Five Dividend Growth Stocks Raising Dividends Last Week

I review the list of dividend increases every single week, as part of my monitoring process. This exercise helps visualize what key drivers I look for in dividend growth stocks, and also how I review them for fundamentals and valuation. 

Ultimately, returns are a function of:

1. Dividends

2. Earnings Per Share Growth

3. Change in valuation

As a long-term investor, I look for companies that grow earnings and dividends, and try to acquire them at a good price. Afterwards, the goal is to sit back, and let the power of compounding do the heavy lifting for me.

I expect to be wrong 40% - 60% of the time, but I do expect that I will be right on the remainder. The remainder of winners will more than compensate for any losers, and then some. I rarely know which of the companies will be the biggest successes, which is why I take a lot of shots, I diversify, and I hold for as long as possible. I also manage risk by limiting downside, but letting the upside grow with as little limitation on my end as possible.

Anywho, over the past week, there were five dividend growth companies which both raised dividends and also have managed to increase dividends annually for at least ten years in a row. The companies include:

Bank OZK (OZK) operates as a full-service Arkansas state-chartered bank that provides retail and commercial banking services in the United States.

Bank OZK raised quarterly dividends by 2.30% to $0.45/share. The bank has raised dividends for 61 consecutive quarters and 27 consecutive years. Over the past decade, this dividend champion has managed to grow dividends at an annualized rate of 12.90%.

The new payment is 9.75% higher over the dividend paid during the same time last year.

The bank earned $2.10/share in 2015 and managed to grow it to $6.16/share in 2024.

The company is expected to earn $6.34/share in 2025.

The stock sells for 8.08 times forward earnings and has a dividend yield of 3.51%.

Farmers & Merchants Bancorp, Inc. (FMAO) operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio, Northeast Indiana, and Southeast Michigan.

Farmers & Merchants Bancorp (FMAO) raised quarterly dividends by 2.80% to $0.2275/share. This is teh 20th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 7.70%.

The bank managed to grow earnings from $1.12/share in 2015 to $1.90/share in 2024.

The company is expected to earn $2.27/share in 2025.

The stock sells for 11.15 times forward earnings and has a dividend yield of 3.60%.

RPM International Inc. (RPM) provides specialty chemicals for the construction, industrial, specialty, and consumer markets. It operates in four segments: CPG, PCG, Consumer, and SPG. 

RPM raised quarterly dividends by 5.90% to $0.54/share. This is the 52nd consecutive year that this dividend king has increased its cash dividend. Over the past decade, the company has managed to grow dividends at an annualized rate of 6.80%.

The company clearly states that Dividend Growth Drives Total Returns on its website: 

"In an era of extremely low interest rates on savings account and other interest-bearing investment options, RPM’s dividend growth—coupled with an appreciating stock price—yield a total return that makes the company attractive to both institutional and individual investors.

Since initiating its focus on an annually growing dividend in 1973 to drive long-term value for shareholders, $RPM has grown from $25 million in annual sales to more than $7.4 billion, while delivering $3.8 billion in after-tax capital through its cash dividend program."

The company earned $2.70/share in 2016 and grew profits to $5.38/share in 2025.

The company is expected to earn $5.68/share in 2026.

The stock sells for 20.59 times forward earnings and has a dividend yield of 1.85%.

Starbucks Corporation (SBUX) operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. 

Starbucks raised quarterly dividends by 1.60% to $0.62/share. This is the 15th consecutive annual dividend increase for this dividend achiever.

This is also the smallest dividend increase ever for Starbucks. Over the past decade, the company has managed to grow dividends at an annualized rate of 15.50%.

The company managed to grow earings from $1.84/share in 2015 to $3.32/share in 2024.

The company is expected to earn $2.17/share in 2025.

The stock sells for 39.84 times forward earnings and has a dividend yield of 2.87%.

Trinity Bank, N.A. (TYBT) provides personal and business banking products and services in Texas.

Trinity Bank raised its semi-annual dividends by 5.30% to $1/share. This represents the 13th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 10.80%.

The company grew earnings from $2.91/share in 2014 to $7.83/share in 2024.

The stock sells for 12.26 times earnings and yields 2.20%.

I honestly love how they show the dividends paid over the past 13 years, and totaled it in the press release. For reference, stock was at around $26.50/share at the end of 2011.

Relevant Articles:

- Three Dividend Growth Stocks In The News

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Three Dividend Growth Companies Raising Dividends Last Week

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

It's one of my processes to monitor existing holdings and potentially uncover companies for further research. 

This exercise helps me stay sharp and keep the pulse of the Dividend Growth Investing Universe. 

This exercise also showcases the inputs I use to quickly decide if I want to study a company further or not. In general, I look for companies that can grow dividends at a decent clip, fueled by growth in earnings per share. I want to acquire such a company at a good entry price. I also want a company that can keep growing those dividends in the future, as the durable business model produces higher earnings. 

You can see I have humble needs from life.

For this review, I focused on the companies that raised dividends last week, which also have a ten year minimum streak of consecutive annual dividend increases under their belts. The companies include:

The Kroger Co. (KR) operates as a food and drug retailer in the United States.

Kroger raised quarterly dividends by 9.40% to $0.35/share. This marks the 19th consecutive year of dividend increases for this dividend achiever. During the past decade, the company managed to grow dividends at an annualized rate of 13.52%.

Between 2015 and 2024, the company managed to grow earnings from $2.09/share to $3.7/share.

The company is expected to earn $4.77/share in 2025.

The stock sells for 14.94 times forward earnings and yields 1.80%.

Matson, Inc. (MATX) engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. 

The company raised quarterly dividends by 5.90% to $0.36/share. This is the 13th consecutive annual dividend increase for this dividend achiever. During the past decade, the company managed to grow dividends at an annualized rate of 7.18%.

