5 Dividend Stocks That Raised Their Dividends in 2022

1. S&P Global Inc. (NYSE:SPGI)

Number of Hedge Fund Holders: 84
Dividend Yield as of September 20: 1.00%

S&P Global Inc. (NYSE:SPGI) is an American multinational company that specializes in financial information and analytics. As the company reported strong results in its recent quarter, Oppenheimer lifted its price target on the stock to $419 with an Outperform rating on the shares. The firm also sees the company as an attractive buying opportunity for income investors.

S&P Global Inc. (NYSE:SPGI) has been making uninterrupted dividend payments since 1937. In March, the company raised its quarterly dividend to $0.85 to share, presenting a 10.5% increase from its previous dividend of $0.77 per share. The company holds a 49-year run of raising its dividends consistently. As of September 20, the stock’s dividend yield stood at 1.00%.

As of the close of Q2 2022, 84 hedge funds owned stakes in S&P Global Inc. (NYSE:SPGI), down from 97 in the previous quarter. These stakes hold a collective value of over $7.2 billion.

Baron Funds mentioned S&P Global Inc. (NYSE:SPGI) in its Q2 2022 investor letter. Here is what the firm has to say:

“Another example is S&P Global (NYSE:SPGI), the leading rating agency and data provider, whose stock declined 29.0% year-to-date and 17.5% during the second quarter as a result of growing investor concerns over the slowdown in debt issuance. While debt issuance volumes have seen a dramatic decline – the worst quarterly decline in a decade (down 41% year-over-year in the second quarter based on Goldman Sachs estimates), – and this led management to withdraw its 2022 guidance in early June, we do not believe it would result in a permanent loss of capital.

First, ratings represent only about 30% of S&P Global’s total revenues. Second, despite inherent volatility in quarterly or annual issuance, over the long-term issuance volumes follow the trends in levels of debt outstanding, which has compounded in the mid-single digits for many years. Lastly, we believe that S&P Global’s strong competitive positioning will enable it to continue benefiting from pricing power, while taking advantage of secular tailwinds such as the growth in passive and ESG investing, international expansion, and the growing demand for data analytics.”

You can also take a look at 10 Best Cheap DRIP Stocks to Buy Now and 10 High-Yield Dividend Stocks for Stable Income

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