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8 Stocks Trying to be 'Good' by Raising Their Dividends

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October 14, 2013 – Comments (0) | RELATED TICKERS: UTX , RPM , HPT

Virtually everything in this world can be placed into a few basic categories. This is especially true for Dividend Stocks when looking at their historic performance and expectations for the future. Consider these three broad categories: The Good: As you might guess, these are the dividend stocks that are doing exactly what they should do – consistently raising their dividends each year in spite of troubled economic times. The Bad: Companies that held their dividends flat. The Ugly: Companies that cut their dividends.

Here are several companies in, or trying to join, the 'Good' category that recently rewarded their shareholders with increased cash distributions:

RPM International Inc. (RPM) manufactures, markets, and sells specialty chemical products for industrial and consumer markets in the United States and internationally. October 10th the company increased its quarterly dividend 6.7% to $0.24 per share. The dividend is payable October 31, 2013, to stockholders of record as of October 21, 2013. The yield based on the new payout is 2.6%.

Hospitality Properties Trust (HPT), a real estate investment trust (REIT), engages in buying, owning, and leasing hotels. October 10th the company increased its quarterly dividend 20% to $0.48 per share. The dividend is payable October 25, 2013 and distributed on or about November 22, 2013. The yield based on the new payout is 6.8%.

Questcor Pharmaceuticals, Inc. (QCOR), a biopharmaceutical company, provides drugs for the treatment of multiple sclerosis, nephrotic syndrome, and infantile spasms indications. October 10th the copmpany increased its quarterly dividend 20% to $0.30 per share. The dividend is payable October 30, 2013 to shareholders of record at the close of business on October 22, 2013. The yield based on the new payout is 2.0%.

United Technologies Corporation (UTX) provides technology products and services to the building systems and aerospace industries worldwide. October 9th the company increased its quarterly dividend 10% to $0.589 per share. The dividend is payable Dec. 10 to shareowners of record at the close of business Nov. 15. The ex-dividend date will be Nov. 13. The yield based on the new payout is 2.2%.

Genesis Energy, L.P. (GEL) operates in the midstream segment of the oil and gas industry in the Gulf Coast region of the United States. October 9th the company increased its quarterly distribution 10.6% to $0.5225 per unit. The distribution is payable November 14, 2013, to common unitholders of record at the close of business on November 1, 2013. The yield based on the new payout is 4.3%.

Select Income REIT (SIR) is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. SIR is headquartered in Newton, MA. October 9th the company increased its quarterly dividend 4.5% to $0.46 per share. The dividend is payable to holders of record of common shares as of the close of business on October 24, 2013, and will be distributed on or about November 20, 2013. The yield based on the new payout is 7.3%.

Gladstone Investment Corporation (GAIN) is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States. October 8th the company increased its quarterly dividend 20% to $0.06 per share. The dividend is payable on October 31, 2013, to stockholders of record on October 22, 2013, with an ex-dividend date of October 18, 2013. The yield based on the new payout is 10.6%.

Thoratec Corporation (THOR) engages in the development, manufacture, and marketing of proprietary medical devices used for circulatory support. October 4th the company increased its quarterly dividend 27.8% to $0.23 per share. The dividend is payable October 28, 2013, to stockholders of record on October 18, 2013, with an ex-dividend date of October 16, 2013. The yield based on the new payout is 2.4%.

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: No position in the aforementioned securities. See a list of all my dividend growth holdings here.

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