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TheStreet Open House

7 Dividend Stocks Paying You More Cash

A.O. Smith

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New Dividend: 20 cents quarterly (per share)

Dividend Percent Increase: 25%

Current Yield: 1.68%

It's been a solid year for shareholders of A.O. Smith (AOS) -- the mid-cap water heater maker has rallied more than 18.6% so far in 2012. A.O. Smith has a big tailwind from its core product. After all, water heaters aren't something that most customers are willing to put off replacing when the time comes.

While a pullback in construction spending has ultimately impacted AOS substantially in the last several years, the firm has slowly been climbing sales post-recession. The economic payoff and convenience of bigger-ticket products like on demand tankless heaters could be a big catalyst to help make up for lost ground on the top line as consumers look for ways to make their homes more efficient.

AOS announced a 25% dividend hike on Monday, bringing its quarterly dividend to 20 cents per share, a 1.68% yield.

To see these dividend plays in action, check out the Dividend Stocks for the Week portfolio on Stockpickr.

And if you haven't already done so, join Stockpickr today to create your own dividend portfolio.

-- Written by Jonas Elmerraji in Baltimore.

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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on MSNBC.com.
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