It is interesting to note that although several well-known financial stocks -- Wachovia (WB) - Get Report, CIT Group (CIT) - Get Report and UBS (UBS) - Get 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
, 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
, 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
, with a yield of 0.1%,
, with a yield of 1%, and
, with a 2.3% yield.
Another dividend raiser is
The J. M. Smucker Company
, 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
, which lists stocks involved in the manufacturing and distribution of chocolate. Other chocolate stocks in the portfolio include
, which yields 3.3%,
, yielding 2.7%, and
William Wrigley Jr. Co.
, yielding 2.1%.
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
, a New York based independent investment firm with $4.1 billion under management.
For the list of all the
, go to Stockpickr.com.
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 TheStreet.com 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
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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