The List Of Dividend Kings In 2020

The Dividend Kings are U.S. stocks that that have grown their dividend for 50+ years in a row. This is a fairly select list as only 29 companies have successfully done so. This is out of the approximately 4,300 companies listed on stock exchanges at end of 2018. These companies have survived periods of inflation, stock market crashes, global crisis and deep recessions. They may not have grown revenue and earnings per share every year, but they annually raised the dividend without fail. This length of time points to the durability of their businesses.

            The company with the longest track record is American States Water (AWR) with 65 years of straight increases. There were four water utilities on this list at the start of 2019. But Connecticut Water Service (CTWS) was acquired by SJW Corp (SJW) in 2019. The other company that left the list due to an acquisition was Vectron Corp (VVC), which was acquired by CenterPoint Energy Inc (CNP). There were three new entries to the list in 2019: Altria Group Inc (MO), Sysco Corp (SYY), and H.B. Fuller Company (FUL).

There are currently no master limited partnerships (MLPs) on the list. There is only one real estate investment trust (REIT) on the list, Federal Realty Investment Trust (FRT).

            Despite the length of time for dividend increases five companies have a 10-year double-digit rate of increase for the dividend. The median payout ratio is about 55% but there are a few companies that have high payout ratios over 65%. Interestingly, the list is not dominated by large cap companies but includes quite a few mid-cap ($2B – $10B) and small cap companies ($300M – $2B). The largest Dividend King by market capitalization is Johnson & Johnson (JNJ).

            The Dividend King list serves as a screen for further investigating as stock for a dividend growth portfolio. It is a list of companies with stable business that have competitive advantages and have returned cash to shareowners consistently through dividends.

List of Dividend King Stocks

Company NameTickerIndustryNo. YearsDividend Yield (%)Payout Ratio (%)10-yr Dividend Growth Rate (%)Market Cap
American States WaterAWRWater Utilities651.455.77.8 $        3,190 
Dover Corp.DOVMachinery641.843.59.7 $      16,120 
Northwest Natural GasNWNGas Utilities642.885.72.2 $        2,090 
Emerson ElectricEMRElectrical Equipment632.756.24.7 $      45,250 
Genuine Parts Co.GPCDistributors632.956.06.3 $      15,280 
Procter & Gamble Co.PGHousehold Products632.4184.26.2 $    309,330 
Parker-Hannifin Corp.PHMachinery631.830.912.3 $      25,540 
3M CompanyMMMIndustrial Conglomerates613.468.910.5 $      99,180 
Cincinnati FinancialCINFInsurance592.140.43.2 $      17,790 
Farmers & Merchants BancorpFMCBBanks571.820.53.1 $           609 
Johnson & JohnsonJNJPharmaceuticals572.872.47.0 $    362,310 
Coca-Cola CompanyKOBeverages573.090.47.5 $    229,910 
Lancaster Colony Corp.LANCFood Products571.850.78.1 $        4,350 
Lowe’s CompaniesLOWSpecialty Retail571.968.818.4 $      91,170 
Colgate-Palmolive Co.CLHousehold Products562.561.67.8 $      58,530 
Nordson Corp.NDSNMachinery560.927.613.1 $        9,570 
Hormel Foods Corp.HRLFood Products532.151.115.0 $      23,850 
ABM Industries Inc.ABMCommercial Services & Supplies521.956.73.4 $        2,570 
California Water ServiceCWTWater Utilities521.533.22.5 $        2,520 
Federal Realty Inv. TrustFRTEquity Real Estate Investment Trusts (REITs)523.2125.04.9 $      10,040 
Stepan CompanySCLChemicals521.122.58.1 $        2,220 
SJW Corp.SJWWater Utilities521.786.35.7 $        2,030 
Stanley Black & DeckerSWKMachinery521.750.17.4 $      23,760 
Target Corp.TGTMultiline Retail522.144.315.4 $      64,020 
Tootsie Roll IndustriesTRFood Products521.037.94.5 $        2,280 
Commerce BancsharesCBSHBanks511.627.74.9 $        7,160 
H.B. Fuller CompanyFULChemicals501.324.18.9 $        2,550 
Altria Group Inc.MOTobacco506.8357.49.5 $      92,840 
Sysco Corp.SYYFood & Staples Retailing502.254.75.0 $      41,410 
Mean56. $      54,051 
Median561.954.77.4 $      16,120 

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