Oil prices are on the rise again, igniting fears that inflation could jump again. Tensions in the Middle East have been escalating and fears have grown that they could continue for a longer period.

Uncertainty over the Federal Reserve’s plans for rate hikes has also kept investors worried. This resulted in consumer confidence hitting a low in August. Markets have stayed volatile for most of July and August and are likely to stay so unless the uncertainties are over.

With market uncertainty continuing, conservative investors seeking reliable income and some protection against market swings may want to look at dividend-paying stocks.

Dividend stocks can provide a steady source of income through regular payouts while potentially offering greater stability when markets become volatile. Here are four dividend stocks worth considering: Phillips Edison & Company, Inc. (PECO Quick QuotePECO - Free Report) , Northrim BanCorp, Inc. (NRIM Quick QuoteNRIM - Free Report) , Nordson Corporation (NDSN Quick QuoteNDSN - Free Report) and Lam Research Corporation (LRCX Quick QuoteLRCX - Free Report) .

Economic Uncertainty Continues

Oil prices eased in June, which saw inflation decline over the past two months. The drop in energy costs came following a temporary ceasefire between the United States and Iran in June.

However, the ceasefire ended in early August and tensions returned to the Middle East, with none of the warring nations showing any inclination toward peace talks and negotiations. Oil prices have surged again over the past few weeks as the United States has intensified attacks on Iran.

Investors fear that growing tensions between the United States and Iran could keep oil prices higher for a longer period, which could result in inflation rising again.

The consumer price index (CPI) climbed 0.1% month over month in July, while the core CPI, which strips out volatile food and energy prices, gained 0.2%.  Year over year, CPI fell to 3.4% in July from 3.5% in the month earlier. Core CPI rose to 2.5% year over year in July, down 0.1% from June.

However, inflation is still sharply higher than the Fed’s 2% target. The Federal Reserve has kept interest rates unchanged this year but has been contemplating a 25-basis-point hike if inflation remains stubbornly high.

These concerns have seen the consumer confidence index fall to 89.4 in August, the lowest level since January, from a downwardly revised 90.2 in the month earlier.

4 Stocks That Recently Announced Dividend Hikes

Phillips Edison & Company

Phillips Edison & Company, Inc. is an owner and operator of omni-channel grocery-anchored neighborhood shopping centers. PECO owns equity interests in real estate properties, including wholly-owned real estate properties and shopping center properties. Phillips Edison & Company has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

On Sept. 1, Phillips Edison & Company announced that its shareholders would receive a dividend of $0.12 a share on Oct. 1. PECO has a dividend yield of 3.31%. Over the past five years, Phillips Edison & Company has increased its dividend six times, and its payout ratio presently sits at 48% of earnings. Check Phillips Edison & Company’s dividend history here.

Northrim BanCorp

Northrim BanCorp, Inc. is a full-service commercial bank that provides a complete range of personal and business banking services. NRIM carries a Zacks Rank #2.

On Aug. 27, Northrim BanCorp declared that its shareholders would receive a dividend of $0.17 a share on Sept. 18. NRIM has a dividend yield of 2.48%. Over the past five years, Northrim BanCorp has increased its dividend eight times, and its payout ratio presently sits at 25% of earnings. Check Northrim BanCorp’s dividend history here.

Nordson Corporation

Nordson Corporation is one of the leading manufacturers as well as distributors of products and systems designed to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids. NDSN’s product line includes single-use components, stand-alone units for low-volume operations and microprocessor-based automated systems for high-speed, high-volume production lines. Nordson Corporation carries a Zacks Rank #2.

On Aug. 27, Nordson Corporation announced that its shareholders would receive a dividend of $0.94 per share on Oct. 2. NDSN has a dividend yield of 1.04%. Over the past five years, Nordson Corporation has increased its dividend five times, and its payout ratio presently sits at 28% of earnings. Check Nordson Corporation’s dividend history here.

Lam Research

Lam Research Corporation supplies wafer fabrication equipment and services to the semiconductor industry. LRCX serves the related markets that rely on semiconductor processes and require production-proven manufacturing capabilities, such as complementary metal-oxide-semiconductor image sensors and micro-electromechanical systems (MEMS). Lam Research holds a strong position in deposition and etch, which address numerous critical steps in the fabrication process with the goal of reducing defect rates, improving yields, lowering costs and reducing processing time. LRCX’s core competencies lie in areas such as nanoscale applications enablement, chemistry, plasma and fluidics, and advanced systems engineering. Lam Research has a Zacks Rank #2.

On Aug. 26, Lam Research declared that its shareholders would receive a dividend of $0.33 per share on Oct. 14. LRCX has a dividend yield of 0.36%. Over the past five years, Lam Research has increased its dividend seven times, and its payout ratio presently sits at 18% of earnings. Check Lam Research’s dividend history here.