I review the list of dividend increases every week, as part of my monitoring process. This exercise helps me monitor the dividend growth investing universe. This helps me monitor existing positions, and potentially uncover companies for further research.
I focus on those companies that have managed to increase dividends for at least a decade. Over the past week, there were four companies in the US that raised dividends, which also have a ten year track record of annual dividend increases under their belt. The companies include:
Agree Realty Corporation (ADC) is a publicly traded real estate investment trust that is involved in the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants.
The REIT hiked monthly dividends to $0.262/share. This is the 13th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 6%.
Between 2015 and 2024, the REIT grow FFO/share from $2.40 to $3.78.
Agree Realty is expected to generate $4.25/share in FFO in 2025.
The stock sells for 17.65 times forward FFO and a dividend yield of 4.20%
A. O. Smith Corporation (AOS) manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India.
The company increased quarterly dividends by 5.90% to $0.36/share. This is the 32nd year of annual dividend increases for this dividend aristocrat. Over the past five years, the company has managed to grow dividends at an annualized rate of 7.60%.
Between 2015 and 2024, the company managed to grow earnings from $1.59/share to $3.65/share.
The company is expected to earn $3.84/share in 2025.
The stock sells for 18.20 times forward earnings and a dividend yield of 2.07%
Lincoln Electric Holdings, Inc. (LECO) designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group.
The company increased quarterly dividends by 5.30% to $0.79/share. This is the 30th consecutive annual dividend increase for this dividend champion. Over the past five years, the company has managed to grow dividends at an annualized rate of 8.60%.
Between 2015 and 2024, the company grew earnings from $1.70/share to $8.15/share.
Lincoln Electric is expected to earn $9.71/share in 2025.
The stock sells for 24.20 times forward earnings and a dividend yield of 1.34%.
IDACORP, Inc. (IDA) engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States.
The company increased quarterly dividends by 2.30% to $0.88/share. This is the 13th consecutive annual dividend increase for this dividend achiever. Over the past five years, the company has managed to grow dividends at an annualized rate of 5.50%.
Earnings grew from $3.88/share in 2015 to $5.50/share in 2024.
The company is expected to earn $5.85/share in 2025.
The stock sells for 23.23 times forward earnings and a dividend yield of 2.53%.
Relevant Articles:
- Four Dividend Growth Companies Announcing Raises Last Week
