With time, you can wait for blue-chip stocks to build a high yield-on-cost by growing their dividends. Below are several companies building shareholder wealth by increasing their cash dividends:
City Holding Company (CHCO) operates as the bank holding company for City National Bank of West Virginia that provides banking products and services. March 27th the company increased its quarterly dividend 8.1% to $0.40 per share. The dividend is payable April 30, 2014 to stockholders of record on April 15, 2014. The yield based on the new payout is 3.6%.
Air Industries Group (AIRI), an aerospace and defense company, designs and manufactures structural parts and assemblies that focus on flight safety. March 26th the company increased its quarterly dividend 20% to $0.15 per share. The dividend is payable April 22, 2014 to stockholders of record on April 15, 2014. The yield based on the new payout is 6.3%.
DiamondRock Hospitality Company (DRH), a lodging focused real estate company, owns premium hotels and resorts in North America. March 25th the company increased its quarterly dividend 20.6% to $0.1025 per share. The dividend is payable April 10, 2014 to stockholders of record on March 31, 2014. The yield based on the new payout is 3.4%.
Steelcase Inc. (SCS) designs, manufactures, and distributes furniture systems and seating products, user-centered technologies, and interior architectural products. March 25th the company increased its quarterly dividend 5% to $0.105 per share. The dividend is payable April 14, 2014 to stockholders of record on April 4, 2014. The yield based on the new payout is 2.9%.
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 holdings here.
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