Target, Caterpillar, and 3 More Stocks Getting Higher Dividends

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Target is raising its quarterly dividend by 20%.

Justin Sullivan/Getty Images

Caterpillar

were among the U.S. companies that declared dividend increases this week.

Target (ticker:

TGT

) said it plans to raise its quarterly disbursement to $1.08 a share, a 20% increase from 90 cents. The national retailer’s stock, which yields 2.9%, had returned about minus 33% this year, dividends included, through June 9. That compares with a return of minus 15% for the

S&P 500
.

Target reported disappointing fiscal first-quarter earnings last month, causing the stock to plunge about 25% on May 18. So the impending dividend increase gives investors some solace. The company is on track to increase its annual dividend for the 51st straight year.

Target is a member of the S&P 500 Dividend Aristocrats Index, whose constituents have paid out a higher dividend for at least 25 straight years.

Caterpillar (CAT) said it plans to boost its quarterly dividend to $1.20 a share. That’s an 8% increase from $1.11 a share. The stock, which has returned about 9% this year, yields 2.2%.

Caterpillar’s products include construction and mining equipment. Caterpillar belongs to the S&P 500 Dividend Aristocrats Index as well.

UnitedHealth Group

(UNH) said it plans to hike its quarterly payout to $1.65 a share, up by about 14% from $1.45 a share. The stock, which yields 1.4%, has returned about minus 2% this year.

PPL

(

PPL

), a utility holding company based in Allentown, Pa., declared a quarterly dividend of 22.5 cents a share, up 12.5% from 20 cents.

The stock, which yields 3.2%, has returned about minus 2% year to date.

Casey’s General Stores

(CASY) declared a quarterly dividend of 38 cents a share, up by 3 cents, or nearly 9%, from 35 cents. It marks the 23rd straight annual dividend increase.

The company operates convenience stores and gas stations across the Midwest and parts of the south and the Great Plains. The stock has returned about minus 2% this year, and it was recently yielding 0.8%.

Write to Lawrence C. Strauss at lawrence.strauss@barrons.com