Because the stock market is expected to remain volatile on concerns over the resurgence of COVID-19 cases and high inflation, we think it could be wise to bet on Cummins (CMI), Stanley Black & Decker (SWK), and Ally Financial (NYSE:ALLY). They have each increased their quarterly dividends lately. Read on.The three major stock market indexes closed at record highs last week, led by a string of solid earnings reports. However, market volatility still lingers, with several parts of the world witnessing a resurgence of COVID-19 cases due to the rapid spread of the virus’ Delta variant. Moreover, a decline in consumer sentiment, rising inflation, and a recent surprise increase in jobless claims could sustain stock market volatility in the near term.
So, we think it could be wise to turn to dividend-yielding stocks to ensure a steady stream of income in the current environment. .
Cummins Inc . (NYSE:CMI), Stanley Black & Decker, Inc. (SWK), and Ally Financial Inc. (ALLY) look attractive at first blush due to their market dominance in their respective industries and stable dividend pay-outs over the years. Furthermore, they each increased their quarterly dividend last week.