NEW YORK ( TheStreet) -- Philip Morris International (PM - Get Report) and insurance firms Aflac (AFL - Get Report) and Cincinnati Financial (CINF - Get Report) joined a roster of companies raising their shareholder payouts recently.
Cigarette maker Philip Morris said Friday its board agreed to raise its quarterly dividend by 10.3% to 64 cents per share. It will be payable Oct. 8 to shareholders of record on Sept. 24. That brings the stock's dividend yield to 4.7% as of midday Friday.
Insurance firm Aflac increased its quarterly dividend by 7.1% to 30 cents per share, for a dividend yield of 2.4% as of midday Friday. The new dividend will be paid Dec. 1 to shareholders of record on Nov. 17.
Cincinnati Financial, another insurance firm, upped its quarterly payout by 1.3% to 40 cents per share, to be paid Oct. 15 to shareholders of record on Sept. 22. That gives the stock a yield of 5.7% at current valuations.Flexsteel Industries (FLXS), an Iowan manufacturer of residential, recreational vehicle and commercial upholstered and wooden furniture products, raised its quarterly dividend by 50% to 7.5 cents per share, for a new yield of 2%. The increased payout will be available Oct. 1 to shareholders of record on Sept. 20. Real estate investment trust Dynex Capital (DX), which invests in mortgage securities and loans on a leveraged basis, upped its dividend by 5.3% to 25 cents per share. Due to its participation feature, the Series D 9.5% cumulative convertible preferred stock will also receive 25 cents per share instead of the normal quarterly rate of 23.75 cents per share, Dynex said. Both the common and preferred dividends will be payable Oct. 29 to shareholders of record on Sept. 30. The current yield is 9.5%. Brady (BRC - Get Report), an identification solutions and security systems maker, raised its dividend by 2.9% to 18 cents per share. It will be paid Oct. 29 to shareholders of record on Oct. 8. That brings the stock's current yield to 2.7%.