Companies with a track record of growing dividends tend to outperform the market. Management's announcement of dividend increases signifies strong business performance and a commitment to shareholder rewards. I monitor companies with a proven history of dividend growth to provide you with up-to-date information on pending increases. The lists below offer valuable insights on stocks that will raise their dividends in the coming week. This information is particularly relevant in today's inflationary environment.
This list is a trimmed-down version, only covering dividend increases. A full upcoming dividend calendar is always available here.
How I Created The Lists
I created the information below by combining the "U.S. Dividend Champions" spreadsheet hosted here with upcoming dividend information from NASDAQ. This meshes metrics about companies with dividend growth history with upcoming dividend payments. These companies all have a minimum five-year dividend growth history.
Companies are required to have higher total dividends paid out each year. Therefore, a company may not raise its dividend each calendar year, but the total annual dividend can still increase.
What Is The Ex-Dividend Date?
The ex-dividend date marks the eligibility cut-off point for the upcoming dividend or distribution. To qualify, you must have purchased shares by the close of the preceding business day. For example, if the ex-dividend date falls on a Tuesday, you must have bought (or already owned) the shares by the market close on Monday. Note that if the ex-dividend date is on a Monday (or a Tuesday if Monday is a holiday), you must have acquired the shares by the prior Friday.
Dividend Streak Categories
Here are the definitions of the streak categories, as I'll use them throughout the piece.
- King: 50+ years
- Champion/Aristocrat: 25+ years
- Contender: 10-24 years
- Challenger: 5+ years.
Category Count King 2 Champion 2 Contender 17 Challenger 11
The Dividend Increasers List
Data has been sorted by the ex-dividend day (ascending) and then by the streak (descending):
Name Ticker Streak Forward Yield Ex-Div Date Increase Percent Streak Category Commerce Bancshares, Inc. (CBSH) 55 1.64 6-Mar-23 1.89% King BlackRock, Inc. (BLK) 14 2.94 6-Mar-23 2.46% Contender Equinix, Inc. (EQIX) 9 2.02 6-Mar-23 10.00% Challenger Jack Henry & Associates, Inc. (JKHY) 33 1.27 7-Mar-23 6.12% Champion Assured Guaranty Ltd. (AGO) 12 1.92 7-Mar-23 12.00% Contender Walker & Dunlop, Inc (WD) 6 2.87 7-Mar-23 5.00% Challenger Home Depot, Inc. (HD) 14 2.88 8-Mar-23 10.00% Contender Northrim BanCorp Inc (NRIM) 13 4.57 8-Mar-23 20.00% Contender LeMaitre Vascular, Inc. (LMAT) 12 1.12 8-Mar-23 12.00% Contender ITT Inc. Common Stock (ITT) 11 1.26 8-Mar-23 9.85% Contender Kimberly-Clark Corporation (KMB) 51 3.78 9-Mar-23 1.72% King Canadian National Railway Company (CNI) 28 2.73 9-Mar-23 7.80% Champion Perrigo Company plc Ordinary Shares (PRGO) 21 2.77 9-Mar-23 5.00% Contender L3Harris Technologies, Inc. (LHX) 21 2.17 9-Mar-23 1.79% Contender Waste Management, Inc. (WM) 20 1.87 9-Mar-23 7.69% Contender Elevance Health, Inc. (ELV) 13 1.26 9-Mar-23 15.63% Contender Reliance Steel & Aluminum Co. Common Stock (RS) 13 1.58 9-Mar-23 14.29% Contender Public Service Enterprise Group Incorporated (PEG) 12 3.89 9-Mar-23 5.56% Contender Evans Bancorp, Inc. (EVBN) 12 3.39 9-Mar-23 3.13% Contender Comfort Systems USA, Inc. (FIX) 11 0.48 9-Mar-23 16.67% Contender Exponent, Inc. (EXPO) 11 1 9-Mar-23 8.33% Contender Cogent Communications Holdings, Inc. (CCOI) 11 5.7 9-Mar-23 1.09% Contender Unity Bancorp, Inc. (UNTY) 10 1.81 9-Mar-23 9.09% Contender United Bancorp, Inc. (UBCP) 9 4.36 9-Mar-23 1.88% Challenger Gaming and Leisure Properties, Inc. (GLPI) 8 5.34 9-Mar-23 2.10% Challenger BWX Technologies, Inc. (BWXT) 7 1.48 9-Mar-23 4.55% Challenger Genpact Limited (G) 7 1.16 9-Mar-23 10.40% Challenger Schneider National, Inc. (SNDR) 6 1.29 9-Mar-23 12.50% Challenger Louisiana-Pacific Corporation (LPX) 6 1.62 9-Mar-23 9.09% Challenger Kforce Inc. (KFRC) 6 2.3 9-Mar-23 20.00% Challenger eBay Inc. (EBAY) 5 2.19 9-Mar-23 13.64% Challenger Williams Companies, Inc. (WMB) 6 5.98 10-Mar-23 5.41% Challenger
Field Definitions
Streak: Years of dividend growth history are sourced from the U.S. Dividend Champions spreadsheet.
