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This company is an American multinational diversified financial services company with operations around the world. It is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. In 2011, it was the 23rd largest company in the United States. For many years it has been a popular holding of Warren Buffett.

The company fell out of favor in May 2009 when it slashed its dividend to $0.05 per share from $0.34 per share. It took eight more quarters before the stock increased its dividend to $0.07 per share in March 2011. Since then it has seen four additional increases, including the most recently announced one. Buffett has taken advantage of the stock's weakness by adding to his position each quarter. Which company is this? It is...

Wells Fargo & Company (NYSE:WFC)

The company provides retail, commercial, and corporate banking services. On Jan. 22, the company increased its quarterly dividend 14% to $0.25 per share. The dividend is payable March 1, 2013, to stockholders of record on Feb. 1, 2013. The yield based on the new payout is 2.9%.

Below are several other companies that have recently increased their cash dividends to shareholders:

Old National Bancorp (NASDAQ:ONB) operates as the bank holding company for Old National Bank, which provides financial services to individuals and commercial customers primarily in Indiana, eastern and southeastern Illinois, and central and western Kentucky. On Jan. 24, the company increased its quarterly dividend 11.1% to $0.10 per share. The dividend is payable March 15, 2013, to shareholders of record on March 1, 2013. The ex-date of the cash dividend is Feb. 27, 2013. The yield based on the new payout is 3.1%.

Suburban Propane Partners, L.P. (NYSE:SPH) engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. On Jan. 24, the partnership increased its quarterly distribution 2.3% to $0.8750 per unit. The distribution is payable Feb. 12, 2013, to common unitholders of record as of Feb. 5, 2013. The yield based on the new payout is 8.3%.

Allete, Inc. (NYSE:ALE) primarily engages in the generation, transmission, and distribution of coal-fired, hydro, wind, and biomass co-fired power. On Jan. 23, the company increased its quarterly dividend 3.3% to $0.475 per share. The dividend is payable March 1, 2013, to common shareholders of record at the close of business Feb. 15, 2013. The yield based on the new payout is 4.2%.

MarkWest Energy Partners, L.P. (NYSE:MWE) engages in the gathering, processing, and transportation of natural gas in the southwest, Gulf Coast, and northeast regions of the United States. On Jan. 23, the partnership increased its quarterly distribution 7.9% to $0.82 per unit. The distribution is payable Feb. 14, 2013, to unitholders of record on Feb. 6, 2013. The ex-dividend date is Feb. 4, 2013. The yield based on the new payout is 6.1%.

RPC, Inc. (NYSE:RES) provides a range of oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production, and development of oil and gas properties. On Jan. 23, the company increased its quarterly dividend 25% to $0.10 per share. The dividend is payable March 8, 2013, to common stockholders of record at the close of business on Feb. 8, 2013. The yield based on the new payout is 2.8%.

Realty Income Corporation (NYSE:O) engages in the acquisition and ownership of commercial retail real estate properties in the United States. On Jan. 22, the company increased its monthly dividend 19.2% to $0.1809167 per share per share. The dividend is payable Feb. 15, 2013, to shareholders of record as of Feb. 1, 2013. This is the 70th dividend increase since Realty Income went public in 1994. The yield based on the new payout is 4.5%.

BB&T Corporation (NYSE:BBT) operates as a financial holding company for Branch Banking and Trust Company that provides various banking and trust services for retail and commercial clients. On Jan. 22, the company increased its quarterly dividend 15% to $0.23 per common share payable March 1, 2013, to shareholders of record at the close of business on Feb. 8, 2013. The yield based on the new payout is 3.0%.

MHI Hospitality Corporation (MDH), a real estate investment trust (REIT), engages in the ownership and operation of upper upscale and midscale hotels in the Mid-Atlantic and southeastern United States. On Jan. 22, the company increased its quarterly dividend 16.7% to $0.035 per share. The dividend is payable April 11, 2013, to shareholders of record as of March 15, 2013. The yield based on the new payout is 4.2%.

Global Partners LP (NYSE:GLP) engages in the wholesale and commercial distribution of refined petroleum products, renewable fuels, and natural gas, and crude oil. On Jan. 22, the company increased its quarterly distribution 7% to $0.57 per unit. The distribution will be paid Feb. 14, 2013, to unitholders of record as of the close of business Feb. 5, 2013. The yield based on the new payout is 7.5%.

Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.

Disclosure: I'm long O. See a list of all my dividend growth holdings here.

Source: Wells Fargo: This Buffett Stock Is Back With A Vengeance, Raising Its Dividend 14%