3 Boosted Dividend Stocks to Buy Now Now that earnings season is winding down, we've seen several companies decide to bump up their dividend payouts on the back of a strong quarter. It mi...

Whenever a company boosts its dividend payout, the investment world takes notice. That's because a dividend increase can signal to investors that the company is increasing its cash flows and is in sound financial shape. On the other hand, it might mean that a company is shifting its strategy away from growth in order to distribute more profits to long-term shareholders. Regardless of the exact reason behind a dividend boost, income investors should always be on the lookout for companies that have recently raised their dividends to capture a better dividend yield and potentially add shares of a stock that is more attractive to new shareholders.

Now that earnings season is winding down, we've seen several companies decide to bump up their dividend payouts on the back of a strong quarter. It might pay off to add shares of these companies if you are looking to generate some extra cash in your portfolio or simply want to own businesses that are flexing their financial muscles. Keep reading below for a brief overview of 3 boosted dividend stocks to buy now.

Lam Research Corp (NASDAQ: LRCX)

This major player in the semiconductor industry supplies wafer fabrication equipment and services that are essential for producing the chips that power so many of the most popular technological devices today. While Lam Research stock has been trading sideways over the last quarter, the fact that the company just raised its quarterly dividend by 15% to $1.50 per share and is benefitting from heavy demand thanks to the global chip shortage makes it a very interesting option in the tech sector at this time.

Even after the semiconductor shortage is taken care of, Lam Research should still be able to capitalize on secular trends like the rise of 5G networks, the remote work revolution, and enterprises moving their operations into cloud data centers. It's also worth mentioning that Lam Research is a market leader in the dry etch and deposition markets and should remain a major player in the industry for years to come thanks to the company's wide economic moat since it is quite costly for competitors to develop this type of equipment. The company also saw its revenue exceed $4 billion in a quarter during Q1 for the first time in its history, another sign of a business that is firing on all cylinders at this time.

Deere & Co (NYSE: DE)

Another quality name to consider adding shares of following a recent dividend boost is Deere & Co, which is the world's largest producer of farm equipment and a major supplier of construction machinery and lawn and garden equipment. Deere recently increased its quarterly dividend payout by 17% to $1.05 per share and is certainly an interesting name to watch in the industrials sector. It's a company that will benefit from all of the upcoming U.S. federal infrastructure spending and should deliver a very strong fiscal year as global construction activity bounces back from the impacts of the pandemic.

Investors can view Deere & Co as one of the best industrial stocks to hold over the long term thanks to the company's strong management team and rock-solid financials. Recently, the company reported strong Q3 results including diluted EPS of $5.68, up 169% year-over-year. Deere also raised its 2021 outlook following the report and should benefit from steady agricultural demand throughout the remainder of the year. The bottom line here is that Deere is a company that plays a critical role in some of the most important industries in the world and a stock that is poised to deliver a strong finish to the year.

Altria Group (NYSE: MO)

Last but not least, we have Altria Group, a dividend aristocrat stock with a 51-year dividend growth streak and a smoking hot dividend yield. The company just bumped its quarterly dividend payment up by 4.7% to $0.90 a share, which is certainly appealing as inflation fears remain present. Altria is a holding company with segments including smokeable products, oral tobacco products, and wine and the owner of one of the most iconic tobacco brands in the United States, Phillip Morris.

While the U.S. cigarette market is declining, Altria Group is still worth adding thanks to its ability to increase its prices to combat the decreasing sales volumes. The company also has a 10.2% stake in the world's largest brewer, Anheuser-Busch InBev, which means its business is likely more diversified than investors might initially think. It's hard to pass up a company with a market-leading position and incredibly reliable history of dividend increases, which is why Altria Group deserves your attention.