Dividend investors across the globe are still worried about the effects of the BP oil spill on the dividends of that company, especially since BP is owned by some of the largest income funds in the world. For those of you looking to switch your money out of BP here are some alternatives you may want to consider.

Flowers Foods (FLO), manufacturer of bakery products in the US, has increased its dividend 14.3% to $0.20 per share. This results in a fresh yield of 3.22%. Tri-Continental (TY), a large US fund, has increased its distribution 11% to $0.05 per share. This gives it a new yield of 1.77%. Communications Systems (JCS), provider of devices to the communications industries, has increased its dividend to $0.15 per share. This produces a yield of 5.75%. American Eagle (AEO), clothing retailer for aged between 15 and 25, has increased its quarterly dividend 10% to $0.11 per share. This gives a yield of 3.60%. Finally, Del Monte (DLM), manufacturer of luxury foods for family and pets, has increased its quarterly dividend to $0.09 per share, generating a new yield of 2.29%.

Dividend Achievers and Aristocrats

Universal Health Realty (UHT), investor in healthcare facilities, has increased its quarterly dividend to $0.605 per share. This produces an impressive yield of 7.95%. Universal Health Realty is a dividend achiever with 23 consecutive yearly dividends increases under its belt. Caterpillar (CAT), the multinational manufacturer of various building equipment in the land-moving niche, has increased its dividend to $0.44 per share, producing a dividend of 3.10%. Caterpillar is a dividend achiever having increased its dividends for 17 consecutive years.

Target (TGT), the owner of the chain of Target and SuperTarget stores, has increased its dividend a huge 47% to $0.25 per share. This produces an annual yield of 1.90%. Target is a dividend aristocrat, having increased its dividends for the past 43 consecutive years. National Fuel Gas (NFG), a general gas utilities company, has increased its quarterly dividend to $0.345 per share, producing a yield of 2.80%. National Fuel Gas is qualifies as a dividend champion (an index maintained by the Drip Investing Resource Center) with 40 years of consecutive years’ dividend increases.

Final Thoughts

Taking a look in the increases above, it is easy to spot a few hefty dividends. The one that should jump out instantly to all dividend investors is the 7.95% yield of Universal Health Realty. With the UHR trust being a dividend achiever, and almost qualifying as a dividend aristocrat, you can be almost certain that this long string of dividend increases will increases far into the future, thus increase your yield significantly over time from the already-high 7.95%.

If realty doesn’t tickle your fancy, there are other options to invest in, such as Communications Systems which is boasting a 5.75% yield. With Communications Systems having a relatively unproven dividend increases record, you may wish instead to turn to Caterpillar which has 17 years’ worth of dividend increases to display. A yield of 3.10% is an acceptable yield for a large, stable company yet will almost certainly rise over the years.

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