Last year, Chevron Corporation (NYSE:CVX) also released news of its higher dividend on April 25, with a big 11% boost continuing a run of accelerated growth in recent years. A similar increase this year would take the payout to an even $1 per share quarterly, and like Exxon, Chevron Corporation (NYSE:CVX)’s current payout ratio of 26% would make that increase perfectly viable.
Johnson & Johnson (NYSE:JNJ)
Johnson & Johnson has a similar history of popular consumer products as Procter & Gamble, with J&J’s focus being on health-care needs such as Band-Aids. Yet unlike P&G, Johnson & Johnson goes well beyond the consumer realm, making medical devices as well as brand-name pharmaceuticals. Product recalls both in the consumer arena and with hip implants over the past several years have led to questions about the company’s quality control, but the company has survived past problems of the same type and should be able to again.
J&J has a 50-year history of raising its dividends every year, and last year, it made its move on April 26. If it were to repeat its boost of 7% from last year, investors could expect $0.65 per share quarterly from the health-care conglomerate in its next dividend payment.
Get the dividends you need
The Dow is a great place for income-seeking investors to get strong dividend stocks. By focusing not just on yield but also on a demonstrated commitment from a company to let shareholders participate in a company’s growth through rising payouts, the companies above have deservedly earned their reputation as some of the best dividend stocks you can buy.
The article These Dow Stocks Will Boost Their Dividends Soon originally appeared on Fool.com and is written by Dan Caplinger.
Fool contributor Dan Caplinger has no position in any stocks mentioned. You can follow him on Twitter: @DanCaplinger. The Motley Fool recommends Chevron, Johnson & Johnson, and Procter & Gamble and owns shares of Johnson & Johnson.
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