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This Major Oil Producer Just Increased Its Dividend 40%
Posted by: Dividends4Life (IP Logged)
Date: July 30, 2012 10:06AM

Marathon Petroleum Corporation (MPC) engages in refining, transporting and marketing petroleum products primarily in the U.S. July 25, the company increased its quarterly dividend 40% to $0.35 per share. The dividend is payable Sept. 10, 2012 to shareholders of record as of the close of business Aug. 16, 2012. The yield based on the new payout is 3.1%.

Below are other companies increasing their cash dividends during the last week:

Intel Corporation (INTC) designs, manufactures, and sells integrated digital technology platforms primarily in the Asia-Pacific, the Americas, Europe and Japan. July 26, the company increased its quarterly dividend 7.1% to $0.225 per share. The dividend is payable Sept. 1, 2012 to stockholders of record on Aug. 7, 2012. The yield based on the new payout is 3.5%.

Cleco Corporation (CLN) operates as a utility holding company primarily in Louisiana. July 26, the company increased its quarterly dividend 8% to to $0.3375 per share. The dividend is payable Aug. 15, 2012, payment. The yield based on the new payout is 3.1%.

Exelon Corporation (EXC), a utility services holding company, engages in the generation of electricity in the United States. It generates electricity from nuclear, fossil, hydro and renewable energy sources. July 25, the company increased its quarterly dividend 38.5% to $0.525 per share. the dividend is payable Sept. 10, 2012, to shareholders of record of Exelon at 5:00 p.m. New York Time on Aug. 15, 2012. The yield based on the new payout is 5.4%.

National Penn Bancshares Inc. (NPBC) operates as the bank holding company for National Penn Bank that provides commercial banking products and services to residents and businesses primarily in eastern and central Pennsylvania. July 25, the company increased its quarterly dividend 28.6% to $0.09 per share. The dividend is payable Aug. 17, 2012 to shareholders of record as of Aug. 4, 2012. The yield based on the new payout is 4.0%.

ONEOK Inc. (OKE), a diversified energy company, engages in the gathering, processing, storage, and transportation of natural gas and natural gas liquids in the U.S. July 25, the company increased its quarterly dividend 8.2% to $0.33 per share. The dividend is payable Aug. 15, 2012, to shareholders of record at the close of business Aug. 6, 2012. The yield based on the new payout is 3.1%.

Newmont Mining Corporation (NEM) engages in the acquisition, exploration, and production of gold and copper properties. July 15, the company increased its quarterly dividend 17% to $0.35 per share of stock. The dividend is payable on Sept. 28, 2012, to holders of record at the close of business on Sept. 6, 2012. The yield based on the new payout is 3.0%.

Baxter International Inc. (BAX) develops, manufactures, and markets products for people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. July 25, the company increased its dividend 34% to $0.45 per share. The dividend is payable on Oct. 1, 2012 to shareholders of record as of the close of business on Sept. 7, 2012. The yield based on the new payout is 3.2%.

MHI Hospitality Corporation (MDH), a real estate investment trust (REIT), engages in the ownership and operation of upper upscale and midscale hotels in the mid-Atlantic and southeastern U.S. July 24, the company increased its quarterly dividend 50% to $0.03 per share. The quarterly dividend is payable on Oct. 11, 2012 to shareholders of record as of Sept. 14, 2012. The yield based on the new payout is 3.2%.

Simon Property Group Inc. (SPG) is an independent equity real estate investment trust engaged in investment, ownership, and management of properties around the world. July 24, the company increased its quarterly dividend 5% to $1.05 per share. The dividend is payable on Aug. 31, 2012 to stockholders of record on Aug. 17, 2012. The yield based on the new payout is 2.7%.

Bar Harbor Bankshares (BHB) operates as the holding company for Bar Harbor Bank & Trust that provides various banking products and services to individuals, businesses, not-for-profit organizations, and municipalities. July 24th the company increased its quarterly dividend 1.8% to $0.295 per share. The dividend is payable to shareholders of record as of the close of business Aug. 17, 2012 and will be paid on Sept. 14, 2012. The yield based on the new payout is 3.5%.

Crane Co. (CR) manufactures and sells engineered industrial products in the United States and internationally. July 23, the company increased its quarterly dividend 8% to $0.28 per share. The dividend is payable on Sept. 11, 2012 to shareholders of record as of the close of business on Aug. 31, 2012. The yield based on the new payout is 2.9%.

Williams Partners LP (WPZ), an energy infrastructure company, focuses on connecting North America’s hydrocarbon resource plays to growing markets for natural gas and natural gas liquids. July 23, the company increased its quarterly distribution 2% to $0.7925 per unit. The distribution is payable on Aug. 10, 2012, to unitholders of record at the close of business on August 3. The yield based on the new payout is 5.9%.

Rayonier Inc. (RYN) engages in the sale and development of real estate and timberland management, as well as in the production and sale of cellulose fibers in the U.S., New Zealand and Australia. July 23, the company increased its quarterly dividend 10% to to $0.44 per share. The dividend is payable Sept. 28, 2012, to shareholders of record on Sept. 14, 2012. The yield based on the new payout is 3.4%.

Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Full Disclosure: Long INTC. See a list of all my dividend growth holdings here.

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Stocks Discussed: MPC, INTC, EXC, NPBC, OKE, NEM, BAX, MDH, SPG, BHB, CR, WPZ, R,
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