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Despite the brutal market sell-off and diving economy, a handful of companies have astonishingly increased their dividend payments in the last month amid the coronavirus pandemic.
As scores of companies suspend or cut payouts, these companies are signaling the "all clear" for income investors and showing just how fortified their balance sheets are in these tough times.
The fast-spreading coronavirus has caused unprecedented financial and societal disruption in the U.S. A likely deep recession should hurt corporate cash flows and pressure capital return plans. Due to the economic fallout of the virus, Wall Street firms expect dividend to fall double digits in the second and third quarter of 2020, adding to the already long list — Tapestry, Carnival, Macy's, L Brands and Nordstrom— of stocks that have already suspended or omitted their dividends this year.
Check out the list of dividend increasers here.
Source: cnbc.com