Payday Alert! These Three Stocks Just Raised Their Dividends…

Lots of good news for dividend investors this week.

Three big businesses announced dividend raises, with two of these companies growing their dividend by more than 10%.

Here’s a quick recap of each increase.

1. American Express ($AXP)

American Express raised its dividend by 16.7%.

This is a massive increase, and the company will now pay $0.70 per quarter.

While American Express stock has rallied to a new 52-week high, the company still trades at a price to earnings ratio of 16.02 — a valuation that’s significantly lower than the S&P 500.

American Express has a smaller userbase than other payment processers like Visa or MasterCard, but the company targets higher net worth clients — the average Platinum Card owner has a net worth of $4.3 million and a household income of $474,000 — and is a luxury brand within the financial space.

This is a great buy-and-hold stock for investors who want a blue chip company with inflation-beating dividend growth.

2. Archer-Daniels-Midland ($ADM)

Archer-Daniels-Midland stock tanked last Monday when the company suspended an executive over…