Forward Yield: The new payout rate is divided by the current share price.
Ex-Dividend Date: This is the date you need to own the stock.
Increase Percent: The percent increase.
Streak Category: This is the overall dividend history classification of the company.
Show Me The Money
Here's a table mapping the new rates versus the old rates. It also reiterates the percentage increase. This table is sorted similarly to the first table (ex-dividend day ascending, dividend streak descending).
Ticker Old Rate New Rate Increase Percent CBSH 0.265 0.27 1.89% BLK 4.88 5 2.46% EQIX 3.1 3.41 10.00% JKHY 0.49 0.52 6.12% AGO 0.25 0.28 12.00% WD 0.6 0.63 5.00% HD 1.9 2.09 10.00% NRIM 0.5 0.6 20.00% LMAT 0.125 0.14 12.00% ITT 0.264 0.29 9.85% KMB 1.16 1.18 1.72% CNI CAD 0.7325 CAD 0.79 7.80% PRGO 0.26 0.273 5.00% LHX 1.12 1.14 1.79% WM 0.65 0.7 7.69% ELV 1.28 1.48 15.63% RS 0.875 1 14.29% PEG 0.54 0.57 5.56% EVBN 0.64 0.66 3.13% EXPO 0.24 0.26 8.33% CCOI 0.915 0.925 1.09% FIX 0.15 0.175 16.67% UNTY 0.11 0.12 9.09% UBCP 0.16 0.163 1.88% GLPI 0.7 0.72 2.10% G 0.125 0.138 10.40% BWXT 0.22 0.23 4.55% KFRC 0.3 0.36 20.00% LPX 0.22 0.24 9.09% SNDR 0.08 0.09 12.50% EBAY 0.22 0.25 13.64% WMB 0.425 0.448 5.41%
Additional Metrics
Some different metrics related to these companies include yearly pricing action and the P/E ratio. The table is sorted the same way as the table above. A value investor may find stock ideas with those companies near their 52-week lows, as they could provide more margin of safety and inflated yield.
Ticker Current Price 52 Week Low 52 Week High PE Ratio % Off Low % Off High CBSH 65.69 59.81 72.6 24.79 10% Off Low 10% Off High BLK 680.41 499.68 781.77 23.52 36% Off Low 13% Off High EQIX 675.76 492.49 765.54 136.86 37% Off Low 12% Off High JKHY 163.92 161.96 211.53 40.8 1% Off Low 23% Off High AGO 58.45 45.72 67.13 7.96 28% Off Low 13% Off High WD 87.77 74.78 137.14 12.54 17% Off Low 36% Off High HD 290.78 261.21 347.25 22.7 11% Off Low 16% Off High NRIM 52.49 37.25 56.26 7.75 41% Off Low 7% Off High LMAT 50.22 38.01 56.09 39.86 32% Off Low 10% Off High ITT 92.02 63.33 95.18 41.59 45% Off Low 3% Off High KMB 124.76 107.82 140.74 19.91 16% Off Low 11% Off High CNI 115.61 103.35 135.27 30.53 12% Off Low 15% Off High LHX 210 189.73 274.44 31.73 11% Off Low 23% Off High PRGO 37.94 30.65 43.24 0 24% Off Low 12% Off High WM 149.95 137.83 174.64 33.03 9% Off Low 14% Off High RS 252.73 158.88 254.13 19.71 59% Off Low 1% Off High ELV 469.25 437.28 548.18 7% Off Low 14% Off High EVBN 38.9 31.99 40.57 16.54 22% Off Low 4% Off High PEG 58.55 52.04 73.75 15.67 13% Off Low 21% Off High FIX 147.02 73.95 147.64 13.39 99% Off Low 0% Off High EXPO 103.55 80.57 112.75 56.39 29% Off Low 8% Off High CCOI 64.89 46.01 71.32 131.97 41% Off Low 9% Off High UNTY 26.46 24.7 29.76 8.81 7% Off Low 11% Off High UBCP 14.91 14.2 20.12 9.96 5% Off Low 26% Off High GLPI 53.9 40.2 54.46 20.16 34% Off Low 1% Off High BWXT 62.35 45.22 62.61 20.46 38% Off Low 0% Off High G 47.49 37.37 48.71 25.32 27% Off Low 3% Off High KFRC 62.67 49.35 76.99 17.25 27% Off Low 19% Off High LPX 59.17 48.01 77.26 21.72 23% Off Low 23% Off High SNDR 27.98 20.19 30.93 20.7 39% Off Low 10% Off High EBAY 45.75 35.74 59.78 6.97 28% Off Low 23% Off High WMB 29.95 27.94 36.59 121.76 7% Off Low 18% Off High
Tickers By Yield And Growth Rates
I have arranged the table by descending order for investors who prioritize current yield. As a bonus, the table also features some historical dividend growth rates. Moreover, I have incorporated the "Chowder Rule," which is the sum of the current yield and the five-year dividend growth rate.
