The 6 Dividend Kings with a double digit hike in 2024
Rare stocks: 50+ years of dividend growth and a 10%+ increase this year
In 2024, 48 U.S. stocks continued their streak of at least 50 consecutive years of dividend increases. Among this elite group, the average dividend increase year-to-date stands at +5.4%. However, six companies distinguished themselves with double-digit dividend growth. Here’s a closer look at these top performers:
ABM Industries (ABM): Leading the way, ABM Industries posted a remarkable +17.8% dividend increase, showcasing robust financial health and growth.
Nordson (NDSN): With a +14.7% increase, Nordson secures the second spot, reflecting its strong operational performance and shareholder commitment.
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RPM International (RPM): RPM International delivered a +10.9% boost to its dividend, marking another solid year for the specialty coatings and sealants company.
WW Grainger (GWW): Grainger increased its dividend by +10.2%, demonstrating consistent growth and dedication to rewarding shareholders.
Parker Hannifin (PH): Parker Hannifin recorded a +10.1% increase, driven by its position as a leader in motion and control technologies.
ADP (ADP): Automatic Data Processing rounded out the group with a +10.0% increase, highlighting its stable business model and strong cash flow.
These six companies exemplify the strength and resilience of Dividend Aristocrats, consistently delivering value to investors through substantial dividend growth.
Among the top 25 Dividend Kings this year, none posted weekly gains following the recent sell-off in the markets. On a monthly basis, Walmart stands out as the only notable winner. AbbVie currently offers the highest dividend yield among these stalwarts, at 3.8%.
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Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.