Here are several big-name companies that have recently increased their cash dividends by double digits:
Chevron Corporation (CVX) engages in petroleum, chemicals, mining, power generation and energy operations worldwide. The company operates in two segments, Upstream and Downstream. April 24, the company increased its quarterly dividend 11.1% to $1.00 per share. The dividend is payable June 10, 2013, to holders of common stock as shown on the transfer records of the corporation at the close of business on May 17, 2013. The yield based on the new payout is 3.4%.
Exxon Mobil Corporation (XOM) engages in the exploration and production of crude oil and natural gas, and manufacture of petroleum products. April 24, the company increased its quarterly dividend 10.5% to $0.63 per share. The dividend is payable June 10, 2013 to shareholders of record at the close of business on May 13, 2013. The yield based on the new payout is 2.8%.
Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets mobile communication and media devices, personal computing products and portable digital music players worldwide. April 23, the company increased its quarterly dividend 15% to $3.05 per common share. The dividend is payable on May 16, 2013, to shareholders of record as of the close of business on May 13, 2013. The yield based on the new payout is 3.0%.
Wells Fargo & Company (WFC) provides retail, commercial, and corporate banking services. April 23, the company increased its quarterly dividend 20% to $0.30 per share. The dividend is payable June 1, 2013, to stockholders of record on May 10, 2013. The yield based on the new payout is 3.2%.
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 CVX in my Dividend Growth Portfolio. See a list of all my dividend growth holdings here.
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