These 3 Mega-Cap Giants Just Increased Dividends by 7% or More

Several of the biggest companies in the world just announced substantial dividend increases. The three dividend-raising companies listed below are all “mega-cap” stocks; their market capitalizations exceed $200 billion. These firms are not only mega caps, but they are also the world’s most valuable stocks in their respective industries.

Let’s dive into these behemoth companies below that are giving income investors more to like. All data is as of the September 22 close unless otherwise indicated.

MSFT Lifts Dividend 10%, Indicated Yield Tops the Mag 7

First up is the world’s most valuable software stock, Microsoft (NASDAQ: MSFT). The stock has notch an impressive total return of approximately 23% in 2025. The success of its Intelligent Cloud segment, which contains Microsoft’s Azure business, has largely driven this. 

Intelligent Cloud has consistently been Microsoft’s fastest-growing segment over recent quarters. Impressively, growth accelerated to nearly 26% last quarter, compared to 21% in the quarter prior.

On September 15, the company declared a $0.91 quarterly dividend, an assertive 10% increase over its previous payout. The new dividend is payable on December 11 to shareholders of record as of November 20.

This moves the company’s indicated dividend yield, or the yield investors can expect at current prices with four $0.91 quarterly payments, to 0.7%. Surely, this doesn’t position Microsoft as a high-yield name; the S&P 500 Index’s indicated yield is approximately 1%.

However, Microsoft’s yield is clearly the highest among all stocks in the Magnificent Seven. Apple (NASDAQ: AAPL) ranks as a somewhat distant second in this group, yielding approximately 0.4%.

JPM Issues Second Dividend Increase of 2025 After +30% Gain

JPMorgan Chase & Co. (NYSE: JPM) is the world’s second most valuable stock in the financial sector and the world’s most valuable banking stock. In 2025, JPMorgan has handily beaten out the market, providing a total return of over 32%.

Meanwhile, the S&P 500 Index has a total return of around 15%. JPM has been seeing strong growth across most of its key business segments, with particular strength in trading and investment banking.  On September 16, the company declared a $1.50 quarterly dividend, a 7.1% increase over its previous $1.40 payment. The new dividend is payable on October 31 to shareholders of record as of the close of business on October 6.

This is the second time JPMorgan has increased its dividend in 2025. Thus, the latest declared dividend is a 20% increase over the company’s equivalent payment 2024. Overall, the firm’s indicated yield now stands at an excellent 1.9%. 

This is strongly above the 1.2% indicated yield of the Financial Select Sector SPDR Fund (NYSEARCA: XLF). XLF is a commonly used barometer of the U.S. large-cap financial sector. The stock’s yield is also slightly above the average indicated yield of mega-cap U.S. financial stocks, which is approximately 1.8%.

PM Boosts Yield to Over 3.5% After Latest Dividend Increase

Last up is Philip Morris International (NYSE: PM), one of only eight global mega-cap stocks in the consumer staples sector. The firm’s $254 billion market capitalization also positions it as by far the world’s most valuable stock in the tobacco industry. 

Demonstrating the company’s dominance is the fact that it is more valuable than the next two largest players, British American Tobacco (NYSE: BTI) and Altria Group (NYSE: MO), combined. In 2025, Philip Morris achieved a staggering 37% total return. 

The massive growth of its ZYN nicotine pouch product has been instrumental to the stock’s rise. In Q2, ZYN shipments rose by 43% to nearly 215 million cans, while cigarette shipments dropped by 1.5%.

On September 19, the company declared a $1.47 quarterly dividend, payable on October 20 to shareholders of record as of October 3. This is a significant 8.9% increase versus the firm’s previous dividend.

The firm’s indicated yield moves up to a very notable 3.6%. 

Even in a sector characterized by high dividend yields, Philip Morris more than holds its own. It’s yield is solidly above the median yield of dividend-paying U.S. large-cap consumer staples stocks, which sits at around 3.1%.

MSFT, JPM, PM: Providing Returns through Appreciation and Income

Clearly, Microsoft, JPMorgan, and Philip Morris are all making strong gestures to shareholders, substantially lifting their dividends. Their price gains have recently created a sought-after combination: strong appreciation and income generation.

Companies Mentioned in This Article:

Company	Current Price	Price Change	Dividend Yield	P/E Ratio	Consensus Rating	Consensus Price Target
Microsoft (MSFT)	$509.23	-1.0%	0.65%	37.33	Moderate Buy	$612.54
JPMorgan Chase & Co. (JPM)	$312.53	+0.0%	1.79%	16.04	Moderate Buy	$292.78
Philip Morris International (PM)	$163.87	+1.2%	3.30%	31.15	Moderate Buy	$184.91

About Leo Miller

Experience

Leo Miller has been a contributing writer for DividendStocks.com since 2024.

• Professional Background: Leo Miller is a financial writer with a background in investment research and market analysis. He has held roles as an investment research associate at Laird Norton Wetherby and as a research analyst at Sungarden Investment Publishing, where he gained hands-on experience evaluating equities and portfolio strategies.
• Credentials: He holds a Bachelor of Business Administration in Finance from the University of Washington’s Foster School of Business, a top-ranked public business school. He has passed the CFA Level II exam.
• Finance Experience: Leo began researching and investing in gold mining stocks in 2019 and started writing about finance and investing in 2021. He joined DividendStocks.com as a contributing writer in 2024, where he covers both stocks and ETFs. A strong research foundation and direct exposure to financial markets shape his perspectives.
• Writing Focus: He specializes in tech stocks, dividend-paying companies, ETFs, and value-oriented opportunities. His work emphasizes clarity, actionable insights, and education for investors at all levels.
• Investment Approach: Leo follows a disciplined, long-term investing strategy rooted in fundamental analysis, with a strong focus on economics, sector and industry research, and passive investing principles.
• Inspiration: Leo finds the stock market endlessly compelling and enjoys the challenge of separating meaningful data from noise. He’s passionate about analyzing what makes businesses stand out—and sharing those insights to guide informed investment decisions. As he puts it, “Performing strong analysis requires separating the wheat from the chaff.”
• Fun Fact: Leo credits his grandfather for sparking his interest in investing and is a lifelong animal lover.
• Areas of Expertise: Fundamental analysis, economics, industry and sector analysis

 

Education

Bachelor in Business Administration, Finance, Foster School of Business at University of Washington