Ticker Yield 1 Yr DG 3 Yr DG 5 Yr DG 10 Yr DG Chowder Rule WMB 5.98 3.7 3.8 7.2 3.6 13.2 CCOI 5.7 12.2 13.4 14.6 27.6 20.3 GLPI 5.34 5.5 14.9 10.7 16.1 NRIM 4.57 21.3 13.1 16.2 12.5 20.8 UBCP 4.36 6.8 4.7 6.3 4.1 10.7 PEG 3.89 5.9 4.7 4.7 4.3 8.5 KMB 3.78 1.8 4.1 3.7 4.6 7.5 EVBN 3.39 5 6.6 9.5 11.1 12.9 BLK 2.94 18.2 13.9 14.3 12.5 17.2 HD 2.88 15.2 11.8 16.4 20.7 19.2 WD 2.87 20 26 PRGO 2.77 8.3 8.3 10.2 12.2 13 CNI 2.73 14.4 11.7 12.1 11.6 14.9 KFRC 2.3 22.5 18.6 20.1 22.4 EBAY 2.19 22.2 16.3 LHX 2.17 9.8 16 15.3 12.3 17.5 EQIX 2.02 8 8 9.2 11.2 AGO 1.92 13.6 11.6 11.9 10.8 13.7 WM 1.87 13.1 8.3 8.9 6.2 10.8 UNTY 1.81 19.5 11.5 13.3 15.1 CBSH 1.64 4.7 5.7 8.5 6.5 10.1 LPX 1.62 29.4 17.7 RS 1.58 27.3 16.7 14.2 15.9 15.8 BWXT 1.48 4.8 9 16 27.1 17.5 SNDR 1.29 14.3 10.1 16.4 17.7 JKHY 1.27 6.5 7 9.6 15.6 10.9 ELV 1.26 13.3 17 13.7 16.1 15 ITT 1.26 20 21.6 15.6 11.2 16.9 G 1.16 16.3 13.7 15.8 17 LMAT 1.12 13.6 13.7 17.9 17.5 19 EXPO 1 20 14.5 18 19 FIX 0.48 16.7 12.3 13.7 10.9 14.2
Historical Returns
I constantly seek dividend growth stocks with a proven track record of outperforming the market. I use the Schwab U.S. Dividend Equity ETF (SCHD) as my benchmark. It boasts a solid history of exceptional performance, a higher yield than the S&P 500, and a history of growing dividends.
I'm comparing it against the list's top ten highest "10 Year dividend growth rate" stocks this week. This ensures we have a good base of ten years of data to compare all the relevant players. Interestingly, only NRIM lagged SCHD, and in truth, you could call the performance equal when the difference was 3% over a decade.
On the other hand, LMAT and ELV were the runaway winners with an 842% and 776% total return, respectively. The next set of strong performers was LHX, HD, and RS. Overall, a portfolio comprising these players would have performed very strongly in aggregate.
Please do your due diligence before investing, and thanks for reading.
Editor's Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.
Dividend Derek
Derek is an individual investor seeking to navigate the investment world to provide a wealthy and stable retirement for his family. He aims to help fellow investors, notably younger investors, establish a plan to produce a growing income stream. Derek holds a Bachelor's degree in Computer Science with a minor in Economics from the University of Delaware and lives with his wife and two children.Derek created and operatescustomstockalerts.com. It's a suite of utilities for investors to stay on top of all their stocks. Pick a company you're interested in, pick an alert type (price, dividend yield, PE, etc.) and a value. You'll get a text or email (your choice) when your value hits. Also, get alerts for upcoming dividends, including increases (works for stocks and ETFs). Use it as a chance to buy and collect the dividend!Come check me out at customstockalerts.com!
Analyst’s Disclosure: I/we have a beneficial long position in the shares of SCHD, HD, FIX, BLK, WM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
