Despite the fact that last week was a light one on Wall Street before the Labor Day weekend, several companies took the major financial step of increasing their dividends, providing shareholders with an added incentive to stay long.
Stockpickr has sorted through the list of last week's dividend-raisers and extracted the ones that offer the highest yields in the
One of the highest-yielding stocks on this week's list is
, which yields 4.3% and just increased its quarterly dividend by 8.7% to 75 cents a share.
Last week, the tobacco company's board of directors announced plans to spin off Phillip Morris International.
Also, last Friday, a judge ruled in favor of Altria, throwing out a lawsuit filed by three people from Maine claiming deceptive and unfair advertising relating to the company's so-called light cigarettes. The stock has a price-to-earnings (P/E) ratio of 13 and a P/E-to-growth (PEG) ratio of 2.2.
Altria is one of the most widely held stocks by institutions, among them, the
, which has generated an average annual return of 18.7% for the last three years.
The fund invests more than 80% of its assets in stocks that are considered socially irresponsible. The Vice Fund also contains
, the London-based distributor of liquor, wine and beer. Diageo has a P/E of 17, a PEG of 1.6 and a yield of 2.4%.
Another stock on the raised-dividend list is
Canadian Imperial Bank of Commerce
, which offers a yield of 3.2% and just announced a dividend increase of 13% to 87 cents (Canadian).
CIBC, which trades on the
New York Stock Exchange
, doesn't appear to be affected by the subprime-mortgage market as much as many U.S. banks, as the company just reported a 26% increase in net earnings for the latest quarter. The stock has a forward P/E of 11 and a PEG of 1.2.
CIBC falls into the
, a Stockpickr list of stocks that have a market capitalization greater than $250 million, a share price greater than $75 and less than $100, and a PEG less than 2.0.
Another stock in the portfolio is
Freeport-McMoRan Copper & Gold
, a mining company that happens to be one of Jim Cramer's
. The stock has a P/E of 10, a PEG of 0.83 and a yield of 1.5%.
is an additional stock in the dividend-increase portfolio. The heavy-machinery maker just increased its dividend by a significant 14% to 50 cents a share, to yield 1.5%.
It also announced a 2-for-1 stock split. Last week, it announced the completion of its acquisition of Chinese tractor company Ningbo Benye. Deere's stock offers a P/E of 18 and a PEG of 1.8.
Deere also appears in
, a list of agriculture stocks that Cramer favors. Some other stocks in the Ag portfolio are
, which yields 0.8%,
, which yields 0.7%, and
, which yields 1%.
For the complete list, 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 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
. 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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