Despite massive layoffs in the mortgage industry, recession fears, dramatic declines in employment figures and a depressed and volatile stock market, there are still companies out there with a strong enough belief in their future business to increase their
Stockpickr has sorted through the list of last week's dividend-raisers and assembled the
Top 10 Dividend Increases for the Week of Sept. 8
, those stocks with the highest percentage increase in dividends.
-traded stock with the most significant dividend increase is
(CBS - Get Report)
. The television network -- which also owns radio stations, billboards and various publishing companies including Simon & Schuster -- just raised its quarterly dividend by 14%. The 25 cents-a-share payment equates to a 3.2% yield. CBS also announced that it plans to buy back $1.6 billion worth of its stock. CBS stock has a
price-to-earnings (P/E) ratio
of 18 and a P/E-to-growth (PEG) ratio of 2.
|| Does an increased dividend bolster your confidence in a stock?
CBS also shows up in the
Socially Responsible Large-Cap Stocks
, a Stockpickr portfolio that lists publicly traded companies screened for community relations, diversity, labor relations, environmental practices, human rights, product safety and quality and corporate governance. Other dividend-paying stocks on this list include
Bank of New York Mellon
(BK - Get Report)
, which yields 2.4%, and
(BXP - Get Report)
, a real estate investment trust that yields 2.7%.
Another company that recently raised its dividend is
, a small-cap ecommerce company that markets StoresOnline software and Web site development platforms. The company increased its dividend by 10% to 11 cents a share and revised its dividend-payment schedule from semiannually to quarterly.
Its board of directors just approved a second share-buyback program of $50 million, for a total of $70 million. In addition, it just reported a huge surge in quarterly earnings from 17 cents a share to 41 cents, a 141% increase. The company has had legal problems with its marketing in California and North Carolina; however, it is confident that the issues will be resolved. The stock has a P/E of 10 and generates a yield of 2.3%.