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5 Dividend Kings Boasting 60+ Years of Yield Growth and Promising Prospects

Published 01/23/2024, 07:11 AM
Updated 09/02/2020, 02:05 AM
  • Dividend kings are those companies that have distributed and increased their dividend for at least 50 consecutive years.
  • As the market grows increasingly expensive, holding on to safe, incoming-paying companies is a great way to protect your gains.
  • Today we will look at five such stocks with excellent prospects for the remainder of the year.
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Dividend kings are distinguished by their remarkable track record of consistently paying dividends to shareholders for an impressive span of at least 50 consecutive years. These companies not only distribute dividends regularly but also exhibit a commendable trend of consistently increasing them.

The key advantages of investing in dividend kings can be succinctly enumerated as follows:

  1. Solid and Reliable Companies: Dividend kings are renowned for their stability and reliability, making them trustworthy investments.
  2. Consistent Dividend Payouts: These companies have a proven history of paying dividends for numerous consecutive years, demonstrating a commitment to shareholder returns.
  3. Regular Dividend Increases: Investors benefit from the assurance that dividend kings regularly augment their dividend payouts, providing a reliable source of income growth. This will come in particularly in handy when there's inflation.
  4. Stability and Peace of Mind: Investing in dividend kings offers investors a sense of stability and peace of mind. Knowing that dividends will be received periodically contributes to a more secure investment experience.
  5. Resilient Performance: Dividend kings exhibit stable performance independent of economic cycles, showcasing consistent growth over time.

Therefore, choosing to invest in dividend kings means aligning with robust, dependable, highly liquid, and sizable companies. These entities boast a notable history of consecutively distributing dividends over many years, further enhancing their appeal to investors.

The attractiveness of these investments lies in the combination of a consistent record of dividend increases and the overall stability exhibited by these companies.

See below all the dividend kings in the US stock market, along with the number of consecutive years of increasing dividends and the corresponding dividend yield:

  • Emerson (NYSE:EMR) Electric: 67 / +2.2%.
  • Parker-Hannifin (NYSE:PH): 67 / +1.3%.
  • Procter & Gamble (NYSE:PG): 67 / +2.5%.
  • 3M Company (NYSE:MMM): 65 / +5,5%
  • Cincinnati Financial (NASDAQ:CINF): 63 / +2.8%
  • Lowe's (NYSE:LOW): 62 / +2%.
  • Coca-Cola (NYSE:KO): 61 / +3.1%
  • Colgate-Palmolive (NYSE:CL): 61 / +2.4%
  • Johnson & Johnson (NYSE:JNJ): 61 /+2.9%
  • Nordson (NASDAQ:NDSN): 60 /+1,1%
  • Northwest Natural Gas (NYSE:NWN): 68 / +5.13%
  • American States Water Company (NYSE:AWR): 69 / +2.24%
  • Dover Corporation (NYSE:DOV): 68 / +1.40%
  • Genuine Parts (NYSE:GPC): 67 / +2.67%
  • Lancaster Colony (NASDAQ:LANC): 61 / +2.10%

Below, we'll explore a selection of five dividend kings that appear ready to keep outperforming the market. To enhance our analysis, I will leverage the InvestingPro tool, a professional resource that offers valuable data and information for comprehensive research in this domain.

1. Northwest Natural Holding

Northwest Natural Holding

The company provides natural gas distribution services to residential, commercial and industrial customers in Oregon and Washington. It was founded in 1859 and is headquartered in Portland, Oregon.

It has been increasing its dividend for 68 consecutive years. Its dividend yield is +5.13%. It will distribute it on February 15 and in order to receive it you must own shares before January 30.

Northwest Natural Holding

Source: InvestingPro

On February 23 it will present its quarterly results and is expected to increase revenues by +7.40%.

Northwest Natural Holding

Source: InvestingPro

It has 6 ratings, of which 2 are buy, 4 are hold and none are sell.

The market gives it potential at $46.40 and InvestingPro models at $44.69.

Northwest Natural Holding

Source: InvestingPro

2. American States Water

American States Water

The company provides water and electric services to residential, commercial and industrial customers in the United States. It was incorporated in 1929 and is headquartered in San Dimas, California.

It has been increasing its dividend for 69 consecutive years. Its dividend yield is +2.24%.

American States Water

Source: InvestingPro

It will report its quarterly results on February 20 and is expected to report a +9.09% increase in revenue.

American States Water

Source: InvestingPro

It presents 7 ratings, of which 4 are buy, 2 are hold and 1 is sell. The market gives it potential at $85.33 and InvestingPro models at $83.49.

American States Water

Source: InvestingPro

3. Dover Corporation

Dover Corporation

It is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955.

It has been increasing its dividend for 68 consecutive years. Its dividend yield is +1.40%.

Dover Corporation

Source: InvestingPro

It reports its financials on February 1, and earnings per share (EPS) are expected to increase by +7.88%.

Dover Corporation

Source: InvestingPro

The 12-month potential seen by the market is at $167.27, while InvestingPro's models lower it to $160.69.

Dover Corporation

Source: InvestingPro

4. Genuine Parts

Genuine Parts

The company distributes automotive parts and industrial parts and materials. It was incorporated in 1928 and is headquartered in Atlanta, Georgia.

It has been increasing its dividend for 67 consecutive years. Its dividend yield is +2.67%.

Genuine Parts

Source: InvestingPro

It reports its financials on February 20, and earnings per share (EPS) are expected to increase by +8.49%.

Genuine Parts

Source: InvestingPro

It presents 16 ratings, of which 6 are buy, 10 are hold and none are sell. The market gives it potential at $155.72 and InvestingPro models at $173.11.

Genuine Parts

Source: InvestingPro

5. Lancaster Colony

Lancaster Colony

The company is engaged in the manufacturing and marketing of food products for retail channels in the United States. It was incorporated in 1961 and is headquartered in Westerville, Ohio.

It has been increasing its dividend for 61 consecutive years. Its dividend yield is +2.10%.

Lancaster Colony

Source: InvestingPro

It reports its quarterly reports on February 1. Earnings per share (EPS) is expected to increase by +22.6% in 2024.

Lancaster Colony

Source: InvestingPro

It presents 6 ratings, of which 2 are buy, 4 are hold and none are sell. InvestingPro models see potential at $188.80.

Lancaster Colony

Source: InvestingPro

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Disclaimer: This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way. I would like to remind you that any type of asset, is evaluated from multiple points of view and is highly risky and therefore, any investment decision and the associated risk remains with the investor.

Latest comments

I buy many dvd stocks. Too often, they lose more than the dividend paid. I won't keep a stock that's on the red very long. Perhaps I'm not buying at the right price?
very good thank you
how can investing in less than 4% dividends yield companies justifiable when they are not undervalued either, on the other hand you can get more than that in interest bearing bank account?
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