6 Stocks Raising Dividends and Expectations

I am not a stock trader; I am a dividend and value based long-term buy-and-hold investor. When I add a stock to my dividend portfolio, it is my intention to hold the stock forever. I am not smart enough to time the daily gyrations of the stock market. When stock prices start dropping, our primal instinct of flight kicks in and we want to sell. In many cases that is the time to be buying. However, sometimes selling a stock is the right thing to do. In determining when to sell a dividend stock, I have one hard and fast rule: When an individual stock held as a dividend investment lowers its dividend, immediately sell it.

Below are several companies making the case not to be sold by raising their cash dividends:

STORE Capital (STOR) recently increased its quarterly dividend 6.1% to $0.35 per share. The dividend is payable Oct. 15, 2019 to stockholders of record on Sep. 30, 2019, with an ex-dividend date of Sep. 27, 2019. The yield based on the new payout is 3.8%.

VICI Properties (VICI) recently increased its quarterly dividend 3.5% to $0.2975 per share. The dividend is payable Oct. 10, 2019 to stockholders of record on Sep. 27, 2019, with an ex-dividend date of Sep. 26, 2019. The yield based on the new payout is 5.4%.

Fortis (FTS) recently increased its quarterly dividend 6.1% to C$0.4775 per share. The dividend is payable Dec. 1, 2019 to stockholders of record on Nov. 19, 2019, with an ex-dividend date of Nov. 18, 2019. The yield based on the new payout is 4.5%.

Exantas Capital (XAN) recently increased its quarterly dividend 11% to $0.25 per share. The dividend is payable Oct. 25, 2019 to stockholders of record on Sep. 30, 2019, with an ex-dividend date of Sep. 27, 2019. The yield based on the new payout is 8.7%.

MGM Growth Properties (MGP) recently increased its quarterly dividend 0.5% to $0.47 per share. The dividend is payable Oct. 15, 2019 to stockholders of record on Sep. 30, 2019, with an ex-dividend date of Sep. 27, 2019. The yield based on the new payout is 6.1%.

New Jersey Resources (NJR) recently increased its quarterly dividend 6.8% to $0.3125 per share. The dividend is payable Oct. 1, 2019 to stockholders of record on Sep. 20, 2019, with an ex-dividend date of Sep. 19, 2019. 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.

Full Disclosure: No position in the aforementioned securities.

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Tags: STOR, VICI, FTS, XAN, MGP, NJR,
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