Dividend Increases

This page gives you a list of the publicly-traded companies, exchange traded funds (ETFs) and real estate investment trusts (REITs) that have announced an increase to the amount of their dividend payments. Learn more about why companies issue dividend increases.

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Country
Market Cap
Stock Type
Consensus Rating
CompanyAnnouncement DateAmountPrevious AmountIncrease AmountYieldEx-DatePayable Date
OGE Energy Corp. stock logo
OGE
OGE Energy
9/26/2023$0.4182$0.41401.01%4.94%10/27/2023
FirstEnergy Corp. stock logo
FE
FirstEnergy
9/26/2023$0.41$0.395.13%4.61%11/7/2023
Crescent Capital BDC, Inc. stock logo
CCAP
Crescent Capital BDC
9/26/2023$0.08$0.0560.00%1.94%9/28/202310/16/2023
WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund stock logo
AGZD
WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund
9/22/2023$0.07$0.06606.06%9/25/20239/28/2023
WisdomTree China ex-State-Owned Enterprises Fund stock logo
CXSE
WisdomTree China ex-State-Owned Enterprises Fund
9/22/2023$0.1050$0.0420150.00%1.42%9/25/20239/28/2023
U.S. Global Investors, Inc. stock logo
GROW
U.S. Global Investors
9/22/2023$0.0075$0.00707.14%3.1%11/10/202311/27/2023
Shoe Carnival, Inc. stock logo
SCVL
Shoe Carnival
9/21/2023$0.12$0.1020.00%2.07%10/2/202310/17/2023
RNDV
US Equity Dividend Select ETF
9/21/2023$0.1759$0.16307.91%9/22/20239/29/2023
RNLC
Large Cap US Equity Select ETF
9/21/2023$0.1127$0.072056.53%9/22/20239/29/2023
Grupo Aval Acciones y Valores S.A. stock logo
AVAL
Grupo Aval Acciones y Valores
9/21/2023$0.0184$0.014724.99%6.9%10/30/202311/8/2023
Texas Instruments Incorporated stock logo
TXN
Texas Instruments
9/21/2023$1.30$1.244.84%3.24%10/30/202311/14/2023
Equity Bancshares, Inc. stock logo
EQBK
Equity Bancshares
9/21/2023$0.12$0.1020.00%2.01%9/28/202310/16/2023
CI Financial Corp. stock logo
CIXXF
CI Financial
9/21/2023$0.1346$0.13192.06%4.24%9/28/202310/13/2023
ALPS Active REIT ETF stock logo
REIT
ALPS Active REIT ETF
9/20/2023$0.2281$0.195216.86%3.91%9/21/20239/26/2023
Starbucks Co. stock logo
SBUX
Starbucks
9/20/2023$0.57$0.537.55%2.4%11/9/202311/24/2023
American Tower Co. stock logo
AMT
American Tower
9/20/2023$1.62$1.573.18%3.65%10/10/202310/27/2023
Western Asset Investment Grade Income Fund Inc. stock logo
PAI
Western Asset Investment Grade Income Fund
9/20/2023$0.0475$0.04652.15%5.0%11/21/202312/1/2023
PNM Resources, Inc. stock logo
PNM
PNM Resources
9/19/2023$0.3680$0.36750.14%3.29%10/26/202311/10/2023
Vanguard Russell 1000 stock logo
VONE
Vanguard Russell 1000
9/19/2023$0.7550$0.68959.50%1.51%9/21/20239/26/2023
Vanguard Russell 1000 Value stock logo
VONV
Vanguard Russell 1000 Value
9/19/2023$0.3880$0.348411.37%2.25%9/21/20239/26/2023
Vanguard Russell 2000 Growth ETF stock logo
VTWG
Vanguard Russell 2000 Growth ETF
9/19/2023$0.3760$0.273037.73%0.91%9/21/20239/26/2023
Vanguard Russell 2000 ETF stock logo
VTWO
Vanguard Russell 2000 ETF
9/19/2023$0.32$0.234836.29%1.76%9/21/20239/26/2023
