This past week a few companies announced that they would be boosting their dividend payouts. Two of these companies are in the oil sector where energy companies are once again raking in the cash. Oil over $100 a barrel means record profits once again. The third company giving a dividend increase is a blue chip company with a long history of dividend growth. Investors seeking to generate income should look to these dividend stocks .
Exxon Mobil
Exxon Mobil (XOM) announced outstanding earnings this past week and is rewarding shareholders with a bigger dividend. Exxon is increasing its dividend 16 cents per share. That is an increase of 6.8% over the old dividend. The oil company will now pay shareholders $$1.88 per share versus the old payout of $1.72 per share. The yield is still only moderate but improving at 2.14%.
Chevron
Chevron (CVX) boosted its annual payout to $3.12 per share this past week. The 8.3% increase is a substantial increase over the $2.88 former dividend. Chevron is a very attractive dividend stock since it is now yielding 2.85%. The stock is trading right near its 52 week high of $109 a share.
Johnson & Johnson
One thing that investors can count on is a dividend increase from J&J every year. Make it 49 straight years of dividend increases for Johnson & Johnson (JNJ). The consumer goods giant has raised its dividend to $2.28 per share which is a 5.6% increase. Johnson & Johnson is a very attractive dividend stock with its nearly 3.5% yield.
Leggett & Platt
Leggett & Platt (LEG) is an outstanding dividend play. The company increased its guidance for the quarter and is a high yielder. Legget & Platt raised its annual dividend to $1.08 a share giving the stock an effective yield of 4.4%. The industrial materials and furnishings company has a strong balance sheet which makes significant dividend increases a likely scenario.
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