NEW YORK ( TheStreet) -- Philip Morris International ( PM) and insurance firms Aflac ( AFL) and Cincinnati Financial ( CINF) joined a roster of companies raising their shareholder payouts recently.

Cigarette maker Philip Morris said Friday its board agreed to raise its quarterly dividend by 10.3% to 64 cents per share. It will be payable Oct. 8 to shareholders of record on Sept. 24. That brings the stock's dividend yield to 4.7% as of midday Friday.

Insurance firm Aflac increased its quarterly dividend by 7.1% to 30 cents per share, for a dividend yield of 2.4% as of midday Friday. The new dividend will be paid Dec. 1 to shareholders of record on Nov. 17.

Cincinnati Financial, another insurance firm, upped its quarterly payout by 1.3% to 40 cents per share, to be paid Oct. 15 to shareholders of record on Sept. 22. That gives the stock a yield of 5.7% at current valuations.

Flexsteel Industries ( FLXS), an Iowan manufacturer of residential, recreational vehicle and commercial upholstered and wooden furniture products, raised its quarterly dividend by 50% to 7.5 cents per share, for a new yield of 2%. The increased payout will be available Oct. 1 to shareholders of record on Sept. 20.

Real estate investment trust Dynex Capital ( DX), which invests in mortgage securities and loans on a leveraged basis, upped its dividend by 5.3% to 25 cents per share. Due to its participation feature, the Series D 9.5% cumulative convertible preferred stock will also receive 25 cents per share instead of the normal quarterly rate of 23.75 cents per share, Dynex said. Both the common and preferred dividends will be payable Oct. 29 to shareholders of record on Sept. 30. The current yield is 9.5%.

Brady ( BRC), an identification solutions and security systems maker, raised its dividend by 2.9% to 18 cents per share. It will be paid Oct. 29 to shareholders of record on Oct. 8. That brings the stock's current yield to 2.7%.

Frisch's Restaurants ( FRS), the operator of family-style restaurants under the names Frisch's Big Boy and Golden Corral, upped its payout by 15.4% to 15 cents per share, for a current yield of 3%. The new payout will be available Oct. 8 to shareholders of record on Sept. 20.

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Cascade ( CASC), the manufacturer of load engagement devices for the lift truck industry, increased its quarterly payout by 50% to 10 cents per share, payable Oct.14 to shareholders of record as of Sept. 29. The stock's current yield is 1.3%.

Department store retailer Stage Stores ( SSI), which operates 750 stores in the U.S. under brands including Bealls, Goody's and Peebles, also upped its quarterly payout by 50% to 7.5 cents per share, its first dividend increase since 2006. It will be paid Sept. 22 to shareholders of record Sept. 7. Stage's current yield is 2.5%.

MGE Energy ( MGEE), a utility stock engaged in generating, purchasing, transmitting, and distributing electricity, raised its quarterly dividend to 37.51 per share, up 1.8% from its prior payout and the firm's 35th annual dividend increase. It will be paid Sept. 15 to shareholders of record on Sept. 1. At current valuations the stock's yield is 3.9%.

Convenience store operator Casey's General Stores ( CASY) upped its payout by 35% to 13.5 cents per share, for a current yield of 1.2%. The increased dividend will be paid Nov. 15 to shareholders of record on Nov. 1.

BancFirst ( BANF), a regional bank, increased its dividend by 8.7% to 25 cents per share. It will be paid Oct. 15 to shareholders of record Sept. 30. At current valuations the stock's yield is 2.6%.

G&K Services ( GKSR), which sells uniforms and other branded apparel and paraphernalia to a range of industries from automotive and energy to pharmaceutical and food processing companies, upped its payout by 26.7% to 9.5 cents per share. It will be paid Sept. 30 to shareholders of record on Sept. 16. That brings the stock's yield to 1.8%.

Non-governmental shipyard operators Todd Shipyards ( TOD) will pay its investors a dividend of 10 cents per share, up 25% from its prior payout. It will be available Dec. 23 to shareholders of record on Dec. 8. At current valuations the stock's yield is 2.6%.

First Capital ( FCAP), a savings and loans bank, raised its payout by 5.6% to 19 cents per share, payable Sept. 30 to shareholders of record on Sept. 16. The increased payout brings the stock's current yield to 4.9%.

Lawson Products ( LAWS), a manufacturer of abrasives, electrical tools and vehicle maintenance products, increased its quarterly dividend by 33.3% to 8 cents per share. It will be paid Oct. 12 to shareholders of record on Sept. 28. At current valuations the stock's yield is 2.3%.

Insurance company Torchmark ( TMK) raised its dividend by less than 1% to 16 cents per share. It will be paid Nov. 1 to shareholders of record on Oct. 2, bringing the stock's yield to 1.2%.

Starwood Property Trust ( STWD), which invests in commercial mortgage loans and other commercial real estate debt investments, upped its payout by 32% to 33 cents per share. The increased dividend will be paid Oct. 15 to shareholders of record on Sept. 30. That brings the stock's current dividend yield to 6.7%.

-- Written by Miriam Marcus Reimer in New York.

>To contact the writer of this article, click here: Miriam Reimer.

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