The List Of Dividend Champions In 2020

The Dividend Champions are U.S. stocks that that have grown their dividend for 25+ years in a row. This is a fairly select list as only 138 companies have successfully done so. This is out of the over 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 for 25 years straight. 

Note that the Dividend Champion list is broader than the Dividend Aristocrat List.  The latter requires membership in the S&P 500 and having a minimum market capitalization of $3B. It is possible for a stock to be a Dividend Champion but not a Dividend Aristocrat for this reason. In 2019, there were only 57 Dividend Aristocrats.

A subset of the Dividend Champions has raised the divided for 50+ consecutive years. These stocks are known as Dividend Kings. I track these stocks separately since getting from 25-years of dividend increases to 50 years is no easy task.

            The two stocks with the longest track record as Dividend Champions with 49 straight years of dividend increases are Black Hills Corp (BKH) and National Fuel Gas (NFG). There are seven stocks with 48 consecutive years of increases. Three stocks attained 50-years of consecutive increases in 2019 and also attained Dividend King status. These are H.B. Fuller Company (FUL), Altria Group (MO), and Sysco Corp (SYY).

            The newest entries on the list are Albemarle Corp. (ALB), Arrow Financial Corp. (AROW), Enterprise Bancorp (EBTC), Essex Property Trust (ESS), Expeditors International (EXPD), Lincoln Electric Holdings (LECO), Matthews International (MATW), NextEra Energy (NEE), Northeast Indiana Bancorp (NIDB), Ross Stores (ROST), Southside Bancshares (SBSI), Urstadt Biddle Properties (UBA), and United Technologies (UTX).

            The 2019 list contains quite a few banks, utilities, and industrial companies. The list does not include any Master Limited Partnerships (MLPs). But it does include seven Real Estate Investment Trusts (REITs).

            The largest Dividend Champion is Johnson & Johnson (JNJ) and the smallest Dividend Champion is Northeast Indiana Bancorp (NIDB). This is a very small bank with a market capitalization less than $50M and thus it is not that liquid. Investors should consider the risks before investing in microcap stocks. There are several other small banks and thrifts with markets caps ranging from $100M to $200M on the list. Again, investors should be aware of the risks of stocks with small market capitalizations.

            Despite the length of time for dividend increases 36 companies have a 10-year double-digit rate of increase for the dividend, but the average is only 7.8%. The average payout ratio of all 138 companies is about 64%. But there are a quite a few companies that have high payout ratios over 65%.  The mean yield for all 138 Dividend Champions is ~2.4%.

            The Dividend Champions 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 and in some cases buybacks.

