The Top Dividend Stocks of the Week

Updated from 6:54 a.m. EST

It is great to see companies raising their dividends, especially after the stock market has delivered several days of selloffs. It shows that there are still positive opportunities, even when other stocks, like Alcatel (ALU Quote - Cramer on ALU - Stock Picks), are eliminating their dividends, or, like TeliaSonera AB (NUAN Quote - Cramer on NUAN - Stock Picks), are reducing their dividends.

Stockpickr has put together the Top Dividend-Raisers for the Week, a list of 10 stocks that last week increased their dividend payments for shareholders.

One of the stocks with the biggest dividend boosts last week was Smith International (SII Quote - Cramer on SII - Stock Picks), an oil services firm that increased its quarterly dividend by 20% to 12 cents a share. For the fourth quarter of 2007, the company reporteded revenue was up 15% year over year. A couple of weeks ago, Citigroup upgraded the company from a hold to a buy. Smith has a price-to-earnings (P/E) ratio of 18, a P/E-to-growth (PEG) ratio of 0.7 and a yield of 0.9%.

Smith International is a stock owned by Viking Global Investors, a $3 billion hedge fund that invests in financial, telecommunication, media, technology and consumer stocks. Other stocks that the fund owns includes MasterCard (MA Quote - Cramer on MA - Stock Picks), which pays a yield of 0.3%, Fidelity National Information Services (FIS Quote - Cramer on FIS - Stock Picks), which yields 0.5%, and Prudential Financial (PRU Quote - Cramer on PRU - Stock Picks) at 1.6%.

Another dividend-raiser was Ryder System (R Quote - Cramer on R - Stock Picks). The truck rental company raised its quarterly dividend 9.5% to 23 cents a share. Ryder also recently reported its fourth-quarter financials, showing a earnings per share increase of 9%. The stock has a P/E of 14, a PEG of 1.1 and a yield of 1.4%.

Ryder shows up in the Stockpickr portfolio called Insider Purchases and Buybacks XXXIV, which lists stocks that have a significant insider purchase or stock buyback. Other stocks in this portfolio include Cummins (CMI Quote - Cramer on CMI - Stock Picks), with a yield of 1%, L-3 Communications (LLL Quote - Cramer on LLL - Stock Picks), with a 1.1% yield, and Cytec Industries (CYT Quote - Cramer on CYT - Stock Picks), with a 0.9% yield.

Consumers must still be buying toys since Hasbro (HAS Quote - Cramer on HAS - Stock Picks) bumped up its quarterly dividend by 25% to 20 cents a share. The company also recently announced a repurchase of an additional $500 million in common stock. Hasbro has a P/E of 14.5, a PEG of 1.3 and a fairly high yield for a toy company of 3.1%.

Hasbro is also part of Top Stock Gifts for Kids, a Stockpickr portfolio that lists stocks with favorable financials and that produce products or provide services for children and teenagers. Other stocks in this portfolio include Wendy's (WEN Quote - Cramer on WEN - Stock Picks), which yields 2.1%, and William Wrigley Jr. (WWY Quote - Cramer on WWY - Stock Picks), with a 2.4% yield.

To see the entire list of the top dividend raisers for the week, check out the Top Dividend-Raisers for the Week at Stockpickr.com.