Dividend Increases You Can't Miss: 10 Big-Name Stocks

October 01, 2024 at 08:45 AM EDT

Income is an aspect of stock market investing that is often at the top of one's mind, as it can provide a more consistent source of return than betting that the price of a stock will go up. Below are 10 big-name U.S. companies that recently raised the dividends they provide to shareholders.

Honeywell

First up is Honeywell International (NASDAQ: HON). The industrial conglomerate provides a range of services to several industries, including aerospace, from which it generated $13.6 billion in revenue in 2023. It also provides products and software for operating commercial buildings and produces safety equipment like personal protective equipment (PPE). The firm recently raised its quarterly dividend by 5 cents to $1.13 per share. The company’s dividend yield now sits at 2.2%.

Microsoft

If any dividend increase announcement on this list was highly publicized, it must be that of Microsoft Corporation (NASDAQ: MSFT). The AI hyperscaler announced an 8-cent increase to its quarterly dividend, putting the overall figure at $0.83 per share. This represents an increase of 10%. This is a nice boost; however, the company’s dividend yield of 0.8% is still paltry compared to many firms on this list. The company also approved a new share buyback program worth up to $60 billion.

Accenture

Accenture (NYSE: ACN) is a large consulting firm helping companies find ways to improve their operations and implement digital transformations. The company raised its dividend substantially by 15% on Sept. 26. Although a solid bump, the increase keeps pace with the company’s stock price appreciation, not influencing the firm’s dividend yield at the time of the announcement. Its dividend yield is now 1.7%.

Altria Group

Altria Group (NYSE: MO), the well-known tobacco company that makes Marlboro Cigarettes through its subsidiary Philip Morris USA, announced a 4.1% dividend increase in August. The company’s quarterly dividend now sits at $1.02 per share. It’s too late to get this dividend payment now as it was payable to shareholders on record as of Sept. 16. However, it's not too late to get in on the overall income this company can provide. Its eye-watering dividend yield of 8% is the highest on this list.

McDonald's

McDonald's (NYSE: MCD), the world’s largest restaurant company with over 40,000 locations, also just provided shareholders with more income. The company’s 10-cent bump in its quarterly dividend now puts its annual dividend payments at $7.08 per share. The company’s now 2.3% dividend yield looks a little more competitive but still sits vastly below the respective 3.2% and 5.7% yields offered by fast-food rivals Restaurant Brands (NYSE: QSR) and Wendy’s (NASDAQ: WEN).

T-Mobile

One of the world’s biggest telecom companies, T-Mobile (NASDAQ: TMUS), also just announced a massive increase to its quarterly dividend. The company increased the number by 35%, now up to $0.88 per share. The Sept. 18 announcement bumps up the company’s dividend yield substantially to 1.7%. This gets the company closer to providing competitive income versus its rivals AT&T (NYSE: T) and Verizon (NYSE: VZ), which offer yields in the 5% to 6% range.

Texas Instruments

While many chip stocks provide little to nothing in the way of income for shareholders, that’s not the case with Texas Instruments (NASDAQ: TXN). The company raised its quarterly dividend by 6 cents per share, which indicates an annual amount of $5.44. That gives the firm a dividend yield of 2.5%, a number higher than that of many other semiconductor companies.

Verizon

Another huge telecom company, Verizon, just raised its dividend. It did so by a very strange increment: 1.25 cents per share, but it’s an increase nonetheless. Despite this oddity, it marks the 18th consecutive year the company raised its quarterly dividend. It also further increases the company’s already massive dividend yield to just over 6%.

JPMorgan Chase

The largest bank in the United States, JPMorgan Chase (NYSE: JPM), also just announced that its dividends are getting bigger. The firm’s quarterly payment will now sit at $1.25 per share, an over 8% increase from the previous quarter. This puts the company’s dividend yield at 2.2%. This is moderately below some other big U.S. banks.

Intuit

The last company on the list is Intuit (NASDAQ: INTU), the maker of various business and tax software, including QuickBooks, TurboTax, and Mailchimp. The firm instituted a hefty 16% increase for a quarterly dividend of $1.04 per share. However, the company’s dividend yield is still not substantial, coming in at just 0.7%.

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