September 2025 brought a mix of dividend increases across industries, from telecom giants and cruise lines to banks, energy, and emerging-market companies. These hikes highlight strong cash flows, resilient demand, and management’s focus on delivering shareholder returns.
‍

Below are the Top 10 Dividend Increases for September 2025, ranked from #10 to #1, with additional details on what’s driving these payouts.

‍

Here are the Top 10 Dividend Increases of September 2025

‍

10. IDA | IDACORP, Inc. – Dividend Increase: 7.3% 

‍

IDACORP, the parent company of Idaho Power, approved its 14th consecutive annual dividend increase, raising the quarterly dividend to $0.88 per share. Since 2011, the utility has grown dividends by a cumulative 193%. With stable electricity demand in the Pacific Northwest and a growing renewable energy portfolio, IDACORP continues to deliver consistent income for shareholders.
‍

IDACORP is the parent company of Idaho Power, a regulated electric utility serving over half a million customers across Idaho and eastern Oregon. The company generates electricity from a diverse mix of hydroelectric, natural gas, coal, and renewable energy sources. Its stable, regulated revenue model provides predictable cash flow, which supports steady dividend growth.

‍

Share Price: $130
Dividend Yield: 2.62%

‍

9. FFMH | First Farmers and Merchants Corporation – Dividend Increase: 7.4%

‍

First Farmers and Merchants is a Tennessee-based community bank with a history of consistent dividend growth. The company increased its quarterly dividend to $0.29 per share, a 7.4% boost, supported by steady loan growth and disciplined expense management. While smaller than other names on this list, First Farmers continues to reward investors with predictable, incremental increases year after year.
‍

First Farmers, headquartered in Columbia, Tennessee, operates more than 20 branches across Middle Tennessee and serves both individuals and small businesses. Its core business lines include commercial lending, personal banking, mortgage services, and wealth management. By focusing on community-driven financial services, the bank has cultivated a loyal customer base in one of the fastest-growing regions of the Southeast.

‍

Share Price: $43
Dividend Yield: 2.64%

‍

8. PM | Philip Morris International Inc. – Dividend Increase: 8.9%

‍

Philip Morris, one of the world’s largest tobacco companies, raised its dividend to an annualized $5.88 per share, an 8.9% increase. Despite long-term declines in cigarette volumes, Philip Morris has leaned heavily on its IQOS heated tobacco products and smoke-free portfolio for growth. The increase reflects strong international cash flow and a commitment to maintaining its reputation as a reliable dividend payer.
‍

Philip Morris is one of the world’s largest tobacco companies, operating in more than 180 countries. While its traditional cigarette portfolio remains substantial, the company has been pivoting toward smoke-free alternatives through its flagship IQOS heated tobacco products. These devices, marketed as reduced-risk alternatives, have seen strong adoption in markets like Japan and parts of Europe, helping offset volume declines in conventional cigarettes.

‍

Share Price: $159
Dividend Yield: 3.66%

‍

7. CHCO | City Holding Company – Dividend Increase: 10%

‍

City Holding, a community bank headquartered in Charleston, West Virginia, raised its dividend from $0.79 to $0.87 per share. The 10% hike reflects healthy earnings, loan portfolio stability, and a strong deposit base across its regional footprint. For income investors, CHCO represents a smaller-cap financial stock with reliable returns.
‍

City Holding is a $6.6 billion bank holding company headquartered in Charleston, West Virginia. Through its subsidiary, City National Bank, it provides retail and commercial banking services, mortgage lending, and wealth management across West Virginia, Kentucky, Virginia, and Ohio. Its strong regional presence, customer loyalty, and disciplined balance sheet management have allowed it to generate consistent earnings while maintaining excellent asset quality.

