These 5 Companies Recently Increased Their Dividends

2. Regions Financial Corporation (NYSE:RF)

Dividend Yield as of July 21: 3.35%

Regions Financial Corporation (NYSE:RF) is an American bank holding company that provides services related to saving, mortgages, and investing.

Regions Financial Corporation (NYSE:RF) has been a dividend-payer for the past 32 years and has raised its payouts consecutively for 9 years. In 2017, the company grew its dividends twice, when the Feds raised the interest rates. In Q2 2022, it paid $159 million in dividends to shareholders and also repurchased 1 million shares of common stock, valued at over $15 million. On July 20, Regions Financial Corporation (NYSE:RF) hiked its quarterly dividend by 18% to $0.20 per share. As of July 21, the stock’s dividend yield stood at 3.35%.

In July upgraded Regions Financial Corporation (NYSE:RF) to Buy with a $23 price target, due to the company’s maintenance of its portfolio and balance sheet.

At the end of Q1 2022, 30 hedge funds tracked by Insider Monkey reported owning stakes in Regions Financial Corporation (NYSE:RF), worth $221.6 million. In the previous quarter, 32 hedge funds held stakes in the company, valued at $202.6 million.