Target Corporation (TGT), Lowe’s Companies, Inc. (LOW) & More: 5 Stocks Raising Dividends by Double-Digit Rates

DuPont Fabros

DuPont Fabros Technology, Inc. (NYSE:DFT), a wholesale data centers REIT, recently declared a higher quarterly dividend, raising its payout by 5 cents to 25 cents per share, a 25% increase from the previous quarterly dividend and nearly 67% higher than the quarterly payout in the same period a year ago. With the latest increase, the REIT’s dividend is yielding 4.2% on a payout ratio of 53% of the company’s 2013 FFO guidance midpoint.

The company’s operating strategy has been focused on “constructing large-scale wholesale data centers in Tier 1 markets, leasing up and operating data centers, and maintaining strong balance sheet.” Its performance is supported by solid data center macro fundamentals, characterized by the rise of social media, mobile applications, gaming, and cloud computing, among other things.

The REIT has fee simple ownership and wholesale large tenants with long-term leases that usually stretch over 10 years. In the previous quarter, DuPont Fabros Technology, Inc. (NYSE:DFT) reported adjusted FFO that was 23% higher than a year ago, with the company’s operating portfolio 90% leased. The company’s positive momentum should continue this year, as DuPont Fabros Technology, Inc. (NYSE:DFT) propped up its full-year 2013 guidance.

Final thoughts

Individually, each of the five aforementioned companies may not seem special, but as a unit, they provide any investor solid exposure to dividend paying companies that are being more generous with their pocketbooks of late.  From DuPont Fabros Technology, Inc. (NYSE:DFT)’ REIT adventures to International Game Technology (NYSE:IGT)’s intriguing outlook, we’d pay close attention to the stocks mentioned above. Caterpillar Inc. (NYSE:CAT) and Lowe’s Companies, Inc. (NYSE:LOW) give added exposure to a recovering economy, while Target Corporation (NYSE:TGT)’s lofty sales goals give something else to look forward to. Continue learning about Insider Monkey’s market-beating newsletter here.

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