Three companies raised their dividends in the middle of earnings season, and each one did it for a different reason.

A utility is funding growth in one of the country's fastest-growing states, a pest control company is working through a weak quarter, and a shale producer is sharing more of its free cash flow.

Let’s get into it.

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Energy

Kinder Morgan Is Putting $4.7 Billion Behind a Bigger Natural-Gas

Kinder Morgan, Inc. (NYSE: KMI) has approved approximately $4.7 billion as its share of two major natural-gas pipeline projects. Southeast Connector and Permian Link will expand transportation capacity as power plants, data centers, and LNG exporters increase demand for gas infrastructure. 

The commitments lifted its natural-gas project backlog to a record $13.2 billion, giving the company a larger pipeline of future construction work.

Electricity Demand Creates a Transportation Opportunity

Power plants need dependable fuel deliveries before they can supply electricity. Permian Link will serve new generation supporting a major data-center customer, connecting Kinder Morgan directly to that infrastructure buildout.

Customer Commitments Come Before Construction

Both projects have long-term transportation agreements requiring customers to pay for reserved capacity. Southeast Connector secured sufficient commitments to proceed and has room for further expansion if additional customers sign up. 

Electricity demand can therefore support the business you own through multiyear commercial relationships. Signed commitments also give Kinder Morgan a firmer foundation for construction spending.

The Growth Arrives Over Several Years

Permian Link is expected to begin service in the third quarter of 2030, followed by Southeast Connector in phases beginning later that year. Both schedules depend on permits and approvals. 

Construction costs and approval timelines will shape your eventual return from the expansion. Kinder Morgan has secured customers, but converting those commitments into operating cash flow still requires years of execution.

(KMI currently trades at $33.00 and pays a dividend of $1.19 per share, a yield of 3.61%.)

Healthcare

Abbott Is Splitting Off Nutrition to Build a More Focused Healthcare Company

Abbott Laboratories (NYSE: ABT) plans to spin off its global nutrition business as an independent, publicly traded company by the end of 2027. The operation generates approximately $8.5 billion in annual sales and includes Similac, Ensure, Pedialyte, PediaSure, and Glucerna.

The separation would give nutrition its own management and spending priorities while Abbott concentrates on medical devices, diagnostics, and established medicines.

Nutrition Has Its Own Business to Build

The nutrition company would begin with established brands, manufacturing facilities, and international distribution. Its management would control investment in product development and commercial activities across infant, pediatric, adult, and medical nutrition.

Even if you expect nutrition demand to grow, that business needs different spending priorities from a medical-device operation. Independence would let management build around those requirements.

A Clearer Structure Still Needs Results

Nutrition would gain more freedom to develop its brands, while Abbott would direct resources around a narrower healthcare portfolio. Both companies would have clearer responsibility for their spending and operating performance.

A separation can clarify the business story, but you still need stronger results on either side to establish that the change created value. The corporate structure gives each management team a clearer mandate, with execution determining the benefit.

(ABT currently trades at $101 and pays a dividend of $2.52 per share, a yield of 2.49%.)

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Offshore Production

Chevron Is Looking for Buyers for Several Mature Producing Fields

Chevron Corporation (NYSE: CVX) has begun marketing older oil and gas assets in the U.S. Gulf, including interests in Petronius, Tubular Bells, and Llano. Reuters sources put potential proceeds at around $1 billion, although the company has cautioned that sales are not guaranteed.

The process reflects Chevron’s preference for newer regional developments, including Anchor and Ballymore, while continuing exploration near existing facilities.

Selling Fields Can Accompany Expansion

Producing assets still have value, but retaining every field can spread capital and management attention across operations with different growth prospects. Chevron is choosing which properties deserve a continuing place in its portfolio.

Selling producing fields can look like a retreat until you account for the projects replacing them. Chevron’s newer developments show that trimming assets can go hand in hand with continued regional investment.

The Remaining Portfolio Matters

Anchor and Ballymore are already producing, giving Chevron operating projects to build its next phase around. Exploration near existing facilities also creates opportunities to connect additional resources to existing infrastructure.

Until agreements are signed, you cannot treat estimated proceeds as money Chevron has secured. The eventual prices and production being surrendered will help determine whether the reshuffle strengthens its Gulf business.