Vanguard Russell 2000 Value ETF stock logo
VTWV
Vanguard Russell 2000 Value ETF
9/19/2023$0.7940$0.515254.11%2.61%9/21/20239/26/2023
Grupo Aval Acciones y Valores S.A. stock logo
AVAL
Grupo Aval Acciones y Valores
9/19/2023$0.0147$0.01451.83%6.95%9/28/202310/10/2023
Sylvamo Co. stock logo
SLVM
Sylvamo
9/19/2023$0.30$0.2520.00%2.7%10/2/202310/17/2023
Argan, Inc. stock logo
AGX
Argan
9/19/2023$0.30$0.2520.00%2.2%10/20/202310/31/2023
Fortis Inc. stock logo
FTS
Fortis
9/19/2023$0.4370$0.42702.34%4.27%11/16/202312/1/2023
PermRock Royalty Trust stock logo
PRT
PermRock Royalty Trust
9/19/2023$0.0410$0.042.50%7.33%9/28/202310/16/2023
San Juan Basin Royalty Trust stock logo
SJT
San Juan Basin Royalty Trust
9/19/2023$0.0540$0.0210157.14%9.17%9/28/202310/16/2023
JPMorgan Chase & Co. stock logo
JPM
JPMorgan Chase & Co.
9/19/2023$1.05$1.005.00%2.82%10/5/202310/31/2023
Microsoft Co. stock logo
MSFT
Microsoft
9/19/2023$0.75$0.6810.29%0.92%11/15/202312/14/2023
Keurig Dr Pepper Inc. stock logo
KDP
Keurig Dr Pepper
9/19/2023$0.2150$0.207.50%2.56%9/28/202310/13/2023
Keurig Dr Pepper Inc. stock logo
KDP
Keurig Dr Pepper
9/19/2023$0.2150$0.207.50%2.56%9/28/202310/13/2023
Investcorp Credit Management BDC, Inc. stock logo
ICMB
Investcorp Credit Management BDC
9/18/2023$0.15$0.1315.38%15.38%10/11/202311/2/2023
Main Street Capital Co. stock logo
MAIN
Main Street Capital
9/18/2023$0.2750$0.2319.57%8.47%9/19/20239/27/2023
Horizon Technology Finance Co. stock logo
HRZN
Horizon Technology Finance
9/18/2023$0.11$0.1010.00%10.86%9/18/202310/16/2023
Grupo Financiero Galicia S.A. stock logo
GGAL
Grupo Financiero Galicia
9/15/2023$0.1220$0.12100.80%6.87%9/22/202310/2/2023
Ready Capital Co. stock logo
RC
Ready Capital
9/15/2023$0.36$0.14157.14%13.14%9/28/202310/31/2023
Invesco High Yield Equity Dividend Achievers ETF stock logo
PEY
Invesco High Yield Equity Dividend Achievers ETF
9/15/2023$0.0770$0.049057.16%9/18/20239/22/2023
BSJU
Invesco BulletShares 2030 High Yield Corporate Bond ETF
9/15/2023$0.1470$0.14690.03%9/18/20239/22/2023
Invesco BulletShares 2028 Corporate Bond ETF stock logo
BSCS
Invesco BulletShares 2028 Corporate Bond ETF
9/15/2023$0.0662$0.01562.20%9/18/20239/22/2023
BSJR
Invesco BulletShares 2027 High Yield Corporate Bond ETF
9/15/2023$0.1186$0.1018.55%9/18/20239/22/2023
Invesco BulletShares 2027 Corporate Bond ETF stock logo
BSCR
Invesco BulletShares 2027 Corporate Bond ETF
9/15/2023$0.0616$0.01515.50%9/18/20239/22/2023
Invesco BulletShares 2025 Corporate Bond ETF stock logo
BSCP
Invesco BulletShares 2025 Corporate Bond ETF
9/15/2023$0.0584$0.0445.95%9/18/20239/22/2023
Invesco BulletShares 2024 Corporate Bond ETF stock logo
BSCO
Invesco BulletShares 2024 Corporate Bond ETF
9/15/2023$0.0483$0.0420.75%9/18/20239/22/2023
Invesco BulletShares 2023 Corporate Bond ETF stock logo
BSCN
Invesco BulletShares 2023 Corporate Bond ETF
9/15/2023$0.0772$0.0628.67%9/18/20239/22/2023
Lument Finance Trust, Inc. stock logo
LFT
Lument Finance Trust
9/14/2023$0.07$0.0616.67%12.44%9/28/202310/16/2023
