Altria (NYSE: MO) Plus 28 More Dividend-Paying Stocks That Just Hiked Payouts

Payout hikes for dividend-paying stocks were plentiful last week, and topping the list is Altria Group Inc. (NYSE: MO), which raised its regular quarterly dividend for the 48th time in the last 45 years.

Dividend-Paying Stocks: AltriaThe tobacco giant announced Thursday it's boosting its quarterly payout 8.3%, or $0.04, to $0.52 per share. The new annualized dividend rate of the Richmond, Va.-headquartered company is $2.08 per share, for a near 5% yield.

The latest boost from the dividend aristocrat, best known for its Marlboro brand, is consistent with Altria's dividend payout ratio target of 80% of adjusted earnings per share. Altria shares are up nearly 11% year to date.

Altria is just one company that hiked its payout last week. Following are the 28 others that sweetened the dividend pot during the week ending Aug. 22, 2014.

Dividend Stocks That Just Boosted Payouts

BHP Billiton Ltd. (NYSE ADR: BHP) boosted its semi-annual dividend $0.06 to $1.24 a share for a 3.47% yield. The hike came as BHP announced plans to form a new global metals and mining company based around its aluminum, coal, manganese, nickel, and silver assets. "With a simpler portfolio, we are targeting sustainable, productivity-led gains of at least $3.5B per annum by the end of the 2017 financial year," Chief Executive Officer Andrew Mackenzie said. The demerger allows BHP to focus on its long-life iron ore, copper, coal, petroleum, and potash basins.

BHP Billiton Plc. (NYSE ADR: BBL) hiked its semi-annual payout 5.1% to $1.24 a share for a 3.47% yield.

Brinker International Inc. (NYSE: EAT) upped its quarterly dividend $0.04 to $0.28 a share for a 1.94% yield. The leading casual dining company also authorized an additional $350 million in share repurchases, bringing its total share repurchase authorization to approximately $3.9 billion.

Chemical Financial Corp. (NYSE: CHFC) raised its quarterly dividend a penny to $0.24 a share for a 3.34% yield.

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Connecticut Water Service Inc. (Nasdaq: CTWS) increased its quarterly distribution 4% to $0.25 a share for a 3.14% yield. The increase was the largest since the company's founding 58 years ago. CTWS has paid uninterrupted quarterly dividends since its 1956 inception and has increased them in each of the last 45 years.

Cross Timbers Royalty Trust (NYSE: CRT) raised its monthly disbursement 10.4% to $0.25 a share for an 8.77% yield.

Delta Natural Gas Co. Inc. (Nasdaq: DGAS) boosted its quarterly dividend a penny to $0.20 a share for a near 4% yield.

Dominion Resources Black Warrior Trust (NYSE: DOM) upped its quarterly payout 1.1% to $0.19 a share for a 10.69% yield.

Evans Bancorp Inc. (NYSEMKT: EVBN) elevated its semi-annual payout 9.7% to $0.31 a share for a 2.94% yield.

G&K Services Inc. (Nasdaq: GK) goosed its quarterly dividend $0.04 to $0.31 a share for a 1.95% yield.

H&Q Healthcare Investors (NYSE: HQH) raised its quarterly dividend $0.02 to $0.56 a share for a yield just shy of 8%.

H&Q Life Sciences Investors (NYSE: HQL) hiked its quarterly payout $0.02 to $0.45 a share for a 7.9% yield.

HCC Insurance Holdings Inc. (NYSE: HCC) juiced its quarterly dividend 31.1% to $0.29 a share for a 2.4% yield.

ITC Holdings Corp. (NYSE: ITC) increased its quarterly dividend $0.02 to $0.165 a share for a 1.74% yield. It's the ninth consecutive year the independent electricity transmission company has boosted its dividend.

Legg Mason BW Global Income Opportunities Fund Inc. (NYSE: BWG) raised its monthly disbursement 4% to $0.13 a share for an 8.64% yield.

Liberator Medical Holdings Inc. (NYSEMKTS: LBMH) upped its quarterly payout 8.3% to $0.03 a share for a 4.5% yield.

Marine Petroleum Trust (Nasdaq: MARPS) hiked its quarterly dividend 23.7% to $0.36 a share for a 8.36% yield.

Mesa Royalty Trust (NYSE: MTR) fattened its monthly payout 23.6% to $0.27 a share for 10.25% yield.

MGE Energy Inc. (Nasdaq: MGEE) juiced its quarterly dividend 4% to $0.28 a share for a 2.8% yield.

NetEase Inc. (Nasdaq ADR: NTES) increased its quarterly dividend $0.03 to $0.37 a share for a 2.42% yield.

Nordson Corp. (Nasdaq: NDSN) boosted its quarterly dividend $0.04 to $0.22 a share for a 1.1% yield. The 22% boost marks the Ohio-based company's 51st straight year of annual dividend hikes.

Royal Bank of Canada (NYSE: RY) raised its quarterly payout 6% to $0.68 a share for a 3.7% yield. The hike came on the heels of a robust Q3 in which the Canadian bank beat earnings per share forecasts by $0.06. Friday, RY shares hit an intraday all-time high of $75.08.

Stage Stores Inc. (NYSE: SSI) sweetened its quarterly payout 12% to $0.14 a share for a 3.37% yield.

Strattec Security Corp. (NYSE: STRT) increased its quarterly dividend a penny to $0.12 a share for a 0.60% yield.

United Bancshares Inc. OH (Nasdaq: UBOH) upped its quarterly payout $0.02 to $0.07 a share for a 1.87% yield.

Western Asset Mortgage Defined Opportunity Fund Inc. (NYSE: DMO) boosted its monthly payout a whopping 299% to $0.16. This represents a $1.92 annualized dividend and 7.85% yield.

Weyerhaeuser Co. (NYSE: WY) hiked its dividend 32% to $0.29 a share for a 3.38% yield. With the latest boost, the timberland giant has boosted cash payouts 93% since 2011.

Williams Companies Inc. (NYSE: WMB) raised its quarterly dividend 31.8% to $0.51 a share for a 3.83% yield. The hefty hike is consistent with Williams' previously announced plans to increase its Q3 dividend by $0.135, or 32%, from the previous quarterly dividend. The sharp increase is thanks to the July 1 acquisition of controlling interests in Access Midstream Partners.

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