I review the list of dividend increases every single week, as part of my monitoring process. This exercise helps me to monitor existing holdings. It also helps me potentially identify companies for further research.
I typically focus my attention on the companies with a ten year track record of annual dividend increases.
Over the past week, there were seven companies that both raised dividends to shareholders and also have a ten year streak of consecutive annual dividend increases. I have included a short summary behind each company, the raise, and the type of fundamental and valuation information I use to quickly decide if a company should be placed on my list for research or not.
The nine companies are listed below:
Community Financial System, Inc. (CBU) operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, institutional, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other.
The company raised quarterly dividends by 2.2% to $0.47/share. This is the 33rd consecutive year of dividend increases for this dividend champion. The annualized dividend growth rate over the past decade is 4.73%.
The company managed to grow earnings from $2.21/share in 2015 to $3.45/share in 2024.
The company is expected to earn $4.08/share in 2025.
The stock sells at 14.33 times forward earnings and has a dividend yield of 3.15%.
Cummins Inc. (CMI) offers various power solutions worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera.
The company raised quarterly dividends by 9.90% to $2/share. This is the 20th consecutive year of dividend increases for this dividend achiever. The annualized dividend growth rate over the past decade is 9.56%.
The company managed to grow earnings from $7.86/share in 2015 to $28.55/share in 2024.
The company is expected to earn $21.05/share in 2025.
The stock sells at 16.54 times forward earnings and has a dividend yield of 2.30%.
Duke Energy Corporation (DUK) operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I); and Gas Utilities and Infrastructure (GU&I).
The company raised quarterly dividends by 1.90% to $1.065/share. This is the 21st consecutive annual dividend increase for this dividend achiever. The annualized dividend growth rate over the past decade is 2.77%.
The company managed to grow earnings from $4.06/share in 2015 to $5.70/share in 2024.
The company is expected to earn $6.32/share in 2025.
The stock sells at 18.59 times forward earnings and has a dividend yield of 3.63%.
NNN REIT (NNN) invests in high-quality properties subject generally to long-term, net leases with minimal ongoing capital expenditures.
This REIT increased the quarterly dividend by 3.40% to $0.60/share. This dividend champion has increased its annual dividend for 36 consecutive years. The annualized dividend growth rate over the past decade is 3.33%.
NNN REIT managed to grow FFO fom $2.22/share in 2015 to $3.32/share in 2024.
The company is expected to generate $3.38/share in FFO in 2025.
The stock sells at 12.64 times forward FFO and has a dividend yield of 5.62%.
PPG Industries, Inc. (PPG) manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through three segments: Global Architectural Coatings, Performance Coatings, and Industrial Coatings.
The company raised quarterly dividends by 4.40% to $0.71/share. This is the 54th consecutive annual dividend increase for this dividend king. The annualized dividend growth rate over the past decade is 7.34%.
The company's earnings went from $5.18/share in 2015 to $4.77/share in 2024.
The company is expected to earn $7.86/share in 2025.
The stock sells at 14.77 times forward earnings and has a dividend yield of 2.34%.
The J. M. Smucker Company (SJM) manufactures and markets branded food and beverage products worldwide. The company operates through four segments: U.S. Retail Coffee, U.S. Retail Frozen Handheld and Spreads, U.S. Retail Pet Foods, and Sweet Baked Snacks.
The company increased the quarterly dividend by 1.90% to $1.10/share. This is the 28th consecutive annual dividend increase for this dividend champion. The annualized dividend growth rate over the past decade is 5.78%.
The company's earnings went from $5.77/share in 2015 to a loss of $11.57/share in 2024, driven by one-time charges.
The company is expected to earn $9.22/share in 2025.
The stock sells at 11.82 times forward earnings and has a dividend yield of 3.97%.
Union Pacific Corporation (UNP) Union Pacific Railroad Company, operates in the railroad business in the United States.
The company announced a 3% dividend increase to the quarterly dividends to $1.38/share. This dividend achiever has managed to increase annual dividends for 19 years in a row. The annualized dividend growth rate over the past decade is 11.33%.
The company's earnings went from $5.51/share in 2015 to $11.10/share in 2024.
The company is expected to earn $11.58/share in 2025.
The stock sells at 19.64 times forward earnings and has a dividend yield of 2.36%.
Relevant Articles:
- Four Dividend Growth Stocks Increasing Dividends Last Week
