Luckily, we are Dividend Growth Investors, so we stay the course, because we are paid to hold. Those of us in the accumulation phase get excited during market declines, because that means that future income is available on sale. This is where having a ready list of companies can be helpful when we get the big sale on stocks.
Those of us in the retirement phase can simply sit back, relax, and enjoy the growing stream of dividends from their diversified portfolios.
As many of you know, I review the list of dividend increases every week. Last week, we had several companies that raised their annual dividends, like clockwork. Dividend increases from these consistent dividend payers signals confidence in their business models. Some of these companies have paid and increased dividends for many decades, withnessing cold wars, inflations, wars, oil shocks, embargoes, and possibly a ton of other bad events. Yet, they have adapted and thrived.
Selling a branded product or service, and having strong competitive advantages and a good culture probably helped too.
Either way, there were four companies that raised dividends last week, which also have managed to increase dividends for at least ten consecutive years. Those companies include:
Agree Realty Corporation (ADC) is a publicly traded real estate investment trust that is involved in the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants.
The company raised its monthly dividend by 1.20% to $0.2560/share. This represents a 2.40% increase over the dividend paid during the same time last year. This is the 13th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, it managed to grow dividends at an annualized rate of 5.82%.
The REIT managed to grow Funds from Operations (FFO) from $2.40/share in 2015 to $3.78/share in 2024.
The REIT expects to generate $4.23/share in FFO in 2025.
The stock sells for 17.70 times forward FFO and yields 4.05%.
Aon plc, (AON) is a professional services firm, which provides a range of risk and human capital solutions worldwide.
The company raised quarterly dividends by 10.40% to $0.745/share.
This is the 14th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, it managed to grow dividends at an annualized rate of 11.06%.
The company managed to grow earnings from $4.93/share in 2015 to $12.55/share in 2024.
Aon is expected to earn $17.18/share in 2025.
The stock sells for 21.90 times forward earnings and yields 0.79%.
Fastenal Company (FAST) engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally.
Fastenal raised its quarterly dividends to $0.44/share. This is a 2.30% increase over the dividend paid in Q1, 2025. This is also a 12.82% increase over the dividend paid during the same time last year.
This dividend aristocrat company has increased annual dividends for 26 years in a row. Over the past decade, it managed to grow dividends at an annualized rate of 12.05%.
The company managed to grow earnings from $0.89/share in 2015 to $2.01/share in 2024.
The company is expected to earn $2.16/share in 2025.
The stock sells for 37.25 times forward earnings and yields 2.13%.
The Procter & Gamble Company (PG) engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
The company raised quarterly dividends by 5% to $1.0568/share. This marked the 69th consecutive annual dividend increase for this dividend king. Over the past five years, P&G has managed to increase dividends at an annualized rate of 6.18%. The ten year average is 4.57%.
Earnings per share have increased from $4.19 in 2014 to $6.18 in 2024. The company is expected to generate $6.89/share in earnings in 2025.
The stock sells for 23.25 times forward earnings. The stock yields 2.67%. Check my review of Procter & Gamble here.
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