January continues to be a great month in terms of dividend news and Tuesday was a particularly strong day with several noteworthy companies announcing dividend hikes or new dividends. Let's take a look at some of the day's dividend news.

Network equipment maker Tellabs (Nasdaq: TLAB) said it earned $62 million, or 16 cents a share, in the fourth quarter. Excluding one-time items, the company earned nine cents a share, beating analyst estimates of seven cents a share. Tellabs has been cutting costs and lowering its headcount over the past several years and as a result, the company has the cash to pay its first-ever dividend. Tellabs will pay two cents a share on February 26th to shareholders of record on February 12th.

Pest control company Rollins (NYSE: ROL) boosted its quarterly payout by nearly 29% to nine cents a share. The new dividend will be paid on March 10th to shareholders of record on February 10th.

Railroad operator Canadian National Railway (NYSE: CNI) said fourth-quarter results beat analyst estimates and that it expects double-digit earnings growth in 2010. The company boosted its quarterly dividend by seven percent to just over 25 cents a share.

Calamos Asset Management (Nasdaq: CLMS) booked a fourth-quarter profit after posting a loss in the year earlier period and the company boosted its quarterly payout by 36% to 7.5 cents a share from 5.5 cents. The new dividend is payable on February 24th to shareholders of record on Feb 9th.

Oil and gas explorer Vanguard Natural Resources (NYSE: VNR) raised its 2009 profit view by $6 million and said it will boost its fourth-quarter dividend to 52.5 cents a share from 50 cents.