(CVX currently trades at $225 and pays a dividend of $7.12 per share, a yield of 3.16%.)

Dividend Stocks Worth Watching

Lithia Motors (NYSE: LAD)

Lithia raised its quarterly dividend 7% to $0.75 per share alongside third-quarter results. Diluted EPS jumped 54% to $13.22 on record revenue of $9.9 billion, and the company has bought back 8.7% of its shares so far in 2026. The shares still fell about 10% on Wednesday after the report.

The whole auto dealer group has been written off as cyclical, but Lithia keeps growing both earnings and the payout. If you want a contrarian play on dealership consolidation, this is it. The trailing yield is modest, and the dividend growth rate is doing the real work.

Waste Connections (NYSE: WCN)

Waste Connections lifted its quarterly dividend 10% to $0.385 per share on Wednesday. Trash collection sounds boring until you look at the pricing power, and waste haulers have been pushing through steady rate increases for years.

WCN is the operator everyone in the industry respects for underwriting discipline. You're not buying this for the yield. You're buying it for the growth and the stickiness, and any pullback is a gift.

NNN REIT (NYSE: NNN)

NNN declared its latest quarterly dividend at $0.62 per share, payable November 13 to holders of record as of October 30. You're being paid about 6% to own a net-lease REIT that leases free-standing retail properties on long-term contracts across all 50 states, with a weighted average remaining lease term above 10 years.

The market lumped NNN in with every other net-lease name that got hit by rates, but the tenant base is sturdier than it looks, and NNN is one of only three publicly traded REITs to have increased its annual dividend for 37 or more consecutive years. Rates are the risk here, and the Fed has been hiking, not cutting. That's exactly why the yield is this high, and you collect it while you wait for the pressure to ease.

Dividend Increases

Waste Connections (WCN) raised its quarterly dividend 10% to $0.385 per share from $0.35, a yield of about 0.9%.

Brown & Brown (BRO) lifted its quarterly dividend 9% to $0.18 per share from $0.165, a yield of about 1.0%.

Matador Resources (MTDR) raised its quarterly dividend 17% to $0.4375 per share from $0.375, a yield of about 3.0%.

Rollins (ROL) raised its quarterly dividend 10% to $0.20 per share from $0.1825, a yield of about 2.6%.

Dividend Decreases

Campbell's (CPB) cut its quarterly dividend 36% to $0.25 per share from $0.39 to speed up debt reduction, a yield of about 5.1% at the new rate.

Diageo (DEO) cut its final dividend 52% to $1.20 per ADS from $2.52, a yield of about 2.2% on the new $2.00 annual rate.

TELUS (TU) reset its quarterly dividend 55% to C$0.1875 per share from C$0.4184 to support debt reduction, a yield of about 6.5% at the new rate.

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*This ad is sent on behalf of Guardian Financial Publishing LLC, doing business as Stable Financial Publishing, 1013 Centre Road Suite 403-D, Wilmington, DE 19805. Nothing here is investment, financial, legal, or tax advice, and it is not a recommendation or solicitation to buy or sell any security. Investing involves substantial risk, including loss of principal; small-cap and low-priced stocks carry particular risk, including the possible loss of your entire investment. Past performance does not guarantee future results. Stable Financial Publishing, its owners, employees and contributors may hold positions in securities mentioned and may trade them at any time. References to Elon Musk and SpaceX are for informational purposes only; Stable Financial Publishing is not affiliated with, endorsed by, or sponsored by Elon Musk or SpaceX. Privacy: https://guardian.pub/privacy-policy/ · Terms: https://guardian.pub/terms-of-service/

REITs are legally required to distribute at least what minimum share of their taxable income to shareholders each year to maintain their tax status?

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Upcoming Dividend Payers

Carrier Global (CARR) goes ex-dividend Thursday, October 29, paying $0.24 per share on November 18.

Humana (HUM) goes ex-dividend Friday, October 30, paying $0.885 per share on November 27.

NiSource (NI) goes ex-dividend Friday, October 30, paying $0.30 per share on November 20.

Everything Else

That’s all for today’s edition of the Dividend Brief.

Thanks for reading, and if you have any feedback or dividend stocks you want me to take a look at, just reply to this email!

—Noah Zelvis
DividendBrief.com