The Top Dividend Stocks of the Week

Updated from 6:58 a.m. EDT

When you hear that some companies -- for instance, Borders (BGP) -- have suspended their dividend payments, it is comforting to see that other companies are doing the opposite and raising their shareholder payout rates.

Last week saw more than half-a-dozen dividend increases of 10% or more. Stockpickr has reviewed the stocks that raised their dividends and compiled the Top Dividend-Raisers for the Week Ending March 22.

One of the biggest dividend increases last week came from Ampco-Pittsburgh (AP), the manufacturer of custom-engineered equipment, which boosted its quarterly payout rate by 20%. The company in January said it swung to a profit in the fourth quarter ended Dec. 31. It posted earnings of $1 a share vs. a loss of 22 cents a share in the year-ago quarter. The stock has a price-to-earnings (P/E) ratio of 11 and a yield of 1.6%.

Ampco appears in the Stockpickr portfolio called Barron's Research Reports March 22. Other stocks in this portfolio include JPMorgan Chase (JPM), which has a yield of 3.6%, and Woodward Governor (WGOV), with a 0.9% yield.

Intel (INTC) also last week increased its dividend for the second time in recent months. The chipmaker raised its quarterly dividend 10% to 14 cents a share. The company just announced that it will be offering its low-cost Classmate PC laptop in the U.S. later this year for less than $500. The stock has a forward P/E of 14, a P/E-to-growth (PEG) ratio of 1.1 and a yield of 2.4%.

One of the hedge funds that owns Intel stock is Highbridge Capital Management. The firm, which has more than $7 billion in assets under management, also invests in State Street (STT), which has a 1.2% yield, Joy Global (JOYG), which has a 0.9% yield, and Western Union (WU), which has a 0.2% yield.

Air Products and Chemicals (APD) raised its quarterly dividend 16% to 44 cents from 38 cents a share. This industrial chemicals and gas company just announced that the CEO John McGlade was named as chairman. The stock has a forward P/E of 17, a PEG of 1.3 and a yield of 1.7%.

Air Products shows up in the portfolio of the Columbia Mid-Cap Value Fund, a four-star Morningstar-rated fund managed by Lori Ensinger. Columbia also owns shares of PG&E (PCG), which has a yield of 4.2%, PPL (PPL), which has a yield of 2.9%, and Parker Hannifin (PH), which has a 1.3% yield.

To see the entire list of 10 higher-yielding stocks, check out the Top Dividend-Raisers for the Week Ending March 22 at Stockpickr.com.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Ampco-Pittsburgh to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

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