Top Dividend Stocks of the Week

Updated from 7:03 a.m. EDT

According to Standard & Poor's, in the second quarter of this year, there were more cutbacks in dividend payouts than there were for any other quarter in the last 20 years, with 17 of 20 financial stocks in the S&P 500 cutting their payouts during this year.

Companies such as Citigroup(C Quote), Wachovia(WB Quote), National City(NCC Quote) and Washington Mutual(WM Quote) have slashed their dividends, and Grubb & Ellis(GBE Quote) has suspended its dividend.

When stocks raise their dividend during this turmoil, it usually means the company is doing extremely well. Stockpickr has compiled a list of the stocks that increased their dividends last week. The portfolio includes CVS Caremark(CVS Quote) and Walgreen(WAG Quote).

To read the rest of the story and see the rest of the list of dividend-increasers, please click here.