December 15th, 2015

Dividend Investing News: Bank of America Hikes Payout by 400%, plus 25 More Increases By Diane Alter

Bank of America Corp. 's (NYSE: BAC) 400% quarterly dividend boost dominated dividend investing news last week. BofA announced Wednesday it will raise its quarterly dividend for the first time in seven years to $0.05 a share, up from $0.01, with its Sept. 26 distribution. The post Dividend Investing News: Bank of America Hikes Payout by 400%, plus 25 More Increases appeared first on Money Morning - Only the News You Can Profit From .
Dividend Investing News: BAC

Bank of America Corp.'s (NYSE: BAC) 400% quarterly dividend boost dominated dividend investing news last week.

The Charlotte, N.C.-based bank announced Wednesday it will raise its quarterly dividend for the first time in seven years. BAC will begin paying a quarterly dividend of $0.05 a share, up from $0.01, with its Sept. 26 distribution.

The increase gives BAC shares a yield of 1.32%, a handsome improvement over their prior yield of 0.3%. Raising BofA's dividend has been a top priority for Chief Executive Officer Brian Moynihan. Before the 2008 financial crisis, BofA paid a quarterly dividend as high as $0.64 per share.

But BAC's dividend is still well below that of industry rivals Wells Fargo & Co. (NYSE: WFC) and JP Morgan Chase & Co. (NYSE: JPM), which boast yields of 2.8% and 2.84% respectively.

Bank of America is among 52 companies that sweetened their dividend payouts last week. Here's a look at 25 notable hikes from the week ending Aug. 8.

25 More Dividend-Paying Stocks That Just Boosted Payouts

Aqua America Inc. (NYSE: WTR) upped its quarterly dividend 8.6% to $0.165 a share for a 2.74% yield. This enrichment marks the water company's 24th increase in 23 years.

Atlas Energy LP (NYSE: ATLS) increased its quarterly dividend $0.03 to $0.49 a share for a 4.67% yield.

Burger King Worldwide Inc. (NYSE: BKW) boosted its quarterly payout a penny to $0.08 a share for a 1.23% yield.

Carlisle Companies Inc. (NYSE: CSL) raised its quarterly dividend $0.03 to $0.25 a share for a 1.23% yield. The enhancement marks the 38th consecutive dividend boost from the diversified manufacturing company.

If you aren't a Money Morning Member, sign up now for free to see 21 more dividend stocks that raised payouts last week. You'll also get this dividend investing report with three superior picks to help grow your income: The Best Dividend Strategy for Building Fortune in a Low-Yield Era

Dover Corp. (NYSE: DOV) increased its quarterly dividend 6.7% to $0.40 a share for a 1.87% yield. This is the 59th consecutive year in which the energy equipment manufacturer has increased its annual cash dividend. With this increase, Dover has the fourth-longest record of consecutive annual dividend increases of all listed companies, according to Mergent's Dividend Achievers.

EOG Resources Inc. (NYSE: EOG) boosted its quarterly payout 34% to $0.1675 a share for a 0.62% yield.

Expedia Inc. (Nasdaq: EXPE) raised its quarterly dividend $0.03 to $0.18 a share for a yield approaching 1%.

Grupo Aeroportuario del Centro Nort (Nasdaq ADR: OMAB) goosed its quarterly disbursement 63.5% to $0.75 a share for a 7.33% yield.

Harman International Industries Inc. (NYSE: HAR) hiked its quarterly dividend $0.03 to $0.33 a share for a 1.22% yield.

Hawkins Inc. (Nasdaq: HWKN) boosted its quarterly dividend $0.02 to $0.38 a share for a 2.18% yield. This is the 29th consecutive year the chemical products company has paid cash distributions since first shelling out dividends in 1985.

International Flavor & Fragrances Inc. (NYSE: IFF) increased its quarterly dividend $0.08 to $0.47 a share for a 1.9% yield.

J2 Global Inc. (Nasdaq: JCOM) juiced its quarterly payout 2.8% to $0.27 a share for a 2.18% yield.

KLA-Tencor Corp. (Nasdaq: KLAC) raised its dividend a nickel to $0.50 a share for a 2.76% yield.

Leggett & Platt Inc. (NYSE: LEG) increased its quarterly payout a penny to $0.31 a share for a 3.7% yield. The manufacturer of energy components has been paying dividends for 43 consecutive years.

Manulife Financial Corp. (NYSE: MFC) moved its dividend up 19% to $0.14 a share for a 2.86% yield.

Mondelez International Inc. (Nasdaq: MDLZ) fattened its quarterly dividend a penny to $0.15 a share for a 1.7% yield.

Monsanto Co. (NYSE: MON) raised its quarterly payout $0.06 to $0.49 a share for a 1.7% yield. The agricultural company has increased its dividend five times since the end of fiscal year 2010, for a cumulative increase of almost 85% over that time span.

Murphy Oil Corp. (NYSE: MUR) upped its quarterly dividend 12% to $0.35 a share for a 2.28% yield.

Pinnacle Foods Inc. (NYSE: PF) increased its quarterly dividend 12% to $0.23 a share for a 3.06% yield. Earlier this year, PF was set to be bought by Hillshire Brands Co. (NYSE: HSH) until Tyson Foods Inc. (NYSE: TSN) swooped in and gobbled up Hillshire.

Ritchie Bros Auctioneers (NYSE: RBA) raised its quarterly dividend a penny to $0.14 a share for a 2.31% yield.

Sinclair Broadcast Group Inc. (Nasdaq: SBGI) boosted its quarterly dividend 10% to $0.16 a share for a 2.04% yield.

Spectra Energy Partners LP (NYSE: SEP) sweetened its quarterly payout 1.8% to $0.56 a share for a 4.21% yield.

Steris Corp. (NYSE: STE) raised its quarterly dividend $0.02 to $0.23 a share for a 1.89% yield.

Terra Nitrogen Co. LP (NYSE: TNH) hiked its quarterly dividend 3.3% to $3.11 a share for a 6.74% yield.

Walgreen Co. (NYSE: WAG) increased its quarterly distribution 7.1% to $0.33 a share for a 2.22% yield. The retail drug store chain was in the news last week for announcing it will not relocate overseas to take advantage of a lucrative and increasingly popular move called a tax inversion.

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