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Several companies have recently announced substantial increases in their dividends, reflecting their strong financial health and commitment to returning value to shareholders. These three companies raised dividends by 10% or more, giving their investors a significant raise.

Marriott International

Marriott International, Inc. (NASDAQ:MAR) operates a vast portfolio of nearly 8,900 properties under more than 30 brands across 141 countries and territories.

On May 10, Marriott announced a 21.2% increase in its quarterly dividend to $0.63 per share, or $2.52 annually, yielding 1.08%.

In addition to the dividend hike, Marriott has been actively repurchasing shares, buying back 4.8 million shares for $1.2 billion in Q1/24.

Over the last twelve months, Marriott reported $6.37 billion in revenue and $2.89 billion in net income.

Sylvamo Corporation

Sylvamo Corporation (NYSE:SLVM) is a global producer and marketer of uncoated freesheet paper, catering to markets in Latin America, Europe, and North America.

On May 17, Sylvamo announced a significant 50% hike in its quarterly dividend, raising it to $0.45 per share, or $1.80 annually. The dividend, yielding 2.56%, will be payable on July 29 to stockholders of record on July 8.

Sylvamo’s stock has surged over 44% year-to-date. It has consistently beaten consensus EPS estimates for the last three quarters. Over the past year, the company reported $3.68 billion in revenue and $199 million in net income.

Paychex

Paychex, Inc. (NASDAQ:PAYX) provides integrated human capital management solutions, including HR, payroll, benefits, and insurance services for small to medium-sized businesses in the U.S., Europe, and India.

On May 1, Paychex announced a 10.1% increase in its quarterly dividend, bringing it to $0.98 per share, or $3.92 annually, yielding 3.21%.

The company has maintained dividend payments for 37 consecutive years and raised them for the past 10 years.

Over the last twelve months, Paychex generated $5.21 billion in revenue and $1.66 billion in net income.

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This article These 3 Dividend Stocks Increased Payouts By 10%+ This Quarter originally appeared on Benzinga.com