Investing in high-yielding dividend stocks can be a great way to grow your wealth.

In fact, these stocks allow investors to profit in two ways: one, through potential appreciation of the stock price, and two, through dividend distributions. Better, many dividend paying companies also have a good amount of cash and hand, and are typically strong companies with good prospects for long-term growth.

Two of those companies just raised their dividends last week.

Altria Group (MO), for example, just boosted its quarterly dividend to 94 cents a share from 90 cents.  The quarterly dividend is payable on October 11, 2022 to shareholders of record as of September 15, 2022. The ex-dividend date is September 14, 2022.The new annualized dividend rate is $3.76 per share, representing a dividend yield of 8.2%.

Lam Research (LRCX) also just raised its quarterly dividend to $1.725 per share, up from $1.50.  The dividend payment will be made October 5, 2022 to holders of record on September 14, 2022.

PepsiCo (PEP) also raised its dividend a quarterly dividend of $1.15 a share.  This dividend is payable on September 30, 2022to shareholders of record at the close of business on September 2, 2022. PepsiCo has paid consecutive quarterly cash dividends since 1965, and 2022 marked the company’s 50th consecutive annual dividend increase.

These are just some of the top dividend-paying stocks to consider as markets get crazed.