Host Hotels & Resorts, Inc. stock logo
HST
Host Hotels & Resorts
9/14/2023$0.18$0.1520.00%4.43%9/28/202310/16/2023
Host Hotels & Resorts, Inc. stock logo
HST
Host Hotels & Resorts
9/14/2023$0.18$0.1520.00%4.43%9/28/202310/16/2023
W. P. Carey Inc. stock logo
WPC
W. P. Carey
9/14/2023$1.0710$1.06900.19%6.71%9/28/202310/16/2023
Logitech International S.A. stock logo
LOGI
Logitech International
9/13/2023$1.1876$0.978221.41%1.4%9/25/20239/27/2023
InterDigital, Inc. stock logo
IDCC
InterDigital
9/13/2023$0.40$0.3514.29%1.93%10/10/202310/25/2023
Trinity Capital Inc. stock logo
TRIN
Trinity Capital
9/13/2023$0.54$0.531.89%14.66%9/28/202310/13/2023
Philip Morris International Inc. stock logo
PM
Philip Morris International
9/13/2023$1.30$1.272.36%5.51%9/26/202310/12/2023
Realty Income Co. stock logo
O
Realty Income
9/12/2023$0.2560$0.25550.20%5.6%9/29/202310/13/2023
ArrowMark Financial Corp. stock logo
BANX
ArrowMark Financial
9/11/2023$0.45$0.3915.38%10.35%9/21/20239/29/2023
Everest Group, Ltd. stock logo
EG
Everest Group
9/11/2023$1.75$1.656.06%1.9%9/18/20239/29/2023
Fifth Third Bancorp stock logo
FITB
Fifth Third Bancorp
9/11/2023$0.35$0.336.06%5.28%9/28/202310/16/2023
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. stock logo
OMAB
Grupo Aeroportuario del Centro Norte
9/7/2023$2.1446$2.12620.86%4.1%9/18/20239/27/2023
VICI Properties Inc. stock logo
VICI
VICI Properties
9/7/2023$0.4150$0.396.41%5.3%9/20/202310/5/2023
Tsakos Energy Navigation Limited stock logo
TNP
Tsakos Energy Navigation
9/7/2023$0.70$0.30133.33%3.0%10/19/202310/26/2023
Verizon Communications Inc. stock logo
VZ
Verizon Communications
9/7/2023$0.6650$0.65251.92%7.71%10/6/202311/1/2023
Trinity Industries, Inc. stock logo
TRN
Trinity Industries
9/6/2023$0.26$0.012,500.00%4.36%10/12/202310/31/2023
Sprott Focus Trust, Inc. stock logo
FUND
Sprott Focus Trust
9/5/2023$0.1238$0.12171.73%6.2%9/14/20239/29/2023
Phillips Edison & Company, Inc. stock logo
PECO
Phillips Edison & Company, Inc.
9/5/2023$0.0975$0.09700.52%3.2%10/13/202311/1/2023
UCRD
VictoryShares Corporate Bond ETF
9/5/2023$0.0743$0.059125.69%9/6/20239/8/2023
Phillips Edison & Company, Inc. stock logo
PECO
Phillips Edison & Company, Inc.
9/5/2023$0.0970$0.09304.30%3.39%9/14/202310/2/2023
Sabine Royalty Trust stock logo
SBR
Sabine Royalty Trust
9/5/2023$0.3640$0.299021.74%6.7%9/14/20239/29/2023
Brady Co. stock logo
BRC
Brady
9/4/2023$0.2350$0.232.17%1.69%10/6/202310/31/2023
Invesco Bond Fund stock logo
VBF
Invesco Bond Fund
9/1/2023$0.0660$0.06353.94%5.4%9/14/20239/29/2023
Stewart Information Services Co. stock logo
STC
Stewart Information Services
9/1/2023$0.4750$0.455.56%4.1%9/14/20239/29/2023
John Hancock Financial Opportunities Fund stock logo
BTO
John Hancock Financial Opportunities Fund
9/1/2023$0.65$0.3775.68%9.47%9/8/20239/29/2023
Harmony Gold Mining Company Limited stock logo
HMY
Harmony Gold Mining
8/31/2023$0.0320$0.01220.00%0.8%10/12/202310/23/2023
Western Asset Total Return ETF stock logo
WBND
Western Asset Total Return ETF
