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One of the more positive catalysts, in my opinion, with regard to dividend-paying stocks occurs when a company increases its quarterly (and in some cases monthly) distribution. On Wednesday, there were three very significant dividend announcements, all by companies projected to grow during the second quarter. Each of these companies should not only demonstrate positive quarterly growth, but also increased their quarterly distribution to shareholders.

Enterprise Product Partners LP (NYSE:EPD), trades in a 52-week range of $36.36/share (52-week low) to $52.95/share (52-week high), has a market cap of $46.30 billion and currently yields 4.9% ($2.51). On Wednesday the company announced a dividend increase of 1.2% or $0.007/share. The previous payout, which took place in April, was for $0.628/share. Now many investors may not see a 1.2% increase as anything that exciting, but the company has announced an increase in its quarterly distribution every quarter since July 2004, which happens to be 32 consecutive quarters. One of the secondary catalysts investors should also consider in terms of EPD is projected quarterly growth. Analysts are estimating that EPD will grow 15.7% for the second quarter, and if the dividend increase is any indication of projected growth we could see that number be surpassed.

Ryder System, Inc. (NYSE:R) trades in a 52-week range of $33.14/share (52-week low) to $60.38/share (52-week high), has a market cap of $1.70 billion and currently yields 3.5% ($1.16). On Wednesday the company announced a dividend increase of 6.9% or $0.02/share. The previous payout, which took place in May, was for $0.29/share. I think the 6.9% increase of the company's dividend is very healthy considering the fact that it has increased the dividend since 2004. One of the secondary catalysts investors should also consider in terms of R is projected quarterly growth. Analysts are estimating that R will grow just 1.1% for the second quarter, and if the dividend increase is any indication of projected growth we could see that number easily surpassed.

Fastenal Company (NASDAQ:FAST) trades in a 52-week range of $29.14/share (52-week low) to $55.05/share (52-week high), has a market cap of $12.51 billion and currently yields 1.7% ($0.68). On Wednesday the company announced a dividend increase of 11.7% or $0.02/share. The previous payout, which took place in May, was for $0.17/share. I think the 11.7% increase of the company's dividend is very healthy considering it moved to a quarterly payout format just this year. One of the secondary catalysts investors should also consider in terms of FAST is projected quarterly growth. Analysts are estimating that FAST will grow 15.6% for the second quarter, and if the dividend increase is any indication of projected growth we could see that number easily surpassed.

Source: 3 Increased Dividends To Consider At Current Levels