Seven Dividend Growth Companies Raising Dividends Last Week

I review the list of dividend increases every week as part of my monitoring process. This exercise helps me review existing holdings quickly and potentially uncover hidden gems for further research.

It's a prime example of the types of data I use to quickly determine if a company should be placed on my list for further research or not. That's because it shows you all the important drivers behind stock market wealth creation.

Namely, dividends, growth in earnings per share and valuation. The interplay between these three items determine if you are going to make money or not. Your future returns are dependent on finding a good quality company at a good entry valuation, which keeps delivering on its growth, while patiently reinvesting those growing distributions.

Anywho, there were a little over 20 companies raising dividends last week. Seven of these companies managed to increase dividends last week AND also have a ten year track record of annual dividend increases under their belt. The companies include:

Cboe Global Markets, Inc. (CBOE) operates as an options exchange in the United States and internationally. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital.

The company raised quarterly dividends by 14.30% to $0.72/share. This is the 15th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 11.70%.

The company has managed to grow earnings from $2.46/share in 2015 to $7.24/share in 2024.

The company is expected to earn $9.68/share in 2025.

The stock sells for 32.30 times forward earnings and yields 0.52%.

Dover Corporation (DOV) provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. 

The company increased quarterly dividends by 1% to $0.52/share. This is the 70th consecutive year in which this dividend king has increased its annual cash dividend. Over the past decade, the company has managed to grow dividends at an annualized rate of 2.84%.

The company has managed to grow earnings from $5.52/share in 2015 to $10.16/share in 2024.

The company is expected to earn $9.48/share in 2025.

The stock sells for 18.62 times forward earnings and yields 1.18%.

J&J Snack Foods Corp. (JJSF) manufactures, markets, and distributes nutritional snack food and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. It operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages. 

The company raised quarterly dividends by 2.60% to $0.80/share. This is the 20th consecutive annual dividend increase for this dividend achiever. The company has managed to grow dividends at an annualized rate of 8.80% over the past decade.

Between 2015 and 2024, the company managed to grow earnings from $3.76/share to $4.46/share.

The company is expected to earn $4.10/share in 2025.

The stock sells for 27.17 times forward earnings and yields 2.80%.

Martin Marietta Materials, Inc. (MLM) is a natural resource-based building materials company, which supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

The company raised quarterly dividends by 5.10% to $0.83/share. This is the 10th consecutive annual dividend increase for this newly minted dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 6.70%.

The company has managed to grow earnings from $4.31/share in 2015 to $32.49/share in 2024.

The company is expected to earn $18.87/share in 2025.

The stock sells for 32.30 times forward earnings and yields 0.52%.

MGE Energy, Inc. (MGEE) operates as a public utility holding company in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments.

The company hiked quarterly dividends by 5.60% to $1.90/share. This marked the 50th consecutive year of annual dividend increases for this newly minted dividend king. Over the past decade, the company has managed to grow dividends at an annualized rate of 4.70%.

The company managed to grow earnings from $2.06/share in 2015 to $3.33/share in 2024.  It's on track to earn $3.58/share in 2025.

The stock sells for 23.50 times forward earnings and yields 2.15%.

RB Global, Inc. (RBA) operates a marketplace that provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. 

The company raised quarterly dividends by 6.90% to $0.31/share. This is the 23rd consecutive annual dividend increase for this dividend achiever. Over the past decade the company has managed to grow dividends at an annualized rate of 9.25%.

The company managed to grow earnings from $1.7/share in 2015 to $2.91/share in 2024.

The company is expected to earn $5.03/share in 2025.

The stock sells for 31.55 times forward earnings and yields 1.07%.

United Community Banks, Inc. (UCB) operates as the bank holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors in the United States. 

The company raised quarterly dividend by 4.20% to $0.25/share. This is the 11th consecutive annual dividend increase for this dividend achiever. Over the past 5 years, the company has managed to grow dividends at an annualized rate of 7.10%.

The company has managed to grow earnings from $1.09/share in 2015 to $2.04/share in 2024.

The company is expected to earn $2.65/share in 2025.

The stock sells for 11.77 times forward earnings and yields 3.08%.

Relevant Articles:

- Six Dividend Growth Stocks Raising Dividends Last Week

- Twenty Dividend Growth Companies Rewarding Owners With Raises Last Week

- Fifteen Dividend Companies Raising Distributions Last Week

- Four Dividend Growth Stocks Increasing Dividends Last Week

Six Dividend Growth Stocks Raising Dividends Last Week

I review the list of dividend increases every week as part of my review process.

There were 35 dividend increases over the past week. Six of these companies have managed to raise dividends for at least ten consecutive years. The companies include:

Badger Meter, Inc. (BMI) manufactures and markets flow measurement, quality, control, and communication solutions worldwide. 

Badger Meter raised quarterly dividends by 18% to $0.40/share. This is the 33rd consecutive year of dividend increases for this dividend champion. During the past decade, the company has managed to grow dividends at an annualized rate of 13.60%.

Between 2015 and 2024, the company has managed to grow earnings from $0.90/share to $4.26/share.

The company is expected to earn $4.79/share in 2025.

