The dividend achievers index is comprised of companies based in the US, which have increased their annual dividends for ten or more consecutive years. I typically look for companies which have raised distributions for at least ten years in a row, before considering a stock for potential addition to my portfolio. My reasoning is that only a company which has a strong business model characterized by stable and growing earnings can afford to consistently increase dividends every year for one decade. However, I still try to keep ahead by getting acquainted with the companies which might be eligible for inclusion in the list a few years from now.
There were four companies which have raised dividends for over five years in a row, which also announced that their Boards have approved dividend hikes over the past week:
General Mills, Inc. (GIS) engages in the manufacture and marketing of branded consumer foods worldwide. The company’s Board of Directors approved an 8.90 % dividend increase to 30.50 cents/share. This dividend stock has raised distributions for 8 years in a row. Yield: 3.30%
Oil-Dri Corporation of America (ODC) engages in the development, manufacture, and marketing of sorbent products in the United States and internationally. The company’s Board of Directors approved a 6.30% dividend increase to 17 cents/share. This dividend stock has raised distributions for 9 years in a row. Yield: 3.20%
Darden Restaurants, Inc. (DRI), through its subsidiaries, owns, operates, and franchises full service restaurants in the United States and Canada. The company’s Board of Directors approved a 34.40% dividend increase to 43 cents/share. This dividend stock has raised distributions for 7 years in a row. Yield: 3.50%
Full Disclosure: None