Below are several stocks displaying confidence in the future by increasing their cash dividends:

Stanley Black & Decker (SWK) is a diversified global provider of hand tools, power tools and related accessories and systems. The company is a result of the the March 2010 merger of StanleyWorks and Black & Decker. July 16th the company increased its quarterly dividend 3% to $0.34/share. The dividend is payable on Sept. 21 to shareholders of record on Sept. 3. The ex-dividend date is September 1. SWK is a Dividend Aristocrat and has raised its dividend for 43 consecutive years. The yield based on the new payout is 2.58%.

Ryder System (R) provides truck leasing and rental, logistics and supply chain management solutions. July 16th the company raised its quarterly dividend to $0.27/share. The dividend is payable on September 17, 2010, to shareholders of record on August 23, 2010. The yield based on the new payout is 2.60%.

Digital Realty Trust (DLR) is a REIT specializing in the ownership, acquisition, development, redevelopment, and management of technology-related properties. July 20th the company raised its quarterly dividend 10% to $0.53/share. The dividend is payable on September 30, 2010, to common stockholders of record as of the close of business on September 15, 2010, with an ex-dividend date of September 13, 2010. The yield based on the new payout is 3.44%.

Lindsay Corp. (LNN) designs, makes and markets center pivot and lateral move irrigation systems. It also produces crash cushions, specialty barriers and diameter tubing, and offers outsource manufacturing. July 20th the company raised its quarterly dividend 6% to $0.085/share. The dividend is payable August 31, 2010, to shareholders of record on August 17, 2010. The ex-dividend date is August 13, 2010. The yield based on the new payout is 1.02%.

Western Gas Partners (WES) engages in the business of gathering, compressing, treating and transporting natural gas for its ultimate parent, Anadarko Petroleum Corp., and others. July 20th the partnership increased its quarterly distribution 3% to $0.35/unit. The distribution is payable on August 13, 2010 to unitholders of record at the close of business on July 30, 2010. The ex-distribution date is July 28, 2010. The yield based on the new payout is 5.88%.

El Paso Pipeline Partners (EPB) owns and operates natural gas transportation pipelines and storage assets. July 20th the partnership raised its quarterly distribution 5% to $0.40/unit. The distribution will be paid August 13, 2010 on all outstanding common and subordinated units to holders of record as of the close of business on July 30, 2010. The ex-dividend date is July 28, 2010. The yield based on the new payout is 5.17%.

Applied Industrial Technologies (AIT) is a North American distributor of industrial products and provides fluid power, mechanical, and rubber shop services. July 20th the company raised its quarterly dividend 13% to $0.17/share. The dividend is a payable on August 31, 2010, to shareholders of record on August 16, 2010. The ex-dividend date is August 12, 2010. The yield based on the new payout is 2.55%.

AptarGroup, Inc. (ATR) designs, manufactures, and sells consumer product dispensing systems for the personal care, fragrance/cosmetic, pharmaceutical, household, and food/beverage markets. July 20th the company raised its quarterly dividend 20% to $0.18/share. The dividend is payable August 24, 2010 to shareholders of record as of August 3, 2010. The ex-dividend date is July 30, 2010. ATR is a Dividend Achiever and has raised its dividend for 16 consecutive years. The yield based on the new payout is 1.79%.

Airgas (ARG) is a leading distributor of industrial, medical, and specialty gases and related equipment also distributes safety and other disposable supplies through its network of stores. July 21st the company increased its quarterly dividend to $0.25/share. The yield based on the new payout is 1.54%.

Vanguard Natural Resources (VNR) acquires and develops natural gas and oil properties in the Appalachian Basin, primarily in Kentucky and Tennessee, and in Texas and New Mexico in the Permian Basin. July 21st the company raised its quarterly distribution 4.8% to $0.55/unit. The distribution will be payable on August 13, 2010 to unitholders of record on August 6, 2010. The ex-distribution date is August 4, 2010. Yield on the distribution is 9.1%. The yield based on the new payout is 8.98%.

