Global macroeconomic and geopolitical unsteadiness have led to an urgent need for dividend-paying defensive stocks. They have a distinct characteristic of non-cyclicality, i.e., their performance is not overly allied to the larger economy. In particular, large-cap companies that offer products and services with a relatively inelastic demand provide steady returns. Moreover, the very fact that they consistently boost their dividend payouts shows the confidence they have in their earnings growth potential.

Hence, companies with broad economic moats accompanied with inelastic demand for their products almost guarantees long-term earnings growth. The recent no-rate-hike decision from the Federal Reserve has also made dividend paying, as well as raising, stocks alluring.

Let’s take a closer look at four U.S. stocks that have recently hiked dividends.

Lockheed Martin Corp. (LMT – Analyst Report)

Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of follow-on orders from a leveraged presence in the Army, Air Force, Navy and IT programs.

On Sept. 24, the company increased its quarterly dividend yesterday by 10%, bringing the annualized payout to $6.60 per share from $6.00 per share earlier. This is the 13th consecutive annual double-digit increase in Lockheed Martin’s quarterly dividend rate. Along with that, this defense behemoth has also increased its share repurchase authorization by $3 billion.

A politically unstable planet will ensure that the arms merchants will not go out of business. Moreover, the company has fared well in spite of U.S. defense budget cuts over the last couple of years. Earnings for the prime contractor increased about 10.1% in the second quarter of 2015 as it witnessed higher fighter jet demand. The solid first half performance has also enabled it to lift its 2015 outlook for operating profit and earnings.

Market Cap: $63.59 billion
Dividend Yield: 3.2% versus 1.39% for the industry
Payout Ratio (TTM): 51.51% versus 28.60% for the industry
Zacks Rank #2 (Buy)

Microsoft Corp. (MSFT – Analyst Report)