I review the list of dividend increases weekly, in an effort to monitor the existing dividend growth investing universe from a different angle. This piece fits perfectly with my existing system of screening for and monitoring existing holdings. Dividend increases have signaling power, which can help observe managements assessment of the business environment. It takes a trained eye to study and decipher the tea leaves however. And just like any other type of indicator, it is never going to be 100% foolproof.
As part of my monitoring process, I do focus only on the more established dividend growth companies. This means that I focus on the companies that have at least a ten year track record of annual dividend increases under their belts.
Over the past week, there were eight companies in the US that raised dividends and also have a ten year track record of annual dividend increases. The companies include:
Aflac Incorporated (AFL) provides supplemental health and life insurance products. The company operates in two segments, Aflac Japan and Aflac U.S.
The company raised its quarterly dividends by 5.20% to $0.61/share. This is the 43rd year of consecutive annual dividend increases for this dividend aristocrat. Aflac has managed to grow dividends by 10.45%/year over the past decade.
Between 2015 and 2024, Aflac has managed to grow earnings from $2.94/share to $9.68/share.
The company is expected to earn $7.49/share in 2025.
The stock sells for 15.30 times forward earnings and a dividend yield of 2.13%.
Assurant, Inc. (AIZ) provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific. It operates in two segments, Global Lifestyle and Global Housing.
The company hiked quarterly dividends by 10% to $0.88/share. This is the 21st consecutive annual dividend increase for this dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 10.82%.
Between 2015 and 2024, the company raised quarterly dividends by $2.08/share to $14.55/share.
The company is expected to earn $19.59/share in 2025.
The stock sells at 11.70 times forward earnings and yields 1.54%.
Automatic Data Processing, Inc. (ADP) provides cloud-based human capital management (HCM) solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO).
The company raised quarterly dividends by 10.40% to $1.70/share. This marks the 51st consecutive year in which this dividend king raised dividends. ADP has managed to grow dividends at an annualized rate of 12.76% over the past decade.
Between 2016 and 2025, the company has managed to grow earnings from $3.27/share to $10.02/share.
The company is expected to earn $10.91/share in 2025.
The stock sells for 23.20 times forward earnings and yields 2.70%.
Farmers & Merchants Bancorp (FMCB) operates as the bank holding company for Farmers & Merchants Bank of Central California that provides various banking services to businesses and individuals in the United States.
The company raised quarterly dividends by 1% to $5.05/share. This is the 60th consecutive year of annual dividend increases for this dividend king. Over the past decade, the company has managed to grow dividends at an annualized rate of 3.40%.
Between 2015 and 2024, the company managed to grow earnings from $34.82/share to $121.02/share.
The stock sells at 7.83 times earnings and a dividend yield of 1.96%.
First National Corporation (FXNC) operates as the bank holding company for First Bank that provides various commercial banking services to small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia.
The company hiked quarterly dividends by 9.70% to $0.17/share. This is the 11th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 23.20%. However, that was possible due to re-starting paying dividends again from a very low base in 2014.
Between 2015 and 2024, the company managed to grow earnings from $0.31/share to $1/share.
The company is expected to earn $1.96/share in 2025.
The stock sells for 12.35 times forward earnings and yields 2.82%.
Haverty Furniture Companies, Inc. (HVT) operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name.
The company raised quarterly dividends by 3.10% to $0.33/share. This is the 13th consecutive year of annual dividend increases for this dividend achiever. The company has managed to grow dividends at an annualized rate of 14.69% over the past decade.
Between 2015 and 2024, the company's earnings moved from $1.24/share to $1.22 (they have remained stagnant). The high growth in dividends was only possible due to expanding the payout ratio. Future dividend growth will be limited to what earnings growth will be, if any.
The company is expected to earn $1.17/share in 2025.
The stock sells at 19.36 times forward earnings and a dividend yield of 5.85%.
Spire Inc. (SR) engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream.
The company increased quarterly dividends by 5.10% to $0.825/share. This is the 23rd consecutive year of annual dividend increases for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 5.55%.
Between 2016 and 2025, the company managed to grow earnings from $3.26/share to $4.39/share.
The company is expected to earn $5.20/share in 2026.
The stock sells for 16.70 times forward earnings and a dividend yield of 3.79%.
Tyson Foods, Inc. (TSN) operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods.
The company raised quarterly dividends by 2% to $0.51/share. This is the 14th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to raise dividends at an annualized dividend growth of 19.75%.
Between 2016 and 2025, earnings dropped from $4.59/share to $1.33/share.
The company expects to earn $3.90/share in 2026.
The stock sells for 13.80 times forward earnings and a dividend yield of 3.78%.
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