Although there were a few banks and insurance companies that cut or eliminated their dividends last week, there were plenty of companies that raised their dividends during election week.

Stockpickr has reviewed all the dividend declarations for the last week and compiled a portfolio of the top dividend-increasers for the week.

The top dividend-increaser was Emerson Electric (EMR), which boosted its quarterly dividend by 19% to 33 cents per share. The company, which designs and manufactures technology products and offers engineering services, just announced that its quarterly profit rose 10% from the same period last year, on a 12% increase in sales. The stock has a P/E of 11, a PEG of 0.84 and a yield of 4.1%.

Emerson is owned by Optimum Growth Advisors, an investment company whose objective is to buy and hold the "companies that are in the process of defining their industries and leading them into the future," with a goal of "doubling in value every 5 to 6 years." Optimum also owns 3M (MMM), with a yield of 3.1%; Goldman Sachs Group (GS), with a 1.8% yield; and Procter & Gamble (PG), with a 2.5% yield.

Another dividend-increaser is Perrigo (PRGO), which makes and markets over-the-counter and prescription pharmaceuticals, nutritional products and other consumer products. It bumped up its dividend by 10% to 5.5 cents per share. The company reported record first-quarter sales and earnings, with revenues increasing by 25% for the latest quarter. The stock has a P/E of 22, a PEG ratio of 0.8 and a yield of 0.6%.

Perrigo is in the portfolio of the Royce Heritage Service Fund, which has a Morningstar rating of four stars and is managed by Charles Royce. The fund has had an average annual return of 14.3% over the last five years. It also owns Ritchie Bros. Auctioneers (RBA), with a 1.9% yield; Brown & Brown (BRO), with a 1.4% yield; and Tennant (TNC), with a 2.3% yield.

Aqua America (WTR) also increased its dividend. The water utility, which has customers in Florida, Illinois, North Carolina, Ohio, Pennsylvania, Texas, New Jersey, New York, Indiana, Virginia, Maine, Missouri and South Carolina, raised its dividend by 8% to 13.5 cents per share. The company was just downgraded by Janney Montgomery Scott. It has a P/E of 25, a PEG of 3.05 and a yield of 3%.

The stock shows up in an interesting Stockpickr portfolio called Water/water, which includes stocks involved in the infrastructure, service and purification of water. Other stocks in the portfolio include Watts Water Technologies (WTS), with a yield of 1.8%, and Jacobs Engineering Group (JEC) and Waters (WAT), neither of which pays a dividend.

For more ideas, check out the top dividend-increasers for the week portfolio at Stockpickr.com.

Posted on Nov. 10, 2008