Dividend Increases: Stocks Increasing Dividends For A Rainy Day

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:



Whirlpool (WHR) recently increased its quarterly dividend 4.2% to $1.25 per share. The dividend is payable Dec. 15, 2020 to stockholders of record on Nov. 20, 2020, with an ex-dividend date of Nov. 19, 2020. The yield based on the new payout is 2.5%.

Brunswick (BC) recently increased its quarterly dividend 12% to $0.27 per share. The dividend is payable Dec. 18 to shareholders of record Nov. 24, with an ex-div date of Nov. 23. The yield based on the new payout is 1.63%.

American Electric Power (AEP) recently increased its quarterly dividend 5.7% to $0.74 per share. The dividend is payable Dec. 10 to shareholders of record Nov. 10, with an ex-div date Nov. 9. The yield based on the new payout is 3.25%.

Peoples Bancorp (PEBO) recently increased its quarterly dividend 2.9% to $0.35 per share. The dividend is payable Nov. 16 to shareholders of record Nov. 2 with an ex-div date of Oct. 30. The yield based on the new payout is 6.51%.

Armstrong World (AWI) recently increased its quarterly dividend 5% to $0.21 per share. The dividend is payable Nov. 19 to shareholders of record Nov. 5 with an ex-div Nov. 4. The yield based on the new payout is 1.22%.

Cadence Bancorporation (CADE) recently increased its quarterly dividend 50% to $0.075 per share. The dividend is payable Nov. 16 to shareholders of record Nov. 2, with an ex-div date of Oct. 30. The yield based on the new payout is 2.59%.

NextEra Energy Partners (NEP) recently increased its quarterly dividend 3% to $0.595 per share. The dividend is payable Nov. 13 to shareholders of record Nov. 5, with an ex-div date of Nov. 4. The yield based on the new payout is 3.66%.

Seagate Technology (STX) recently increased its quarterly dividend 3.1% to $0.67 per share. The dividend is payable Jan. 6 to shareholders of record Dec. 23, with an ex-div date of Dec. 22. The yield based on the new payout is 5.17%. In addition, the board authorized an additional $3B to its existing share repurchase program, bringing the available share repurchase amount to $4.2B.

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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