The stock sells for 39.25 times forward earnings and yields 0.85%.

Broadridge Financial Solutions, Inc. (BR) provides investor communications and technology-driven solutions for the financial services industry in the United States and internationally. 

Broadridge Financial raised quarterly dividends by 10.80% to $0.975/share. This is the 19th consecutive annual dividend increase for this dividend achiever. During the past decade, the company has managed to grow dividends at an annualized rate of 12.54%.

Between 2016 and 2025, the company has managed to grow earnings from $2.60/share to $7.70/share.

The company is expected to earn $9.39/share in 2025.

The stock sells for 28.41 times forward earnings and yields 1.46%.

Carlisle Companies Incorporated (CSL) operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, and internationally. It operates through two segments, Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT). 

Carlisle Companies raised quarterly dividends by 10% to $1.10/share. This was the 49th consecutive annual dividend increase for this dividend champion. During the past decade, the company has managed to grow dividends at an annualized rate of 14.87%.

Between 2015 and 2024, the company has managed to grow earnings from $4.89/share to $28.17/share.

The company is expected to earn $20.34/share in 2025.

The stock sells for 17.44 times forward earnings and yields 1.20%.

Federal Realty (FRT) is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as Northern and Southern California. 

Federal REIT raised quarterly dividend by 2.70% to $1.13/share. This is the 58th consecutive year of dividend increases for this dividend king. The company has managed to grow dividends by an annualized rate of 2.37% over the past decade.

Between 2015 and 2024, the REIT has managed to grow FFO from $5.05/share to $6.77/share

It's expected to generate $7.17/share in FFO in 2025.

The stock sells for 13 times forward FFO and yields 4.81%.

Open Text Corporation (OTEX) designs, develops, markets, and sells information management software and solutions in North, Central, and South America, Europe, the Middle East, Africa, Australia, Japan, Singapore, India, China, and internationally. 

Open Text raised the quarterly dividend by 4.80% to $0.275/share. This was the 12th consecutive annual dividend increase for this dividend achiever. During the past decade, the company has managed to grow dividends at an annualized rate of 13.17%.

Between 2015 and 2024, the company has managed to grow earnings from $1.20/share to $2.34/share.

The company is expected to earn $5.53/share in 2025.

The stock sells for 7.12 times forward earnings and yields 3.55%.

Terreno Realty Corporation (TRNO) acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. 

Terreno Realty increased quarterly dividend by 6.10% to $0.52/share. This was the 14th consecutive annual dividend increase for this dividend achiever. During the past decade, the company has managed to grow dividends at an annualized rate of 12.20%.

FFO/share increased from $0.84 in 2015 to $2.43 in 2024. The company is expected to generate $2.59/share in FFO in 2025.

The stock sells for 21.08 times forward FFO and yields 3.59%.

Relevant Articles:

- Fifteen Dividend Companies Raising Distributions Last Week

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- Nine Dividend Achiever Banks Raising Dividends After Passing the Fed's Stress Tests

Twenty Dividend Growth Companies Rewarding Owners With Raises Last Week

I review the list of dividend increases every single week, as part of my monitoring process. This process helps me check the pulse of the dividend growth investing universe.

It's helpful to monitor developing trends in newer companies, and to monitor trends in more established ones as well. The dividend increase provides strong signaling signal to me, as to the direction of the business. It's particularly helpful when compared to historical averages. For even more context, it's helpful to take it one step further and review ten year trends in financials such as earnings per share, dividends per share, dividend payout ratios etc. Last but not least, you have to look at valuation, which is more art than science.

Anyways, last week there were 41 companies in North America that raised dividends to shareholders. Twenty of these companies have a minimum ten year streak under their belts. The companies include:

This list is not a recommendation to buy or sell stocks. It is simply a list of companies that raised dividends last week. The companies listed have managed to grow dividends for at least ten years in a row.

The next step in the process would be to review trends in earnings per share, in order to determine if the dividend growth is on strong ground. Rising earnings per share provide the fuel behind future dividend increases.

This should be followed by reviewing the trends in dividend payout ratios, in order to check the health of dividend payments. A rising payout ratio over time shows that future dividend growth may be in jeopardy. There is a natural limit to dividends increasing if earnings are stagnant or if dividends grow faster than earnings.

Obtaining an understanding behind the company’s business is helpful, in order to determine how defensible the dividend will be during the next recession. Certain companies are more immune to any downside, while others follow very closely the rise and fall in the economic cycle.

Of course, valuation is important, but it is more art than science. P/E ratios are not created equal. A stock with a P/E of 10 may turn out to be more expensive than a stock with a P/E of 30, if the latter is growing earnings and the former isn’t. Plus, the low P/E stock may be in a cyclical industry whose earnings will decline during the next recession, increasing the odds of a dividend cut. The high P/E company may be in an industry where earnings are somewhat recession resistant, which means that the likelihood of dividend cuts during the next recession is lower.

Relevant Articles:

- Fifteen Dividend Companies Raising Distributions Last Week

- Seven Dividend Growth Stocks Raising Dividends Last Week

- Four Dividend Growth Stocks Increasing Dividends Last Week

- Nine Dividend Achiever Banks Raising Dividends After Passing the Fed's Stress Tests