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Last week the markets continued their roller coaster ride, sending most investors accounts to new five year lows. On Thursday the S&P 500 broke through its October lows and reached its lowest level since 2003, before recovering the very same day.

There were still several stocks had some major dividend increases over the past week. Other stocks like General Electric (NYSE:GE) didn’t deliver such exciting news but reaffirmed their current dividend rates to shareholders.

Automatic Data Processing (NASDAQ:ADP), announced that its Board has approved a 13.00% increase in its quarterly dividend from $0.29 to $0.33 per common share. Automatic Data Processing is a dividend aristocrat which has increased its dividends for over thirty three years. Annual dividend payments have increased by an average of 15.20% annually over the past 10 years. The stock currently yields 3.60%.

Baxter International Inc. (NYSE:BAX) announced that its Board has approved a 20.00% increase in its quarterly dividend from $0.2175 to $0.26 per common share.. The stock currently yields 1.70%.

Bob Evans Farms (NASDAQ:BOBE) announced that its Board has approved a 16.00% increase in its quarterly dividend to $0.16 per common share. The stock currently yields 3.60%.

BorgWarner Inc. (NYSE:BWA), a manufacturer and seller of engineered automotive systems and components primarily for power train applications worldwide, announced that its board has approved a 9.00% increase in its quarterly dividend from $0.11 to $0.12 per common share effective fourth quarter of 2008. BorgWarner has tripled its quarterly dividend payment since 2003. The stock currently yields 2.60%.

Massey Energy Company (NYSE:MEE) announced that its Board has approved a 20.00% increase in its quarterly dividend from $0.05 to $0.06 per common share.. The stock currently yields 1.20%.

Cisco Systems (NASDAQ:CSCO) CEO John Chambers communicated the intent that Cisco will eventually pay a dividend. He announced that the dividend will come before he leaves as Cisco's CEO. The evolution of the large cap former tech bellwether darlings of Wall Street from the 1990’s is astonishing. As stocks like INTC, MSFT and CSCO are no longer growing as rapidly as they used to and become mature companies, they start distributing larger portions of their net incomes to shareholders in terms of dividends. The more important question however is whether these companies will continue paying out rising dividends to shareholders after the dividend tax is repealed.

Disclosure: Author is long ADP.

Source: Dividend Stocks: GE Affirms Current Dividend, ADP Increases 13%