Investors are crowding into dividend stocks not simply for their dividend yield, but also because they drive long-term performance in the stock market.
According to a recent study by Guinness Global Equity Income Fund, $100 invested in the Standard & Poor's 500 Index in late 1940 would have amounted to $17,460 by the end of 2013 if dividends weren't reinvested. But with reinvesting the profits gained from dividend yields , that $100 would have grown to a hefty $265,851.
Last week, 45 dividend increases were announced, and banks dominated the list. Seven regional banks, one Mumbai, India multinational bank, and a New York-based banking behemoth all boosted payouts.
Additionally, Banco Bradesco SA (NYSE: BBDO) declared a penny-per-share special dividend, and Bank of the Ozarks Inc. (Nasdaq: OZRK) announced a 2-for-1 stock dividend.
Following are 30 notable dividend stocks that hiked payouts in the week ending May 23.
Stocks That Just Boosted Their Dividend Yields
American Water Works Co. Inc. (NYSE: AWR) upped its quarterly dividend 5.2% to $0.213 a share for a 2.6% yield. The San Dimas, Calif.-based company has been paying dividends for 313 straight quarters and raising them for 60 consecutive years.
American Tower Corp. (NYSE: AMT) raised its quarterly payout 6.3% to $0.34 a share for a 1.54% yield.
Booz Allen Hamilton Holding Corp. (NYSE: BAH) boosted its quarterly payout a penny to $0.11 a share for a 1.84% yield.
Bunge Ltd. (NYSE: BG) hiked its quarterly dividend $0.04 to $0.34 a share for a 1.58% yield.
C&F Financial Corp. (Nasdaq: CFFI) hoisted its quarterly dividend 3.4% to $0.30 a share for a 3.5% yield.
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Computer Sciences Corp. (NYSE: CSC) increased its quarterly payout $0.03 to $0.23 a share for a 1.49% dividend yield. The company's board also approved a $1.5 billion share repurchase program.
Cryolife Inc. (NYSE: CRY) upped its quarterly dividend 9% to $0.03 a share for a yield of 1.26%.
Delhaize Group (NYSE ADR: DEG) goosed its annual payout 18% to $0.53 a share for a 3% yield.
Donaldson Company Inc. (NYSE: DCI) raised its quarterly payout 17.9% to $0.16 a share for a yield of 1.63%.
Fedfirst Financial Corp. (Nasdaq: FFCO) increased its quarterly dividend $0.02 to $0.08 a share for 1.46% yield. When annualized, the dividend yield represents roughly 44% of net income achieved over the last 12 months.
First Financial Corp. (Nasdaq: THFF) hiked its quarterly payout a penny to $0.49 a share for a 3.1% yield.
First Midwest Bancorp. Inc. (Nasdaq: FMBI) raised its quarterly dividend 14.3% to $0.08 a share for 2% yield. The Illinois-based bank has been paying dividends since its inception in 1983, or 126 consecutive quarters.
Flowers Foods Inc. (NYSE: FLO) fattened its quarterly payout 6.7% to $0.12 a share for a 2.29% yield.
HDFC Bank Ltd. (NYSE ADR: HDB) boosted its annual dividend 26.5% to $0.26 a share for a yield approaching 1%.
Joy Global Inc. (NYSE: JOY) increased its quarterly dividend 14.3% to $0.20 a share for a 1.2% yield. "We are increasing our dividend as part of our strategy to optimize the allocation of our capital between growth investments and returns to our shareholders while maintain a strong balance sheet," Jim Sullivan, Chief Financial Officer, said in a statement.
JP Morgan Chase & Co. (NYSE: JPM) raised its quarterly dividend $0.02 to $0.40 a share for a yield just shy of 3%. The dividend enrichment is reflective of the U.S. Federal Reserve's 2014 Comprehensive Analysis and Review results, as well as JPM's commitment to reward shareholders. The New York-headquartered bank also authorized a $6.5 billion share repurchase program through March 31, 2015.
Midsouth Bancorp Inc. (NYSE: MSL) moved its quarterly dividend up a penny to $0.09 a share for a yield just short of 2%. The Louisiana bank has been paying uninterrupted quarterly dividends since 1995.
NetApp Inc. (Nasdaq: NTAP) increased its quarterly payout 10% to $0.16 a share for a 1.85% dividend yield.
Neehah Paper Inc. (NYSE: NP) raised its quarterly dividend $0.03 to $0.27 a share for a yield near 2%.
Northrup Grumman Corp. (NYSE: NOC) hiked its quarterly payout $0.11 to $0.70 a share for a 2.33% yield. The dividend enrichment marks the defense company's 11th consecutive annual increase.
Omincom Group Inc. (NYSE: OMC) increased its quarterly dividend a dime to $0.50 a share for a 2.87% yield. The hike comes as the New York advertising giant abandoned a $35 billion merger with France's Publicis Groupe.
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Permian Basin Royalty Trust (NYSE: PBT) boosted its monthly payout 39.3% to $0.12 a share for a 7.05% yield.
Republic Bancorp Inc. KY (Nasdaq: RBCAA) raised its quarterly dividend 6.3% to $0.187 a share for a 3.21% yield.
Tiffany & Co. (NYSE: TIF) upped its dividend 11.8%, or $0.04, to $0.38 a share for 1.6% yield. It's the luxury jeweler's 13th dividend enhancement in the past 12 years.
TowneBank (Nasdaq: TOWN) increased its quarterly payout by a penny to $0.11 a share for a 2.84% yield.
Trinity Biotech Plc (Nasdaq ADR: TRIB) boosted its annual payout 340% to $0.88 a share for a new yield of 3.72%.
United Fire Group Inc. (Nasdaq: UFCS) upped its quarterly payout $0.02 to $0.20 a share for a near 3% yield. The hike is the property and casualty company's second boost since May 2013.
Viacom Inc. (Nasdaq: VIA) raised its quarterly dividend $0.03 to $0.33 a share for a 1.55% yield. "As we increase investment in content and build our business worldwide, we remain committed to also returning significant capital to our shareholders," Chief Executive Officer Philippe Dauman said in a statement.
Williams Companies Inc. (NYSE: WMB) hiked its quarterly dividend $0.02 to $0.42 a share for a 3.63% yield. The Tulsa, Okla.-based energy infrastructure company said it aims to increase quarterly dividends by 20% annually through 2016. WMB has paid dividends every quarter for the last 40 years.
W.R. Berkley Corp. (NYSE: WRB) boosted its quarterly payout a penny to $0.11 a share for a dividend yield of 1%.
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