7 Stocks Delivering Higher Cash Dividends
If you closely follow the daily financial news as presented by the mainstream media, it is easy to become jaded and start believing that there isn't any good news out there. Don't be confused by the noise. There are still many great companies committed to generating superior returns and rewarding their shareholders by increasing cash dividends.
Below are several companies delivering good news to their shareholders with recently increased cash dividends:
Broadcom Limited (NASDAQ:AVGOAVGO) designs, develops, and supplies a range of analog and digital semiconductor connectivity solutions. Its product portfolio comprises broadband access and modems, enterprise and network processors, wireless infrastructure, wireless connectivity, Ethernet communication and switching, and set-top box and media processors. On June 2, the company increased its quarterly dividend 2% to $0.50 per share. The dividend is payable on June 30, 2016 to stockholders of record as on June 17, 2016, with an ex-dividend date of June 15, 2016. The yield based on the new payout is 1.3%.
American Tower Corporation (NYSE:AMT) is a real estate investment trust engaged in leasing of space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers. On June 2, the company increased its quarterly dividend 3.9% to $0.53 per share. The dividend is payable on July 15, 2016 to stockholders of record as on June 17, 2016, with an ex-dividend date of June 15, 2016. The yield based on the new payout is 1.9%.
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) develops and operates the Cracker Barrel Old Country Store concept in the United States, consisting of a restaurant with a gift shop. On June 1, the company increased its quarterly dividend 4.5% to $1.15 per share. The dividend is payable on August 5, 2016 to stockholders of record as on July 15, 2016, with an ex-dividend date of July 13, 2016. In addition, the company declared special dividend of $3.25/share, payable on July 29 to shareholders on record as on July 15. The yield based on the new payout is 3.0%.
National Bank of Canada (OTCPK:NTIOF) provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada, the United States, Europe, and internationally. On June 1, the company increased its quarterly dividend 1.9% to C$0.55 per share. The dividend is payable on August 1, 2016 to stockholders of record as on June 20, 2016, with an ex-dividend date of June 16, 2016. The yield based on the new payout is 5.1%.
Empire State Realty Trust, Inc. (NYSE:ESRT), a real estate investment trust (REIT), focuses on owning, managing, operating, and acquiring office and retail properties in Manhattan and the greater New York metropolitan area. On June 1, the company increased its quarterly dividend 23% to $0.105 per share. The dividend is payable on June 30, 2016 to stockholders of record as on June 15, 2016, with an ex-dividend date of June 13, 2016. The yield based on the new payout is 2.2%.
Frontline Ltd. (NYSE:FRO), a shipping company, engages in the seaborne transportation of crude oil and oil products worldwide. On May 31, the company increased its quarterly dividend 14% to $0.40 per share. The dividend is payable on June 20, 2016 to stockholders of record as on June 13, 2016, with an ex-dividend date of June 9, 2016. The yield based on the new payout is 18%.
El Paso Electric Company (NYSE:EE), a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. On May 27, the company increased its quarterly dividend 5.1% to $0.31 per share. The dividend is payable on June 30, 2016 to stockholders of record as on June 15, 2016, with an ex-dividend date of June 13, 2016. The yield based on the new payout is 2.8%.
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.
Disclosure: Long CBRL in ...
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