The profusion of dividend-paying stocks that have increased payouts over the last several weeks reflects a robust second-quarter earnings season.
Indeed, companies in the S&P 500 Index turned in 10.3% earnings growth in Q2 - the highest advance since 2011's third quarter, according to S&P Capital IQ.
Full-year profit growth for the broad-based benchmark is currently forecast to come in at 8%, up from estimates of 7.5% in July. Furthermore, full-year earnings per share expectations of $118.39 would mark an all-time record for the index.
That bodes well for investors hoping for more dividend hikes. Last week Microsoft Corp. (Nasdaq: MSFT), McDonald's Corp. (NYSE: MCD), and 22 other dividend stocks hiked payouts.
Here's the full list of dividend enrichments announced during the week ending Sept. 19.
Apollo Residential Mortgage Inc. (Nasdaq: AMTG) upped its quarterly dividend $0.02 to $0.44 a share for a 10.72% yield.
Artesian Resources Corp. (Nasdaq: ARTNA) hiked its quarterly dividend 1.5% to $0.2151 a share for a 4.25% yield.
Blackstone Mortgage Trust Inc. (NYSE: BXMT) boosted its quarterly dividend $0.02 to $0.50 a share for a 7.2% yield.
Covanta Holding Corp. (NYSE: CVA) raised its quarterly dividend $0.06 to $0.25 a share for a 4.66% yield.
Covidien Plc. (NYSE: COV) increased its quarterly dividend $0.04 to $0.36 a share for a 1.6% yield.
Eaton Vance Floating-Rate Income Plus Fund (NYSE: EFF) boosted its monthly dividend 1.1% to $0.094 a share for a 6.38% yield.
Eaton Vance Senior Floating-Rate Trust (NYSE: EFR) hiked its monthly payout 2.7% to $0.074 a share for a 6.39% yield.
Eaton Vance Floating-Rate Income Trust (NYSE: EFT) increased it monthly dividend 2.8% to $0.074 a share for a 6.05% yield.
The First of Long Island Corp. (Nasdaq: FLIC) boosted its quarterly dividend $0.02 to $0.28 a share for a 3.06% yield.
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Frisch's Restaurants Inc. (NYSEMKT: FRS) fattened its quarterly dividend $0.02 to $0.20 a share for a 3% yield. The 11.1% increase is the full-service family-style restaurant chain's 215th consecutive quarterly dividend. The Cincinnati-based company has reported a profit every year since going public in 1960 and has paid cash dividends to shareholders every quarter over the same period.
Great Northern Iron Ore Properties (NYSE: GNI) raised its quarterly dividend a dime to $2.60 a share for a hefty 39.19% yield.
IdaCorp Inc. (NYSE: IDA) increased its quarterly dividend $0.04 to $0.47 a share for a 3.12% yield. At the new rate, the Idaho-based power company's annual dividend rate is an attractive $1.88 per share.
Iron Mountain Inc. (NYSE: IRM) boosted its quarterly payout 76% to $0.475 a share for a 5.33% yield.
Kayne Anderson MLP Investment Co. (NYSE: KYN) raised its quarterly dividend a penny to $0.65 a share for a 6.22% yield.
Kayne Anderson Energy Total Return Fund (NYSE: KYE) upped its quarterly payout 1% to $0.485 a share for a 6% yield.
Kroger Co. (NYSE: KR) increased its quarterly dividend 12% to $0.18 a share for a 1.42% yield. Kroger has returned more than $10 billion to shareholders through dividends and share repurchases since reinstating dividends in 2006. The supermarket chain said it expects to continue boosting payouts.
McDonald's Corp. (NYSE: MCD) moved its quarterly dividend up $0.04 to $0.85 a share for a 3.43% yield. The 5% dividend enrichment, which comes even as the fast-food giant struggles with slumping sales and waning customer traffic, marks MCD's 38th straight annual dividend boost.
Microsoft Corp. (Nasdaq: MSFT) hiked its quarterly dividend $0.03 to $0.31 a share for 2.61% yield. The 11% dividend enhancement is in line with the software behemoth's revenue growth in its latest fiscal year, but is half last year's 22% boost. MSFT has been under pressure from activist investors to return more of its cash stash, which rose some 11% to nearly $86 billion over the last 12 months, to shareholders.
Sanderson Farms Inc. (Nasdaq: SAFM) sweetened its quarterly payout $0.02 to $0.22 a share for a yield just shy of 1%. The Mississippi poultry processor also announced a special cash dividend payment of $0.50 a share. The enriched and extra dividend are both payable on Oct. 14 to shareholders of record Sept. 30.
Sasol Ltd. (NYSE ADR: SSL) juiced its semi-annual dividend 66.8% to $1.26 a share for a 3.57% yield.
U.S. Bancorp (DE) PRFD H (NYSE: USB-H) upped its quarterly payout 1.1% to $0.223 a share for a 4.08% yield.
W.P. Carey Inc. (NYSE: WPC) goosed its quarterly dividend $0.04 to $0.94 a share for a 5.3% yield. The boost marks WPC's 54th consecutive quarterly dividend increase. Since its initial public offering in 1998, WPC has paid more than $1.5 billion in dividends to investors.
Washington Trust Bancorp (Nasdaq: WASH) hiked its quarterly dividend $0.03 to $0.32 a share for a 3.7% yield.
WSFS Financial Corp. (Nasdaq: WSFS) raised its quarterly payout $0.03 to $0.15 a share for a yield approaching 1%.
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