Not every company is slashing its dividend these days. Some of the market's better performers are easing up on their purse strings, sending more money out to their shareholders.
Readers of the Income Investor newsletter can certainly appreciate that kind of thinking. Let's take a closer look at some of the companies that inched their payouts higher this past week.
Let's start with Mead Johnson Nutrition (NYSE: MJN ) . The baby-formula giant may have only gone public a year ago, but it already understands the importance of keeping its yield chasers happy. The Enfamil maker is fortifying its quarterly dividend by 12.5%, to $0.225 a share. It will also return money to its shareholders through a $300 million share buyback.
Garmin (Nasdaq: GRMN ) is also finding its way to the land of chunkier disbursements. This year, the GPS giant will double its annual payout to $1.50 a share, although this impressive jump is just a one-time event. The rate will revert back to $0.75 a share next year, unless the company acts otherwise.
As it seems to do every three months, Prospect Capital (Nasdaq: PSEC ) is upping its payout again. The small business lender's quarterly distributions will climb 0.3% to $0.41 a share. Sure, that's a tiny increase, but Prospect Capital has found a way to bump its rate higher in each of the past 22 quarters.
Finally, Guess? (NYSE: GES ) just eliminated any doubt about its direction. The apparel maker topped off strong fourth-quarter results by bumping its quarterly dividend 28% higher to $0.16 a share.
The last week smiled upon yield chasers, as these four companies joined others including Air Products (NYSE: APD ) , which has now hiked dividends for a whopping 28 years straight. Some of these moves may not seem like much, plenty of companies haven't been able to support even their current dividends lately.
Subscribers to the Income Investor newsletter can appreciate companies that send more and more money to their investors. The newsletter singles out businesses that are committed to growing their distributions, with market-thumping results.
Want to see what we're recommending these days? Give the newsletter service a shot with a 30-day trial subscription. Who knows? Maybe the next thing to get hiked will be your interest.
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