Eaton (ETN) is a diversified industrial manufacturer of products including electrical systems and components for power management, truck transmissions and fluid power systems, and services for industrial, mobile and aircraft equipment.
July 21st the company increased its quarterly dividend 16% to $0.58/share. The dividend is payable on August 27, 2010, to shareholders of record at the close of business on August 9, 2010. The ex-dividend date is August 5, 2010. The yield based on the new payout is 3.17%.

Westfield Financial Inc. (WFD) provides various banking products and services to businesses and individuals in Massachusetts. July 21st the company raised its quarterly dividend 20% to $0.06/share. The dividend is payable on August 18, 2010 to all shareholders of record on August 4, 2010. The ex-dividend date is August 2, 2010. The yield based on the new payout is 2.97%.

Starbucks Corp. (SBUX) is the leading coffee roaster and retailer of high-quality coffee products in the world, which it sells through its approximately 16,700 retail stores globally, as well as increasingly through multiple retail channels. July 21st the company increases its quarterly dividend 30% to $0.13/share. The dividend is payable on August 20, 2010, to shareholders of record at the close of business on August 4, 2010. The ex-dividend date is August 2, 2010. The yield based on the new payout is 2.07%.

Navios Maritime Partners (NMM) owns and operates drybulk carriers in Greece. July 22nd the partnership raised its quarterly distribution 1.2% to $0.42/unit. The distribution is payable on August 12, 2010 to unit holders of record as of August 9, 2010. The ex-distribution date is August 5, 2010. The yield based on the new payout is 9.45%.

Spectra Energy Partners (SEP) transports natural gas through interstate pipeline systems, and stores natural gas in underground facilities in the United States. July 22nd the partnership increased its quarterly dividend 2.4% to $0.43/unit. The distribution is payable on August 13, 2010, to unitholders of record at the close of business on August 3, 2010. The ex-distribution date is July 30, 2010. The yield based on the new payout is 4.80%.

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 stocks. See a list of all my income holdings here.

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(Photo Credit)

This week a large number of companies chose to step up and reward their investors with higher cash dividends:

Enterprise Bancorp (EBTC) provides various banking products and services in Massachusetts and New Hampshire. January 19th the company increased its quarterly dividend 5.3% to $0.10/share. The dividend is to be paid on March 1, 2010 to shareholders of record as of February 8, 2010. The ex-dividend date is February 4, 2010. The yield based on the new payout is 3.80%.

ONEOK Partners (OKS) is a leading transporter of natural gas and natural gas liquids (NGLs) in the Mid-Continent area to market centers in the U.S. January 20th the partnership raised its quarterly distribution to $1.10/unit. The distribution is payable Feb. 12, 2010, to unitholders of record as of Jan. 29, 2010. ONEOK Partners has increased its distribution by more than 38 percent since April 2006, when a wholly owned subsidiary of ONEOK, Inc. (NYSE: OKE) became general partner. The yield based on the new payout is 6.67%.

McGraw-Hill (MHP) is a leading information services organization serving worldwide markets in education, business, industry, other professions and government. January 20th the company boosted its quarterly dividend 4.4% to $0.235/share. The dividend is payable on March 10, 2010, to shareholders of record on February 24, 2010. MHP is a Dividend Aristocrat and has raised its dividend for 37 consecutive years. The yield based on the new payout is 2.88%.

Omega Healthcare (OHI) is a real estate investment trust that invests in and provides financing to the long-term care industry with health care facilities in 27 states. January 20th the company increased its quarterly dividend to $0.32/share. The dividend is to be paid February 16, 2010 to common stockholders of record on January 29, 2010. The ex-dividend date is January 27, 2010. The yield based on the new payout is 6.42%.

Tiffany (TIF) is a leading international retailer, designer, manufacturer, and distributor of fine jewelry and gift items. January 21st the company raised its quarterly dividend by 18% to $0.20/share and announced it will resume share buybacks. The new dividend is effective with the next payment in April. The yield based on the new payout is 1.92%.

Washington Post (WPO) publishes The Washington Post newspaper and Newsweek magazine, operates TV stations and cable systems, and provides education and database services. January 21st the company bumped its quarterly dividend $2.25/share. The dividend is payable on February 5, 2010, to shareholders of record on January 25, 2010. The yield based on the new payout is 2.01%.