8/31/2023$0.0943$0.065543.95%9/1/20239/7/2023
Western Asset Short Duration Income ETF stock logo
WINC
Western Asset Short Duration Income ETF
8/31/2023$0.0950$0.079619.42%9/1/20239/7/2023
JPMorgan Nasdaq Equity Premium Income ETF stock logo
JEPQ
JPMorgan Nasdaq Equity Premium Income ETF
8/31/2023$0.4506$0.365923.14%9/1/20239/7/2023
USBF
iShares USD Bond Factor ETF
8/31/2023$0.3097$0.29754.08%9/1/20239/8/2023
USFI
BrandywineGLOBAL - U.S. Fixed Income ETF
8/31/2023$0.0902$0.0091892.75%9/1/20239/8/2023
Canadian Imperial Bank of Commerce stock logo
CM
Canadian Imperial Bank of Commerce
8/31/2023$0.6570$0.64202.34%6.64%9/27/202310/27/2023
Vanguard Total World Bond ETF stock logo
BNDW
Vanguard Total World Bond ETF
8/30/2023$0.1495$0.14721.56%9/1/20239/7/2023
Vanguard Total Corporate Bond Fund stock logo
VTC
Vanguard Total Corporate Bond Fund
8/30/2023$0.2499$0.24691.22%9/1/20239/7/2023
Vanguard Total Bond Market ETF stock logo
BND
Vanguard Total Bond Market ETF
8/30/2023$0.1957$0.19271.60%9/1/20239/7/2023
Vanguard Short-Term Treasury Index ETF stock logo
VGSH
Vanguard Short-Term Treasury Index ETF
8/30/2023$0.1740$0.17091.81%9/1/20239/7/2023
Vanguard Short-Term Corporate Bond ETF stock logo
VCSH
Vanguard Short-Term Corporate Bond ETF
8/30/2023$0.2095$0.19835.65%9/1/20239/7/2023
Vanguard Mortgage-Backed Securities ETF stock logo
VMBS
Vanguard Mortgage-Backed Securities ETF
8/30/2023$0.13$0.12553.59%3.47%9/1/20239/7/2023
Vanguard Long-Term Treasury Index ETF stock logo
VGLT
Vanguard Long-Term Treasury Index ETF
8/30/2023$0.1813$0.16688.69%9/1/20239/7/2023
Vanguard Intermediate-Term Treasury Index ETF stock logo
VGIT
Vanguard Intermediate-Term Treasury Index ETF
8/30/2023$0.1353$0.12766.03%9/1/20239/7/2023
Gaming and Leisure Properties, Inc. stock logo
GLPI
Gaming and Leisure Properties
8/30/2023$0.73$0.721.39%6.2%9/14/20239/29/2023
VersaBank stock logo
VBNK
VersaBank
8/30/2023$0.0190$0.01805.56%0.91%10/5/202310/31/2023
Deere & Company stock logo
DE
Deere & Company
8/30/2023$1.35$1.258.00%1.3%9/28/202311/8/2023
Avnet, Inc. stock logo
AVT
Avnet
8/29/2023$0.31$0.296.90%2.45%9/12/20239/27/2023
Avnet, Inc. stock logo
AVT
Avnet
8/29/2023$0.31$0.296.90%2.45%9/12/20239/27/2023
Epsilon Energy Ltd. stock logo
EPSN
Epsilon Energy
8/29/2023$0.0630$0.06250.80%4.79%9/14/20239/29/2023
Bank of Montreal stock logo
BMO
Bank of Montreal
8/29/2023$1.11$1.08502.30%5.18%10/27/202311/28/2023
Greif, Inc. stock logo
GEF
Greif
8/29/2023$0.52$0.504.00%2.81%9/14/202310/1/2023
EastGroup Properties, Inc. stock logo
EGP
EastGroup Properties
8/25/2023$1.27$1.251.60%2.83%9/28/202310/13/2023
Old Republic International Co. stock logo
ORI
Old Republic International
8/25/2023$0.2450$0.24400.41%3.59%9/1/20239/15/2023
Macy's, Inc. stock logo
M
Macy's
8/25/2023$0.1654$0.16500.24%5.48%9/14/202310/2/2023
Summit Financial Group, Inc. stock logo
SMMF
Summit Financial Group
8/24/2023$0.22$0.2010.00%3.54%9/14/20239/29/2023
BancFirst Co. stock logo
BANF
BancFirst
8/24/2023$0.43$0.407.50%1.8%9/28/202310/16/2023

