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17 Stocks Building Wealth Through Higher Dividends

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November 21, 2011 – Comments (0) | RELATED TICKERS: JCI , SYY , HD

Some traditionalist would say your home is your greatest wealth building asset. I would argue it is not. Others would say your income is your greatest wealth building asset. Thought there is a lot of truth to the statement, it is still not your greatest wealth building asset. So, what is your greatest wealth building asset? Everyone is born with it. Few realize its importance until they lose most of it. The asset is so priceless it can’t be bought. Your most valuable wealth building asset is time.

With time, you can wait for blue-chip stocks to build a high yield-on-cost by growing their dividends. Below are several companies building shareholder wealth by increasing their cash dividends:

MDU Resources Group, Inc. (MDU) operates as a diversified natural resource company in the United States. November 17th the company increased its quarterly dividend 3.1% to $0.1675 per share. The dividend is payable on Jan. 1, 2012, to stockholders of record Dec. 8, 2011. The yield based on the new payout is 3.3%.

C&F Financial Corporation (CFFI) operates as the holding company for Citizens and Farmers Bank that provides various banking and related financial services to individuals and businesses. November 17th the company increased its quarterly dividend 4% to $0.26 cents per share. The dividend is payable January 1, 2012 to shareholders of record on December 15, 2011. The yield based on the new payout is 4.9%.

Brown-Forman Corporation (BFA) engages in manufacturing, bottling, importing, exporting, and marketing alcoholic beverages. November 17th the company increased its quarterly dividend 9.4% to $0.35 per share. The yield based on the new payout is 1.9%.

NIKE, Inc. (NKE) engages in the design, development, marketing, and sale of footwear, apparel, equipment, and accessory products for men, women, and children worldwide. November 17th the company increased its quarterly dividend 16% to $0.36 per share. The dividend is payable on January 3, 2012 to shareholders of record at the close of business on December 5, 2011. The yield based on the new payout is 1.6%.

Union Pacific Corporation (UNP) provides rail transportation services in North America. November 17th the company increased its quarterly dividend 26% to $0.60 per share. The dividend is payable January 2, 2012, to stockholders of record on November 30, 2011. The yield based on the new payout is 2.4%.

FBL Financial Group, Inc. (FFG) sells individual life insurance and annuity products. November 16th the company increased its quarterly dividend 60% to $0.10 per share. The dividend is payable on December 30, 2011 to shareholders of record as of December 15, 2011. The yield based on the new payout is 1.3%.

PennantPark Investment Corporation (PNNT) is a publicly listed business development firm specializing in direct and mezzanine investments in middle market companies. November 16th the company declared a quarterly distribution of to $0.28 per share. The distribution is payable on January 3, 2012 to stockholders of record as of December 23, 2011. The yield based on the new payout is 10.6%.

Rockville Financial, Inc. (RCKB) operates as the holding company for Rockville Bank that provides a range of banking services to consumer and commercial customers. November 16th the company increased its dividend 15% to $0.075 per share. The dividend is payable on December 5, 2011 to shareholders on record as of the close of business on November 28, 2011. The yield based on the new payout is 2.8%.

New Jersey Resources Corporation (NJR) provides retail and wholesale energy services. November 16th the company increased its quarterly dividend 5.6% to $0.38 per share. The dividend is payable January 3, 2012 to shareowners of record on December 15, 2011. The yield based on the new payout is 3.2%.

Johnson Controls, Inc. (JCI) engages in building efficiency, automotive experience, and power solutions businesses worldwide. November 16th the company increased its quarterly dividend 13% to $0.18 per share. The dividend is payable January 3, 2012 to shareholders of record at the close of business on December 9, 2011. The yield based on the new payout is 2.3%.

Sysco Corporation (SYY) engages in the marketing and distribution of a range of food and related products primarily to the foodservice or food-away-from-home industry. November 16th the company increased its quarterly dividend 4% to $0.27 per share. The dividend is payable on January 27, 2012, to common shareholders of record at the close of business on January 6, 2012. The yield based on the new payout is 3.9%.

Pacific Continental Corporation (PCBK) operates as the bank holding company for Pacific Continental Bank that provides commercial banking services primarily in Oregon and Washington. November 16 the company increased its quarterly dividend 67% to $0.05 per share. The dividend is payable on December 15, 2011, to stockholders of record on December 5, 2011, with an ex-dividend date of December 1, 2011. The yield based on the new payout is 2.2%.

StanCorp Financial Group, Inc. (SFG) provides group insurance products and services in the United States. November 15th the company increased its annual dividend 3.5% to $0.89 per share. The dividend is payable December 9, 2011, to shareholders of record on November 28, 2011. The yield based on the new payout is 2.6%.

The Hanover Insurance Group, Inc. (THG) underwrites commercial and personal property, and casualty insurance coverage in the United States. November 15th the company increased its quarterly dividend to $0.30 per share. The dividend is payable December 13, 2011, to shareholders of record at the close of business on November 29, 2011. The yield based on the new payout is 3.2%.

The Home Depot Inc. (HD) operates as a home improvement retailer. November 15th the company increased its quarterly dividend 16% to $0.29 per share. The dividend is payable on December 15, 2011 , to shareholders of record on the close of business on December 1, 2011. 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. November 15th the company increased its quarterly dividend 8% to $0.335 per share. The dividend is payable on January 4, 2012 to shareholders of record as of the close of business on December 9, 2011. The yield based on the new payout is 2.4%.

LyondellBasell Industries N.V. (LYB) manufacturers and sells chemicals and polymers, refines crude oil, produces gasoline blending components, and develops and licenses technologies for production of polymers. November 14th the company increased its quarterly dividend 25% to $0.25 per share. The dividend is payable on on Dec. 16, 2011 to shareholders of record as of Nov. 25, 2011. The yield based on the new payout is 2.8%.

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 SYY. See a list of all my dividend growth holdings here.

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