among the largest commercial lines writers in the United States. May 17th the company increased its quarterly dividend 14% to $0.08 per share. The dividend payable on July 1, 2011 to stockholders of record at the close of business on June 14, 2011. The yield based on the new payout is 1.0%.
AmerisourceBergen Corporation (ABC) is a pharmaceutical services company, providing drug distribution and related services to healthcare providers and pharmaceutical manufacturers. May 13th the company increased its quarterly dividend 15 percent to $0.115 per common share. The dividend is payable June 6, 2011, to stockholders of record at the close of business on May 24, 2011. The yield based on the new payout is 1.1%.
Assurant, Inc. (AIZ) is a provider of specialty insurance and insurance-related products and services. May 13th the company increased its quarterly dividend 13% to $0.16 per share. The dividend will be payable on June 7, 2011 to shareholders of record as of the close of business on May 23, 2011. The yield based on the new payout is 1.7%.
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 CLX. See a list of all my income holdings here.
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