List of Dividend Champion Stocks

Company NameTickerIndustryNo. YearsDividend Yield (%)Payout Ratio (%)10-yr Dividend Growth Rate (%)Market Cap
American States WaterAWRWater Utilities651.4355.717.8 $        3,190 
Dover Corp.DOVMachinery641.7643.469.7 $      16,120 
Northwest Natural GasNWNGas Utilities642.7885.652.2 $        2,090 
Emerson ElectricEMRElectrical Equipment632.7156.184.7 $      45,250 
Genuine Parts Co.GPCDistributors632.9255.966.3 $      15,280 
Procter & Gamble Co.PGHousehold Products632.44184.176.2 $    309,330 
Parker-Hannifin Corp.PHMachinery631.7730.8812.3 $      25,540 
3M CompanyMMMIndustrial Conglomerates613.3968.9010.5 $      99,180 
Cincinnati FinancialCINFInsurance592.0940.433.2 $      17,790 
Farmers & Merchants BancorpFMCBBanks571.7920.503.1 $           609 
Johnson & JohnsonJNJPharmaceuticals572.7672.387.0 $    362,310 
Coca-Cola CompanyKOBeverages573.0090.407.5 $    229,910 
Lancaster Colony Corp.LANCFood Products571.7750.728.1 $        4,350 
Lowe’s CompaniesLOWSpecialty Retail571.8868.7518.4 $      91,170 
Colgate-Palmolive Co.CLHousehold Products562.5461.657.8 $      58,530 
Nordson Corp.NDSNMachinery560.9227.5913.1 $        9,570 
Hormel Foods Corp.HRLFood Products532.0951.1015.0 $      23,850 
ABM Industries Inc.ABMCommercial Services & Supplies521.9056.693.4 $        2,570 
California Water ServiceCWTWater Utilities521.5433.192.5 $        2,520 
Federal Realty Inv. TrustFRTEquity Real Estate Investment Trusts (REITs)523.18125.004.9 $      10,040 
Stepan CompanySCLChemicals521.1422.498.1 $        2,220 
SJW Corp.SJWWater Utilities521.6986.335.7 $        2,030 
Stanley Black & DeckerSWKMachinery521.7550.097.4 $      23,760 
Target Corp.TGTMultiline Retail522.1144.3015.4 $      64,020 
Tootsie Roll IndustriesTRFood Products521.0537.894.5 $        2,280 
Commerce BancsharesCBSHBanks511.5527.734.9 $        7,160 
H.B. Fuller CompanyFULChemicals501.2824.068.9 $        2,550 
Altria Group Inc.MOTobacco506.76357.459.5 $      92,840 
Sysco Corp.SYYFood & Staples Retailing502.2354.715.0 $      41,410 
Black Hills Corp.BKHMulti-Utilities492.7958.313.3 $        4,690 
National Fuel GasNFGGas Utilities493.8649.572.8 $        3,910 
Becton Dickinson & Co.BDXHealth Care Equipment & Supplies481.2285.4110.2 $      69,860 
Computer Services Inc.CSVIIT Services481.9649.1215.0 $        1,190 
W.W. Grainger Inc.GWWTrading Companies & Distributors481.8233.5913.2 $      17,060 
Leggett & Platt Inc.LEGHousehold Durables483.0672.404.0 $        6,930 
MSA Safety Inc.MSACommercial Services & Supplies481.3650.604.7 $        4,860 
PPG Industries Inc.PPGChemicals481.5840.405.9 $      30,670 
Universal Corp.UVVTobacco485.8285.883.7 $        1,290 
Gorman-Rupp CompanyGRCMachinery471.5741.737.1 $           968 
Kimberly-Clark Corp.KMBHousehold Products473.0270.316.2 $      47,170 
Middlesex Water Co.MSEXWater Utilities471.6352.032.6 $        1,070 
PepsiCo Inc.PEPBeverages472.8146.998.0 $    189,170 
Tennant CompanyTNCMachinery471.1838.105.0 $        1,360 
VF Corp.VFCTextiles, Apparel & Luxury Goods472.1756.4712.5 $      35,650 
Helmerich & Payne Inc.HPEnergy Equipment & Services467.18530.4031.0 $        4,230 
Nucor Corp.NUEMetals & Mining462.8427.211.5 $      17,040 
RPM International Inc.RPMChemicals461.9564.575.5 $        9,700 
S&P Global Inc.SPGICapital Markets460.8627.058.6 $      65,590 
Wal-Mart Inc.WMTFood & Staples Retailing461.7840.938.3 $    336,660 
Consolidated EdisonEDMulti-Utilities453.4169.812.0 $      29,050 
Illinois Tool WorksITWMachinery452.4656.3911.3 $      55,970 
Telephone & Data Sys.TDSWireless Telecommunication Services452.7869.474.6 $        2,530 
United Bankshares Inc.UBSIBanks453.7054.901.6 $        3,880 
Archer Daniels MidlandADMFood Products443.2668.299.9 $      24,130 
Automatic Data Proc.ADPIT Services44.02.1367.0310.0 $      74,210 
McDonald’s Corp.MCDHotels, Restaurants & Leisure44.02.5765.369.9 $    147,820 
MGE Energy Inc.MGEEElectric Utilities441.8256.403.3 $        2,690 
RLI Corp.RLIInsurance441.0136.086.1 $        4,150 
Walgreens Boots Alliance Inc.WBAFood & Staples Retailing443.0742.5615.0 $      53,830 
Carlisle CompaniesCSLIndustrial Conglomerates431.2825.459.9 $        8,990 
Pentair Ltd.PNRMachinery431.6234.784.4 $        7,420 
Clorox CompanyCLXHousehold Products422.8667.308.0 $      18,780 
Medtronic plcMDTHealth Care Equipment & Supplies421.9466.0611.9 $    151,210 
Sherwin-Williams Co.SHWChemicals410.7830.569.4 $      54,530 
Franklin ResourcesBENCapital Markets393.7844.2613.2 $      13,730 
Community Trust Banc.CTBIBanks393.3841.992.5 $           800 
Eaton Vance Corp.EVCapital Markets393.1843.997.8 $        5,370 
Old Republic InternationalORIInsurance383.5535.711.5 $        6,980 
Weyco Group Inc.WEYSDistributors383.9152.466.1 $           248 
AFLAC Inc.AFLInsurance371.9726.608.0 $      40,450 
Air Products & Chem.APDChemicals371.9658.889.6 $      52,130 
