Yahoo Finance 4 Stocks to Watch That Recently Announced Dividend Hikes
Volatility has returned to Wall Street after a solid first quarter as concerns over inflation continue to dent consumer sentiment. Inflation eased in May for the second straight month after rising in the first quarter but remains sharply higher than the Federal Reserve’s 2% target.
The consumer price index (CPI) remained unchanged sequentially in May after rising 0.3% in April. Year over year, CPI climbed 3.3%, which was slightly below the consensus estimate of a rise of 3.4%.
Core CPI, which excludes the volatile food and energy prices, rose 0.2% sequentially in May and 3.4% from year-ago levels, both of which came in below the consensus estimate of a rise of 0.3% and 3.5%, respectively.
The Federal Reserve left its benchmark policy rate unchanged in the current range of 5.25-5.5% in its June Federal Open Market Committee (FOMC) meeting after increasing interest rates by 525 basis points since March 2022.
However, Federal Reserve Chairman Jerome Powell, in his post-FOMC statement, said that the central bank sees only one rate cut in 2024, sharply lower than the three projected in its March meeting.
This means higher interest rates are going to stay for a longer period, which is denting consumers’ confidence. In June, consumer confidence declined to 100.4 from a downwardly revised 101.3 in May.
Stocks in Focus
In light of these circumstances, investors looking for steady income and asset protection should consider dividend-paying stocks. These companies are known for their stable performance, regularly distributing dividends, and sustaining profitability through reliable business strategies. In volatile markets, high-dividend stocks generally perform better compared to non-dividend-paying alternatives.
Four such stocks are General Mills, Inc. GIS, Tsakos Energy Navigation Limited TNP, HEICO Corporation HEI and Delta Air Lines, Inc. DAL.
General Mills, Inc. is a global manufacturer and marketer of branded consumer foods sold through retail stores. GIS also serves the foodservice and commercial baking industries. General Mills’ principal product categories include ready-to-eat cereals, convenient meals, snacks (including grain, fruit and savory snacks, nutrition bars, and frozen hot snacks), super-premium ice creams as well as baking mixes and ingredients.
On Jun 26, General Mills declared that its shareholders would receive a dividend of $0.60 a share on Aug 1, 2024. GIS has a dividend yield of 3.51%. Over the past five years, General Mills has increased its dividend four times, and its payout ratio at present sits at 51% of earnings. Check General Mills’ dividend history here.
Tsakos Energy Navigation Limited is a leading provider of international seaborne crude oil and petroleum product transportation services. TNP has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Jun 20, Tsakos Energy Navigation announced that its shareholders would receive a dividend of $0.60 a share on Jul 18, 2024. TNP has a dividend yield of 2.01%. Over the past five years, Tsakos Energy Navigation has increased its dividend four times, and its payout ratio at present sits at 12% of earnings. Check Tsakos Energy Navigation’s dividend history here.
HEICO Corporation is one of the world’s leading manufacturers of Federal Aviation Administration-approved jet engine and aircraft component replacement parts. HEI also manufactures various types of electronic equipment for the aviation, defense, space, medical, telecommunications and electronics industries.
On Jun 20, HEICO announced that its shareholders would receive a dividend of $0.11 a share on Jul 15, 2024. HEI has a dividend yield of 0.09%. Over the past five years, HEICO has increased its dividend four times, and its payout ratio at present sits at 6% of earnings. Check HEICO’s dividend history here.
Delta Air Lines, Inc. is one of the four carriers that together account for 60% of the U.S. aviation market. a DAL, the second airline company to have joined the coveted S&P 500 Index, commands more than 17% share of the domestic market.
On Jun 20, Delta Air Lines declared that its shareholders would receive a dividend of $0.15 a share on Aug 20, 2024. DAL has a dividend yield of 0.82%. Over the past five years, Delta Air Lines has increased its dividend two times, and its payout ratio at present sits at 6% of earnings. Check Delta Air Lines’ dividend history here.
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Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
General Mills, Inc. (GIS) : Free Stock Analysis Report
Tsakos Energy Navigation Ltd (TNP) : Free Stock Analysis Report
Heico Corporation (HEI) : Free Stock Analysis Report
