5 Dividend Stocks Acting Like a Money Machine With Increased Dividends

Readers of this space know that the primary focus of my dividend portfolio is to create ever-increasing income money machine by investing in dividend growth securities. This means that sometimes I will choose a lower yielding security with better dividend growth prospects over a higher yielding security. As one that values diversity, I also invest in some high yield securities. However, any dividend stock that I invest in must have an increasing dividend.

Below are companies that have recently made their shareholders take notice with higher cash dividends:

Innovative Industrial Properties (IIPR) recently increased its quarterly dividend 6% to $1.06 per share. The dividend is payable Jul. 15, 2020 to stockholders of record on Jun. 30, 2020, with an ex-dividend date of Jun. 29, 2020. The yield based on the new payout is 4.7%.

Kirkland Lake Gold (KL) recently increased its quarterly dividend 108% to $0.125 per share. The dividend is payable Jul. 13, 2020 to stockholders of record on Jun. 30, 2020, with an ex-dividend date of Jun. 29, 2020. The yield based on the new payout is 1.3%.

Camden Property Trust (CPT) recently increased its quarterly dividend 3.8% to $0.83 per share. The dividend is payable Jul. 17, 2020 to stockholders of record on Jun. 30, 2020, with an ex-dividend date of Jun. 29, 2020. The yield based on the new payout is 3.5%.

MGM Growth Properties (MGP) recently increased its quarterly dividend 2.6% to $0.4875 per share. The dividend is payable Jul. 15, 2020 to stockholders of record on Jun. 30, 2020, with an ex-dividend date of Jun. 29, 2020. The yield based on the new payout is 7.0%.

Shoe Carnival (SCVL) recently increased its quarterly dividend 6% to $0.09 per share. The dividend is payable Jul. 20, 2020 to stockholders of record on Jul. 6, 2020, with an ex-dividend date of Jul. 2, 2020. The yield based on the new payout is 1.3%.

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:

Redwood Trust (RWT) - cuts dividend by 61%
Apollo Commercial Real Estate Finance (ARI) - cuts dividends by 13%
Independence Realty Trust (IRT) - cuts dividends by 33%
Ready Capital (RC) - cuts dividend by ~38%
Invesco Mortgage Capital (IVR) - cuts dividend by ~96%
TPG RE Finance Trust (TRTX) - cuts dividends by ~54%

Full Disclosure: No position in the aforementioned securities.

Related Articles
- A Roadmap To Build Wealth With Dividend Stocks
- High-Yield Managed Distribution Policy Funds
- 5 Blue Chip Dividend Stocks For When the Chips Are Down
- 6 Dividend Stocks With A Good Yield And Growth Balance
- 14 Investments That Pay Monthly Dividends

Tags: IIPR, KL, CPT, MGP, SCVL, RWT, ARI, IRT, RC, IVR, TRTX,
.