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The S&P 500 Index gained over 1% last week, reaching its highest level since early March. Continued optimism about the economy's strength is helping drive many stocks higher, and several businesses added confidence to that story with announcements of higher dividends.
Four notable dividend stocks rewarded shareholders with dividend increases over the past week. This included an international tobacco giant, an office real estate investment trust (REIT), a major healthcare company and a business development company.
Here are four dividend stocks increasing payouts .
Notable Dividend Increases
Philip Morris International (NYSE: PM ) announced a 7% raise to its quarterly dividend, increasing it from $1.07 per share to $1.14. Shareholders of record as of June 22 will receive their higher dividends on July 11 from the international tobacco company. PM shares will be ex-dividend on June 21.
PM Dividend Yield: 5.43%
UnitedHealth Group (NYSE: UNH ) increased its quarterly dividend by 20%, raising its payment to 90 cents per share from 75 cents. Shareholders of record as of June 18 will receive their higher dividends on June 26 from the diversified healthcare company. UNH shares will be ex-dividend on June 15.
UNH Dividend Yield: 1.45%
Capital Southwest Corporation (NASDAQ: CSWC ) raised its quarterly dividend by 4%, increasing it from 28 cents per share to 29 cents. Shareholders of record as of June 26 will receive dividends from the business development company on July 2. The company's shares trade ex-dividend on June 25.
CSWC Dividend Yield: 6.32%
Alexandria Real Estate Equities (NYSE: ARE ) moved its quarterly dividend higher by 3%, increasing it from 90 cents per share to 93 cents. The office real estate investment trust will pay its higher dividend to shareholders of record as of June 29 on July 16. ARE shares trade ex-dividend on June 28.
ARE Dividend Yield: 2.85%
As of this writing, Brian Bollinger was long Philip Morris International.
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