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Solid Dividend Raises for Three Major Brands (TGT, UTX, CAT)

Check out these three recognizable U.S. brands that recently announced solid increases to their quarterly dividend payouts.

Target Announces 20% Dividend Increase
Retail giant Target Corp. (TGT) late Wednesday said its board of directors approved a 20% boost to its quarterly dividend payout. The new dividend of 36 cents per share (up from a prior 30 cents) will be paid on Sept. 10 to shareholders of record as of Aug. 15.

UTX Lifts Payout 11.5%
Building systems maker United Technologies Corp. (UTX) late Wednesday lifted its dividend payout from 48 cents to 53.5 cents per share, an 11.5% increase. The new dividend will be paid on Sept. 10 to shareholders of record as of Aug. 15.

Caterpillar Boosts Dividend by 13%
Construction and mining equipment maker Caterpillar Inc. (CAT) on Thursday raised its quarterly dividend by 13% to 52 cents per share. The new dividend (up from a prior 46 cents) will be paid on Aug. 20 to shareholders of record as of July 20. This move marks the 19th consecutive year CAT has boosted its dividend.

The Bottom Line
Shares of Target (TGT) will now have a 2.48% dividend yield, based on the dividend payout hike as well as last night’s closing stock price of $58.05. The stock has technical support in the $54 price area. If the shares can firm up, we see overhead resistance around the $60-$61 price levels.

Shares of United Technologies (UTX) will now have a 2.91% dividend yield, based on the dividend payout hike as well as last night’s closing stock price of $73.54. The stock has technical support in the $67-$70 price area. If the shares can firm up, we see overhead resistance around the $76-$78 price levels.

Shares of Caterpillar (CAT) will now have a 2.44% dividend yield, based on the dividend payout hike as well as last night’s closing stock price of $85.29. The stock has technical support in the $80 price area. If the shares can firm up, we see overhead resistance around the $90-$92 price levels.

None of the dividend stocks mentioned in this article are currently recommended by Dividend.com.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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