All has been relatively quiet on the investing front over the holidays, but dividend payments are still flowing.
Dividend investing isn’t all that exciting. But sure you have enough excitement in your life right now in the midst of the Christmas holiday and upcoming New Year’s celebration.
So, while you might be taking it easy this week, we’re not. We’ve done the hard work and sorted through the surprisingly large list of stocks paying a dividend this week and hand-picking the best stocks that are boosting their dividend payments this week.
Last week’s dividend increases included one of the most underrated batch of stocks we’ve covered yet. This week, we’re back to Dividend Aristocrats – and quite frankly some boring companies. But boring is good, especially in an increasingly turbulent market.
So let’s get to it. Here are the top five dividend increases this week:
Dividend Increase No. 1: Kimco Realty Corporation (NYSE: KIM)
Kimco is a real estate investment trust (REIT), with a focus on shopping malls. In fact, it’s the largest shopping center REIT in the country. It owns around 900 shopping centers across most of the U.S. And with the rebound in employment and the job market, more people should turn to shopping as a way to spend their extra cash.
Kimco is upping its dividend payment by 10% this week. Kimco’s new quarterly dividend payment is 24 cents a share. And it offers the highest dividend yield of our five dividend increases this week, coming in at 3.7%. What’s more is that Kimco has been paying a dividend for 22 years and upped its dividend for four straight years now.
Shares trade ex-dividend on Dec. 30.
Dividend Increase No. 2: Sysco Corporation (NYSE: SYY)
Sysco is one of those boring stocks. It is the largest distributor of food in North America, serving the food service and food-away-from-home industries. Its market share is right at 20%. Sysco is a lesser-known Dividend Aristocrat, having upped its dividend for 43 straight years. This week it is upping its dividend payment by 3% to 30 cents a share. Its dividend yield comes in at 3%.
It’ll trade ex-dividend Dec. 30.
Dividend Increase No. 3: Rent-A-Center (NASDAQ: RCII)
Rent-A-Center is a rent-to-own retailer that sells electronics, appliances and the like via rental purchase agreements. One of the key growth drivers for Rent-A-Center is Acceptance Now, which allows the company to grow much faster. The Acceptance Now model allows Rent-A-Center to open up shops inside of other retail stores to offer credit to those that otherwise wouldn’t be able to purchase the goods.
Rent-A-Center offers a 2.5% dividend yield. It’s upping its quarterly dividend payment by 4% this week to 24 cents a share. The company has paid a dividend for four years now.
Shares will trade ex-dividend Dec. 30.
Dividend Increase No. 4: Bristol-Myers Squibb (NYSE: BMY)
Bristol-Myers is a pharmaceutical company that focuses on oncology, immunoscience and cardiovascular drugs. Its prized product is Eliquis, which reduces the risk of stroke and blood clots.
Bristol-Myers’ beta is just 0.3, which means it’s 70% less volatile than the broader market. With a beta of 0.3, for every $1 the market falls, Bristol-Myers’ stock tends to only fall 30 cents.
Bristol-Myers offers a healthy 2.5% dividend yield. It is upping its quarterly dividend payment nearly 3% this week to 37 cents a share. Bristol-Myers has been paying a dividend for 37 years now and has a streak of four consecutive years of dividend increases.
Shares will trade ex-dividend on Dec. 30.
Dividend Increase No. 5: WD-40 Company (NASDAQ: WDFC)
Yet another boring company, WD-40 caters to the do-it-yourself market. Its products include WD-40, 3-IN-ONE Professional Garage and other lubricants. It’s a well-recognized product that has been steadily growing revenues over the last few years. In fact, revenue growth has been positive every year over the last decade except for 2008.
WD-40 offers the lowest dividend yield of our five stocks at 1.8%. But it’s upping its dividend yield by nearly 12% this week and has been paying a dividend for 24 years. Its new quarterly dividend payment will be up to 38 cents a share.
Shares trade ex-dividend on Dec. 31.
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