Updated from 6:32 a.m. EST
More than a dozen stocks increased their dividends last week and, surprisingly, in the current financial crunch, a few of them were bank stocks. When a company raises its dividend payout, the action serves as a powerful statement that the company believes it'll deliver strong earnings in the future.
Stockpickr has reviewed the stocks that just increased their dividends and came up with
One of the companies that boosted its payout is
, which raised its quarterly dividend by 20% to 6 cents a share. The Atlanta-based oilfield services company also just reported a 16% increase in fourth-quarter revenue but a 31% drop in profits due to increased competition. The stock has a price-to-earnings (P/E) ratio of 12 and a yield of 2.4%.
RPC also appears in
, a Stockpickr portfolio that also lists
, which produces clad-metal plates and welding services and has a yield of 0.3%,
, with a yield of 1.9%, and
( FTO), with a yield of 0.6%.
Another recent dividend raiser is
, which increased its quarterly payout by 12% to 38 cents a share. This manufacturer of all-terrain vehicles, snowmobiles and motorcycles also also posted a 16% rise in fourth-quarter profits and increased its stock-repurchase program by another 3.5 million shares. The stock has a P/E of 15, a P/E-to-growth (PEG) ratio of 1 and a yield of 3.8%.
Polaris is a stock owned by
, the first closed-end fund to be turned into an exchange-traded fund. The fund also owns shares of
, which has a yield of 2.2%,
Telecom Corp. of New Zealand
( NZT), which yields 8%, and
Plum Creek Timber
Filtration systems manufacturer
also raised its quarterly dividend last week, by 10% to 11 cents a share. The payment marks the company's 210th consecutive quarterly cash dividend, which it has paid over the last 52 years. The stock has a P/E of 21, a PEG of 1.5 and a yield of 1.1%.
Donaldson also shows up in the portfolio of
, a five-star Morningstar-rated fund that also holsds shares of
Expeditors International of Washington
, which offers a yield of 0.6%,
Abercrombie & Fitch
, with a 0.9% yield, and
, with a 1.7% yield.
To see more stocks with freshly raised dividends, check out the
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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