First United Corporation

First United Corporation, Fifth Third Bancorp and McDonald's Corporation are the three dividend stocks in focus after each declared a dividend hike. First United Corporation announced on Sept. 23 that shareholders would receive a dividend of $0.28 a share on Nov. 2, giving FUNC a dividend yield of 2.43% and a payout ratio of 24% of earnings. Fifth Third Bancorp declared on Sept. 17 a dividend of $0.42 a share payable Oct. 15, with FITB carrying a dividend yield of 3.10% and a payout ratio of 41% of earnings. McDonald's announced on Sept. 17 a dividend of $1.93 a share payable Dec. 15, with MCD showing a dividend yield of 3.12% and a payout ratio of 59% of earnings. The dividend declarations come as Wall Street remains volatile, with the Federal Reserve having raised interest rates by a quarter percentage point to a target range of 3.75% to 4% and signaling more hikes could follow as inflation persists.

First United has declared a quarterly dividend of 26 cents per share, in line with the previous payout. The dividend is payable on August 3 to shareholders of record as of July 20, with the ex-dividend date also set for July 20. The forward yield stands at 2.55 percent. This marks the fourth consecutive quarter that the company has announced a dividend of 26 cents per share.