The bullish momentum we've seen in stocks of late took a bit of breather last
week. But on the dividend front, there was no shortage of companies making moves
to increase their payouts. Several widely held, mega-cap firms sweetened their
dividend pots last week, and leading the charge was consumer products giant
Procter & Gamble (NYSE: PG ), Fastenal (NASDAQ: FAST ), Dow Chemical (NYSE: DOW
) and aerospace and defense firm United Technologies (NYSE: UTX ). 11 high yield
dividend stocks in total boosted their payouts. Here they are: Procter & Gamble
(NYSE: PG ): After Monday's closing bell, the maker of such ubiquitous
household products such as Ivory soap, Crest toothpaste and Charmin toilet paper
announced that its board of directors has approved a 9% increase in its
quarterly dividend payout. The new PG dividend of 52.5 cents per share will be
payable on May 16 to shareholders of record as of April 29. The increase marks
the 55th consecutive year Procter and Gamble has raised its dividend payout. P&G
upped the dividend along with announcing Q2 earnings, which came in above Wall
Street forecasts. However, the company's net sales saw only a marginal advance
of 1.5% over the same period a year ago, which was slightly below what the
Street was anticipating. United Technologies (NYSE: UTX ): The diversified
industrial and aerospace firm United Technologies dividend took flight last
week, as the maker of Otis brand elevator services lifted its quarterly payout
12.9% to 48 cents per share. The boosted dividend will be paid on June 10 to
shareholders of record as of May 20. Typically, the world's largest maker of
elevators and air conditioners typically raises its payout every five quarters.
Even though UT shares its capital with stockholders, they also have a lot of
cash on hand. According to the company's CEO Louis Chenevert, UT has about
$1.5 billion budgeted for takeovers this year. Dow Chemical (NYSE: DOW ). The
chemical, electronics and agricultural company upped its dividend to 25 cents
per share from 15 cents. The 67% increased payout will be made on July 29 to
shareholders of record on June 30. According to CEO Andrew N. Liveris, the
company's "enhanced financial flexibility and robust portfolio of
businesses" position it to deliver sustainable growth. The company also
boasted that its current dividend marked the 399th consecutive cash dividend
paid to shareholders since 1912. Duncan Energy Partners L.P. (NYSE: DEP ). The
natural gas producer and pipeline operator fueled up its quarterly payout to
shareholders, increasing its quarterly cash distribution by 2.2% to 45.75 cents
per common unit. The Houston, TX-based firm said the new distribution would be
paid on May 6 to unit holders of record on April 29. Enterprise Products
Partners L.P. (NYSE: EPD ). Not to be outdone by rival Duncan, this natural gas
company also pumped up its payout last week. Enterprise Products Partners said
that its board of directors of its general partner declared an increase in the
quarterly cash distribution rate paid to partners to 59.75 cents per common
unit. The new quarterly distribution will be paid on May 6, to unit holders of
record as of the close of business on April 29. This increase represents the 36
th distribution increase since EPD's initial public offering in 1998. Genesis
Energy L.P. (NYSE: GEL ). The oil and gas pipeline and refining firm poured out
more cash to its shareholders while also announcing it will expand its crude oil
pipeline and terminaling capabilities in Texas. The company will pay a regular
quarterly distribution of 40.75 per share for the quarter ended March 31, or
about 11% higher than the previous year's payout. The new, higher distribution
will be paid on May 13 to unit holders of record on May 3. Separately, Genesis
said it acquired three above-ground storage tanks in Texas City, with an
aggregate capacity of about 230,000 barrels. Targa Resources Partners L.P.
(NYSE: NGLS ). This natural gas producer also raised its quarterly its dividend
last week, declaring a new cash payout of 27.25 cents per common share, or $1.09
per common share on an annualized basis. The new dividend represents about a 6%
increase over the annualized rate paid last year. Plains All American Pipeline
L.P. (NYSE: PAA ). Yet another natural gas firm increasing its largess to
shareholders, as PAA announced it has raised its quarterly cash distribution to
97 cents per unit on all of its outstanding limited partner units. The
distribution will be payable on May 13 to unit holders of record as of May 3.
This new distribution represents an increase of approximately 3.7% over the same
quarter a year ago. The increase is the 26 th quarter of raised payouts in the
28-quarter history of the natural gas trust. Along with the dividend increase,
PAA also said that it expects to deliver earnings that will exceed the high end
of its public guidance for the first quarter of 2011. H.B. Fuller Co. (NYSE: FUL
). The specialty chemical maker gave a fresh coat of paint to its quarterly
payout, as the company's board voted to increase its regular quarterly
dividend 7%. The company, best known for its paint and sealant products, said it
was raising the dividend to 7.5 cents per share from 7 cents per share. The new
dividend is payable on May 12 to shareholders of record on April 28. Omega
HealthCare Investors Inc. (NYSE: OHI ). This real estate investment trust
operates healthcare facilities across the country, and last week it announced a
healthy raise in its quarterly payout. The company's board declared a common
stock dividend of 38 cents per share, increasing its dividend by a penny per
share. The new payout will be maid on May 16 to shareholders of record on April
29. Fastenal (NASDAQ: FAST ). The industrial and construction supply seller
built up its quarterly dividend last week, raising its payout to 26 cents a
share. The new divided will begin on April 28, and will be made to shareholders
of record as of April 12. Fastenal made its announcement alongside a 42% gain in
Q1 profit, and a 23% surge in quarterly revenues. Net income rose to $79.5
million, or 54 cents per share, for the three months ended March 31. Analysts
were expecting net income of just 51 cents per share. At the time of
publication, Jim Woods held no positions in any of the stocks mentioned in this
article.
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