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Dividend increases are generally considered a good signal to the market – it shows that management is sufficiently confident in the company that it can afford to pay an increased dividend in the future. It also directly adds value for shareholders.

Here we ran a screen on today’s rallying, large-cap stocks for those that have seen a significant dividend increase between this year’s estimate of dividend per share and last year’s dividend. We also controlled for sustainable payout ratios below 35% and dividend yields around 2% or greater.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.



We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.



Do you think these companies pay reliable dividends? Use this list as a starting point for your own analysis.

List sorted by market cap.

1. Northrop Grumman Corporation (NYSE:NOC):
Market cap at $18.88B. Current year dividend per share estimate at $1.9367 vs. last year's dividend per share at $1.84 (5.26% increase). TTM payout ratio at 26.74%. Price is currently at 5.49% above its 20-day SMA, 6.66% above its 50-day SMA, and 14.28% above its 200-day SMA.

2. Magna International, Inc. (NYSE:MGA):
Market cap at $12.66B. Current year dividend per share estimate at $0.7829 vs. last year's dividend per share at $0.42 (86.40% increase). TTM payout ratio at 15.21%. Price is currently at 10.52% above its 20-day SMA, 7.78% above its 50-day SMA, and 6.61% above its 200-day SMA.

3. Harley-Davidson, Inc. (NYSE:HOG): Market cap at $9.24B. Current year dividend per share estimate at $0.4438 vs. last year's dividend per share at $0.40 (10.95% increase). TTM payout ratio at 30.40%. Price is currently at 6.63% above its 20-day SMA, 5.41% above its 50-day SMA, and 9.29% above its 200-day SMA.

4. Autoliv, Inc. (NYSE:ALV): Market cap at $6.88B. Current year dividend per share estimate at $1.7698 vs. last year's dividend per share at $1.05 (68.55% increase). TTM payout ratio at 14.52%. Price is currently at 6.31% above its 20-day SMA, 3.57% above its 50-day SMA, and 5.58% above its 200-day SMA.

5. Polaris Industries, Inc. (NYSE:PII): Market cap at $3.82B. Current year dividend per share estimate at $1.83 vs. last year's dividend per share at $1.60 (14.38% increase). TTM payout ratio at 31.91%. Price is currently at 7.28% above its 20-day SMA, 7.71% above its 50-day SMA, and 36.02% above its 200-day SMA.

6. BOK Financial Corp. (NASDAQ:BOKF): Market cap at $3.65B. Current year dividend per share estimate at $1.0763 vs. last year's dividend per share at $0.99 (8.72% increase). TTM payout ratio at 27.04%. Price is currently at 2.37% above its 20-day SMA, 1.94% above its 50-day SMA, and 6.40% above its 200-day SMA.

7. Commerce Bancshares Inc. (NASDAQ:CBSH): Market cap at $3.64B. Current year dividend per share estimate at $0.9355 vs. last year's dividend per share at $0.89 (5.11% increase). TTM payout ratio at 33.25%. Price is currently at 1.41% above its 20-day SMA, 0.16% above its 50-day SMA, and 5.76% above its 200-day SMA.

8. Nu Skin Enterprises Inc. (NYSE:NUS):
Market cap at $2.30B. Current year dividend per share estimate at $0.54 vs. last year's dividend per share at $0.50 (8.0% increase). TTM payout ratio at 26.42%. Price is currently at 1.77% above its 20-day SMA, 5.39% above its 50-day SMA, and 18.73% above its 200-day SMA.

9. Washington Federal Inc. (WFSL):
Market cap at $1.79B. Current year dividend per share estimate at $0.2582 vs. last year's dividend per share at $0.20 (29.10% increase). TTM payout ratio at 31.28%. Price is currently at 3.87% above its 20-day SMA, 3.37% above its 50-day SMA, and 0.36% above its 200-day SMA.

*Dividend data sourced from Screener.co, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 9 Large-Cap Rallying Stocks With Increasing Dividends