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Dividend Stocks of the Week: April 22

These companies have all boosted their dividends recently.

It is interesting to note that although several well-known financial stocks -- Wachovia (WB) - Get Weibo Corporation Report, CIT Group (CIT) - Get CIT Group Inc. Report and UBS (UBS) - Get UBS Group AG Registered Report had major dividend cuts, yet half the dividend increasers last week were financials. Stockpickr has put together a list of the top 10 dividend increasers for the week.

One of the highest dividend increasers was

Rockwell Collins


, a maker of communications and aviation products. It just increased its quarterly dividend by 50% to 24 cents a share. Embraer recently announced that their new Midsize Jet and Midlight Jet will feature the Rockwell Collins Pro Line Fusion avionics, the first time Rockwell Collins' integrated avionics will be used in the Embraer executive jet family. The stock has a price-over-earnings ratio (P/E) of 18, a P/E to growth ratio (PEG) of 0.89, and a yield of 1.5%.

Rockwell is part of the portfolio of the 5-star rated

Hancock Horizon Value Trust

, which is managed by David Lundgren. The fund has had an average annual return of 18.35% over the last five years. Hancock also owns

Precision Castparts


, with a yield of 0.1%,


(CMI) - Get Cummins Inc. Report

, with a yield of 1%, and


(COP) - Get ConocoPhillips Report

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, with a 2.3% yield.

Another dividend raiser is

The J. M. Smucker Company

(SJM) - Get J.M. Smucker Company (The) Report

, which boosted its quarterly dividend by 6.7% to 32 cents a share. This manufacturer of food products reported last month that they have decided to take over Europe's Best, a Montreal-based privately owned frozen fruits and vegetables company. The stock has a P/E of 16, a PEG of 1.84 and a yield of 2.6%.

Smucker shows up in the Stockpickr portfolio called

Chocolate Stocks

, which lists stocks involved in the manufacturing and distribution of chocolate. Other chocolate stocks in the portfolio include


(HSY) - Get The Hershey Company Report

, which yields 3.3%,

Cadbury Schweppes


, yielding 2.7%, and

William Wrigley Jr. Co.


, yielding 2.1%.

Sunoco Products

(SON) - Get Sonoco Products Company Report

is another company that bumped up its quarterly dividend, raising it by 3.8% to 27 cents a share. This is the 26th consecutive year that the company has increased its common-stock dividend. This manufacturer of industrial and consumer products and provider of packaging services has paid dividends since 1925. The stock has a P/E of 16, a PEG of 1.43 and a yield of 3.1%.

Sunoco Products is also owned by

Atlantic Investment Management

, a New York based independent investment firm with $4.1 billion under management.

For the list of all the

top ten dividend increasers for the week

, go to

At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

James Altucher is president of


LLC, a wholly owned subsidiary of and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the

Financial Times

and the author of

Trade Like a Hedge Fund


Trade Like Warren Buffett



. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;

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