Cintas Corp.CTASCommercial Services & Supplies370.9930.2516.1 $      27,220 
Sonoco Products Co.SONContainers & Packaging372.8452.924.2 $        6,100 
ExxonMobil Corp.XOMOil, Gas & Consumable Fuels375.11101.467.6 $    290,980 
Atmos EnergyATOGas Utilities362.1553.124.3 $      12,850 
Brown-Forman Class BBF-BBeverages361.0345.578.1 $      31,580 
AT&T Inc.TDiversified Telecommunication Services355.4695.772.3 $    273,880 
Brady Corp.BRCCommercial Services & Supplies341.5335.513.0 $        3,020 
NACCO IndustriesNCOil, Gas & Consumable Fuels341.6112.0312.4 $           325 
Universal Health Realty TrustUHTEquity Real Estate Investment Trusts (REITs)342.28212.501.4 $        1,690 
Donaldson CompanyDCIMachinery331.5038.1812.9 $        7,100 
Eagle Financial ServicesEFSIBanks333.3439.803.4 $           106 
Mercury General Corp.MCYInsurance335.1467.560.8 $        2,740 
McCormick & Co.MKCFood Products331.4746.889.0 $      22,700 
Tompkins Financial Corp.TMPBanks332.4040.004.9 $        1,300 
T. Rowe Price GroupTROWCapital Markets332.4638.5811.3 $      29,090 
Chevron Corp.CVXOil, Gas & Consumable Fuels324.0668.395.9 $    218,810 
1st Source Corp.SRCEBanks322.2632.776.2 $        1,310 
UGI Corp.UGIGas Utilities322.9968.067.3 $        9,100 
First Financial Corp.THFFBanks312.3528.491.5 $           609 
National Retail PropertiesNNNEquity Real Estate Investment Trusts (REITs)303.70147.142.8 $        9,770 
Erie Indemnity CompanyERIEInsurance292.1365.816.7 $        8,060 
Jack Henry & AssociatesJKHYIT Services291.0544.4417.3 $      11,810 
Calvin B. Taylor Bankshares Inc.TYCBBanks292.8465.581.5 $           102 
Community Bank SystemCBUBanks282.4251.415.1 $        3,520 
Chesapeake Financial SharesCPKFBanks282.1122.226.9 $           118 
General DynamicsGDAerospace & Defense282.2435.3610.5 $      52,980 
MDU ResourcesMDUMulti-Utilities282.8661.943.0 $        5,880 
SEI Investments CompanySEICCapital Markets281.0221.1514.9 $        9,760 
UMB Financial Corp.UMBFBanks281.8430.326.2 $        3,300 
Westamerica BancorpWABCBanks282.5256.161.4 $        1,760 
Artesian ResourcesARTNAWater Utilities272.6861.633.0 $           353 
Badger Meter Inc.BMIElectronic Equipment, Instruments & Components271.1043.0410.8 $        1,780 
Ecolab Inc.ECLChemicals270.9933.8912.2 $      54,750 
Franklin Electric Co.FELEMachinery271.0527.626.6 $        2,590 
McGrath RentcorpMGRCCommercial Services & Supplies272.0538.965.1 $        1,790 
People’s United FinancialPBCTBanks274.3055.471.8 $        7,360 
Roper Technologies Inc.ROPIndustrial Conglomerates270.5718.7619.0 $      37,400 
West Pharmaceutical ServicesWSTHealth Care Equipment & Supplies270.4421.267.2 $      11,040 
Aqua America Inc.WTRWater Utilities272.12133.897.6 $        9,660 
A.O. Smith Corp.AOSBuilding Products261.9840.0019.9 $        7,840 
AptarGroup Inc.ATRContainers & Packaging261.2840.569.0 $        7,130 
BancFirst Corp. OKBANFBanks262.1732.328.5 $        1,930 
Brown & Brown Inc.BROInsurance260.9024.467.9 $      10,730 
Caterpillar Inc.CATMachinery262.8540.007.7 $      78,960 
Chubb LimitedCBInsurance261.9838.2210.2 $      69,810 
Cullen/Frost BankersCFRBanks263.0440.464.5 $        5,890 
John Wiley & Sons Inc.JW-AMedia262.8853.9710.5 $        2,700 
Linde PlcLINChemicals261.7038.298.2 $    110,730 
Meredith Corp.MDPMedia266.56225.499.7 $        1,640 
Realty Income Corp.OEquity Real Estate Investment Trusts (REITs)263.55214.494.5 $      25,460 
PSB Holdings Inc.PSBQBanks261.4516.375.2 $           113 
Tanger Factory Outlet CentersSKTEquity Real Estate Investment Trusts (REITs)269.33112.706.4 $        1,440 
Stryker Corp.SYKHealth Care Equipment & Supplies261.0242.2819.0 $      77,840 
Thomson Reuters Corp.TRICapital Markets262.04342.862.5 $      35,200 
Albemarle Corp.ALBChemicals252.2528.3210.7 $        6,920 
Arrow Financial Corp.AROWBanks252.9042.622.9 $           537 
Enterprise Bancorp Inc.EBTCBanks252.0123.624.9 $           379 
Essex Property TrustESSEquity Real Estate Investment Trusts (REITs)252.50120.006.3 $      20,860 
Expeditors InternationalEXPDAir Freight & Logistics251.3426.9510.9 $      12,860 
Lincoln Electric HoldingsLECOMachinery252.1239.8412.1 $        5,610 
Matthews InternationalMATWCommercial Services & Supplies252.1941.7912.1 $        1,210 
NextEra Energy Inc.NEEElectric Utilities252.1474.079.6 $    114,320 
Northeast Indiana BancorpNIDBThrifts & Mortgage Finance252.6326.853.9 $             48 
Ross Stores Inc.ROSTSpecialty Retail250.8823.1825.2 $      41,510 
Southside BancsharesSBSIBanks253.5356.6213.7 $        1,190 
Urstadt Biddle PropertiesUBAEquity Real Estate Investment Trusts (REITs)254.51177.421.3 $           936 
United TechnologiesUTXAerospace & Defense251.9843.627.7 $    127,490 
Mean39.22.463.77.8 $      37,109 
Median37.52.146.97.2 $        9,045 

Source: dripinvesting.org (Data as November 29, 2019)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s