While it's nice to receive a dividend, it's even better to see
a bigger dividend check from time to time.
A number of stocks in Tuesday's Dividend Leaders screen have
dividend growth rates in the double digits.
The dividend growth rate is computed using a trend analysis
over three to five years of cash dividends per share on a
trailing 12-month basis.
Cigarette makerLorillard (
) offers the biggest dividend growth rate on the list, 24%.
The company most recently hiked its dividend by 12% to 61.5
cents a share in February. Its quarterly dividend has doubled
since the firm separated from parentLoews (
) to become an independent, publicly traded company in 2008.
Lorillard pays $2.46 a share on an annual basis, which works
out to an annualized yield of about 4%.
) has a dividend growth rate of 24%. In March, the defense
contractor announced a 10% hike to its annual dividend, leaving
it at $2.42 a share. Raytheon has raised its dividend for 10
straight years. It has an annualized yield around 2.6%.
RivalLockheed Martin (
) has a slightly lower dividend growth rate of 21%. But it offers
a higher yield of 3.3%. The company most recently announced a
dividend hike in September, raising the quarterly amount to $1.33
a share from $1.15. It has boosted its quarterly dividend by
double digits for 11 straight years.
), the sole technology company in Tuesday's screen, has a
dividend growth rate of 19%. It pays 28 cents a share quarterly
for an annualized yield of around 2.7%.
The software giant announced a dividend increase in June.
Microsoft's quarterly shareholder dividend has more than doubled
Microsoft first started issuing dividends back in 2003.