Between 2015 and 2024, Matson managed to grow earnings from $2.37/share to $14.14/share. There were some record earnings per share in 2021 and 2022 of $21.67/share and $27.28/share respectively however. That Covid boom really messed the business cycle for a lot of companies, by pulling a lot of demand into a few short years, followed by a lower demand thereafter.

The company is expected to earn $10.49/share in 2025.

The stock sells for 10.35 times forward earnings and yields 1.25%.

Worthington Enterprises, Inc. (WOR) operates as an industrial manufacturing company. It operates through two segments, Consumer Products and Building Products. 

The company raised quarterly dividends by 11.80% to $0.19/share. This is the 15th year of consecutive annual dividend increases for this dividend achiever. During the past decade, the company managed to grow dividends at an annualized rate of 4.36%.

Between 2016 and 2025, the company's earnings per share went from $2.30 to $1.94.

The company is expected to earn $3.53/share in 2025.

The stock sells for 17.90 times forward earnings and yields 1.08%.

Relevant Articles:

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Five Dividend Growth Stocks Rewarding Shareholders With Raises Last Week

I review the list of dividend increases each week, as part of my monitoring process. This exercise helps me to review existing holdings and potentially uncover companies for further research.

This of course is just one aspect in my process. It does provide a helpful look at the way I would quickly evaluate companies, before determining if I want to place them on my list for further research.

Namely I look for:

1) Ten year streak of consecutive annual dividend increases

2) Rate of change in the most recent dividend increase, relative to the ten year historical average

3) Trends in earnings per share, in order to determine sustainability of that dividend income stream

4) Valuation, as well as dividend safety

My review of the weekly dividend increases follows the philosophy outlined in the checklist above.

Over the past week there were five companies that raised dividends and also have a ten year minimum streak of consecutive annual dividend increases. The companies include:

Chubb Limited (CB) provides insurance and reinsurance products worldwide.

Chubb increased quarterly dividends by 5.80% to $0.91/share. This marks the 31st consecutive annual dividend increase for this dividend aristocratdividend aristocrat. Over the past decade, the company has managed to boost dividends at an annualized rate of 5.40%.

The company has managed to grow earnings from $8.50/share in 2014 to $21.97/share in 2023. Chubb is expected to earn $21.67/share in 2024.

The stock sells for 12.65 times forward earnings and yields 1.33%. 

Note, Warren Buffett recently initiated a large position Warren Buffett recently initiated a position in this insurer. 

Northrop Grumman Corporation (NOC) operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. 

The company increased quarterly dividends by 10.20% to $2.06/share. This is the 21st consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to boost dividends at an annualized rate of 11.90%.

Between 2014 and 2023, the company grew earnings from $9.91/share to $13.57/share. 

The company is expected to earn $24.78/share in 2024.

The stock sells for 18.98 times forward earnings and yields 1.75%.

Realty Income (O) is a real estate investment trust which owns over 15,450 real estate properties. 

Realty Income increased its monthly dividend by 2.14% to $0.2625/share. The new dividend is 2.94% higher than the dividend paid during the same time last year. This dividend aristocrat dividend aristocrat has increased annual dividends several times per year since going public in 1994. Over the past decade, the company has managed to boost dividends at an annualized rate of 3.60%.

Realty Income grew FFO/share from $2.58 in 2014 to $4.08 in 2023.

Realty Income is expected to generate $4.23/share in FFO in 2024.

The stock sells for 13 times forward FFO and yields 5.60%.

Advanced Drainage Systems, Inc. (WMS) designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.

The company raised quarterly dividends by 14.30% to $0.16/share. This is the tenth consecutive annual dividend increase for this newly minted dividend achiever. Over the past 5 years, the company has managed to boost dividends at an annualized rate of 11.84%.

Between 2015 and 2024 the company managed to grow earnings per share from  a loss of $0.38/share to a profit of $6.52/share. The company is expected to earn $6.79/share in 2025.

The stock sells for 25.63 times forward earnings and yields 0.37%.

HNI Corporation (HNI)  engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products.

The company raised quarterly dividends by 3.10% to $0.33/share. This is the 14th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to boost dividends at an annualized rate of 2.90%.

Earnings went from $1.37/share in 2015 to $1.11/share in 2023.

The company is expected to earn $3.05/share in 2024.

The stock sells for 15.10 times forward earnings and yields 2.87%.

Relevant Articles:

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Eighteen Cash Machines Hiking Dividends Last Week

As part of my review process, I evaluate dividend increases every week. This process helps me to see how my portfolio holdings are doing. It also helps me to uncover and review new candidates for my portfolio.

I look for dependable dividends from companies with a minimum ten-year streak of annual dividend increases, fueled by earnings growth. I look for dependable dividends from companies with dependable earnings, and solid competitive advantages, which I can acquire at attractive valuations.

During the past week, the following companies increased dividends to shareholders. Each company has a ten year streak of annual dividend increases. I review the latest dividend increase relative to the ten year average, and the growth in earnings per share over the past decade. Last but not least, I discuss current valuation. The companies include:

This is a list of companies for further review. Most seem attractive as businesses, but that doesn’t mean that they should be invested in at any price, regardless of valuation.

The next step is to check each business, in order to determine if it is worth further review. I would look at ten year trends in earnings per share, dividends per share, payout ratios, shares outstanding. I would try to understand what the business does, and make an assessment if the good times would continue, so that I can expect higher earnings, dividends and intrinsic values over time. I would look at the valuation relative to earnings and dividend growth, in order to determine if the business is fairly valued, if it looks promising too. 

Companies listed in this post include: 

Relevant Articles:

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Six Dividend Growth Stocks Raising Dividends Last Week

As part of my monitoring process, I review the list of dividend increases every week. This exercise helps me to monitor existing holdings and also identify companies for further research.

