For a dividend investor, there is not much worse than a stock that cuts or eliminates its dividend. Suddenly, the reason you purchased the stock no longer exists. Many dividend investors, myself included, have a hard and fast rule to immediately sell any stock held as income investment if it cuts its dividend. However, when a company freezes its dividend at the current rate, the decision is not as clear-cut. At this point you must look at alternative investments, along with the company's current yield and future outlook.

Here are a few select companies that have avoided a December freeze by increasing the cash dividends paid to their shareholders:

Edison International (NYSE:EIX) generates electricity through hydroelectric, diesel, natural gas, nuclear and photovoltaic sources. On December 10  the company increased its quarterly dividend 14% to $0.48 per share. The dividend is payable January 31, 2016 to stockholders of record on December 31, 2015, with an ex-dividend date of December 29, 2015. The yield based on the new payout is 3.3%.

Universal Health Realty Income Trust (NYSE:UHT) invests in health care and human service related facilities, including acute care hospitals, rehabilitation hospitals, sub-acute facilities, surgery centers, free-standing emergency departments, among others. December 10th the company increased its quarterly dividend 0.8% to $0.645 per share. The dividend is payable December 31, 2015 to stockholders of record on December 21, 2015, with an ex-dividend date of December 17, 2015. The yield based on the new payout is 5.1%.

One Liberty Properties, Inc. (NYSE:OLP), a real estate investment trust (REIT), engages in the acquisition, ownership, and management of commercial real estate properties in the United States. On December 10 the company increased its quarterly dividend 5.1% to $0.41 per share. The dividend is payable January 5, 2016 to stockholders of record on December 23, 2015, with an ex-dividend date of December 21, 2015. The yield based on the new payout is 7.6%.

Bristol-Myers Squibb Company (NYSE:BMY) discovers, develops, licenses, manufactures, markets, distributes and sells biopharmaceutical products worldwide. On December 8 the company increased its quarterly dividend 2.7% to $0.38 per share. The dividend is payable February 1, 2016 to stockholders of record on January 4, 2016, with an ex-dividend date of December 30, 2015. The yield based on the new payout is 2.2%.

Eli Lilly and Company (NYSE:LLY) discovers, develops, manufactures and sells pharmaceutical products worldwide. On December 8 the company increased its quarterly dividend 2% to $0.51 per share. The dividend is payable March 10, 2016 to stockholders of record on February 12, 2016, with an ex-dividend date of February 10, 2016. The yield based on the new payout is 2.4%.

Avago Technologies Limited (NASDAQ:AVGO) designs, develops, and supplies semiconductor devices with a focus on analog III-V based products. December 8th the company increased its quarterly dividend 4.8% to $0.44 per share. The dividend is payable December 30, 2015 to stockholders of record on December 18, 2015, with an ex-dividend date of December 16, 2015. The yield based on the new payout is 1.2%.

The Buckle, Inc. (NYSE:BKE) operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. On December 8 the company increased its quarterly dividend 8.7% to $0.25 per share. The dividend is payable January 27, 2016 to stockholders of record on January 15, 2016, with an ex-dividend date of January 13, 2016. The yield based on the new payout is 3.2%.

Fortune Brands Home & Security, Inc. (NYSE:FBHS) provides home and security products for use in residential home repair, remodeling, new construction, security applications and storage.On December 8 the company increased its quarterly dividend 14% to $0.16 per share. The dividend is payable March 16, 2016 to stockholders of record on February 26, 2016, with an ex-dividend date of February 24, 2016. The yield based on the new payout is 1.2%.

Mid-America Apartment Communities, Inc. (NYSE:MAA) is an independent real estate investment trust investing in apartment communities in the Southeast and Southwest region of the United States.On December 8 the company increased its quarterly dividend 6.5% to $0.82 per share. The dividend is payable January 29, 2016 to stockholders of record on January 15, 2016, with an ex-dividend date of January 13, 2015. The yield based on the new payout is 3.7%.

Marriott Vacations Worldwide Corporation (NYSE:VAC) develops, markets, sells, and manages vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. On December 8 the company increased its quarterly dividend 20% to $0.30 per share. The dividend is payable January 6, 2016 to stockholders of record on December 21, 2015, with an ex-dividend date of December 17, 2015. The yield based on the new payout is 2.0%.

WD-40 Company (NASDAQ:WDFC) develops and sells maintenance products, and homecare and cleaning products, including aerosol sprays, non-aerosol trigger sprays and in liquid form. On December 8 the company increased its quarterly dividend 10% to $0.42 per share. The dividend is payable January 29, 2016 to stockholders of record on January 15, 2016, with an ex-dividend date of January 13, 2016. The yield based on the new payout is 1.7%.

Graco Inc. (NYSE:GGG) designs, manufactures, and markets equipment to pump, meter, mix, and dispense various fluids and coatings worldwide. On December 4 the company increased its quarterly dividend 10% to $0.33 per share. The dividend is payable February 3, 2016 to stockholders of record on January 19, 2016, with an ex-dividend date of January 14, 2016. The yield based on the new payout is 1.8%.

Selecting stocks with increasing dividends is critical for an income growth strategy. The above list contains stocks that recently raised their dividends; it is not a list of recommend buys. As always, due diligence should be performed before buying or selling any stock. For a list of stocks with a long string of consecutive cash dividend increases, see this list.