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The Top Dividend Stocks of the Week

Here are some of the latest stocks to raise their dividends.

Updated from 6:24 a.m. EST

Companies are continuing to send strong positive signals by increasing their dividends. The companies that boosted their payements last week are involved in businesses across the board, including banking, publishing, railroad equipment, electric utilities and direct marketing.

To assist those investors looking for higher-yielding market plays, Stockpickr has put together the

Top Dividend-Increasers for the Week Ending 2-2-08


One of the biggest dividend raises last week came from credit card and banking company

Capital One Financial

(COF) - Get Free Report

, which increased its quarterly dividend to 37.5 cents a share from 2.7 cents. In addition to the dividend increase, the company's board approved a $2 billion share-buyback plan. The stock has a price-to-earnings (P/E) ratio of 12, a P/E-to-growth (PEG) ratio of 0.7 and a yield of 2.6%.

Capital One stock is owned by

Ronald Muhlenkamp

, manager of Muhlenkamp & Company. which has outperformed the

S&P 500

over the last 10 years. Other stocks he likes include


(CX) - Get Free Report

, which pays 2.7%,

Merrill Lynch


, which yields 2.4%, and


(COP) - Get Free Report

, which yields 2%.


(FLR) - Get Free Report

also boosted its quarterly dividend, raising its payout by 25% to 25 cents a share. This engineering and construction company will post earnings results later this month and has scheduled its earnings call for Thursday, Feb. 28. Flour has a P/E of 28, a PEG of 1.8 and a yield of 0.8%.

Flour shows up in the portfolio of the

CGM Focus Fund

, which is rated five starts by Morningstar. It also holds

Companhia Vale do Rio Doce

(RIO) - Get Free Report

, which yields 1%,


(CEO) - Get Free Report

, which yields 2.2%, and



, which pays 0.8%.


(GTX) - Get Free Report

also increased its dividend, boosting the quarterly payment by 12.5% to 27 cents a share. The railroad leasing company recently reported adjusted fourth-quarter earnings of 62 cents a share, up from 51 cents for the same quarter last year. The stock has a P/E of 10, a PEG of 0.9 and a yield of 2.8%.

GATX shares are owned by the

Lord Abbett Small-Cap Value Fund

, another five-star fund, which invests at least 80% of its assets in Russell 2000 Index stocks. It also owns

PNM Resources

(PNM) - Get Free Report

, which yields 4.8%,


(CW) - Get Free Report

, which yields 0.8%, and


(NX) - Get Free Report

, which pays 1.1%.

To see the complete list of 10 stocks, check out the

Top Dividend-Increasers for the Week Ending 2-2-08


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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