Dividend increases reflect company's confidence in their business and strategic plans. A solid dividend policy of sharing a portion of earnings drives value for shareholders.

Over the past week, there were six companies which increased dividends to shareholders and also have at least a ten year track record of annual dividend increases. The companies include:

Accenture plc (ACN) is a professional services company, provides strategy and consulting, interactive, industry X, song, and technology and operation services worldwide. 

The company increased quarterly dividends by 15.20% to $1.29/share. This is the 18th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 10.50%.

Between 2014 and 2023, Accenture managed to grow earnings from $4.64/share to $10.90/share.

The company is expected to earn $12.23/share in 2024.

The stock sells for 25.11 times forward earnings and yields 1.68%

City Holding Company (CHCO) operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States.

The company increased quarterly dividends by 10% to $0.715/share. This is the 18th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 5.80%.

Between 2013 and 2022, City Holding managed to grow earnings from $3.07/share to $6.81/share.

The company is expected to earn $7.68/share in 2024.

The stock sells for 11.76 times forward earnings and yields 3.16%

Honeywell International Inc. (HON) operates as a diversified technology and manufacturing company worldwide. 

The company increased quarterly dividends by 4.90% to $1.08/share. This is the 13th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 10%.

Between 2014 and 2023, Honeywell managed to grow earnings from $4.99/share to $7.33/share.

The company is expected to earn $9.16/share in 2024.

The stock sells for 20.18 times forward earnings and yields 2.33%

Johnson Outdoors Inc. (JOUT) designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. 

The company increased quarterly dividends by 6.50% to $0.33/share. This is the 10th year of consecutive annual dividend increases for this newly minted dividend achiever. Over the past five years the company has managed to grow dividends at an annualized rate of 26.70%.

Between 2014 and 2023, Johnson Outdoors managed to grow earnings from $2.03/share to $4.40/share.

The company is expected to earn $3.38/share in 2024.

The stock sells for 16.18 times forward earnings and yields 2.41%

OGE Energy Corp (OGE) operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. 

The company increased quarterly dividends by 1% to $0.4182/share. This is the 17th year of consecutive annual dividend increases for this newly minted dividend achiever. Over the past decade, the company managed to grow dividends at an annualized rate of 7.70%.

Between 2014 and 2023, OGE Energy managed to grow earnings from $1.94/share to $3.32/share.

The company is expected to earn $2.01/share in 2024.

The stock sells for 16.62 times forward earnings and yields 4.94%

Trinity Bank, N.A. (TYBT) provides personal and business banking products and services in Texas. 

The company increased quarterly dividends by 4.90% to $0.85/share. This is the 10th year of consecutive annual dividend increases for this dividend contender. Over the past decade, the company managed to grow dividends at an annualized rate of 14.40%.

Between 2013 and 2022, the company managed to grow earnings from $2.38/share to $5.37/share.

The stock sells for 14.33 times earnings and yields 4%

Relevant Articles:

- Eight Dividend Growth Companies Increasing Dividends Last Week

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Seven Dividend Growth Stocks Rewarding Shareholders With Raises

I review the list of dividend increases each week as part of my monitoring process. This exercise helps review existing holdings, and potentially identify companies for further research. Reviewing dividend increases is a good way to keep track of the pulse of Dividend Growth Investing universe.

I focus on consistent dividend growth companies. Therefore, I typically focus my attention on companies that have managed to raise dividends for at least ten years in a row. The companies listed below have managed to increase dividends for at least a decade and announced a dividend increase last week.

I looked at the dividend increase, in relation to historical dividend growth rates. That provides helpful information about the business prospects, and management's assessment of those prospects.

I also like to look at growth in earnings per share over the same period of time, in order to determine if dividend growth is on solid footing. Rising earnings per share provide the fuel behind future dividend increases.

Last but not least, I look at valuation metrics, such as P/E ratio, Dividend Yield in conjunction with growth in dividends and growth in earnings per share. Even the best company in the world is not worth overpaying for. However, valuation is tricky. 

A company with a low P/E may turn out to be more expensive in the long run if those earnings per share are cyclical or in a terminal decline.

A company with a high P/E may turn out to be cheap in the long run if those earnings per share grow and they are counter-cyclical.

Long story short, valuation is not a one sized trick pony. I have an article scheduled on this topic over the next week.

The companies that announced dividend increases last week, AND also had at least a ten year streak of annual dividend increases include:

Badger Meter, Inc. (BMI) manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. 

The company increased quarterly dividends by 20% to $0.27/share. This is the 31st year of consecutive annual dividend increases for this dividend champion.

Badger Meter has managed to increase dividends at an annualized rate of 9.90% over the past decade.

The company managed to grow earnings from $0.86/share in 2013 to $2.28/share in 2022.

The company is expected to earn $3.01/share in 2023.

The stock yields 0.65% and sells for 52.94 times forward earnings. It's pricey today, but may be worth a researching if it drops to a more reasonable valuation.

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

The company increased quarterly dividends by 10% to $0.55/share. This is the 13th consecutive year Cboe has increased its dividend.

Cboe Global Markets has managed to increase dividends at an annualized rate of 13.80% over the past decade.

The company managed to grow earnings from $1.99/share in 2013 to $2.20/share in 2022.

The company is expected to earn $7.29/share in 2023.

This dividend achiever sells for 20.60 times forward earnings and yields 1.46%.

Dillard's, Inc. (DDS) operates retail department stores in the southeastern, southwestern, and midwestern areas of the United States.

The company hiked quarterly dividends by 25% to $0.25/share. This is the 13th year of consecutive annual dividend increases for this dividend achiever.

Dillard's has managed to increase dividends at an annualized rate of 14.90% over the past decade.

