Explore last week's top dividend-increasing stocks, indicating strong financial performance and commitment to investor returns. Promising options for dividend income.
Dividends
April 18, 2023
Sensata Technologies (ST) has recently announced its first quarter 2023 financial results will be disclosed on April 25, 2023, at 6:00 a.m. ET. The company's Board of Directors has approved a quarterly dividend of $0.12 per share, payable on May 24, 2023, to shareholders of record as of May 10, 2023.This marks a dividend increase for the company, and it maybe attributed to recent developments, including positive financial performance and strong cash flow. Investors may find this news positive for the stock's dividend prospect sand overall growth potential.
Procter &Gamble, a leading consumer goods company, has announced an increase in its quarterly dividend by three percent to $0.9407 per share. This marks the 67th consecutive year that P&G has increased its dividend and the 133rd consecutive year that it has paid a dividend since its incorporation in 1890.The dividend increase is a testament to the company's commitment to return cash to shareholders, providing a steady and reliable source of income for investors. P&G's decision to increase its dividend was likely influenced by recent positive financial performance and continued growth in key markets, such as healthcare and home care products. With a strong track record of dividend increases and a solid financial position, P&G's stock and dividend prospects remain promising for investors.
Tanger Factory Outlet Centers, Inc. (SKT), a top operator of upscale open-air outlet centers, has increased its dividend by 11.4% from $0.88 to $0.98 per share on an annualized basis, which underscores its commitment to rewarding shareholders. The company's CEO, Stephen Yalof, has emphasized Tanger's solid balance sheet and strong business model as the key drivers behind this dividend increase, which is the third in less than a year,cumulatively growing the annual dividend by more than 20%. Tanger Factory Outlet Centers is well-positioned to execute on its long-term growth strategies, providing an attractive total return for shareholders, while offering liquidity and flexibility.
Agree Realty Corporation (ADC) has announced a 1.3% increase in its monthly cash dividend,from $0.24 to $0.243 per common share, and a 3.8%increase in its annualized dividend amount, from $2.808 to $2.916 per common share from the second quarter of 2022. This move follows the company's recent impressive performance, where they recorded a revenue increase of 18% in Q4 2022, and a net income increase of 68%. Additionally, ADC's strong portfolio of retail properties and tenants,coupled with their significant acquisition activity, have contributed to this dividend increase. This announcement is great news for ADC shareholders, and it highlights the company's commitment to maximizing shareholder value through consistent dividend growth.
Targa Resources Corp. (TRGP) recently declared a 43%increase in its quarterly cash dividend to $0.50 per common share for the first quarter of 2023. The decision to increase the dividend was made by the company's board of directors, and the cash dividend will be paid on May 15,2023, to holders of record as of April 28, 2023. The company is set to report its first quarter 2023 financial results on May 4, 2023. Targa Resources Corp.increased its dividend due to its strong financial performance, reflecting a positive outlook for the company's future growth prospects. Investors seeking dividend income may find Targa Resources Corp. to be an attractive option with its dividend increase and expected positive financial results.
Infosys Ltd (INFY)reported fourth-quarter results that missed Street expectations with revenue growth of 6.4% YoY to $4.55 billion,lower than the consensus of $4.74 billion. However, the company increased its dividend by 9.7% over FY22,recommending a final dividend of ₹17.50 per share($0.21 per ADS) for FY23. The total dividend per share for FY23 will amount to₹34.00 ($0.41 per ADS). The CEO and MD, Salil Parekh, credited the dividend increase to the company's strong performance in FY23 due to its continued focus on digital, cloud, and automation capabilities that resonated with clients. In addition, Infosys launched exciting programs with its clients leveraging generative AI platforms.The company expects revenue growth of 4%-7% in constant currency for FY24. Although INFY shares traded lower by 5.45% at $16.14 in premarket on Thursday,the strong interest from clients for efficiency, cost,and consolidation opportunities, resulting in a strong large deal pipeline, may indicate a positive outlook for the company's dividend prospects.
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