7 More Dividend Stocks Benefiting From the Tax Cut

Here come those tax cuts! If you are an American corporation, especially a large publicly traded one, there is going to be a windfall. Now, some of these companies will plow the savings back into their businesses. Others will repurchase stock, which I don’t generally like considering how overvalued many of these companies are. Others may use the money to pay down debt. Still, others will have plenty of cash to reward shareholders by increasing dividends. With taxes being cut from 35% to 21%, that represents a 40% savings; companies paying tons in taxes may love the idea of boosting their dividend to attract more income investors. Here are seven companies I see as raising their dividends.

Johnson & Johnson (NYSE:JNJ) stands to save about $1.35 billion annually. Lowe’s Companies, Inc. (NYSE:LOW) is a big winner in the corporate tax cut announcement. Pepsico Inc. (NYSE:PEP) has been floundering a bit, as the company probably never expected consumers to push soda aside in favor of “healthier” drinks. The Procter & Gamble Company (NYSE:PG), like JNJ, has a great opportunity here to lift its dividend. McDonald’s Corporation (NYSE:MCD) has been enjoying a terrific turnaround. 3M Company (NYSE:MMM) is one of the last truly great conglomerates that has outlasted some of the other big names. It truly has its hands in everything.Visa Inc. (NYSE:V) is a pretty incredible business that has very little capex, and remains extremely profitable.

Source: InvestorPlace

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