The company managed to grow earnings from $7.10/share in 2013 to $50.81/share in 2022.

The company is expected to earn $41.83/share in 2023.

The stock sells for 8.13 times forward earnings and yields 0.30%.

Muncy Bank Financial, Inc. (MYBF) provides financial services to individuals and businesses in the United States. 

The company hiked quarterly dividends by 2.60% to $0.40/share. This is the 22nd consecutive annual dividend increase for this dividend contender.

Muncy Bank Financial has managed to increase dividends at an annualized rate of 7.80% over the past decade.

The company managed to grow earnings from $2.69/share in 2013 to $3.90/share in 2022.

The stock sells for 10.45 times earnings and yields 4.30%.

NBT Bancorp Inc.(NBTB) provides commercial banking, retail banking, and wealth management services.

The company hiked quarterly dividends by 6.70% to $0.32/share. This is the eleventh annual dividend increase for this dividend contender.

NBT Bancorp has managed to increase dividends at an annualized rate of 3.80% over the past decade.

The company managed to grow earnings from $1.47/share in 2013 to $3.54/share in 2022.

The stock sells for 11.27 times earnings and yields 3.42%.

Stock Yards Bancorp, Inc. (SYBT) operates as a holding company for Stock Yards Bank & Trust Company that provides various financial services for individuals, corporations, and others in the United States. It operates in two segments, Commercial Banking, and WM&T.

The company hiked quarterly dividends by 3.40% to $0.30/share. This is the 14th year of consecutive annual dividend increases for this dividend achiever.

Stock Yards Bancorp has managed to increase dividends at an annualized rate of 8.30% over the past decade.

The company managed to grow earnings from $1.27/share in 2013 to $3.24/share in 2022.

The stock sells for 12.80 times forward earnings and yields 2.56%.

Westlake Corporation (WLK) manufactures and markets performance and essential materials, and housing and infrastructure products in the United States, Canada, Germany, China, Italy, Taiwan, and internationally.

The company raised quarterly dividends by 40.10% to $0.50/share. This is the 20th year of consecutive annual dividend increases for this dividend achiever.

Westlake Corporation has managed to increase dividends at an annualized rate of 17.50% over the past decade.

The company managed to grow earnings from $4.56/share in 2013 to $17.46/share in 2022.

The stock yields 1.51% and sells for 14.08 times forward earnings.

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Five Dividend Growth Companies Increasing Distributions to Shareholders

I review the list of dividend increases as part of my monitoring process. This exercise helps in monitoring existing positions and potentially identify companies for further research.

Over the past week, there were five companies that both increased dividends and have managed to increase them for at least ten consecutive years. The companies include:

Alexandria Real Estate Equities (NYSE: ARE) is a life science REIT that owns, operates, and develops of collaborative life science, agtech, and technology campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle. 

The REIT hiked quarterly dividends by 2.48% to $1.24/share. The new dividend is 5.08% higher than the distribution paid during the same time last year. This marked the 13th consecutive annual dividend increase for this dividend achiever. 

Alexandria Real Estate Equities has managed to increase dividends at an annualized rate of 8.72% over the past decade.

It has managed to grow FFO/share from $4.33 in 2013 to $5.44 in 2022. Forward FFO estimates for 2023 are at $8.95/share.

The stock is selling for 13.47 times forward FFO and yields 4.11%.

Casey's General Stores, Inc. (CASY) operates convenience stores under the Casey's and Casey's General Store names. 

The company increased quarterly dividends by 13.16% to $0.43/share. This was the 24th consecutive annual dividend increase for this dividend achiever. Over the past decade the company has managed to increase dividends at an annualized rate of 8.77%.

The company grew earnings per share from $3.19 in 2014 to $9.85 in 2023. The company is expected to earn $10.73/share in 2024.

The stock is selling for 20.44 times forward earnings and yields 0.79%.

Oil-Dri Corporation of America (ODC) develops, manufactures, and markets sorbent products in the United States and internationally. It operates in two segments, Retail and Wholesale Products Group, and Business to Business Products Group. 

The company increased quarterly dividends by 3.57% to $0.29/share. This marked the 21st consecutive annual dividend increase for this dividend achiever. Over the past decade ,it has managed to grow dividends at an annualized rate of 4.62%

Earnings per share fluctuated from a high of $2.09 in 2013 to a low of $0.82/share in 2022. Trailing 12 month earnings are at $3.29,

The stock is selling for 14.30 times trailing earnings and yields 2.46%.

Universal Health Realty Income Trust (UHT) is a real estate investment trust which invests in healthcare and human-service related facilities including acute care hospitals, behavioral health care hospitals, specialty facilities, medical/office buildings, free-standing emergency departments and childcare centers. 

The company increased dividends by 1.41% to $0.72/share. This marked the 38th year of consecutive annual dividend increases for this dividend champion. Over the past decade, the company has managed to increase dividends at an annualized rate of 1.49%.

FFO/share increased from $2.76 in 2013 to $3.54 in 2022. Forward FFO for 2023 is at $3.46/share.

The stock is selling for 14.26 times forward FFO and yields 5.81%.

UnitedHealth Group Incorporated (UNH) operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx.

The company hiked quarterly dividends by 13.94% to $1.88/share. This marked the 14th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 23.11%.

UnitedHealth Group managed to grow earnings from $5.50/share in 2013 to $21.18/share in 2022. The company is expected to earn $25/share in 2023.

The stock is selling for 19.61 times forward earnings and yields 1.52%.

Relevant Articles:

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16 Companies Rewarding Shareholders With a Raise Last Week

I review the list of dividend increases each week, as part of my monitoring process. There were 39 companies that increased dividends over the past week.

I reviewed the list and included the companies that have both raised dividends last week and have managed to raise dividends for at least ten years in a row. There were 16 companies that fit this simple screen:

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.

