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Looking for Yield? 4 Stocks Announce Dividend Hikes
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Wall Street has resumed its rally as investors are trying to move on from the panic selling earlier this month, sparked by recession fears. The recent rally is being fueled by a spate of positive economic data and the Federal Reserve’s indication that rate cuts are on the horizon.
However, inflation continues to be the biggest threat to the economy as it is still above the Fed’s 2% target, which could keep markets volatile for a longer period. Given this situation, prudent investors seeking regular income and capital preservation might consider staying invested in or purchasing dividend stocks. Four such stocks are Napco Security Technologies, Inc. (NSSC - Free Report) , Northrim BanCorp, Inc. (NRIM - Free Report) , Intuit Inc. (INTU - Free Report) and SS&C Technologies Holdings, Inc. (SSNC - Free Report) .
Interest Rate Cut on the Horizon
It has been a great year for Wall Street after an impressive 2023. Year to date, the Dow, the S&P 500 and the Nasdaq have gained 9.5%, 18% and 18.3%, respectively. Inflation has shown signs of cooling over the past quarter.
The consumer price index (CPI) rose a meager 0.2% sequentially in July, which came in line with analysts’ expectations.
On a year-over-year basis, CPI climbed 2.9%, lower than the consensus estimate of a rise of 3% and the lowest since March 2021. Core CPI, which excludes the volatile food and energy prices, also rose 0.2% month over month in July.
The Federal Reserve now believes that inflation is declining sharply and it could go ahead with its planned rate cuts. Last week, Fed Chairman Jerome Powell also indicated during his speech at Jackson Hole, WY, that rate cuts are on the horizon.
Although Powell didn’t say when or how big the rate cuts would be, his comments gave investors’ confidence a boost.
Crisis Period Still Not Over
Although inflation has been declining steadily, it is still above the Federal Reserve’s 2% target and central bank officials will keep a close watch on the situation after the first rate cut, which is likely to happen in September.
Also, the U.S. Presidential election is approaching in November, which could play a major role in market movements.
Stocks That Recently Declared Dividend Hikes
It would thus be ideal to invest in dividend stocks. These companies, with their well-established operations, consistently pay dividends and maintain profitability due to their reliable business models. In a highly volatile market, companies that offer high dividend payouts often outperform those that do not pay dividends.
Napco Security Technologies, Inc. is engaged in the development, manufacture, distribution and sale of security alarm products and door security devices for commercial and residential installations. NSSC has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Aug. 26, Napco Security Technologies announced that its shareholders would receive a dividend of $0.13 a share on Oct. 3, 2024. NSSC has a dividend yield of 0.84%. Over the past five years, Napco Security Technologieshas increased its dividend three times, and its payout ratio at present sits at 32% of earnings.Check Napco Security Technologies’ dividend history here.
NAPCO Security Technologies, Inc. Dividend Yield (TTM)
Northrim BanCorp, Inc. is a full-service commercial bank that provides a full range of personal and business banking services. NRIM has a Zacks Rank #2 (Buy).
On Aug. 22, Northrim BanCorp declared that its shareholders would receive a dividend of $0.62 a share on Sept. 13, 2024. NRIM has a dividend yield of 3.60%. Over the past five years, Northrim BanCorphas increased its dividend 10 times, and its payout ratio at present sits at 42% of earnings.Check Northrim BanCorp’s dividend history here.
Intuit Inc. is a business and financial software company that develops and sells financial, accounting and tax preparation software and related services for small businesses, consumers and accounting professionals globally. INTU has offices in the United States, Canada, India, the United Kingdom, Singapore, Australia, and other locations. Intuit carries a Zacks Rank #3.
On Aug. 22, Intuit announced that its shareholders would receive a dividend of $1.04 a share on Oct. 18, 2024. INTU has a dividend yield of 0.58%. Over the past five years, Intuit has increased its dividend six times, and its payout ratio at present sits at 31% of earnings.Check Intuit’s dividend history here.
SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. SSNC provides a broad range of specialized software, software-enabled services and software-as-a-service or SaaS solutions for operational excellence. SS&C Technologies Holdings has a Zacks Rank #3.
On Aug. 21, SS&C Technologies Holdings declared that its shareholders would receive a dividend of $0.25 a share on Sept. 16, 2024. SSNC has a dividend yield of 1.29%. Over the past five years, SS&C Technologies Holdings has increased its dividend six times, and its payout ratio at present sits at 22% of earnings.Check SS&C Technologies Holdings’ dividend history here.
SS&C Technologies Holdings, Inc. Dividend Yield (TTM)
Image: Bigstock
Looking for Yield? 4 Stocks Announce Dividend Hikes
Wall Street has resumed its rally as investors are trying to move on from the panic selling earlier this month, sparked by recession fears. The recent rally is being fueled by a spate of positive economic data and the Federal Reserve’s indication that rate cuts are on the horizon.
