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3 Stocks to Watch That Recently Announced Dividend Hikes
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The U.S. stock market had a solid first quarter, with all three major indexes hitting new record highs. The S&P rallied 10.2% to record the best first quarter since 2019. The Dow finished the quarter up 5.6%, while the Nasdaq rallied 9.1%.
Also, optimism surrounding rate cuts is high after the Federal Reserve left interest rates unchanged in its current range of 5.25-5.5% in its March FOMC meeting and said that it still plans three interest rate cuts of a quarter percentage point each by the end of this year.
However, markets also turned volatile over the past three months as inflation, which declined sharply over the past year, rose in the first two months of 2024.
This saw investors’ optimism somewhat fading from the January highs. The consumer price index (CPI) rose 0.4% month over month in February, higher than January’s rise of 0.3% and the biggest increase since September 2023. Core PPI also rose 0.4% month over month in February.
Investors were earlier hopeful that the Federal Reserve would go for the first rate cut in March but that didn’t happen as the central bank earlier said that inflation was still sharply higher than its 2% target.
A rate cut is also unlikely in May after inflation rose again in February. Investors are now expecting the first rate cut in June but the Federal Reserve has not given a timeline for the first cut in interest rates.
Stocks in Focus
Given this situation, investors looking to secure their portfolios may find dividend-yielding stocks an excellent choice. We suggest exploring stocks that have recently increased their dividend payments.
ChampionX Corporation provides chemistry solutions and engineered equipment and technologies to companies drilling for and producing oil and gas. CHX’s Chemical Technologies offering consists of chemistry solutions for flowing oil and gas wells as well as chemistry solutions used in drilling and completion activities.
ChampionX’sProduction & Automation Technologies offerings consist of artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps and drive systems and plunger lifts, as well as a full automation and digital offering consisting of equipment and software for Industrial Internet of Things solutions for downhole monitoring, wellsite productivity enhancement and asset integrity management. Drilling Technologies offering provides polycrystalline diamond cutters and bearings.
On Apr 1, ChampionX declared that its shareholders would receive a dividend of $0.10 a share on Apr 26, 2024. CHX has a dividend yield of 0.96%. Over the past five years, ChampionX has increased its dividend two times, and its payout ratio at present sits at 20% of earnings.Check ChampionX’s dividend history here.
Sapiens International Corporation N.V. is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Serving as consultants and advisors, SPNS works with companies to analyze their current systems and develop a blueprint for aligning technology with business goals. Sapiens has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Mar 25, Sapiens International Corporationannounced that its shareholders would receive a dividend of $0.28 a share on Apr 18, 2024. SPNS has a dividend yield of 1.63%. Over the past five years, Sapiens International Corporationhas increased its dividend six times, and its payout ratio at present sits at 41% of earnings.Check Sapiens International Corporation's dividend history here.
NewtekOne, Inc. is a financial holding company, which, along with its bank and non-bank consolidated subsidiaries, provides a wide range of business and financial solutions under the Newtek brand to the small- and medium-sized business market.
On Mar 18, NewtekOnedeclared that its shareholders would receive a dividend of $0.19 a share on Apr 15, 2024. NEWT has a dividend yield of 6.66%. Over the past five years, NewtekOnehas increased its dividend 12 times, and its payout ratio at present sits at 44% of earnings. Check NewtekOne’s dividend history here.
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3 Stocks to Watch That Recently Announced Dividend Hikes
The U.S. stock market had a solid first quarter, with all three major indexes hitting new record highs. The S&P rallied 10.2% to record the best first quarter since 2019. The Dow finished the quarter up 5.6%, while the Nasdaq rallied 9.1%.
Also, optimism surrounding rate cuts is high after the Federal Reserve left interest rates unchanged in its current range of 5.25-5.5% in its March FOMC meeting and said that it still plans three interest rate cuts of a quarter percentage point each by the end of this year.
However, markets also turned volatile over the past three months as inflation, which declined sharply over the past year, rose in the first two months of 2024.
This saw investors’ optimism somewhat fading from the January highs. The consumer price index (CPI) rose 0.4% month over month in February, higher than January’s rise of 0.3% and the biggest increase since September 2023. Core PPI also rose 0.4% month over month in February.
Investors were earlier hopeful that the Federal Reserve would go for the first rate cut in March but that didn’t happen as the central bank earlier said that inflation was still sharply higher than its 2% target.
A rate cut is also unlikely in May after inflation rose again in February. Investors are now expecting the first rate cut in June but the Federal Reserve has not given a timeline for the first cut in interest rates.
Stocks in Focus
Given this situation, investors looking to secure their portfolios may find dividend-yielding stocks an excellent choice. We suggest exploring stocks that have recently increased their dividend payments.
Three such stocks are ChampionX Corporation (CHX - Free Report) , Sapiens International Corporation N.V. (SPNS - Free Report) and NewtekOne, Inc. (NEWT - Free Report) .
ChampionX Corporation provides chemistry solutions and engineered equipment and technologies to companies drilling for and producing oil and gas. CHX’s Chemical Technologies offering consists of chemistry solutions for flowing oil and gas wells as well as chemistry solutions used in drilling and completion activities.
ChampionX’sProduction & Automation Technologies offerings consist of artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps and drive systems and plunger lifts, as well as a full automation and digital offering consisting of equipment and software for Industrial Internet of Things solutions for downhole monitoring, wellsite productivity enhancement and asset integrity management. Drilling Technologies offering provides polycrystalline diamond cutters and bearings.
On Apr 1, ChampionX declared that its shareholders would receive a dividend of $0.10 a share on Apr 26, 2024. CHX has a dividend yield of 0.96%. Over the past five years, ChampionX has increased its dividend two times, and its payout ratio at present sits at 20% of earnings.Check ChampionX’s dividend history here.
Sapiens International Corporation N.V. is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Serving as consultants and advisors, SPNS works with companies to analyze their current systems and develop a blueprint for aligning technology with business goals. Sapiens has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Mar 25, Sapiens International Corporationannounced that its shareholders would receive a dividend of $0.28 a share on Apr 18, 2024. SPNS has a dividend yield of 1.63%. Over the past five years, Sapiens International Corporationhas increased its dividend six times, and its payout ratio at present sits at 41% of earnings.Check Sapiens International Corporation's dividend history here.
NewtekOne, Inc. is a financial holding company, which, along with its bank and non-bank consolidated subsidiaries, provides a wide range of business and financial solutions under the Newtek brand to the small- and medium-sized business market.
On Mar 18, NewtekOnedeclared that its shareholders would receive a dividend of $0.19 a share on Apr 15, 2024. NEWT has a dividend yield of 6.66%. Over the past five years, NewtekOnehas increased its dividend 12 times, and its payout ratio at present sits at 44% of earnings. Check NewtekOne’s dividend history here.