7 Stocks Acting Like a Money Machine With Increased Dividends

Growing up in the late 60’s early 70’s, I spent a fair amount of time reading comic books. I don’t remember much about them, but I do remember several of the classic ads. Of course, there was the Charles Atlas ad where the beach bully kicked sand on the skinny boy and his girlfriend. But the ad that I remember the best was the “Magnificent Marvelous Money Machine“. It was a wooden block with some rollers in which you would put a one dollar bill in one side and a five dollar bill would come out the other.

Being very young and naive, my mom had a tough time convincing me that it was just a trick and something like that didn’t really exist. Sorry mom, but you were wrong on this one. The “Magnificent Marvelous Money Machine” does exist, but it has a different name. It is called Dividend Growth Stocks.

Below are several companies that are multiplying their shareholders return by increasing their cash dividends:

UnitedHealth (UNH) recently increased its quarterly dividend 20% to $1.08 per share. The dividend is payable June 25, 2019 to stockholders of record on June 17, 2019, with an ex-dividend date of June 14, 2019. The yield based on the new payout is 1.8%.

Cleveland-Cliffs (CLF) recently increased its quarterly dividend 20% to $0.06 per share. The dividend is payable Jul. 15, 2019 to stockholders of record on Jul. 5, 2019, with an ex-dividend date of Jul. 3, 2019. The yield based on the new payout is 2.7%.

Bank of Montreal (BMO) recently increased its quarterly dividend 3% to C$1.03 per share. The dividend is payable Aug. 27, 2019 to stockholders of record on Aug. 1, 2019, with an ex-dividend date of Jul. 31, 2019. The yield based on the new payout is 4.0%.

NetEase (NTES) recently increased its quarterly dividend 44% to $0.69 per share. The dividend is payable Jun. 7, 2019 to stockholders of record on May 31, 2019, with an ex-dividend date of May 30, 2019. The yield based on the new payout is 1.1%.

Tiffany (TIF) recently increased its quarterly dividend 5.5% to $0.58 per share. The dividend is payable Jul. 10, 2019 to stockholders of record on Jun. 20, 2019, with an ex-dividend date of Jun. 19, 2019. The yield based on the new payout is 2.6%.

LyondellBasell (LYB) recently increased its quarterly dividend 5% to $1.05 per share. The dividend is payable Jun. 17, 2019 to stockholders of record on Jun. 10, 2019, with an ex-dividend date of Jun. 7, 2019. The yield based on the new payout is 5.4%.

Cracker Barrel (CBRL) recently increased its quarterly dividend 4% to $1.30 per share. The dividend is payable Aug. 5, 2019 to stockholders of record on Jul. 19, 2019, with an ex-dividend date of Jul. 18, 2019. The yield based on the new payout is 3.2%.

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.

Full Disclosure: Long CBRL,

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Tags: UNH, CLF, BMO, NTES, TIF, LYB, CBRL,
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