Apple, IBM, and 14 More Companies That Raised Their Stock Dividends

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IBM plans to raise its dividend.


Migel Medina/AFP via Getty Images

Apple
,
International Business Machines, and

Discover Financial Services

were among the large U.S. companies that announced dividend increases this week. It was a busy stretch for these announcements as first-quarter earnings season continues.

Tech giant Apple (ticker:AAPL) declared a quarterly dividend of 23 cents a share, up by a penny, or 4.5%. The stock, which yields 0.5%, has returned about minus 8% this year through April 28, dividends included, compared with nearly minus 10% for the


S&P 500.

International Business Machines

(

IBM

) said it will raise its quarterly disbursement to $1.65 cents a share from $1.64. The company is a member of the S&P 500 Dividend Aristocrats Index, whose constituents have paid out a higher dividend for at least 25 straight years.

The stock, which has returned about 3% this year, yields 4.9%.

Discover Financial Services (DFS) declared a quarterly dividend of 60 cents a share, up 20% from 50 cents. The stock, which yields 2.1%, has returned about 1% year to date.

Insurance company

MetLife

(MET) said it will hike its quarterly payout to 50 cents a share from 48 cents, an increase of about 4%. The stock, which has returned about 9% this year, yields 3%.

Raytheon Technologies

(RTX) declared a quarterly disbursement of 55 cents a share, up 4 cents, or about 8%, from 51 cents. The aerospace and defense company’s stock, which has returned around 15% in 2022, yields 2.2%.

Money manager

Invesco

(

IVZ

) said it will up its quarterly payout to 18.75 cents a share from 17 cents. That’s an increase of about 10%. The stock, which yields 3.9%, has returned about minus 16% this year.

Sysco

(SYY) said it will raise its quarterly dividend to 49 cents a share, up 2 cents or about 4%. The food service’s company stock, which has returned about 14% year to date, yields 2.2%.

In one of the largest increases announced this week,

Parker-Hannifin

(PH) plans to raise its quarterly dividend to $1.33 a share from $1.03. That’s a 29% increase.  The company makes industrial components. The stock, which yields 1.9%, has returned around minus 13% this year.

W.W. Grainger

(GWW) said it will boost its quarterly payout to $1.72 cents a share from $1.62 cents. That’s an increase of 6%. The company is a distributor of maintenance, repair and other products and services. The stock yields 1.3%, and its return is flattish this year.

The company has increased its dividend for 51 straight years.

American Water Works

(

AWK

) said it will raise its quarterly dividend to 65.5 cents a share, up about 9% from 60.25 cents. The water and waste water utility company’s stock, which yields 1.6%, has returned about minus 15% this year.

Kimco Realty

(KIM) said it plans to raise its quarterly dividend to 20 cents a share from 19 cents for an increase of 5%. The company operates as a real-estate investment trust. It owns and operates open-air, grocery-anchored shopping centers.

The stock, which yields 3.1%, has returned about 8% this year.

Continental Resources

(CLR), an energy company, declared a quarterly dividend of 28 cents a share, an increase of about 22% from 23 cents. Continental is involved with the exploration, development and production of oil, natural gas and other products.

The stock, which has returned about 30% this year, yields 1.5%.

Avery Dennison

(AVY) is planning to raise its quarterly disbursement to 75 cents a share from 68 cents for an increase of about 10%. The company’s products include materials for labels.

The stock, which yields 1.5%, has returned about minus 15% year to date.

Paychex

(PAYX) announced a 20% increase to its quarterly dividend to 79 cents a share from 66 cents. The stock has returned about minus 2% this year, and it yields 2%.

Marathon Oil

(MRO) said it plans to boost its base quarterly dividend by about 15% to 8 cents a share from its last base dividend of 7 cents. The exploration-and-production company’s stock, which yields  0.9%, has returned about 55% this year.

Ameriprise Financial

(AMP) is raising its quarterly disbursement by 11%, or 12 cents a share, to $1.25. The company offers various financial advisory services. The stock, which yields 1.8%, has returned about minus 9% this year.

Write to Lawrence C. Strauss at lawrence.strauss@barrons.com