Three companies raised their quarterly dividend payouts just last week, which is generally a sign of strength and growing business…
And stocks raising dividends bodes well for investor psyche, giving them more confidence in a company and raising morale, which is important in the market.
So today we’re going to talk about three stocks raising dividends, and an exchange-traded fund that tracks companies raising dividends.
Clorox Co. (NYSE: CLX) is of course a household name here in the United States, and it’s one of the three recent stocks raising dividends. Clorox makes a wide variety of cleaning and food products, everything from Formula 409 cleaning spray to Hidden Valley Ranch dressing.
Clorox raised its quarterly dividend payment 5 cents to $1.11 to $1.16 per share, a little less than 5%. Clorox obviously had a huge move up after the start of the COVID-19 pandemic with such high demand for cleaning products.
CLX was actually one of the few names that didn’t totally crater in February and March 2020, hitting a high of $239 a share in August 2020.
The stock has been in a downtrend after everyone stocked up on cleaning supplies, and then demand started to slow. Earnings in the first quarter were down 14% year over year, and the market knew this would happen so the stock started selling off.
That’s the first name on my list. Check out my short video and let’s discuss two more stocks raising dividends as well as an ETF that tracks all stocks hiking their quarterly payouts.
It’s a brand-new, actively managed fund that seeks dividend growth by selecting U.S.-listed companies its advisers believe to have the greatest potential to provide rising dividends over time — the theory being you buy into strength.
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