You can check out my analysis of Johnson & Johnson (JNJ) for more detail on how I review companies.

Relevant Articles:

- Thirteen Dividend Growth Stocks Rewarding Shareholders With a Raise

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Thirteen Dividend Growth Stocks Rewarding Shareholders With a Raise

As part of my monitoring process, I review the list of dividend increases. This process helps me review how the companies I own are doing. It also helps me identify companies for further research. I usually focus on the dividend increases for companies with a dividend streak longer than ten years in a row.

For this weekly review, I tend to focus my attention on companies with at least a ten year history of annual dividend increases, which also raised dividends last week. I provide a quick overview of each company that includes the amount of the most recent dividend increase, and compares it to its recent historical record. I also review the streak of annual dividend increases, and review earnings and valuation information.

There were several notable dividend increases over the past week:

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.

You can check out my analysis of Johnson & Johnson (JNJ) for more detail on how I review companies.

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Four Dividend Growth Stocks Delivering Dividend Raises to Shareholders

As part of my review process, I monitor dividend increases every week. I compile the list each week, but focus my attention on companies with a ten year track record of annual dividend increases or longer. I am looking for companies that have managed to grow dividends through a typical full length economic cycle of a boom and bust. A ten year requirement for dividend increases weeds out a lot of cyclical companies. It helps me focus on those who have a higher likelihood of future increases.

The fun doesn't stop there however. I review the recent increase relative to the historical record - meaning the past 5 or 10 years. Next, I review the trend in earnings per share, in order to determine if dividend growth is sitting on a stable foundation. I want a business that can grow earnings per share and grow dividends per share from there. I do not want a business that grows dividends by increasing the dividend payout ratio, as that is unsustainable for dividend increases and the business as a whole. I also want a dividend payout ratio that is sustainable, and generally staying within a tight range over time.

Next, I am going to review valuation. Even the best company in the world is not worth overpaying for. In my case, valuation means looking at P/E ratios and dividend growth rates. I try to account for how defensible the business is, whether I already have a position (and its size), and compare different options out there by yield/growth when I am ready to pull the trigger.

Over the past week, there were four companies that raised dividends to shareholders. All have managed to increase dividends for at least ten years in a row:

Aon plc (AON) is a professional services firm, provides advice and solutions to clients focused on risk, retirement, and health worldwide. 

Aon increased quarterly dividends by 9.80% to $0.615/share. This is the 12th consecutive annual dividend increase for this dividend achiever. 

Over the past decade, the company has managed to increase dividends at an annualized rate of 13.40%. The five year annualized dividend growth is at 9.20%.

Between 2013 and 2022, the company has managed to grow earnings from $3.57/share to $12.23/share.

The company is expected to earn $14.63/share in 2023.

The stock sells for 22.18 times forward earnings and yields 0.76%.

Agree Realty Corporation (ADC) is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. 

Agree Realty raised quarterly dividends by 1.20% to $0.243/share. This is also a 3.84% raise over the dividend paid during the same time last year. This is the eleventh consecutive annual dividend increase for this dividend achiever.

Over the past decade, the company has managed to increase dividends at an annualized rate of 5.70%. The five year annualized dividend growth is at 6.70%.

Between 2013 and 2022, the company has managed to grow FFO from $2.12/share to $3.47/share.

The company is expected to generate $3.95/share in FFO in 2023.

The stock sells for 16.72 times forward FFO and yields 4.40%.

The Procter & Gamble Company (PG) provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. 

Procter & Gamble raised quarterly dividends by 3% to $0.9407/share. This dividend increase will mark the 67th consecutive year that P&G has increased its dividend and the 133rd consecutive year that P&G has paid a dividend since its incorporation in 1890. The company is a member of the elite dividend kings list.

Over the past decade, the company has managed to increase dividends at an annualized rate of 5%. The five year annualized dividend growth is at 5.70%.

Earnings per share have increased from $3.66 in 2012 to $5.81 in 2022. The company is expected to generate $5.86/share in earnings in 2023.

The stock sells for 25.77 times forward earnings and yields 2.50%. Check my review of Procter & Gamble here.

Star Group, L.P. (SGU) sells home heating and air conditioning products and services to residential and commercial home heating oil and propane customers in the United States

Star Group raised dividend by 6.60% to $0.1625/share. This is the eleventh consecutive annual dividend increase for this dividend achiever.

Over the past decade, the company has managed to increase dividends at an annualized rate of 6.80%. The five year annualized dividend growth is at 6.80%.

The stock sells for 15.37 times forward earnings and yields 5.05%.

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29 Companies Rewarding Shareholders With Raises

As part of my monitoring process, I review the list of dividend increases every single week. This process helps me to identify patterns, and find out more about companies that regularly raise dividends. That's helpful information if you want to review existing holdings and identify companies for review early in their journey.

Last week was very busy for dividend increases. There were 64 companies that increased dividends last week. I reviewed the list, and narrowed it down to the companies that managed to increase dividends for at least a decade.

You can view the full list of 29 companies that met the criteria below: 

This is a list of companies for further review. Most seem attractive as businesses, but that doesn’t mean that they should be invested in at any price, regardless of valuation.

The next step is to check each business, in order to determine if it is worth further review. I would look at ten year trends in earnings per share, dividends per share, payout ratios, shares outstanding. I would try to understand what the business does, and make an assessment if the good times would continue, so that I can expect higher earnings, dividends and intrinsic values over time. I would look at the valuation relative to earnings and dividend growth, in order to determine if the business is fairly valued, if it looks promising too. 

