Wall Street is witnessing a solid rally in October after a highly disappointing September. However, we are not out of the woods. Market participants remain concerned about the Fed’s decision about the future course of interest rate movement.

The Fed has hiked the benchmark lending rate by 3% so far this year. Yet the inflation rate has stayed at a 40-year high. The yields on the short-term 2-Year U.S. Treasury Note and the benchmark 10-Year U.S. Treasury Note remain elevated at a 14-year high. Socket Weld Raised Face Flange

The U.S. consumer confidence index dropped to a three-month low. The ISM manufacturing PMI is declining for the last three months. Moreover, manufacturers and retailers are accumulating huge inventories.

Despite a tight labor market, job openings have been declining. Several U.S. corporate behemoths have either started retrenching manpower or have given indication of doing so in the near future. Investors are highly worried about an imminent recession.

At this stage, dividend-paying stocks should be in huge demand as investors try to safeguard their portfolios. We believe one should consider stocks that have recently raised their dividend payments. Five such companies are Hubbell Inc. HUBB, Middlesex Water Co. MSEX, Mueller Water Products Inc. MWA, Visa Inc. V and Rollins Inc. ROL.

Hubbell is engaged in the design, manufacture and sale of electrical and electronic products to commercial, industrial, utility and telecommunications markets. HUBB’s products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment and voice and data signal processing components.

Hubbell operates through two segments — Electrical Solution and Utility Solution. HUBB currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

On Oct 21, 2022, Hubbell declared that its shareholders would receive a dividend of $1.12 per share on Dec 15, 2022. HUBB has a dividend yield of 2%. Over the past 5 years, Hubbell has increased its dividend six times, and its payout ratio presently stays at 45% of earnings. Check HUBB’s dividend history here.

Hubbell Inc dividend-yield-ttm | Hubbell Inc Quote

Middlesex Water owns and operates regulated water utility and wastewater systems. MSEX operates in two segments — Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware.

The Non-Regulated segment provides non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. MSEX currently carries a Zacks Rank #3 (Hold).

On Oct 21, 2022, Middlesex Water declared that its shareholders would receive a dividend of $0.313 per share on Dec 1, 2022. MSEX has a dividend yield of 1.5%. Over the past 5 years, Middlesex Water has increased its dividend six times, and its payout ratio presently stays at 52% of earnings. Check MSEX’s dividend history here.

Middlesex Water Company dividend-yield-ttm | Middlesex Water Company Quote

Mueller Water Products manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. MWA’s broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. MWA currently carries a Zacks Rank #3.

On Oct 21, 2022, Mueller Water Products declared that its shareholders would receive a dividend of $0.061 per share on Nov 21, 2022. MWA has a dividend yield of 2.21%. Over the past 5 years, Mueller Water Products has increased its dividend five times, and its payout ratio presently stays at 39% of earnings. Check MWA’s dividend history here.

MUELLER WATER PRODUCTS dividend-yield-ttm | MUELLER WATER PRODUCTS Quote

Visa’s numerous buyouts and alliances paved the way for long-term growth and consistently drove its revenues. Constant investments in technology are solidifying V’s position in the payments market. A shift in payments to the digital mode is a boon. Backed by a strong cash position, Visa remains committed to boosting its shareholder value through share buybacks and dividend payments. V currently carries a Zacks Rank #3.

On Oct 25, 2022, Visa declared that its shareholders would receive a dividend of $0.45 per share on Dec 1, 2022. V has a dividend yield of 0.92%. Over the past 5 years, Visa has increased its dividend six times, and its payout ratio presently stays at 21% of earnings. Check V’s dividend history here.

Visa Inc. dividend-yield-ttm | Visa Inc. Quote

Rollins provides pest and termite control services to residential and commercial customers. ROL offers protection against termite damage, insects and rodents to homes and businesses, including food manufacturers, food service establishments, hotels, transportation companies and retailers.

Rollins also offers pest management and sanitation products and services to food and commodity industries, consulting services on border protection related to Australia's biosecurity program and bird control and specialist services.

On Oct 25, 2022, Rollins declared that its shareholders would receive a dividend of $0.13 per share on Dec 9, 2022. ROL has a dividend yield of 1.45%. Over the past 5 years, Visa has increased its dividend five times, and its payout ratio presently stays at 59% of earnings. Check ROL’s dividend history here.

Rollins, Inc. dividend-yield-ttm | Rollins, Inc. Quote

Black Pipe And Fittings Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report   Visa Inc. (V) : Free Stock Analysis Report   Rollins, Inc. (ROL) : Free Stock Analysis Report   Middlesex Water Company (MSEX) : Free Stock Analysis Report   MUELLER WATER PRODUCTS (MWA) : Free Stock Analysis Report   Hubbell Inc (HUBB) : Free Stock Analysis Report   To read this article on Zacks.com click here.   Zacks Investment Research