3 Dividend Increases Above 10%, But Which Offers the Most Income?

With earnings season in full swing, several stock market giants are announcing large dividend increases. Three names recently increased their dividends by 10% or more, including a mega-cap financial services company, a leading homebuilder, and a top player in the energy sector. One name provides particularly strong income returns, while also having solid dividend sustainability after adjusting for non-cash charges.

Visa Lifts Dividend by Over 16% After 2026 Rebound

Shares of payments giant Visa (NYSE: V) have gained approximately 20% in 2026, moving its market capitalization to around $750 billion. In its fiscal year 2026, Visa posted record sales of $46 billion. Note that the company’s fiscal year ends one quarter ahead of the calendar year period. The company’s strong sales momentum has helped shares recover after falling more than 15% earlier this year.

Growth in the company’s value-added services (VAS) was particularly strong, with constant currency sales rising 30% year-over-year (YOY) to $14 billion. The company projects another solid year for this segment in fiscal 2027, forecasting VAS growth in the low- to mid-20 % range.

Visa has also announced a large dividend increase of more than 16%. The company’s quarterly payout will move up to 78 cents per share, compared to 67 cents per share previously. Visa intends to pay its next dividend on Dec. 1 to shareholders of record as of the Nov. 10 close.

This lifts Visa’s forward dividend yield to approximately 0.74%. Despite this relatively low figure, Visa has grown its dividend at a brisk five-year annualized rate of more than 14%. Visa also has a low payout ratio near 22% based on trailing 12-month earnings, providing significant headroom for increases.

Homebuilder D.R. Horton Ups Dividend 11% Despite Tough 2026

D.R. Horton (NYSE: DHI) is one of the largest companies in the U.S. homebuilding industry. The company notes that it just completed its 25th consecutive year of being America’s largest homebuilder by volume. The stock has lagged the overall market in 2026, with shares nearly flat on the year.

Elevated interest rates and low housing affordability have been substantial headwinds for companies in this space. In its latest quarter, D.R. Horton’s net sales orders were down 7% YOY, and its home sales gross margin fell below expectations. In the company’s fiscal year 2026, which ends one quarter ahead of the calendar year period, revenue fell by approximately 3.5% to $33 billion. The company expects another sales decline in fiscal 2027, with midpoint revenue forecast at $31 billion.

Despite its weak recent performance, D.R. Horton has issued a hefty 11% dividend increase. The company plans to make its next 50-cent payment on Nov. 19 to shareholders of record as of Nov. 12. The stock’s forward dividend yield now sits near 1.4%. While not particularly high, DHI’s yield sits above the SPDR S&P 500 ETF Trust’s yield of approximately 1%. Based on trailing 12-month earnings, DHI’s payout ratio is around 18%, leaving its dividend well-supported.

High-Yield Energy Name MPLX Lifts Distribution Over 12%

MPLX LP (NYSE: MPLX) is a key name in the midstream portion of the energy sector, with a market capitalization near $58 billion. The stock has appreciated nearly 8% in 2026, and adding in the firm’s sizeable dividend lifts its total return to approximately 14%. In its latest quarter, MPLX reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.9 billion, an increase of 5% YOY. With multiple projects ramping in 2027, the company expects stronger EBITDA growth despite facing asset sale headwinds.

MPLX has also increased its quarterly distribution by 12.5%, which now equates to an annual distribution of $4.84 per unit. MPLX’s next payment of approximately $1.21 per unit has a record date of Nov. 6 and a payable date of Nov. 13. The stock’s forward dividend yield is now near 8.4%, giving it one of the highest yields in the U.S. energy sector.

Based on trailing 12-month earnings, MPLX’s payout ratio looks very elevated at approximately 93%. However, due to significant non-cash depreciation expenses associated with its infrastructure, a traditional payout ratio is not the best metric for assessing MPLX’s dividend sustainability. In contrast, using its cash-flow-based payout ratio near 71% makes MPLX’s dividend appear much more sustainable.

Watch Project Ramps as MPLX Eyes Significant Distribution Increase in 2027

While Visa, D.R. Horton, and MPLX offer a range of dividend yields, all three are clearly making strong efforts to return more capital to shareholders. Looking ahead, MPLX notes that asset sales could impact its ability to deliver another 12.5% increase in 2027, although it still expects a significant increase.

The size of the firm’s next increase could depend on how quickly its projects ramp to replace lost income from divestitures. The company expects to complete its Titan 2 natural gas project by the end of 2026, making execution on this timeline an item to watch next quarter.

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