Companies listed in this post include: ADM, AIT, AJG, APD, BLK, CATC, CINF, CMCSA, CNI, CVX, DKL, ELV, FBIZ, FSBW, GATX, HFWA, HLAN, HOMB, KMB, LNT, NXST, PFC, SFNC, SJW, SPGI, STBA, TRUX, TSBK, WTFC,

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Seven Dividend Growth Companies Rewarding Owners With Raises Last Week

As part of my monitoring process, I review the list of dividend increases every week. I use this exercise to review existing holdings, and to identify companies for further research. I tend to focus on the companies with a ten year history of annual dividend increases. That's in an effort to identify consistent dividend growth companies that could potentially reward me with higher dividends for many years.

Of course, that's just one step in the process for me. If I identify a company for review, I look at financials, such as the trends in dividends, earnings, payout ratios over the past decade. I try to understand the company, and determine if it is a suitable candidate for my portfolio. Last but not least, I also try to determine whether it is fairly valued today. If not, I set some mental entry points when the company may be worth re-visting at.

Over the past week, there were close to 40 dividend increases. I am including below the companies that raised dividends last week and also had a minimum 10 year streak of consecutive annual dividend increases:

Fastenal Company (FAST) engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. 

The company increased quarterly dividends by 12.90% to $0.35/share. This is the 25th consecutive annual dividend increase for this newly minted dividend champion. Over the past decade, the company has managed to grow dividends at an annualized rate of 12.90%. 

Earnings per share rose from $0.76 in 2013 to $1.89 in 2022. The company is expected to earn $1.94/share in 2023.

The stock is selling for 25.29 times forward earnings and yields 2.86%.

Franco-Nevada Corporation (FNV) operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. 

The company increased quarterly dividends by 6.30% to $0.34/share. This marks the 16th consecutive annual increase for Franco-Nevada shareholders. Over the past decade, the company has managed to grow dividends at an annualized rate of 9%. 

Earnings per share rose from $0.72 in 2012 to $3.84 in 2021. The company is expected to earn $3.65/share in 2022.

The stock is selling for 39.47 times forward earnings and yields 0.92%.

Enterprise Bancorp, Inc. (EBTC) operates as the holding company of Enterprise Bank and Trust Company that provides commercial banking products and services. It offers commercial and retail deposit products, including checking accounts, limited-transactional savings and money market accounts, commercial sweep products, and term certificates of deposit. 

The company increased quarterly dividends by 12.20% to $0.23/share.  This marks the 31st consecutive annual dividend increase for this dividend champion. Over the past decade, the company has managed to grow annualized dividends at a rate of 6.40%.

Earnings per share rose from $1.29 in 2012 to $3.51 in 2021.

The stock is selling for 10.38 times trailing earnings and yields 2.59%.

J.B. Hunt Transport Services, Inc. (JBHT) provides surface transportation, delivery, and logistic services in North America. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). 

The company increased quarterly dividends by 5% to $0.42/share. This marks is the 19th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to grow annualized dividends at a rate of 11.10%.

Earnings per share rose from $2.92 in 2013 to $9.21 in 2022.

The stock is selling for 20.11 times trailing earnings and yields 0.89%.

Consolidated Edison, Inc. (ED) engages in the regulated electric, gas, and steam delivery businesses in the United States. 

The company increased quarterly dividends by 2.50% to $0.81/share. This is the 49th consecutive annual dividend increase for this dividend aristocrat. Over the past decade, the company has managed to grow annualized dividends at a rate of 2.70%.

I like their comment in the press release: 

"The 49th consecutive annual increase for stockholders, the longest period of consecutive annual dividend increases of any utility in the S&P 500 index, reflects our continued emphasis on providing a return to our investors while meeting the needs of our customers during the clean energy transition," said Robert Hoglund, Con Edison's senior vice president and chief financial officer. The company continues to target a dividend payout ratio of between 60% and 70% of its adjusted earnings.

Earnings per share went from $3.89 in 2012 to $3.86 in 2021. Con Edison is expected to earn $4.54/share in 2022.

The stock is selling for 20.55 times forward earnings and yields 3.45%.

Union Bankshares, Inc. (UNB) operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in northern Vermont and New Hampshire. 

The company increased quarterly dividends by 2.90% to $0.36/share.  This marks the 11th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to grow annualized dividends at a rate of 3.40%.

Earnings per share rose from $1.54 in 2012 to $2.94 in 2021.

The stock is selling for 8.74 times trailing earnings and yields 5.76%.

Mercantile Bank Corporation (MWBM) operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States.

The company increased quarterly dividends by 3.10% to $0.33/share.  This marks the 11th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to grow annualized dividends at a rate of 30.20%. That high dividend growth is due to it cutting dividends in 2010 - 2011, and initiating a small dividend base in 2012.

Earnings per share rose from $1.96 in 2013 to $3.85 in 2022. The bank is expected to earn $4.49/share in 2023.

The stock is selling for 7.42 times forward earnings and yields 3.96%.

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Two Dividend Achievers Rewarding Shareholders With Raises

As part of my review process, I monitor the list of dividend increases every week. This exercise helps me monitor existing positions, but also identify newer companies for further research.

I tend to focus on the companies with a long history of annual dividend increases, like the achievers or aristocrats. That's because I am looking for companies that can potentially grow dividends over the course of a full economic cycle. I am also looking for companies that are riding long economic trends that last many years. I am not interested in short-term investments.

Monitoring dividend increases is just one part of my process of course. I monitor my watchlist, screen companies in my investment universe and try to scour the world for ideas. Once I get to an idea, I review its fundamentals, and determine the maximum entry price I am willing to buy it at.

Over the past week, there were two companies that increased dividends and managed to increase dividends annually for at least a decade.

Bank OZK (OZK) provides various retail and commercial banking services. 

The bank hiked quarterly dividends by 3% to $0.34/share. The new rate is 13.33% higher than the dividend paid during the same time last year.

