Dividend-paying stocks update, July 21, 2014: Dividends paid by S&P 500 Index companies will climb almost as much in the next five years as they did during the last four, according to Rod Smyth, chief investment strategist at global asset management firm RiverFront Investment Group LLC.
Smyth estimates payouts will grow 40% through 2019, barring any "significant earnings downturn." He sees growth coming from rising profits, which he believes will be distributed in a greater percentage via dividends.
"The case for dividend growth over the next five years is very compelling," Smyth wrote in a report last week and reported by Bloomberg. Income-hungry investors may do better with stocks than bonds, the Richmond, Va.-based strategist added.
That means it's a good time for investors to add dividends to their portfolios. With dividend growth a key factor in a good dividend stock, check out this list of the 31 dividend-paying stocks that increased payouts during the week ending July 18.
Dividend Stocks That Just Hiked Payouts
Itau Unibanco Holding SA (NYSE ADR: ITUB) boosted its monthly dividend 9.8% to $0.006 a share for a 4.8% yield.
Bassett Furniture Industries Inc. (Nasdaq: BSET) raised its quarterly payout $0.02 to $0.08 a share for a 2.06% yield. Bassett halted payouts in February 2009, ending 74 years of continuous disbursement. Dividends resumed in May 2011 at $0.03 a share. Last week's boost is the fourth since then.
The Blackstone Group LP (NYSE: BX) grew its dividend 57.1%, or $0.20, to $0.55 a share for a 3.89% yield. The increase came after the investment management firm reported Q2 earnings last week that more than doubled year over year.
CIT Group Inc. (NYSE: CIT) upped its quarterly dividend a nickel to $0.15 a share for a 1.37% yield.
Compressco Partners LP (NYSE: GSJK) boosted its quarterly payout 1.7% to $0.45 a share for a 6.9% yield.
Cytec Industries Inc. (NYSE: CYT) doubled its quarterly dividend to $0.25 a share for a yield just shy of 1%. CYT has been paying dividends for a decade. The New Jersey-based specialty material and chemical company also declared a 2-for-1 split - its second since its 1993 initial public offering - payable on Sept. 17 to shareholders of record Sept. 2.
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Education Realty Trust Inc. (NYSE: EDR) increased its quarterly payout a penny to $0.12 a share for a 4.32% yield.
Golar LNG Partners LP (Nasdaq: GMLP) raised its quarterly dividend 4.8% to $0.54 a share for a 6.11% yield.
The Goodyear Tire & Rubber Co. (Nasdaq: GT) goosed its quarterly payout a penny to $0.06 a share for a near 1% yield.
Greene County Bancorp (Nasdaq: GCBC) boosted its quarterly dividend 2.9% to $0.18 a share for a 2.75% yield.
HealthSouth Corp. (NYSE: HLS) hiked its quarterly dividend $0.03 to $0.21 a share for a 2.34% yield.
Hi-Crush Partners LP (NYSE: HCLP) hoisted its quarterly payout 9.5% to $0.57 a share for a 3.54% yield.
The JM Smucker Co. (NYSE: SJM) juiced its quarterly dividend $0.06 to $0.64 a share for a 2.42% yield. The jam maker has paid uninterrupted dividends since becoming a public company in 1959. Payouts have been rising since mid-2002.
Kinder Morgan Inc. (NYSE: KMI) moved its quarterly dividend up a penny to $0.43 a share for a 4.58% yield.
Kinder Morgan Energy Partners LP (NYSE: KMP) hiked its quarterly dividend a penny to $1.39 a share for a 6.73% yield.
National Retail Properties Inc. (NYSE: NNN) raised its quarterly payout $0.02 to $0.42 a share for a 4.44% yield.
Penske Automotive Group Inc. (NYSE: PAG) padded its quarterly payout a penny to $0.20 a share for a 1.64% yield.
Ryder Systems Inc. (NYSE: R) raised its quarterly dividend $0.03 to $0.37 a share for a 1.65% yield. The increase will be reflected in the company's Sept. 19 payout, its 152nd consecutive quarterly dividend, which marks 38 years of uninterrupted dividend payments.
SanDisk Corp. (Nasdaq: SNDK) sweetened its quarterly payout 33.3% to $0.30 a share for a 1.27% yield. Find out here why Money Morning Executive Editor William Patalon III sees SNDK's 10% sell-off last week as a stock market "gift."
Seadrill Partners LLC (NYSE: SDLP) raised its quarterly distribution 7% to $0.54 a share for a 6.3% yield.
Sierra Bancorp (Nasdaq: BSRR) boosted its quarterly payout a penny to $0.09 a share for a 2.34% yield.
Southern National Bancorp of Virginia Inc. (Nasdaq: SONA) hiked its quarterly dividend 14.3% to $0.08 a share for 3% yield.
Susquehanna Bancshares Inc. (Nasdaq: SUSQ) increased its quarterly dividend a penny to $0.09 a share for a 3.5% yield.
Targa Resources Corp. (NYSE: TRGP) raised its quarterly payout 6.6% to $0.69 a share for a 2% yield.
Targa Resources Partners LP (NYSE: NGLS) boosted its quarterly disbursement 2.3% to $0.78 a share for a 4.46% yield.
TransMontaigne Partners LP (NYSE: TLP) increased its quarterly payout 0.6% to $0.665 a share for a 6.08% yield.
Unum Group (NYSE: UNM) upped its quarterly dividend 13.8% to $0.16 a share for a 1.9% yield.
Valero Energy Partners LP (NYSE: VLP) hiked its quarterly payout 4.7% to $0.22 a share for a 1.87% yield.
Vulcan Material Co. (NYSE: VMC) increased its quarterly dividend 20% to $0.06 a share for a 0.37% yield.
West Pharmaceutical Services Inc. (NYSE: WST) raised its quarterly payout a penny to $0.11 a share for a 1% yield.
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