This past week I have been vacationing more than 1,500 miles from my home. As with most vacations, I have not done much work this week. However, a quick check of my brokerage account shows that my dividend stocks have been very busy this week. It is nice to know my income portfolio never takes a day off. What’s even better is the portfolio is frequently getting a raise through higher cash dividend payments.
Here are several select companies that have recently provided their shareholders a raise with increased cash dividends:
Stage Stores (SSI) is a specialty department store retailer operating in the U.S., offering brand name and private label apparel, accessories, intimates, home, gifts, outerwear, cosmetics & footwear. June 14th the company increased quarterly divdiend 50% to $0.075/share. The new quarterly dividend rate of will be applicable to dividends declared after June 23, 2010. The yield based on the new payout is 2.34%.
BioMed Realty Trust (BMR) acquires, develops and manages laboratory and office space for the life science industry. June 15th the company increases its quarterly dividend 7.1% to $0.15/share. The dividend is equivalent to an annualized dividend of $0.60 per common share. The yield based on the new payout is 3.33%.
Oil-Dri Corporation of America (ODC) develops, manufactures and markets sorbent products. June 15th the company increased its quarterly dividend 7% to $0.16/share. The dividends will be payable on September 3, 2010, to stockholders of record at the close of business on August 20, 2010. The yield based on the new payout is 2.82%.
John Wiley & Sons (JW-A) is a global publisher that produces print and electronic products, providing content and solutions to customers worldwide. June 17th the company increased its quarterly dividend 14% to $0.16/share. The dividend is payable on July 14, 2010 to shareholders of record on July 6, 2010. The ex-dividend date is July 2, 2010. JWA-A is a Dividend Achiever and has raised its dividend for 17 consecutive years. The yield based on the new payout is 1.65%.
CreXus Investment (CXS) is a specialty finance company that acquires, manages, and finances, commercial mortgage loans and other commercial real estate-related assets. June 17th the company increased its quarterly dividend 71% to $0.12/share. The dividend is payable July 28, 2010 to common shareholders of record on June 28, 2010. The ex-dividend date is June 24, 2010. The yield based on the new payout is 3.88%.
Annaly Capital (NLY) owns and manages a portfolio of agency mortgage-backed securities and operates a fixed income asset management business. June 17th the company increased its quarterly dividend 4.6% to $0.68/share. The dividend is payable July 29, 2010 to common shareholders of record on June 29, 2010. The ex-dividend date is June 25, 2010. The yield based on the new payout is 15.54%.
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.
Full Disclosure: No position in the aforementioned securities. See a list of all my income holdings here.
– 20 Dividend Stocks With A 20% Yield In 20 Years
– In Dividend Investing, Cash Is King
– The Next Great Company
– Searching the World For The Best Dividend Stocks
– Increasing Dividend Yield Part III: Preferred Stock