These 3 Dividend Stocks Increased Payouts By 10%+ This Quarter

Several companies have recently announced substantial increases in their dividends, reflecting their strong financial health and commitment to returning value to shareholders. These three companies raised dividends by 10% or more, giving their investors a significant raise. 

Marriott International

Marriott International, Inc. MAR operates a vast portfolio of nearly 8,900 properties under more than 30 brands across 141 countries and territories. 

On May 10, Marriott announced a 21.2% increase in its quarterly dividend to $0.63 per share, or $2.52 annually, yielding 1.08%. 

In addition to the dividend hike, Marriott has been actively repurchasing shares, buying back 4.8 million shares for $1.2 billion in Q1/24. 

Over the last twelve months, Marriott reported $6.37 billion in revenue and $2.89 billion in net income.

Sylvamo Corporation 

Sylvamo Corporation SLVM is a global producer and marketer of uncoated freesheet paper, catering to markets in Latin America, Europe, and North America. 

On May 17, Sylvamo announced a significant 50% hike in its quarterly dividend, raising it to $0.45 per share, or $1.80 annually. The dividend, yielding 2.56%, will be payable on July 29 to stockholders of record on July 8. 

Sylvamo’s stock has surged over 44% year-to-date. It has consistently beaten consensus EPS estimates for the last three quarters. Over the past year, the company reported $3.68 billion in revenue and $199 million in net income.

Paychex

Paychex, Inc. PAYX provides integrated human capital management solutions, including HR, payroll, benefits, and insurance services for small to medium-sized businesses in the U.S., Europe, and India. 

On May 1, Paychex announced a 10.1% increase in its quarterly dividend, bringing it to $0.98 per share, or $3.92 annually, yielding 3.21%. 

The company has maintained dividend payments for 37 consecutive years and raised them for the past 10 years. 

Over the last twelve months, Paychex generated $5.21 billion in revenue and $1.66 billion in net income.

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