This newly minted dividend champion has managed to increase dividends for 25 years in a row. Over the past decade, Bank OZK has managed to increase dividends at an annualized rate of 17.60%.

Between 2012 and 2021, Bank OZK managed to grow earnings from $1.11/share to $4.49/share. It's expected to earn $4.48/share in 2022 and $5.26/share in 2023.

The stock sells for 9 times forward earnings and yields 3.36%.

Enterprise Products Partners L.P. (EPD) provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services. 

This Master Limited Partnership hiked quarterly distributions to $0.49/unit. This distribution represents a 5.4 percent increase over the distribution paid during the same time last year.

This dividend achiever has managed to increase distributions every single year since going public in 1998.

Enterprise Products Partners is one of the best run MLPs in my opinion. Over the past decade, it has managed to grow distributions at an annualized rate of 4%.

The MLP yields 7.84% today.

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Nine Companies Rewarding Shareholders With Raises

I review the list of dividend increases every week, as part of my monitoring process. This helps me in my review of existing positions and in uncovering potential companies for future research. 

This is just one venue I use to monitor companies. Other ways include screening the list of dividend aristocrats, champions or achievers, before delving into each individual company that looks promising.

I believe in familiarizing myself with as many promising companies as possible, in an effort to be able to act quickly if they sell at the right price. 

In order to compile the list of companies I mention today, I looked at companies that have raised dividends over the past week and also have managed to increase dividends for at least ten years in a row.

The companies meeting that criteria are listed below:

Aflac Incorporated (AFL) provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. 

The company hiked quarterly dividends by 5% to $0.42/share. This was the 40th consecutive year of annual dividend increases for this dividend aristocrat. Over the past five years, the company has managed to increase dividends at an annualized rate of 12.96.

Commenting on the announcements, Aflac Incorporated Chairman and Chief Executive Officer Daniel P. Amos said: "I am pleased with the Board's action to increase the first quarter 2023 dividend. We treasure our record of 40 consecutive years of dividend increases, and our dividend track record is supported by the strength of our capital and cash flows. As an insurance company, our primary responsibility is to fulfill the promises we make to our policyholders. At the same time, we are listening to our shareholders and understand the importance of prudent liquidity and capital management. We remain committed to maintaining strong capital ratios on behalf of our policyholders and balance this financial strength with tactical capital deployment." 

The stock is selling for 13.55 times forward earnings and yields 2.37%. 

Automatic Data Processing, Inc. (ADP) provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). 

ADP boosted quarterly dividends by 20% to $1.25/share. The increased cash dividend marks the 48th consecutive year in which this dividend aristocrat has increased distributions to shareholders. Over the past five years, the company has managed to increase dividends at an annualized rate of 12.78%.

I loved this part from the press release: Our dividend is a cornerstone to our long-standing commitment to shareholder-friendly actions, and we are pleased to be one of a select group of companies with such a track record," said Carlos Rodriguez

The stock sells for 30.76 times forward earnings and yields 2.01%.

Atmos Energy Corporation (ATO) engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. It operates through two segments, Distribution, and Pipeline and Storage. 

The company hiked quarterly dividends by 8.82% to $0.74/share. This marked the 39th year of consecutive annual dividend increases for this dividend champion. Over the past five years, the company has managed to increase dividends at an annualized rate of 8.73%.

I loved this part from the press release: "The increased regular cash dividend reflects the company's continued strong financial position"

The stock sells for 18.56 times forward earnings and yields 2.67%.

Becton, Dickinson and Company (BDX) develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide. 

The company raised quarterly dividends by 4.60% to $0.91/share. This marked the 51st year of consecutive annual dividend increases for this dividend king. Over the past five years, the company has raised dividends at an annualized rate of 3.84%.

The stock is selling for 18.75 times forward earnings and yields 1.60%.

Lancaster Colony Corporation (LANC) engages in the manufacturing and marketing of food products for the retail and foodservice markets in the United States. It operates in two segments, Retail and Foodservice. 

The company increased quarterly dividends by 6.25% to $0.85/share. This marked the 60th year of consecutive annual dividend increases for this dividend king. Over the past five years, the company has managed to increase dividends at an annualized rate of 7.78%.

The stock sells for 33.12 times forward earnings and yields 1.67%.

Roper Technologies, Inc. (ROP) designs and develops software, and engineered products and solutions. 

The company hiked quarterly dividends by 10.08% to $0.68/share. During the past five years, Roper managed to hike dividends at an annualized rate of 12.12%.

The stock sells for 31.13 times forward earnings and yields 0.62%.

Innospec Inc. (IOSP) develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally.

The company raised semi-annual dividends by 3.20% to $0.65/share. This is the second dividend increase this year, bringing the new payment 10.17% higher than the payment in the same time last year. This marked the 10th year of consecutive annual dividend increases for this newly minted dividend achiever. Over the past five years, the company managed to boost dividends at an annualized rate of 11.60%

The stock sells for 17.29 times forward earnings and yields 1.20%.

Assurant, Inc.(AIZ) provides lifestyle and housing solutions that support, protect, and connect consumer purchases in North America, Latin America, Europe, and the Asia Pacific.

The company raised quarterly dividends by 2.94% to $0.70/share. This marked the 19th year of consecutive annul dividend increases for this dividend achiever. Over the past five years, the company has managed to hike distributions at an annualized rate of 5.60%.

The stock sells for 12.09 times forward earnings and yields 2.18%.

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.

The company raised semi-annual dividends by 9.21% to $8.30/share. This marked the 57 year of consecutive annual dividend increases for this dividend king. The company has managed to raise dividends at an annualized rate of 3.31% over the past five years.

The stock sells for 10.91 times forward earnings and yields 1.70%.

This article shows a review I do once a week. It usually takes a few minutes a week for me, though writing it down for your enjoyment takes longer than that.

