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The S&P 500 Index edged slightly higher last week as investors began digesting a slew of fresh earnings reports. While several companies disappointed, a number of large businesses delivered happy news in the form of dividend increases.
Among the companies that boosted their payouts over the last week were 10 notable dividend stocks, including two packaged food companies, three midstream energy companies, and a major paint manufacturer.
Here are those 10 dividend stocks increasing payouts:
ConAgra Brands Inc (NYSE:CAG) raised its quarterly dividend by 6%, increasing it to 21.25 cents per share from 20 cents. The packaged food company will pay its higher dividend on August 31 to shareholders of record as of July 31. CAG shares will trade ex-dividend on July 27.
CAG Dividend Yield: 2.51%
Duke Energy Corp (NYSE:DUK) increased its quarterly dividend by 4% to 89 cents per share from 85.5 cents. Shareholders of record as of August 18 will receive dividends from the regulated utility on September 18. The company’s shares will go ex-dividend on August 16.
DUK Dividend Yield: 4.18%
J M Smucker Co (NYSE:SJM) announced a 4% increase to its quarterly dividend, raising it to 78 cents per share from 75 cents. Dividends will be paid from the food and beverage manufacturer on September 1 to shareholders of record as of August 11. SJM shares become ex-dividend on August 9.
SJM Dividend Yield: 2.63%
Magellan Midstream Partners, L.P. (NYSE:MMP) increased its quarterly dividend by 2%, raising its payment to 89 cents per share from 87.25 cents. Shareholders of record as of July 31 will receive dividends from the energy transportation, storage, and distribution company on August 14. The company’s shares will go ex-dividend on July 27.
MMP Dividend Yield: 5.08%
Phillips 66 Partners LP (NYSE:PSXP) announced a 5% hike to its quarterly dividend, increasing its payout to 61.5 cents per share from 58.6 cents. The operator of oil and gas terminals and pipelines will send its higher dividend payment out on August 11 to shareholders of record as of July 31. PSXP shares will trade ex-dividend on July 27.
PSXP Dividend Yield: 4.88%
PPG Industries, Inc. (NYSE:PPG) announced a 13% increase to its quarterly dividend, raising it to 45 cents per share from 40 cents. Dividends will be paid by the global coatings company on September 12 to shareholders of record as of August 10. PPG shares become ex-dividend on August 8.
PPG Dividend Yield: 1.69%