Supported by positive M&A activity as well as China's decision to maintain its current interest rate, stocks ended with narrowed gains as Monday turned to be a mixed day for technology and retailer stocks.
Dow Jones Industrial Average gained 58.54 points or 0.51 percent to 11,468.86, and NASDAQ composite index was up 0.80 points or 0.03 percent to 2,638.44. The Standard & Poor 500 index increased 5.27 points or 0.42 percent to 1,245.60.
In an attempt to exhibit their financial strength, many companies declared their quarterly dividends on Monday.
Walt Disney Company (NYSE: DIS) gained 1.91 percent to $37.35, after it declared a 14.3 percent increase in its dividend for Q4 2010.
Shares of Dynex Capital Inc (NYSE: DX) gained 0.56 percent to $10.76 in the midday trading. The company has increased its quarterly dividend to $0.27 per share for Q4 2010.
Shares of BCE Inc (NYSE: BCE) grew 0.46 percent to $35.44 after the company announced a 7.7 percent hike in its dividend to $1.97 per share for 2011. The dividend is payable on April 15, 2011.
Honeywell International Inc Co (NYSE: HON) has declared a 10 percent hike in its Q1 dividend to $1.33 per share from $1.21 per share. Shares of the company gained 0.10 percent to $52.02.
Weyerhaeuser Company (NYSE: WY) has decided to pay a quarterly dividend of 15 cents per share, payable on March 2011. Shares of the company were trading at $17.82, up 0.34 percent in the final hour of trading.
Waddell & Reed Financial Inc (NYSE: WDR) has declared a 5.3 percent increase in its quarterly dividend to 20 cents per share. The news failed to enhance the company's share performance, as it slipped 0.69 percent to $34.30.
Shares of Titan International Inc (NYSE: TWI) fell 2.21 percent to $18.14. The company has declared a cash dividend of one-half cent per common share for Q4 2010, payable on January 14, 2011. Innophos Holdings Inc (NasdaqGM: IPHS) slipped 0.90 percent to $35.07. The company had declared a fourth quarter dividend of $0.17 per share of common stock, payable on January 31, 2011.