In this article, we will be taking a look at 10 dividend stocks that have doubled their payouts. To skip our detailed analysis of dividend investing, you can go directly to see the 5 Dividend Stocks That Have Doubled Their Payouts.
Perhaps to signal confidence in their financial strength in the aftermath of the crippling coronavirus pandemic, many companies this year have announced impressive dividend hikes right as the market began recuperating. Dividend stocks like AbbVie Inc. (NYSE:ABBV), Medtronic plc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ), and the Procter & Gamble Company (NYSE:PG) are typically considered good investment options for those looking for a stable income especially in trying financial times.
Thus, when massive dividend hikes are added onto the existing benefits of dividend stocks, they become hard to resist for income investors and hedge funds alike. With the steadily improving market condition and economic situation of companies in general, it is unsurprising that dividend increases and impressive hikes of a minimum of 100%, at least for all the stocks mentioned below, are being announced consecutively. Share buyback programs alongside dividend payouts are mainly sustained by good cash flows, allowing for the above correlation to be drawn.
According to a CNBC article from this November, it’s expected that S&P 500 companies will end up reaching record highs in terms of cash dividends paid out to stakeholders in 2021. When compared to the past four years, we see that as of November 2021, S&P 500 companies had already crossed previous years’ records in dividend payments. About $522 billion were reported to have been spent in dividends this year, according to the S&P Dow Jones Indices.
Photo by Viacheslav Bublyk on Unsplash
Without further ado, let’s take a look at the 10 dividend stocks that have doubled their payouts.
Our Methodology
We have picked stocks that announced dividend hikes in 2021, with each stock having a minimum hike of 100% and many having even higher raises. We have also used analysts’ ratings to determine which stocks are favorably placed in analyst and investor circles, picking stocks with mostly positive ratings and strong fundamentals.
Dividend Stocks That Have Doubled Their Payouts
10. Geopark Ltd (NYSE:GPRK)
Number of Hedge Fund Holders: 10
Dividend Yield: 1.4%
Geopark Ltd (NYSE:GPRK) is an energy company that deals with oil and gas reserves in Chile, Colombia, Brazil, Argentina, Peru, and Ecuador. The company has net proved reserves of 124 million barrels of oil equivalent. In August, it doubled its quarterly dividend payout, and as of this November, its yield is 1.4%, making it one of the best dividend stocks that have doubled their payouts this year.
In the third quarter of 2021, Geopark Ltd (NYSE:GPRK) had an EPS of $0.48, beating estimates by $0.03. The company’s revenue was $174 million. Geopark Ltd (NYSE:GPRK) has gained 9% in the past year.
By the end of the third quarter of 2021, 10 hedge funds out of the 867 tracked by Insider Monkey held stakes in Geopark Ltd (NYSE:GPRK) worth roughly $80.5 million. This is compared to 10 hedge funds in the previous quarter with a total stake value of approximately $79.2 million.
Like AbbVie Inc. (NYSE:ABBV), Medtronic plc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ), and the Procter & Gamble Company (NYSE:PG), Geopark Ltd (NYSE:GPRK) is a noteworthy dividend stock to consider.
9. Advance Auto Parts, Inc. (NYSE:AAP)
Number of Hedge Fund Holders: 35
Dividend Yield: 1.8%
Advance Auto Parts, Inc. (NYSE:AAP) is an automotive-replacement parts, accessories, batteries, and maintenance items provider. It mainly offers products for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company hiked its dividend this year by a whopping 300%, bringing its yield up to 1.8% as of this November. As such, it is among the most noteworthy dividend stocks that have doubled their payout.
This November, Raymond James analyst Bobby Griffin reiterated a Buy rating on shares of Advance Auto Parts, Inc. (NYSE:AAP). The analyst also raised his price target on the stock to $275.
The fiscal third quarter of 2021 showed an EPS of $3.21, beating estimates by $0.36, for Advance Auto Parts, Inc. (NYSE:AAP). The company’s revenue was $2.62 billion, up 3.12% year over year and beating estimates by $36.66 million.
According to our data, 35 hedge funds held stakes in Advance Auto Parts, Inc. (NYSE:AAP) in the third quarter, worth $899 million.
8. United Microelectronics Corp (NYSE:UMC)
Number of Hedge Fund Holders: 13
Dividend Yield: 2%
United Microelectronics Corp (NYSE:UMC) is an information technology company operating as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, the US, Europe, and internationally. The company offers services such as circuit design, mask tooling, wafer fabrication, and assembly and testing. In July, the company raised its dividend by 110%.
In the third quarter, United Microelectronics Corp’s (NYSE:UMC) revenue was $2 billion, beating estimates by $43.53 million.
Insider Monkey’s data shows 13 hedge funds holding stakes in United Microelectronics Corp (NYSE:UMC) in the third quarter, worth $151 million. In the second quarter, 10 hedge funds were long this stock, with stakes valued at $141 million.
Like AbbVie Inc. (NYSE:ABBV), Medtronic plc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ), and the Procter & Gamble Company (NYSE:PG), United Microelectronics Corp (NYSE:UMC) is a dividend stock elite investors are eyeing today.
7. SLM Corp (NASDAQ:SLM)
Number of Hedge Fund Holders: 27
Dividend Yield: 2.5%
SLM Corp (NASDAQ:SLM) is a consumer finance company that originates and services private education loans to students and their families to help fund education costs in the US. The company is based in Newark, and raised its dividend by 267% this year, bringing its yield up to 2.5% as of November.
The company’s earnings history shows an EPS of $0.24, beating estimates by $0.09, in the fiscal third quarter of 2021. Its revenue was $357.52 million, beating estimates by $14.99 million.
The third quarter showed 27 hedge funds holding stakes in SLM Corp (NASDAQ:SLM), worth $891 million. Comparatively, the second quarter had 27 hedge funds holding stakes in the company as well, worth $1.1 billion.
Like AbbVie Inc. (NYSE:ABBV), Medtronic plc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ), and the Procter & Gamble Company (NYSE:PG), SLM Corp (NASDAQ:SLM) is a dividend stock many investors are piling into.
6. Trinseo S.A. (NYSE:TSE)
Number of Hedge Fund Holders: 12
Dividend Yield: 2.6%
Trinseo S.A. (NYSE:TSE) is a manufacturing company operating globally in the materials sector. It focuses on manufacturing plastics, latex, and synthetic rubber. The company raised its dividend by 300% this year, bringing its yield up to 2.6% as of this November. The company is thus one of the best dividend stocks that have doubled their payout.
According the Trinseo S.A.’s (NYSE:TSE) earnings history and fiscal third quarter of 2021 earnings report, it had an EPS of $2.01 for that quarter. The company’s revenue was $1.27 billion, up 68.73% year over year and beating estimates by 75.39% as well.
Insider Monkey’s hedge fund data shows 12 hedge funds holding stakes in Trinseo S.A. (NYSE:TSE) in the third quarter, worth $29 million. In the second quarter, 17 hedge funds held stakes in the company worth $41.4 million.
Click to continue reading and see 5 Dividend Stocks That Have Doubled Their Payouts.
Suggested articles:
- 15 Best Security Stocks to Buy Now
- 10 Best Vanguard Stocks to Buy Now
- 10 Best Dividend Stocks to Buy According to Billionaire Howard Marks
Disclosure: None. 10 Dividend Stocks That Have Doubled Their Payouts is originally published on Insider Monkey.
