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We have all heard it before: "stodgy," "for old people," "yawn," "boring." These words have all been used to describe dividend growth stocks. As a dividend growth investor, I sometimes think our strategy is the most misunderstood. It seems as if everyone understands a trader's mentality and a high-yield mentality. Periodically, it is good to remind ourselves that dividend growth stocks provide us with excellent long-term leverage and a growing income.

Below are a few companies that understand the importance of growing their cash dividends.

Neenah Paper, Inc. (NP) produces technical products and fine papers worldwide. On May 30, the company increased its quarterly dividend 33% to $0.20 per share. The dividend is payable Sept. 3, 2013, to shareholders of record as of Aug. 16, 2013. The yield based on the new payout is 2.6%.

Eastern Insurance Holdings, Inc. (EIHI) provides workers' compensation insurance and reinsurance products in the United States. On May 30, the company increased its quarterly dividend 22% to $0.11 per share. The dividend is payable June 28, 2013, to shareholders of record at the close of business on June 14, 2013. The yield based on the new payout is 2.4%.

Post Properties, Inc. (PPS) is an independent real estate investment trust that develops, owns, and manages multi-family apartment communities. On May 23, the company increased its quarterly dividend 32% to $0.33 per share. The dividend is payable on July 15, 2013, to all common shareholders of record as of June 28, 2013. The yield based on the new payout is 2.7%.

Portland General Electric Company (POR), an integrated electric utility, engages in the generation, purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. On May 22, the company increased its quarterly dividend 1.9% to $0.275 per share. The dividend is payable July 15, 2013, to shareholders of record at the close of business on June 25, 2013. The yield based on the new payout is 3.5%.

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 here.

Disclosure: No position in the aforementioned securities. See a list of all my dividend growth holdings here.

Source: 4 Stocks Paying Higher Cash Dividends