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6 Confident and Secure Companies Boosting Dividends

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May 28, 2013 – Comments (0) | RELATED TICKERS: JPM , AWR , EXR

If income investing were as simple as picking the stock with the highest yield, everyone would be an expert. Most assume (rightfully so) that yield is heavily influenced by risk, but much more goes into determining yield. The industry the company operates in, legal considerations (REITs and MLPs), maturity and growth potential all have an effect on an individual stock's yield, along with the company's ability to grow its dividend.

Below are some companies that understand the importance of growing their cash dividends:

Extra Space Storage, Inc. (EXR) operates as a real estate investment trust (REIT) in the United States. May 22nd the company increased its quarterly dividend 60% to $0.40 per share. The dividend is payable on June 28, 2013 to stockholders of record at the close of business on June 14, 2013. The yield based on the new payout is 3.7%.

JPMorgan Chase & Co. (JPM), a financial holding company, provides various financial services worldwide. May 21st the company increased its quarterly dividend 2.6% to $0.38 per share. The dividend is payable July 31, 2013, to stockholders of record at the close of business on July 5, 2013. The yield based on the new payout is 2.8%.

Xcel Energy Inc. (XEL) engages in the generation, purchase, transmission, distribution, and sale of electricity in the United States. May 21st the company increased its quarterly dividend 3.7% to $0.28 per share. The dividend is payable July 20, 2013, to shareholders of record on June 20, 2013. The yield based on the new payout is 3.7%.

American States Water Company (AWR) provides water, electric, and contracted services in the United States. May 21sth the company increased its quarterly dividend 14.1% to $0.405 per share. The dividend is payable September 3, 2013 to shareholders of record at the close of business on August 15, 2013. The yield based on the new payout is 2.9%.

Umpqua Holdings Corporation (UMPQ) operates as the holding company for Umpqua Bank and Umpqua Investments, Inc. that provide commercial, and retail banking and brokerage services to corporate, institutional, and individual customers in the United States. May 20th the company increased its quarterly dividend 50% to $0.15 per share. The dividend is payable July 15, 2013 to shareholders of record as of June 28, 2013. The yield based on the new payout is 4.3%.

Orchids Paper Products Company (TIS) engages in the manufacture and sale of tissue products for the at-home market in the United States. May 16th the company increased its quarterly dividend 16.7% to $0.35 per share. The dividend is payable June 21, 2013 to stockholders of record at the close of business on June 7, 2013. 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: No position in the aforementioned securities. See a list of all my dividend growth holdings here.

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