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5 Stocks to Watch on Recent Dividend Hikes Amid High Volatility

Major U.S indexes like the S&P 500, the Dow and the Nasdaq continued to gyrate in the month of October after a disappointing this year till September. Though the stock market recovered in October, the overall sentiment of investors remains cautious ahead of the Federal Reserve’s meeting this week.

The Fed is expected to continue with its aggressive monetary policy tightening stance to fight inflation, which came in at 8.2% on a year-over-year basis in September mainly due to rising prices of shelter, food and medical care. The OPEC+ decision to cut down oil supply by 2 million barrels/day, in the meantime, will push oil prices higher and that might elevate inflation in the upcoming winter season.

Although the inflation has marginally fallen from August’s high of 8.3%, it is still in an uncomfortable position for the average American and the Fed, which aims to bring it down to around 2%. Notably, rate hikes don’t bode well for the economy vis-à-vis the stock market.

A fresh Covid situation is again looming in China and authorities have imposed restrictions to prevent a breakout. Along with these, incessant geo-political tensions between Russia-Ukraine continue to impose threats for the global supply chain, resulting in volatility for the stock market.

Thus, prudent investors who wish to earn a handsome return in such a dismal situation may invest in dividend-paying stocks. These dividend stocks tend to be profitable due to their proven business model. It helps them stay afloat during adverse economic conditions.

From such matured businesses, investors can expect a steady flow of income along with higher protection of capital against unexpected price changes. It is often seen that a company that tends to reward its investors with a high dividend payout, comparatively outperforms non-dividend-paying stocks during market volatility.

On that note, let us look at companies like AbbVie ABBV, Astec Industries ASTE, Boise Cascade BCC, Esquire Financial ESQ and The Hartford Financial Services Group HIG that have lately hiked their dividend payments.

AbbVie is a North Chicago, IL-based company that discovers, develops, manufactures and sells pharmaceuticals worldwide. The company enjoys leadership positions in key therapeutic areas, including immunology, hematologic oncology, neuroscience, aesthetics and eye care. ABBV currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.

On Oct 28, ABBV declared that its shareholders would receive a dividend of $1.48 a share on Feb 15, 2023. ABBV has a dividend yield of 3.85%.

Over the past five years, ABBV has increased its dividend seven times and its payout ratio presently sits at 41% of earnings. Check AbbVie’s dividend history here.

AbbVie Inc. Dividend Yield (TTM)

AbbVie Inc. Dividend Yield (TTM)
AbbVie Inc. Dividend Yield (TTM)

AbbVie Inc. dividend-yield-ttm | AbbVie Inc. Quote

Astec Industries is a leading manufacturer and marketer of road-building equipment. The Zacks Rank #3 company was incorporated in 1972 and is headquartered in Chattanooga, TN.

On Oct 27, ASTE declared that its shareholders would receive a dividend of $0.13 a share on Dec 2, 2022. ASTE has a dividend yield of 1.10%.

Over the past five years, ASTE has increased its dividend three times and its payout ratio presently sits at 45% of earnings. Check Astec Industries’ dividend history here.

Astec Industries, Inc. Dividend Yield (TTM)

Astec Industries, Inc. Dividend Yield (TTM)
Astec Industries, Inc. Dividend Yield (TTM)

Astec Industries, Inc. dividend-yield-ttm | Astec Industries, Inc. Quote

Boise Cascade is a wood products manufacturer and building materials distributor. This Zacks Rank #1 company has operations primarily in the United States and Canada.

On Oct 27, BCC declared that its shareholders would receive a dividend of $1.15 a share on Dec 15, 2022. BCC has a dividend yield of 0.72%.

In the past five-year period, BCC has increased its dividend seven times. Its payout ratio at present sits at 2% of earnings. Check Boise Cascade’s dividend history.

Boise Cascade, L.L.C. Dividend Yield (TTM)

Boise Cascade, L.L.C. Dividend Yield (TTM)
Boise Cascade, L.L.C. Dividend Yield (TTM)

Boise Cascade, L.L.C. dividend-yield-ttm | Boise Cascade, L.L.C. Quote

Esquire Financial is a bank holding company. This Zacks Rank #1 company provides banking products and services to law professionals, professional service firms, small to mid-sized businesses and individuals primarily in the United States.

On Oct 27, ESQ announced that its shareholders would receive a dividend of $.10 a share on Dec 1, 2022. ESQ has a dividend yield of 0.80%.

Over the past five years, ESQ has increased its dividend one time. Its payout ratio now sits at 12% of earnings. Check Esquire Financial’s dividend history here.

Esquire Financial Holdings, Inc. Dividend Yield (TTM)

Esquire Financial Holdings, Inc. Dividend Yield (TTM)
Esquire Financial Holdings, Inc. Dividend Yield (TTM)

Esquire Financial Holdings, Inc. dividend-yield-ttm | Esquire Financial Holdings, Inc. Quote

The Hartford Financial Services Group is one of the major multi-line insurance and investment companies in the country. This Zacks Rank #3 company provides investment products, group life and group disability insurance, property and casualty insurance and mutual funds in the United States.

On Oct 27, HIG declared that its shareholders would receive a dividend of $0.43 a share on Jan 4, 2023. HIG has a dividend yield of 2.13%.

Over the past five years, HIG has increased its dividend six times and its payout ratio at present sits at 21% of earnings. Check The Hartford Financial Services Group’s dividend history here.

The Hartford Financial Services Group, Inc. Dividend Yield (TTM)

The Hartford Financial Services Group, Inc. Dividend Yield (TTM)
The Hartford Financial Services Group, Inc. Dividend Yield (TTM)

The Hartford Financial Services Group, Inc. dividend-yield-ttm | The Hartford Financial Services Group, Inc. Quote


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The Hartford Financial Services Group, Inc. (HIG) : Free Stock Analysis Report
 
Astec Industries, Inc. (ASTE) : Free Stock Analysis Report
 
AbbVie Inc. (ABBV) : Free Stock Analysis Report
 
Boise Cascade, L.L.C. (BCC) : Free Stock Analysis Report
 
Esquire Financial Holdings, Inc. (ESQ) : Free Stock Analysis Report
 
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