Dividend stocks are sometimes referred to as defensive stocks since many investors flee to them in an economic downturn. Their dividends, if sustainable, provide a minimum level of positive return. This cushions the downward pressure from the market. Better yet, great dividend companies not only sustain their dividends in a downturn – they actually raise them.
Below are several stocks displaying confidence in the future by increasing their cash dividends:
Stanley Black & Decker (NYSE: SWK) is a diversified global provider of hand tools, power tools and related accessories and systems. The company is a result of the the March 2010 merger of StanleyWorks and Black & Decker. July 16th the company increased its quarterly dividend 3% to $0.34/share. The dividend is payable on Sept. 21 to shareholders of record on Sept. 3. The ex-dividend date is September 1. SWK is a Dividend Aristocrat and has raised its dividend for 43 consecutive years. The yield based on the new payout is 2.58%.
Ryder System (NYSE: R) provides truck leasing and rental, logistics and supply chain management solutions. July 16th the company raised its quarterly dividend to $0.27/share. The dividend is payable on September 17, 2010, to shareholders of record on August 23, 2010. The yield based on the new payout is 2.60%.
Digital Realty Trust (NYSE: DLR) is a REIT specializing in the ownership, acquisition, development, redevelopment, and management of technology-related properties. July 20th the company raised its quarterly dividend 10% to $0.53/share. The dividend is payable on September 30, 2010, to common stockholders of record as of the close of business on September 15, 2010, with an ex-dividend date of September 13, 2010. The yield based on the new payout is 3.44%.
Lindsay Corp. (NYSE: LNN) designs, makes and markets center pivot and lateral move irrigation systems. It also produces crash cushions, specialty barriers and diameter tubing, and offers outsource manufacturing. July 20th the company raised its quarterly dividend 6% to $0.085/share. The dividend is payable August 31, 2010, to shareholders of record on August 17, 2010. The ex-dividend date is August 13, 2010. The yield based on the new payout is 1.02%.
Western Gas Partners (NYSE: WES) engages in the business of gathering, compressing, treating and transporting natural gas for its ultimate parent, Anadarko Petroleum Corp., and others. July 20th the partnership increased its quarterly distribution 3% to $0.35/unit.