However, inflation continues to be the biggest threat to the economy as it is still above the Fed’s 2% target, which could keep markets volatile for a longer period. Given this situation, prudent investors seeking regular income and capital preservation might consider staying invested in or purchasing dividend stocks. Four such stocks are Napco Security Technologies, Inc. (NSSC - Free Report) , Northrim BanCorp, Inc. (NRIM - Free Report) , Intuit Inc. (INTU - Free Report) and SS&C Technologies Holdings, Inc. (SSNC - Free Report) .
Interest Rate Cut on the Horizon
It has been a great year for Wall Street after an impressive 2023. Year to date, the Dow, the S&P 500 and the Nasdaq have gained 9.5%, 18% and 18.3%, respectively. Inflation has shown signs of cooling over the past quarter.
The consumer price index (CPI) rose a meager 0.2% sequentially in July, which came in line with analysts’ expectations.
On a year-over-year basis, CPI climbed 2.9%, lower than the consensus estimate of a rise of 3% and the lowest since March 2021. Core CPI, which excludes the volatile food and energy prices, also rose 0.2% month over month in July.
The Federal Reserve now believes that inflation is declining sharply and it could go ahead with its planned rate cuts. Last week, Fed Chairman Jerome Powell also indicated during his speech at Jackson Hole, WY, that rate cuts are on the horizon.
Although Powell didn’t say when or how big the rate cuts would be, his comments gave investors’ confidence a boost.
Crisis Period Still Not Over
Although inflation has been declining steadily, it is still above the Federal Reserve’s 2% target and central bank officials will keep a close watch on the situation after the first rate cut, which is likely to happen in September.
Also, the U.S. Presidential election is approaching in November, which could play a major role in market movements.
Stocks That Recently Declared Dividend Hikes
It would thus be ideal to invest in dividend stocks. These companies, with their well-established operations, consistently pay dividends and maintain profitability due to their reliable business models. In a highly volatile market, companies that offer high dividend payouts often outperform those that do not pay dividends.
Napco Security Technologies, Inc. is engaged in the development, manufacture, distribution and sale of security alarm products and door security devices for commercial and residential installations. NSSC has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On Aug. 26, Napco Security Technologies announced that its shareholders would receive a dividend of $0.13 a share on Oct. 3, 2024. NSSC has a dividend yield of 0.84%. Over the past five years, Napco Security Technologieshas increased its dividend three times, and its payout ratio at present sits at 32% of earnings.Check Napco Security Technologies’ dividend history here.
NAPCO Security Technologies, Inc. Dividend Yield (TTM)
NAPCO Security Technologies, Inc. dividend-yield-ttm | NAPCO Security Technologies, Inc. Quote
Northrim BanCorp, Inc. is a full-service commercial bank that provides a full range of personal and business banking services. NRIM has a Zacks Rank #2 (Buy).
On Aug. 22, Northrim BanCorp declared that its shareholders would receive a dividend of $0.62 a share on Sept. 13, 2024. NRIM has a dividend yield of 3.60%. Over the past five years, Northrim BanCorphas increased its dividend 10 times, and its payout ratio at present sits at 42% of earnings.Check Northrim BanCorp’s dividend history here.
Northrim BanCorp Inc Dividend Yield (TTM)
Northrim BanCorp Inc dividend-yield-ttm | Northrim BanCorp Inc Quote
Intuit Inc. is a business and financial software company that develops and sells financial, accounting and tax preparation software and related services for small businesses, consumers and accounting professionals globally. INTU has offices in the United States, Canada, India, the United Kingdom, Singapore, Australia, and other locations. Intuit carries a Zacks Rank #3.
On Aug. 22, Intuit announced that its shareholders would receive a dividend of $1.04 a share on Oct. 18, 2024. INTU has a dividend yield of 0.58%. Over the past five years, Intuit has increased its dividend six times, and its payout ratio at present sits at 31% of earnings.Check Intuit’s dividend history here.
Intuit Inc. Dividend Yield (TTM)
Intuit Inc. dividend-yield-ttm | Intuit Inc. Quote
SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. SSNC provides a broad range of specialized software, software-enabled services and software-as-a-service or SaaS solutions for operational excellence. SS&C Technologies Holdings has a Zacks Rank #3.
On Aug. 21, SS&C Technologies Holdings declared that its shareholders would receive a dividend of $0.25 a share on Sept. 16, 2024. SSNC has a dividend yield of 1.29%. Over the past five years, SS&C Technologies Holdings has increased its dividend six times, and its payout ratio at present sits at 22% of earnings.Check SS&C Technologies Holdings’ dividend history here.
SS&C Technologies Holdings, Inc. Dividend Yield (TTM)
SS&C Technologies Holdings, Inc. dividend-yield-ttm | SS&C Technologies Holdings, Inc. Quote