Diversified industrial firm Idex (IEX) is another name that hiked its dividend payouts this week. On Tuesday, the firm announced a 17.65% dividend increase that brings its yield to just shy of 2%.
Idex has its hands in everything from fluid pumps and metering devices to health and science products to fire and safety offerings. That business diversification is attractive for an industrial stock, but it doesn't really spare Idex from cyclical swings; fluid pumps and meters make up close to half of sales, so any hiccups in that market can still have dramatic effects on the firm's financial performance.That said, some economic tailwinds in the water industry should keep demand reasonably strong for IEX's pump and meter offerings in 2012. Financially, IEX is in good shape with ample balance sheet liquidity and a moderate debt load. That positioning should help keep those dividends flowing for the foreseeable future. The yield is a little on the low side for income investors, but this industrial has enough attractive attributes to give it a supporting role for income portfolios. Idex shows up on a list of 10 Small-Cap Stocks Safe for Skittish Investors. Follow @stockpickr