Six Dividend Machines Boosting Dividends

Cintas Corporation (NASDAQ:CTAS) provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. The company raised its quarterly dividend by 26.70% to $1.33/share. This marked the 34th consecutive annual dividend increase for this dividend champion. Over the past decade, Cintas Corporation (NASDAQ:CTAS) has managed to raise dividends at a rate of 12.60 %/year. The stock is overvalued at 23.10 times forward earnings and yields 1.20%. The stock may be worth a second look on dips below $92/share.

Lincoln Electric Holdings, Inc. (NASDAQ:LECO), through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products in the United States, China, and Internationally. The company raised its quarterly dividend by 9.40% to 35 cents/share. This marked the 22nd consecutive annual dividend increase for this dividend contender. Over the past decade, Lincoln Electric Holdings, Inc. (NASDAQ:LECO) has managed to raise dividends at a rate of12.40 %/year. The stock is overvalued at 20.60 times forward earnings and yields 2.30%. The stock may be worth a second look on dips below $65/share.

Stepan Company (NYSE:SCL), together with its subsidiaries, produces and sells specialty and intermediate chemicals to manufacturers for use in various end products worldwide. It operates in three segments: Surfactants, Polymers, and Specialty Products. The company raised its quarterly dividend by 7.90% to 20.50 cents/share. This marked the 49th consecutive annual dividend increase for this dividend champion. Over the past decade, Stepan Company (NYSE:SCL) has managed to raise dividends at a rate of 6.40 %/year. The stock seems fairly valued at 16.80 times forward earnings and yields 1.10%. I will put the company on my list for further research.

TransMontaigne Partners L.P. (NYSE:TLP) provides integrated terminaling, storage, transportation, and related services. This master limited partnership raised its quarterly distribution to 70 cents/unit. This represents a 5.30% increase over the distribution paid at the same time last year. TransMontaigne Partners L.P. (NYSE:TLP) has rewarded limited partners with a distribution hike for 12 years in a row. Over the past decade, TransMontaigne Partners has managed to raise dividends at a rate of 5 %/year. The MLP currently yields 6.60%.

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