General Dynamics builds the M-1 Abrams Main Battle Tank for the U.S. and
foreign militaries.
Photo: Flickr.com/U.S. Army Europe

Two dividend growth companies announced their annual increases this week.  Both were double-digit increases, with newly minted Dividend Aristocrat General Dynamics posting a nearly 11% increase and future Dividend Aristocrat Ross Stores announcing a nearly 20% increase.

Dividend Increases Announced This Week

General Dynamics Corporation (GD)

Industry: Aerospace & Defense

Dividend Payment: 34 cents per share – up 10.5% from prior level of 76 cents

Dividend Paid On: 5/5

Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 4/5

Number of Years of Dividend Increases: 26

Current Forward Yield: 0.95%

Ross Stores (ROST)

Industry: Retail

Dividend Payment: 16 cents per share – up 18.5% from prior level of 13.5 cents

Dividend Paid On: 3/31

Stock Goes Ex-Dividend (own the stock before this date to collect the dividend): 3/8

Number of Years of Dividend Increases: 23

Current Forward Yield: 1.77%