2008 was the year that brought a ton of dividend cuts in the financial sector. Banks like Comerica, Bank of America, Citigroup, Regions Financial and First Third Bank cut dividends several times, which jeopardized the incomes of many retirees. 2009 so far brought a second round of dividend cuts from Bank of America and Comerica. Even pharmaceuticals giant Pfizer had to cut its dividend in half after announcing its acquisition of rival Wyeth. Investors are constantly bombarded with news about dividend cuts including the fact that 4Q 2008 was the worst quarter for dividends since S&P began compiling the data in 1956. One would think that a tough credit environment, bank failures, and news of big corporations laying off thousands of employees every day most companies would conserve cash in preparation for the second round of the financial Armageddon that pundits forecast. Not all companies are cutting dividends however. Stocks like Wells Fargo and General Electric have recently reaffirmed that they will maintain dividend payments. Even better, many companies are also raising payouts to shareholders.

Novartis (NVS) announced that its Board has approved a 25% increase in its annual dividend to 2.00 swiss franks or about $1.71. Novartis is an international dividend achiever, which has consistently increased its dividends since 1997. The stock currently yields 3.60%.

McGraw-Hill (MHP) announced that its Board has approved a 2.3% increase in its quarterly dividend from $0.22 to $0.225 per common share. The company also announced that in an effort to maintain liquidity, it would delay making any additional share repurchases in 2009.