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Recently, we provided you a list of large-cap S&P 500 stocks with high dividend yields and a dividend boost in the last few months. A recent boost in dividends can be an important criterion for some investors as it may suggest further increases in dividend yields down the road. We like dividend stocks and believe that they will outperform 10-year treasuries over the next 10 years.

Below, we compiled another list of eight large-cap S&P 500 stocks with high dividend yields and a recent dividend boost. The market data are sourced from Fidelity. All companies in this list have either increased dividend payouts since May 2011 or announced an increase in payouts in the next quarter. (The market data are sourced from Fidelity.) All stocks in our list have market capitalizations above $10 billion and annualized dividend yields of at least 3%.

Dividend Yield

Recent Dividend Growth

YTD Return

Duke Energy Corp.

DUK

5.11%

2.04%

14.4%

Xcel Energy Inc.

XEL

4.12%

2.97%

9.6%

General Electric Co.

GE

3.67%

7.14%

-8.5%

Northrop Grumman

NOC

3.65%

6.38%

-4.4%

Dow Chemical Co.

DOW

3.53%

66.67%

-16.2%

Illinois Tool Works Inc.

ITW

3.17%

5.88%

-13.9%

Chevron Corp.

CVX

3.13%

8.33%

11.7%

Republic Services Inc.

RSG

3.05%

10.00%

-2.1%

AVERAGE

13.68%

-1.17%

These S&P 500 stocks boosted their dividends by 13.68% on average since May 2011. Since the beginning of this year, the average return of these nine large-cap stocks was -1.17% vs. -2.46% for the SPY. Two stocks on our list – DUK and CVX – provided double digit returns year-to-date.

Here are the eight S&P 500 stocks with high dividend yields and a recent dividend boost on our list:

Duke Energy Corp.: Duke Energy Corp. is a large energy company operating in the United States. DUK raised its annualized dividends per share from 98 cents to $1.00 last August, boosting its dividend yield to 5.11%. DUK recently traded at $19.57 and returned 14.38% since the beginning of this year. The stock has a market cap of $26.05B and P/E Ratio of 12.71. Michael Messner holds more than $30 Million of DUK.

Xcel Energy Inc.: Xcel Energy Inc. is a public utility company that provides electricity and natural gas delivery services in the United States. XEL raised its annualized dividends per share from $1.01 to $1.04 last June, boosting its dividend yield to 4.12%. XEL recently traded at $25.27 and returned 9.63% since the beginning of this year. The stock has a market cap of $12.24B and P/E Ratio of 14.78. John A.Levin’s Levin Capital holds the largest XEL position among 300-plus funds we are tracking.

General Electric Co.: General Electric Co. is a large conglomerate providing technology, media and financial services worldwide. GE raised its annualized dividends per share from 56 cents to 60 cents last June, boosting its dividend yield to 3.67%. GE recently traded at $16.33 and lost -8.46% since the beginning of this year. The stock has a market cap of $173.10B and P/E Ratio of 12.76. Ken Fisher had nearly $600 million in GE at the end of June 2011 (check out Fisher’s other top holdings).

Northrop Grumman Corp.: Northrop Grumman Corp. is a global company operating in aerospace, defense technology and electronics industries worldwide. NOC raised its annualized dividends per share from $1.88 to $2.00 last May, boosting its dividend yield to 3.65%. NOC recently traded at $54.82 and lost -4.43% since the beginning of this year. The stock has a market cap of $15.24B and P/E Ratio of 8.58. Jean-Marie Eveillard holds more than $60 million of NOC (see Eveillard’s top stock picks).

Dow Chemical Co.: Dow Chemical Co. is a global corporation providing plastics, chemicals and agricultural products worldwide. DOW raised its annualized dividends per share from 60 cents to $1.00 last June, boosting its dividend yield to 3.53%. DOW recently traded at $28.30 and lost -16.17% since the beginning of this year. The stock has a market cap of $33.43B and P/E Ratio of 12.86. Joshua Berkowitz and Jim Simons are the most prominent DOW investors.

Illinois Tool Works Inc.: Illinois Tool Works Inc. is a U.S. manufacturing company that provides industrial products and equipment worldwide. ITW announced it will raise its annualized dividend per share from $1.36 to $1.44 at the end of this month, boosting its dividend yield to 3.17%. ITW recently traded at $45.39 and lost -13.94% since the beginning of this year. The stock has a market cap of $22.31B and P/E Ratio of 11.98. Ric Dillon holds more than $150 million of ITW.

Chevron Corp.: Chevron Corp. is a large U.S. energy company operating worldwide. CVX raised its annualized dividends per share from $2.88 to $3.12 last May, boosting its dividend yield to 3.13%.
CVX recently traded at $99.63 and returned 11.74% since the beginning of this year. The stock has a market cap of $199.56B and P/E Ratio of 8.70.
Phill Gross’ Adage Capital had more than $300 million in CVX at the end of June 2011 (see Gross’ favorite stocks here).

Republic Services Inc.: Republic Services Inc. is a large waste management services company operating in the United States and Puerto Rico. RSG announced to raise its annualized dividends per share from 80 cents to 88 cents at the end of this month, boosting its dividend yield to 3.05%. RSG recently traded at $28.84 and lost -2.14% since the beginning of this year. The stock has a market cap of $10.86B and P/E Ratio of 22.89. John Osterweis holds the largest RSG position among the 300-plus funds we are tracking.

Disclosure: I am long SPY.

Source: 8 High Dividend Stocks With A Recent Dividend Boost