Dividend Growth Investor: Dividend Champions List for 2024

Not all dividend stocks are alike. Some companies are cyclical, and raise or lower their dividends in accordance with their profits. Some companies raise their dividends, but inconsistently.

Many great dividend paying companies strive to pay steadily increasing payouts over time. Ideally, in line with growing earnings. Today, 145 companies have managed to raise dividends annually for at least 25 years. These companies are known as dividend champions.

At the end of 2022, there were 139 champions. While the total is up by six, two companies cut their dividends in 2023 and were dropped from the list.

Of the 8 new companies, seven are financial stocks. That includes smaller bank companies, such as Cambridge Bancorp (CATC) and Norwood Financial Corp (NWFL).

Cambridge pays a 3.8 percent current dividend, and over the last 5 years has increased its dividend by 6.5 percent on average.

Norwood pays a 3.6 percent yield, and has grown its dividend by 5.7 percent on average over the last 5 years.

The non-financial stock to make the list is pipeline company Enterprise Products Partners (EPD). They pay a 5.3 percent current yield, and have increased their dividend by about 2.9 percent on average over the last 5 years.

Investing in dividend growth stocks may not always translate into a high starting yield. But over time, rising payouts will lead to higher income and higher share prices.

To view the full list of dividend champions, click here.