It’s been said that a dividend is a way for investors to collect rent on the equities they own. So when the dividend per share rises, investors benefit with increased income. And if investors reinvest their dividends through a dividend reinvestment plan, they benefit from the compounding effect.

Since a dividend is a payout given to shareholders out of a company’s profits, an increase to the dividend shows that the company is confident that it will continue to grow earnings and puts a high value on increasing shareholder equity. However, it can also mean that the company’s business model is changing and they are choosing to return a higher percentage of their dividends into increasing shareholder equity rather than investing in growth.

In this article, we’ll review what a dividend increase can mean and why it’s important for investors to know the difference between a dividend yield and the dividend payout.

When a company increases its dividend, they do so, primarily, for one of two reasons:

  • Net profits increased – This generally suggests strong revenue performance and increasing free cash flow (FCF). This gives the company the flexibility to reward shareholders with a higher dividend. This is the best kind of dividend increase.
  • Less viable options - Sometimes a company has grown to the point where spending on growth and expansion is not a viable option. In this case, they may choose to payout a larger share of their profits in the form of a dividend. This option will require more exploration.

When a company chooses to pay out less of its profits on growth and expansion, it could be as simple as that the company is in a regulated industry where they have limited pricing power. Utility companies are a good example of this. Another reason a company may opt to pay a higher dividend is that interest rates are rising. This increases borrowing costs and may make it impractical to fund capital expenditures.

There can be more concerning reasons that a company chooses not to reinvest in growth and expansion. One of these is that, depending on their size, their ability to grow may be limited. Another reason that can raise concerns is when a company increases its dividend payout as a way of attracting a larger equity investment.

Many investors get seduced by a company’s dividend yield. This is the dollar amount of a company’s current dividend per share on an annual basis divided by its current stock price. For example, if Walmart (NYSE:WMT) has a share price of $119.38 and an annual dividend per share of $2.24 its dividend yield would calculate to 1.88%. Because this number is based on current numbers, a dividend yield moves up and down frequently. This makes it a less reliable indicator of a dividend’s strength.

Dividend payout is the dollar amount per share that a company will pay shareholders on the payment date. Seeing this number remain stable or better yet increase should give investors more confidence that the company is on strong financial footing.

The dividend payout lets you calculate a company’s payout ratio. The formula for calculating the company’s payout ratio is dividends paid divided by net income.

Company’s normally calculate several different payout ratios. Some of the most common include:

  • Payout ratio based on trailing 12 months (TTM) of earnings
  • Payout ratio based on the current year’s earnings estimates
  • Payout ratio based on next year’s earnings estimates
  • Payout ratio based on cash flow

Interpreting a company’s payout ratio will depend on several factors including the company and sector maturity. For example, investors would expect a company such as Walmart to have a higher payout ratio than Apple (NASDAQ:AAPL). Also, dividends can be industry specific. For example, a real estate investment trust (REIT) is required to pay out a significant portion of its earnings (usually more than 90%) as a dividend. However, even with that high payout ratio, investors may find other dividend stocks that are a better fit for their portfolio.

In most cases, a company is very reluctant to cut its dividend once it starts to issue one. A dividend cut usually results in a company’s stock price dropping and can cast doubt on a company’s management. Also, understanding what a company’s payout ratio means helps investors determine the sustainability of the dividend.

Find out why slow and steady wins the race with DividendStocks.com.