This of course is just one step in the process. If I find a company that looks promising, I would run it through my screening criteria, analyze the company, and establish a proper valuation target for accumulation. 

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Three Dividend Growth Stocks Increasing Shareholder Dividends

I review the list of dividend increases as part of my monitoring process. This helps me review the story behind companies I already own. It also helps me review companies for potential inclusion into my watchlist.

A long track record of annual dividend increases is an indication of a quality company with a strong business model. Its strength could be due to a favorable environment, competitive position, unique product, patent or trademark, a strong brand, a loyal group of customers or a combination of the above. 

I find it helpful to identify these businesses and place them on my list for further research.

During the past week, there were three companies with long histories of annual dividend increases, which also hiked distributions to shareholders.

The companies include:

Bank OZK (OZK) provides various retail and commercial banking services. It accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. 

The bank raised its quarterly dividend by 3.10% to $0.33/share. This is a 13.79% increase over the dividend paid during the same time last year. Bank OZK has increased its quarterly cash dividend on its common stock in each of the last forty-nine quarters.

Over the past decade, the company managed to increase dividends at an annualized rate of 18.16%. The five year average is at 12.07%, which is still very impressive. This dividend achiever has managed to increase annual dividends in each year since 1997.

The stock sells for 9.21 times forward earnings and yields 3.1%

RPM International Inc. (RPM) manufactures, markets, and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide.

The company increased its quarterly dividends to shareholders by 5% to $0.42/share. This action marks RPM’s 49th consecutive year of increased cash dividends paid to its stockholders. RPM International is a dividend champion.

“The incredible efforts of RPM associates and their ability to collaboratively address the challenges we’ve faced have enabled RPM to continue to drive growth, at the same time we are achieving greater operational efficiency across all our businesses,” stated Frank C. Sullivan, RPM chairman and CEO. “We remain committed to delivering sustainable, long-term value for our stockholders, and our 49th consecutive year of increasing our dividend exemplifies this commitment.”

Over the past five years, it has managed to grow dividends at an annualized rate of 13.40%.The stock sells for 19.60 times forward earnings and yields 1.69%.

Trinity Bank, N.A. (TYBT) provides personal and business banking products and services in Texas. 

The bank raised semi-annual dividends by 4% to $0.78/share. This is a 6.85% hike over the dividend paid during the same time last year. Trinity Bank has now increased its semiannual dividend each six months since dividends were initiated in 2012. Over the past five years, it has managed to grow dividends at an annualized rate of 9.27%.

CEO Opitz stated, "I am proud of Trinity Bank's history of performance and earnings which has made it possible to share a significant piece of that success with our shareholders through these cash dividends. Our excellent employees, who are committed to building long-term banking relationships and delivering exceptional customer experiences, are the ones to thank for this success."

The stock sells for 15.50 times earnings and yields 1.79%.

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Seven Dividend Growth Stocks Rewarding Shareholders With A Raise

As part of my monitoring process, I review the list of dividend increases every week. This exercise is helpful in monitoring the progress for existing holdings in my dividend growth portfolio. It is also a helpful exercise to uncover hidden gems for further research.

I like to review the press releases, and see if I can see something that jumps at me. The tone of press releases, the rate of change in dividends, when compared to historical averages and growth in fundamentals, gives me a very decent approximation if management is bluffing or is simply staying the course.

I usually focus on the companies that have managed to increase dividends for at least a decade. During the past week, the following companies raised dividends for their shareholders:

Lockheed Martin Corporation (LMT) engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. 

The company increased its quarterly dividend by 7.10% to $3/share. This is the 20th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 12.50%.

The stock sells for 14.45 times forward earnings and yields 2.90%.

Starbucks Corporation (SBUX) operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development.

The company increased its quarterly dividend by 8.20% to $0.53/share. Starbucks initiated its dividend in 2010 and has increased it in each of the past 12 years. Over the past decade, the company has managed to increase dividends at an annualized rate of 20.70%. 

The stock sells at 29.32 times forward earnings and yields 2.52%.

Fortis Inc. (FTS) operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. 

The company increased its quarterly dividend by 5.60% to $CAD 0.565/share, marking 49 consecutive years of increased dividends. The company has managed to grow dividends at an annualized rate of 5.90% over the past decade.

The stock sells at 18.05 times forward earnings and yields 4.40%. Check my analysis of Fortis for more information about the company.

Honeywell International Inc. (HON) operates as a diversified technology and manufacturing company worldwide. 

The company increased quarterly dividends by 5.10% to $1.03/share. This was the 12th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 10.70%. 

The stock sells for 19.29 times forward earnings and yields 2.35%.

Ingredion Incorporated (INGR) produces and sells starches and sweeteners for various industries. It operates through four segments: North America; South America; Asia-Pacific; and Europe, Middle East and Africa. 

The company increased quarterly dividends by 9.20% to $0.71/share. This is the 12th consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 15.70%. The pace of annualized dividend growth has slowed down to 2% over the pat 3 years however.

The stock sells for 11.28 times forward earnings and yields 3.53%

The First of Long Island Corporation (FLIC) operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, municipalities, and other organizations.

The company raised its quarterly dividend by 5% to $0.21/share. This was the 26th year of consecutive annual dividend increases for this dividend champion. Over the past decade, the company has managed to increase dividends at an annualized rate of 6.90%. 

The stock sells at 8.18 times forward earnings and yields 4.64%.

City Holding Company (CHCO) operates as a holding company for City National Bank of West Virginia that provides various banking, trust and investment management, and other financial solutions in the United States. 

The company increased quarterly dividends by 8.30% to $0.65/share. This was the 11th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to increase dividends at an annualized rate of 5.50%. 

The stock sells for 14.07 times forward earnings and yields 2.93%.

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