Earlier this week, I shared with you a list of 24 dividend champions, which I believed to be worthy for further research. These companies are attractively valued, have each managed to grow distributions for at least a quarter of a century. In addition, their dividends are secure, being raised by dependable earnings growth.
Today, I am going to delve into the list of dividend contenders. A dividend contender is a company, which has managed to grow dividends for at least a decade (but far less than 25 years). There are currently 220 dividend contenders. If you add in the list of dividend champions, we have 335 companies in the US, which have managed to grow dividends every single year for at least a decade.
This is a solid starting point for any serious dividend investor, who is looking for a group of quality companies for further research.
To create the list I shared with you today, I went through the following process:
1) Obtained the list of dividend contenders from dripinvesting.org
2) Dump it into a Yahoo! Finance custom portfolio that I downloaded to excel.
3) Remove companies where trailing P/E ratio was below 20
4) Removed companies where the dividend payout ratio was above 60%
5) Added information for the 5 and 10 year annual dividend growth rates
As a result, I came up with 65 dividend contenders for further research.
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