21 Dividend Increases Announced During the COVID Crisis

These 21 stocks were doling out dividend increases as the coronavirus crisis accelerated – and as many stocks were cutting or outright suspending their payouts.

dividends
(Image credit: Getty Images)

Dividend increases, in normal times, are a commonplace occurrence that you can read about by the dozens every week.

But these aren’t normal times.

The COVID-19 pandemic and related shutdowns have forced many businesses into survival mode, looking for ways for to preserve cash and ride out the economic storm. In fact, during the month of April, S&P 500 components announced more dividend cuts and suspensions than they did dividend increases. Smaller companies outside the blue-chip index suffered the same fate, with dozens reducing or eliminating their payout programs altogether.

But if dividend hikes are a sign of fiscal strength during normal times, they’re a downright bold statement when they’re made in the middle of a recession. And some companies have indeed provided payout growth throughout the past couple of months – many of them with longstanding streaks, including several members of the S&P Dividend Aristocrats that have improved their dividends for at least 25 consecutive years.

Here are 21 stocks that have announced dividend increases during the COVID-19 crisis so far. This list can serve as a starting point for income investors looking for secure payouts with the potential for dividend growth over time.

Data is as of June 28. Dividend yields are calculated by annualizing the most recent payout and dividing by the share price.

Lisa Springer
Contributing Writer, Kiplinger.com

Lisa currently serves as an equity research analyst for Singular Research covering small-cap healthcare, medical device and broadcast media stocks.