Family Dollar (FDO) operates a chain of more than 6,650 retail discount stores in 44 states across the U.S. January 21st the company increased its quarterly dividend 14.8% to $0.155/share.The dividend is payable Thursday, April 15, 2010, to shareholders of record at the close of business on Monday, March 15, 2010. FDO is a Dividend Aristocrat and has raised its dividend for 34 consecutive years. The yield based on the new payout is 2.01%.

Wesco Financial (WSC) engages in three principal businesses through its subsidiaries: insurance, furniture rental, and steel services. January 21st the company increased its quarterly to $0.41/share. The dividend is payable March 4, 2010 to shareholders of record at the close of business on February 4, 2010. The ex-dividend date is February 2, 2010. WSC is a Dividend Achiever and has raised its dividend for 38 consecutive years. The yield based on the new payout is 0.46%.

Polaris Industries (PII) manufactures snowmobiles, all-terrain vehicles, motorcycles, and related accessories for recreational and/or utility use. January 21st the company raised its quarterly dividend 3% to $0.40/share. The dividend is payable on February 16, 2010 to shareholders of record at the close of business on February 1, 2010. PII is a Dividend Achiever and has raised its dividend for 15 consecutive years. The yield based on the new payout is 3.61%.

Spectra Energy Partners (SEP) transports natural gas through interstate pipeline systems, and stores natural gas in underground facilities in the United States. January 21st the partnership boosted its quarterly distribution 2.5% to $0.41/unit. The distribution is payable on February 12, 2010, to unitholders of record at the close of business on February 2, 2010. The yield based on the new payout is 5.40%.

Pall Corp (PLL) is a leading producer of filters for the health care, aerospace, microelectronics, and other industries. January 21st the company increased its quarterly dividend to $0.16/share. The dividend is payable on February 23, 2010 to shareholders of record as of February 9, 2010. The ex-dividend date is February 5, 2010. The yield based on the new payout is 1.75%.

Consolidated Edison (ED) is an electric and gas utility holding company serving parts of New York, New Jersey, and Pennsylvania. January 21st the company raised its quarterly dividend to $0.595/share. ED is a Dividend Aristocrat and has raised its dividend for 36 consecutive years. The yield based on the new payout is 5.22%.

Finish Line (FINL) is a mall-based specialty retailer. January 21st the company bumped it quarterly dividend to $0.04/share. The dividend is payable March 15, 2010 to shareholders of record as of February 26, 2010. The ex-dividend date is February 24, 2010. The yield based on the new payout is 1.38%.

Although growing its dividend is important, to be a great dividend stock a company must do it on a consistent basis. 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.

(Photo Credit)

On May 6th, PEP extended its string of dividend increases to 37 consecutive years by announcing a 6% increase in the annual dividend to $1.80/share.  The quarterly dividend of $0.45 is payable June 30, 2009, to shareholders of record on June 5, 2009.   PepsiCo Chairman and CEO Indra Nooyi said, “We are pleased to announce our thirty-seventh annual dividend increase, reflecting the strength of our cash flow and balance sheet. Even in this difficult economy, we are committed to return cash to our shareholders while continuing to invest in the long-term growth of our business.” Based on the new rate, PEP is currently yielding 3.64%. (Analysis)

Below are several other companies, like PEP, that are returning cash to their shareholders with higher cash dividends:

• Alcon (ACL) increases its annual dividend 39% to $3.49, yielding 3.63%
• Spectra Energy Partners (SEP) raises its quarterly dividend 11.4% to $0.39/share, yielding 6.90%
• Tower Group (TWGP) boosts it quarterly dividend 40% to $0.07/share, yielding 1.04%
• Avista (AVA) bumps its quarterly dividend 16.7% to $0.21/share, yielding 5.04%
• RLI (RLI) increases its quarterly dividend 3.8% to $0.27/share, yielding 2.30%
• Expeditors Int’l of Washington (EXPD) raises quarterly dividend 19% to $0.19/share, yielding 2.26%

It is great to see a substantial number of companies raising their dividends and keeping alive the momentum that was started last week. For more companies with a long string of consecutive dividend increases, see this list.

Full Disclosure: Long PEP. See a list of all my income holdings here.

(Photo: Steve Woods)