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I have stated many times that my goal is to create an ever-growing income stream from dividend growth stocks. In addition, it is my desire to beat the S&P 500 over time. That said, I rarely look at the capital performance of individual stocks. What I do watch is the ability of the stocks I own to sustain their dividend growth.

This week, several companies met their shareholders' goal of higher cash dividends:

Weyerhaeuser Company (WY), a forest products company, grows and harvests trees, builds homes, and manufactures forest products worldwide. On Aug. 15 the company increased its quarterly dividend 10% to $0.22 per share. The dividend is payable on Sept. 13, 2013, to shareholders of record at the close of business on Aug. 30, 2013. The yield based on the new payout is 3.2%.

Connecticut Water Service, Inc. (CTWS) operates as a regulated water company. On Aug. 15 the company increased its quarterly dividend 2.1% to $0.2475 per share. The dividend is payable on Sept. 16, 2013, for shareholders of record as of Sept. 2, 2013. The yield based on the new payout is 3.3%.

Cinemark Holdings, Inc. (CNK) engages in motion picture exhibition business. On Aug. 15 the company increased its quarterly dividend 19% to $0.25 per share. The dividend is payable on Sept. 12, 2013, to stockholders of record on Aug. 28, 2013. The yield based on the new payout is 3.2%.

G&K Services, Inc. (GK) provides branded uniform and facility services programs in the United States, Canada, Ireland, and the Dominican Republic. On Aug. 15 the company increased its quarterly dividend 38% to $0.27 per share. The dividend is payable on Sept. 27, 2013, to shareholders of record at the close of business on Sept. 12, 2013. The yield based on the new payout is 2.0%.

ITC Holdings Corp. (ITC) engages in the transmission of electricity in the United States. On Aug. 14 the company increased its quarterly dividend 13% to $0.425 per share. The dividend is payable on Sept. 16, 2013, to shareholders of record on Sept. 3, 2013. The yield based on the new payout is 2.0%.

Bolt Technology Corp. (BOLT) engages in the development, manufacture, and sale of marine seismic data acquisition equipment and underwater remotely operated robotic vehicles worldwide. On Aug. 14 the company increased its quarterly dividend 28.6% to $0.09 per share. The dividend is payable on Oct. 3, 2013, to stockholders of record on Sept. 5, 2013. The yield based on the new payout is 2.0%.

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

Source: 6 Stocks Meeting The Goal Of Higher Dividends