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5 Stocks With Recent Dividend Hike for a Stable Portfolio
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Wall Street wrapped up 2022 as the worst year since 2008, terminating a three-year winning streak. Major stock indexes suffered a bloody blow last year.
Inflation is stuck at its 40-year high level due to the pandemic-led destruction of the global supply-chain system and strong demand from U.S. citizens due to unprecedented fiscal and monetary stimuli in the pandemic-ridden years.
Moreover, aggressive interest rate hikes by major central banks led by the Fed, lockdown in China due to the resurgence of COVID-19 infections and geopolitical conflict between Russia and Ukraine rattled the global financial world last year.
U.S. stock markets started 2023 with regular fluctuations. Volatility is likely to continue in the near-term as market participants will keenly watch the major economic data of December 2022. Moreover, the next FOMC meeting of the Fed will start on Feb 1, which would lead the foundation of the central bank’s policies for 2023.
Stocks in Focus
At this stage, dividend-paying stocks should be in demand as investors will try to safeguard their portfolio. We believe that one should consider stocks that have recently raised their dividend payments. Five such companies are Luxfer Holdings plc (LXFR - Free Report) , Bank OZK (OZK - Free Report) , Alamo Group Inc. (ALG - Free Report) , TD SYNNEX Corp. (SNX - Free Report) and Lakeland Financial Corp.(LKFN - Free Report) .
Luxfer Holdings is a materials technology company specializing in the design, manufacture and supply of high-performance materials, components and gas cylinders. LXFR has two divisions, Elektron and Gas Cylinders. The Elektron division focuses on specialty materials based on magnesium, zirconium and rare earths. The Gas Cylinders division manufactures products made from aluminum, composites and other metals using technically advanced processes.
On Jan 3, 2023, Luxfer Holdings declared that its shareholders would receive a dividend of $0.13 per share on Feb 1, 2023. It has a dividend yield of 3.6%. Over the past 5 years, LXFR has increased its dividend two times, and its payout ratio presently stays at 41% of earnings. Check LXFR’s dividend history here.
Bank OZK provides various retail and commercial banking services. OZK accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. OZK also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government-guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
On Jan 3, 2023, Bank OZK declared that its shareholders would receive a dividend of $0.34 per share on Jan 24, 2023. It has a dividend yield of 3.4%. Over the past 5 years, OZK has increased its dividend 21 times, and its payout ratio presently stays at 29% of earnings. Check OZK’s dividend history here.
Alamo Group designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. ALG’s Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.
ALG’s Industrial Equipment Division segment offers truck-mounted air vacuum, mechanical broom, and regenerative air sweepers, pothole patchers, leaf collection equipment and replacement brooms, parking lot and street sweepers, excavators, catch basin cleaners, and roadway debris vacuum systems, as well as truck-mounted vacuum machines, combination sewer cleaners, and hydro excavators.
On Jan 3, 2023, Alamo Group declared that its shareholders would receive a dividend of $0.22 per share on Feb 1, 2023. It has a dividend yield of 0.6%. Over the past 5 years, ALG has increased its dividend five times, and its payout- ratio presently stays at 9% of earnings. Check ALG’s dividend history here.
TD SYNNEX provides a comprehensive range of distribution, logistics and integration services for the technology industry and outsourced services focused on customer engagement to a broad range of enterprises. SNX operates in numerous countries across North and South America, Europe and Asia-Pacific.
On Jan 10, 2023, TD SYNNEX declared that its shareholders would receive a dividend of $0.35 per share on Jan 27, 2023. It has a dividend yield of 1.3%. Over the past 5 years, SNX has increased its dividend six times, and its payout ratio presently stays at 11% of earnings. Check SNX’s dividend history here.
Lakeland Financial operates as the bank holding company for Lake City Bank that provides various banking products and services. LKFN accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. LKFN’s loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans. Lakeland Financial carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Jan 11, 2023, Lakeland Financial declared that its shareholders would receive a dividend of $0.46 per share on Feb 6, 2023. It has a dividend yield of 2.5%. Over the past 5 years, LKFN has increased its dividend six times, and its payout ratio presently stays at 40% of earnings. Check LKFN’s dividend history here.
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5 Stocks With Recent Dividend Hike for a Stable Portfolio
Wall Street wrapped up 2022 as the worst year since 2008, terminating a three-year winning streak. Major stock indexes suffered a bloody blow last year.
Inflation is stuck at its 40-year high level due to the pandemic-led destruction of the global supply-chain system and strong demand from U.S. citizens due to unprecedented fiscal and monetary stimuli in the pandemic-ridden years.
Moreover, aggressive interest rate hikes by major central banks led by the Fed, lockdown in China due to the resurgence of COVID-19 infections and geopolitical conflict between Russia and Ukraine rattled the global financial world last year.
