The Top Dividend Stocks of the Week - TheStreet

A good way to start off the new year is with a dividend increase on one of your stocks. There were several stocks that increased their dividends, and Stockpickr has compiled a list of the top 10 stocks that increased their dividends for the week: Top Dividend-Increasers for the Week Ending 1-12-08.

Cleveland-Cliffs

(CLF) - Get Report

is one of these companies, having raised its quarterly dividend 40% to 17.5 cents a share. This company is in the business of producing iron ore pellets for integrated steel companies. The stock has a price-to-earnings (P/E) ratio of 19 and a yield of 0.8%.

Cleveland-Cliffs is a stock owned by

Tontine Partners

, a hedge fund with a few billion dollars under management that was up over 100% in both 2003 and 2005. Other stocks it holds are

Wabash National

(WNC) - Get Report

, which has a yield of 2.3%,

Trinity Industries

(TRN) - Get Report

, yielding 1.1%, and

Ryland Group

(RYL)

, which has a 2% yield.

Corus Entertainment

( CJR) is another stock that raised its annual dividend, bumping it up by 20 cents, or 20%. In addition to its dividend increase, the Toronto, Ontario-based television and radio company just announced a 2-for-1 stock split. The stock has a P/E of 17.5 and a yield of 2.3%.

Corus also shows up in the Stockpickr portfolio

MSN Money 40 Best Technicals

, which, as its name suggests, lists the top technical stocks according to

MSN Money

. Other stocks in the portfolio include

Albemarle

(ALB) - Get Report

, with a yield of 1.1%,

Goldcorp

(GG)

, with a 0.5% yield, and

Heico

(HEI) - Get Report

, which has a yield of 0.2%.

Embarq

(EQ) - Get Report

raised its quarterly dividend by 10% to 69 cents a share. This telecommunications company also just implemented a $500 million share-repurchase program. Its earnings call is scheduled for Feb. 7. The stock has a P/E of 10, a PEG of 3.6 and a yield of 5.8%.

Embarq shares are also owned by

RiverSource Dividend Opportunity

, a fund that generated an average annual return of more than 14% over the last five years.

Other stocks it holds include

Chevron

(CVX) - Get Report

, with a 2.6% yield,

Bank of America

(BAC) - Get Report

, with a 6.6% yield, and

Carolina Group

(CG) - Get Report

, with a 2.1% yield.

To see the entire list of stocks, check out the

Top Dividend-Increasers for the Week Ending 1-12-08

at 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

Stockpickr

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

Financial Times

and the author of

Trade Like a Hedge Fund

,

Trade Like Warren Buffett

and

SuperCa$h

. 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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