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Oil is no longer dominating the headlines on a daily basis anymore, but it’s still a lingering overhang for the market. And although oil prices have already been cut in half, there’s the very real possibility that it could go even lower.
With that, we’re still believers in dividend investing. The idea is that dividend stocks are less volatile and offer income, which can help offset share price declines.
So, each week we dig through the various companies that pay a dividend. This week we’ve picked out what we feel are the top five that are actually upping their dividends.
Last week’s dividend increases included some big names, including of Pfizer (NYSE: PFE) and Norfolk Southern Corp. (NYSE: NSC). This week we have another major pharma company and one of the oldest dividend aristocrats around. Without further ado, here are the top five dividend increases from this week.
Dividend Increase No. 1: Simon Property Group (NYSE: SPG)
This real estate investment trust (REIT) owns and manages shopping centers, mainly malls. Simon Property Group is fairly diversified, geographically, across the U.S. Last year it spun off its strip-mall business, which is now trading as WP Glimcher (NYSE: WPG) and pays a 5.8% dividend yield.
The REIT offers a 2.9% dividend yield and is boosting its quarterly dividend by 8% this week, to $1.40 a share. Simon Property Group has now upped its dividend for five straight years.
Shares trade ex-dividend on Feb. 11.
Dividend Increase No. 2: Apartment Investment & Management Co. (NYSE: AIV)
Apartment Investment & Management Co. is another REIT that is paying out more to shareholders. It is a major owner of multi-family apartments, with some 240 properties across the U.S. The REIT is looking to reposition its property portfolio to increase its average rent per unit. This includes selling off underperforming communities and repositioning itself in the bustling coastal market.
This REIT offers a nearly 2.9% dividend yield and will be upping its quarterly dividend from 26 cents a share to 28 cents this week. It’s now increased its annual dividend for four years.
Shares trade ex-dividend on Feb 11.
Dividend Increase No. 3: Eli Lilly (NYSE: LLY)
This big pharmaceutical maker produces drugs that treat the likes of cancer, neurological disorders, and diabetes. It’s also a major player in the animal health drug business, where competition is limited.
However, shares have been underperforming major pharma peers so far this year; as its profit are being hit due to patent losses on its Cymbalta and Evista drugs. Even still, Wall Street’s 16% earnings growth for next year tops nearly all its competitors.
Eli Lilly was one of the best dividend stocks of 2014, with shares up nearly 40% last year. This pharma company’s dividend yield comes in at 2.8%; it raised its quarterly dividend from 49 cents a share to 50 cents later this week.
The stock will trade ex-dividend on Feb. 11.
Dividend Increase No. 4: 3M Co. (NYSE: MMM)
3M is a diversified global company, making products for various industries like health care, industrials and electronics. Its core business lies in product development. Its largest segment, industrial products, includes items like masking tapes, fasteners, and adhesives.
3M is paying a 2.5% dividend yield, which is only a 50% payout of earnings. The conglomerate is upping its quarterly dividend by 20% this week to $1.025 per share. 3M also makes the very limited list of 50-year dividend growers, having raised its dividend for 57 straight years.
Shares trade ex-dividend on Feb. 11.
Dividend Increase No. 5: Boeing Co. (NYSE: BA)
Boeing is the global leader in the manufacture of commercial jets and it also has a strong presence in the defense industry. Commercial jets account for roughly 60% of Boeing’s revenues, with the majority of the rest coming from the defense and security industries. Notably, Boeing is the world’s fourth-largest military contractor.
Boeing shares offer a 2.5% dividend yield. Boeing is boosting its dividend by 25% this week from 73 cents a share to 91 cents. It’s been paying a dividend for more than 50 years and now has a streak of three straight years of dividend increases.
The stock trades ex-dividend Feb. 11.
Six times BIGGER Dividends – with this one stock
The average yield of the Dow has sunk to 2.1%. That’s just sad. However, we know of one group of investors collecting up to $550 every 30 days… from a little-known investment that yields a whopping 12%! That’s roughly six times bigger than the average yield of the Dow. If you’d like to tap into this income stream, and earn six times bigger dividends, click here for our full report on this opportunity.