U.S. stock markets started 2023 with regular fluctuations. Volatility is likely to continue in the near-term as market participants will keenly watch the major economic data of December 2022. Moreover, the next FOMC meeting of the Fed will start on Feb 1, which would lead the foundation of the central bank’s policies for 2023.
Stocks in Focus
At this stage, dividend-paying stocks should be in demand as investors will try to safeguard their portfolio. We believe that one should consider stocks that have recently raised their dividend payments. Five such companies are Luxfer Holdings plc (LXFR - Free Report) , Bank OZK (OZK - Free Report) , Alamo Group Inc. (ALG - Free Report) , TD SYNNEX Corp. (SNX - Free Report) and Lakeland Financial Corp.(LKFN - Free Report) .
Luxfer Holdings is a materials technology company specializing in the design, manufacture and supply of high-performance materials, components and gas cylinders. LXFR has two divisions, Elektron and Gas Cylinders. The Elektron division focuses on specialty materials based on magnesium, zirconium and rare earths. The Gas Cylinders division manufactures products made from aluminum, composites and other metals using technically advanced processes.
On Jan 3, 2023, Luxfer Holdings declared that its shareholders would receive a dividend of $0.13 per share on Feb 1, 2023. It has a dividend yield of 3.6%. Over the past 5 years, LXFR has increased its dividend two times, and its payout ratio presently stays at 41% of earnings. Check LXFR’s dividend history here.
Luxfer Holdings PLC Dividend Yield (TTM)
Luxfer Holdings PLC dividend-yield-ttm | Luxfer Holdings PLC Quote
Bank OZK provides various retail and commercial banking services. OZK accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits.
OZK also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government-guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
On Jan 3, 2023, Bank OZK declared that its shareholders would receive a dividend of $0.34 per share on Jan 24, 2023. It has a dividend yield of 3.4%. Over the past 5 years, OZK has increased its dividend 21 times, and its payout ratio presently stays at 29% of earnings. Check OZK’s dividend history here.
Bank OZK Dividend Yield (TTM)
Bank OZK dividend-yield-ttm | Bank OZK Quote
Alamo Group designs, manufactures, distributes, and services vegetation management and infrastructure maintenance equipment for governmental, industrial, and agricultural uses worldwide. ALG’s Vegetation Management Division segment offers hydraulically-powered and tractor-mounted mowers, other cutters and replacement parts for heavy-duty and intensive uses and heavy duty applications, tractor- and truck-mounted mowing and vegetation maintenance equipment, and replacement parts.
ALG’s Industrial Equipment Division segment offers truck-mounted air vacuum, mechanical broom, and regenerative air sweepers, pothole patchers, leaf collection equipment and replacement brooms, parking lot and street sweepers, excavators, catch basin cleaners, and roadway debris vacuum systems, as well as truck-mounted vacuum machines, combination sewer cleaners, and hydro excavators.
On Jan 3, 2023, Alamo Group declared that its shareholders would receive a dividend of $0.22 per share on Feb 1, 2023. It has a dividend yield of 0.6%. Over the past 5 years, ALG has increased its dividend five times, and its payout- ratio presently stays at 9% of earnings. Check ALG’s dividend history here.
Alamo Group, Inc. Dividend Yield (TTM)
Alamo Group, Inc. dividend-yield-ttm | Alamo Group, Inc. Quote
TD SYNNEX provides a comprehensive range of distribution, logistics and integration services for the technology industry and outsourced services focused on customer engagement to a broad range of enterprises. SNX operates in numerous countries across North and South America, Europe and Asia-Pacific.
On Jan 10, 2023, TD SYNNEX declared that its shareholders would receive a dividend of $0.35 per share on Jan 27, 2023. It has a dividend yield of 1.3%. Over the past 5 years, SNX has increased its dividend six times, and its payout ratio presently stays at 11% of earnings. Check SNX’s dividend history here.
TD SYNNEX Corp. Dividend Yield (TTM)
TD SYNNEX Corp. dividend-yield-ttm | TD SYNNEX Corp. Quote
Lakeland Financial operates as the bank holding company for Lake City Bank that provides various banking products and services. LKFN accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.
LKFN’s loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans. Lakeland Financial carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Jan 11, 2023, Lakeland Financial declared that its shareholders would receive a dividend of $0.46 per share on Feb 6, 2023. It has a dividend yield of 2.5%. Over the past 5 years, LKFN has increased its dividend six times, and its payout ratio presently stays at 40% of earnings. Check LKFN’s dividend history here.
Lakeland Financial Corporation Dividend Yield (TTM)
Lakeland Financial Corporation dividend-yield-ttm | Lakeland Financial Corporation Quote