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Companies that generate excess cash flows are more likely to maintain and increase their dividends. If you look for dividends, you also have to look at the dividend growth. If a company has a stable business and solid financials, they can consider increasing their dividend payments. Popular dividend growth stocks like Procter and Gamble (NYSE:PG) or Coca Cola (NYSE:KO) have raised dividends every 4 quarter by 5-10 percent over decades. Dividend growth represents a huge part of the company’s long-term growth. I screened stocks with recent dividend hikes from last week. These are five stocks that have doubled their dividends or more:

1. Consolidated Tomoka Land (NYSEMKT:CTO) is acting within the real estate development industry. The company has a market capitalization of $159.6 million, generates revenues in an amount of $14.9 million and a net loss of $0.03 million. It follows P/E ratio is not calculable, Price/Sales 10.7 and Price/Book ratio 1.4. Dividend Yield: 0.3 percent. The company announced that it will raise its quarterly dividend by 100 percent to 2 cents per share.

2. MI Developments (MIM) is acting within the property management industry. The company has a market capitalization of $1.5 billion, generates revenues in an amount of $291.9 million and a net loss of $38.7 million. It follows P/E ratio is not calculable, Price/Sales 5.1 and Price/Book ratio 1.5. Dividend Yield: 6.3 percent. The company announced that it will raise its quarterly dividend by 400 percent to 50 cents per share.

3. National Penn Bancshares (NASDAQ:NPBC) is acting within the regional north east banks industry. The company has a market capitalization of $1.1 billion, generates revenues in an amount of $356.9 million and a net income of $70.3 million. It follows P/E ratio is 16.0 and forward price to earnings 13.0, Price/Sales 3.2 and Price/Book ratio 1.0. Dividend Yield: 2.1 percent. The company announced that it will raise its quarterly dividend by 300 percent to 4 cents per share.

4. RadioShack (NYSE:RSH) is acting within the electronics stores industry. The company has a market capitalization of $1.2 billion, generates revenues in an amount of $4.3 billion and a net income of $108.3 million. It follows P/E ratio is 12.1 and forward price to earnings 8.2, Price/Sales 0.3 and Price/Book ratio 1.5. Dividend Yield: 4.2 percent. The company announced that it will raise its quarterly dividend by 100 percent to 50 cents per share.

5. Valero Energy (NYSE:VLO) is acting within the oil and gas refining and marketing industry. The company has a market capitalization of $13.9 billion, generates revenues in an amount of $100.8 billion and a net income of $1.3 billion. It follows P/E ratio is 10.4 and forward price to earnings 5.7, Price/Sales 0.1 and Price/Book ratio 0.9. Dividend Yield: 0.8 percent. The company announced that it will raise its quarterly dividend by 200 percent to 15 cents per share.

Take a closer look at stocks with dividend growth form last week. The average dividend growth amounts to 35.9 percent.



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

Source: 5 Companies That Have Doubled Their Stock Dividends