In this article, I analyze the 29 Dividend Kings, an exclusive group of stocks that have increased their dividend for 50+ consecutive years. There is now one more Dividend King since Sysco Corporation (SYY) recently raised the quarterly dividend permitting this company to enter this exclusive list. I will provide a summary analysis for Sysco, which is a food service distributor, in this article since it is the newest Dividend King.
The top five stocks in the ranking model have remained the same although there was movement amongst these companies as 3M Company (MMM) has trended down in the ranking due to a rising stock price and valuation and now has a Dividend Power Score of 9.02 [DP Score = 9.02]. 3M’s yield is now down to about 3.4%. In absolute terms, this is still pretty good in this overvalued market. But the yield is down from early-October when 3M was clearly a buy in my mind. Of note is that The Coca-Cola Company’s (KO) yield has risen to ~3.0% again. But it is trading at a high valuation and the payout ratio is much too high giving it a low DP Score of 5.90.