‍

Share Price: $121
Dividend Yield: 2.84%

‍

6. SNX | TD SYNNEX – Dividend Increase: 10%

‍

TD SYNNEX, a leading IT distributor, raised its dividend by 10% following record Q3 results. The company reported $15.65 billion in revenue, beating analyst expectations, and continues to expand through cloud, AI, and cybersecurity product demand. The increase highlights management’s confidence in cash generation despite share price volatility during earnings season.
‍

TD SYNNEX is one of the world’s largest IT distribution and solutions providers, formed from the 2021 merger of Tech Data and SYNNEX Corporation. It supplies technology products and services across cloud computing, cybersecurity, AI, and advanced data infrastructure. The company partners with thousands of IT vendors and resellers, making it a key player in the global tech supply chain.

‍

Share Price: $163
Dividend Yield: 1.07%

‍

5. IDCC | InterDigital, Inc. – Dividend Increase: 16%

‍

InterDigital, a research and development firm focused on mobile, video, and AI technologies, raised its quarterly dividend from $0.60 to $0.70 per share. With a strong patent licensing business and ongoing investment in 5G and next-gen AI standards, InterDigital’s 16% increase highlights its ability to generate stable, recurring cash flows in a competitive tech landscape.
‍

InterDigital is a research and development firm specializing in wireless communications, video, and AI technology. The company holds a vast portfolio of patents across 3G, 4G, 5G, and emerging 6G standards, licensing its intellectual property to some of the largest tech and telecom companies in the world. Its licensing model provides steady, recurring revenue streams, while its ongoing research positions it at the forefront of mobile and video technology evolution.

‍

Share Price: $352
Dividend Yield: 0.80%

‍

4. TMUS | T-Mobile US, Inc. – Dividend Increase: 16%

‍

T-Mobile, the third-largest wireless carrier in the U.S., raised its quarterly dividend by 16%. The company continues to capture market share through aggressive 5G expansion and competitive pricing. With subscriber growth outpacing rivals AT&T and Verizon, this dividend hike signals T-Mobile’s transition from a growth-first disruptor to a reliable income stock.
‍

T-Mobile is the third-largest U.S. wireless provider, known for its aggressive expansion strategy following the Sprint merger. The company has built one of the most advanced nationwide 5G networks, giving it a competitive edge over rivals AT&T and Verizon. T-Mobile’s strategy of competitive pricing and bundled services has continued to attract new subscribers while keeping churn low.

‍

Share Price: $230
Dividend Yield: 1.57%

‍

3. RCL | Royal Caribbean Group – Dividend Increase: 33%

‍

Royal Caribbean, one of the world’s largest cruise operators, raised its dividend by 33%. Stronger-than-expected bookings, higher onboard spending, and fleet expansion have fueled its post-pandemic rebound. The increase is part of a broader capital return program, positioning RCL as both a recovery play and an income-generating stock.
‍

Royal Caribbean is one of the world’s largest cruise operators, with a portfolio of brands that includes Royal Caribbean International, Celebrity Cruises, and Silversea. Its global fleet serves millions of passengers annually, and the company continues to invest in new ships and onboard experiences to attract travelers. With international travel rebounding and consumer appetite for leisure spending rising, the company has seen a surge in revenue and onboard spending.

‍

Share Price: $316
Dividend Yield: 0.97%

‍

Other Notable Dividend Increases – September 2025

• VZ | Verizon Communications Inc. – Dividend raised 1.25 cents to $0.69/share (Sep 5)
  
  
• WDH | Waterdrop Inc. – 50% dividend increase to $10.9M payout pool (Sep 4)
  
  

Sign up for LevelFields for the remaining companies with the largest dividend increases and get alerts every time a company does a massive dividend increase. 

‍

LevelFields tracks every dividend increase at the time of announcement, so you get the stock pop and the increased dividend payout. Double Win.

‍

‍

Sign up for access to see the top 2 dividend increases last month plus 23 other event-driven strategies, 180 days of news, 100 custom event alerts, unlimited custom watchlists, and more.

Premium access is available for $167/mo or $133/mo billed annually, where our analysts use our proprietary AI to generate trade and event-driven investment ideas for you each week.