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3 Stocks Yielding More than 5% That Recently Raised their Dividends

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October 22, 2012 – Comments (1) | RELATED TICKERS: KMP , OHI , CLMT

Astute investors understand the power of growing dividends. Over time, a low yielding stock will increase its payout (along with its yield-on-cost) and normally the share price follows the growing dividend. But what if you need income today? High-yield investments sometimes sacrifice growth, but not always...

Below are three investments yielding more than 5% that recently increased their cash dividends:

Kinder Morgan Energy Partners, L.P. (KMP) operates as a pipeline transportation and energy storage company in North America. October 18th the company increased its quarterly distribution 2.4% to $1.26 per share. The distribution is payable November 15 to shareholders of record as of October 31. The yield based on the new payout is 5.9%.

Omega Healthcare Investors, Inc. (OHI) operates as a real estate investment trust (REIT) in the United States. October 17th the company increased its quarterly dividend 4.8% to $0.44 per share. The dividend is payable November 15, 2012 to common stockholders of record as of the close of business on October 31, 2012. The yield based on the new payout is 7.5%.

Calumet Specialty Products Partners, L.P. (CLMT) produces and sells specialty hydrocarbon products in North America. October 16th the company increased its quarterly dividend 5.1% to $0.62 per unit. the distribution is payable November 14, 2012 to holders of record of such units at the close of business on November 2, 2012. The yield based on the new payout is 8.1%.

Below are several other companies that have recently increased their cash dividends to shareholders:

A. Schulman, Inc. (SHLM) supplies plastic compounds and resins for packaging, consumer products, industrial, and automotive applications. October 18th the company increased its quarterly dividend 2.6% to $0.195 per share. The dividend is payable November 1, 2012, to shareholders of record on October 19, 2012. The yield based on the new payout is 3.2%.

Pacific Continental Corporation (PCBK) operates as the bank holding company for Pacific Continental Bank that provides commercial banking services in Oregon and Washington. October 17th the company increased its quarterly dividend 16.7% to %0.07 per share. Additionally, the board declared a special cash dividend of $0.04 per share. Both dividends are payable November 13, 2012, to shareholders of record on October 31, 2012. The yield based on the new payout is 3.1%.

Susquehanna Bancshares, Inc. (SUSQ) provides retail and commercial banking, and financial services in the mid-Atlantic region. October 17th the company increased its quarterly dividend 16.7% to %0.07 per share. The dividend is payable November 20, 2012 to shareholders of record October 30, 2012. The yield based on the new payout is 2.7%.

MVC (MVC) is a business development company that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. October 169th the company increased its quarterly 12.5% to $0.135 per share. The dividend is payable October 31, 2012 to shareholders of record on October 25, 2012. The yield based on the new payout is 4.3%.

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 OHI in my High-Yield Portfolio. See a list of all my dividend growth holdings here.

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1 Comments – Post Your Own

#1) On October 22, 2012 at 8:49 PM, Lulupoopsalot (88.96) wrote:

Not really a fan of OHI with its 175% payout ratio.  I'd be very careful with this one.  How sustainable can that really be over time?  Especially when it's only showing $0.03 cash per share.  Just my opinion.

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