September 2018 Dividend Champions List

As part of my monitoring process, I took upon myself to update the list of Dividend Champions every month. I have found it very helpful to update the list, in an effort to monitor more closely the list of dividend champions. This is the third update of the dividend champions list I have done so far. You can review the last one containing the August 2018 Dividend Champions list here.

The process of checking for dividend increases is fairly manual.

It is somewhat easy to update the list, since I review the list of dividend increases every week for my blog readers, and provide some detail on companies that raised distributions as part of my research.

The other step I use it to review forward dividends in a Yahoo Finance customized stock list relative to the dividend payments that I have included from the prior month. This helps me identify any companies that may have slipped through the crack.

The next step involves reviewing differences, in order to determine whether I have inaccurate data or whether I have actual dividend increases. Unfortunately, this process can only be automated so much. It still requires verification against a company press release, in order to confirm that a dividend increase occurred. Still, it is a helpful exercise to go through updating the list of Dividend Champions, because the work helps me to focus and familiarize myself with more companies for further research. When I have an understanding of a company's business model, I am better prepared to act when the right opportunity presents itself.

I have a tremendous amount of respect for the work which David Fish quietly did for a decade, since he also updated the list of Contenders and Challengers, which is several times larger than the list of dividend champions. For the purposes of my research however, I have found that focusing on the dividend champions is enough for now.

You can download the list from this location.

There were two new dividend champions that joined the list in August.


Additions to the list of Dividend Champions

Arrow Financial Corp. (AROW) raised its quarterly dividend by 4% to 26 cents/share. This was the 25th consecutive increase for this dividend champion.

BancFirst Corp. OK (BANF) raised its quarterly dividend by 42.86% to 30 cent/share. Bancfirst has increased dividends for 25 years in a row.


Dividend Champions removed from the list

There was one removal, which I overlooked in August. WGL Holdings (WGL) last day of trading was on July 6. The company was acquired.


Dividend Increases in August 

There were a few notable dividend increases over the past month from the list of dividend champions. Those include the following companies, their ticker, the rate of most recent increase and consecutive streak of annual dividend increases.

Altria Group Inc. (MO) raised its dividend by 14.269% to 80 cents/share. This was the second dividend increase this year for Altria. Altria has raised dividends for 49 years in a row.

American States Water (AWR) raised its quarterly dividend by 7.84% to 27.50 cents/share. American States Water has the longest track record of annual dividend increases with 64 annual dividend hikes in a row.

AptarGroup Inc. (ATR) hiked dividends for a second time this year. The company raised distributions by 6.25% to 34 cents/share. AptarGroup has a 25 year track record of annual dividend raises for shareholders.

Badger Meter Inc. (BMI) increased its quarterly dividend by 15.38% to 15 cents/share. This marked the 26th consecutive annual dividend increase for this dividend champion.

Carlisle Companies (CSL) raised its quarterly dividends by 8.11% to 40 cents/share, marking the 42nd consecutive annual dividend increase for the company.

Community Bank System (CBU) raised its quarterly dividend by 11.76% to 38 cents/share. This marked the 26th year of annual dividend increases for the company.

Community Trust Banc. (CTBI) raised its quarterly dividend by 9.09% to 38 cents/share, marking the 36th annual dividend increase for the company.

Dover Corp. (DOV) raised its quarterly dividend by 2.13% to 48 cents/share. This marked the 63rd consecutive annual dividend increase for this dividend king.

Eagle Financial Services (EFSI) raised its dividend by 4.35% to 24 cents/share. This was the second dividend increase this year for Eagle Financial Services. The company has raised dividends for 32 years in a row.

Federal Realty Inv. Trust (FRT) is a dividend king, which recently raised its quarterly dividend by 2% to $1.02/share.

Illinois Tool Works (ITW) raised its quarterly dividend by a staggering 28.21% to $1/share. The company has rewarded shareholders with a raise for 44 years in a row.

MGE Energy Inc. (MGEE) boosted shareholder payouts by 4.65% to 33.75 cents/share. This marked the 43rd consecutive annual dividend increase for the company.

Nordson Corp. (NDSN) raised its quarterly dividends by 16.67% to 35 cents/share. This marked the 54th consecutive annual dividend increase for this dividend king.


You can obtain the list of September Dividend Champions from here.

Relevant Articles:

- August 2018 Dividend Champions List
- Dividend Champions List For June 2018
- Altria Rewards Shareholders With a Smoking Hot Dividend Increase
- Three Notable Dividend Increases To Consider