I expect the following dividend aristocrats to increase their dividends in October 2022. The companies include:
A. O. Smith Corporation (AOS) manufactures and markets residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World.
The company last raised dividends by 7.69% to $0.28/share in October 2022. It has a five year annualized dividend growth rate of 17.20%.
I expect a raise in the 6% -7% range to $0.30/share. This would be the 29th year of consecutive annual dividend increases for this dividend aristocrat.
Right now, the stock sells for 14.20 times forward earnings and yields 2.20%. check my analysis of A.O. Smith (AOS) for more information about the company.
AbbVie Inc. (ABBV) discovers, develops, manufactures, and sells pharmaceuticals in the worldwide.
The company last raised dividends by 8.46% to $1.41/share in October 2021. It has a five year annualized dividend growth rate of 17.90%.
I expect a raise in the 7% -8% range to $1.52/share. This would be the 50th year of consecutive annual dividend increases for this dividend aristocrat.
Right now, the stock sells for 10.01 times forward earnings and yields 4.06%. Check my analysis of Abbvie for more information about the company.
Brown & Brown, Inc. (BRO) markets and sells insurance products and services in the United States, Bermuda, Canada, Ireland, the United Kingdom, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services.
The company last raised dividends by 10.80% to $0.1025/share in October 2021. It has a five year annualized dividend growth rate of 8.60%.
I expect a raise in the 7% -8% range to $0.11/share. This would be the 29th year of consecutive annual dividend increases for this dividend aristocrat.
Right now, the stock sells for 26.33 times forward earnings and yields 0.67%.
McDonald's Corporation (MCD) operates and franchises McDonald's restaurants in the United States and internationally.
The company last raised dividends by 6.98% to $1.38/share in September 2021. It has a five year annualized dividend growth rate of 7.80%.
I expect a raise in the 5% - 6% range to $1.45/share. This would be the 46th year of consecutive annual dividend increases for this dividend aristocrat.
McDonald's failed to raise dividends in September 2022. This has happened before. In 2020, the fast-food giant hiked dividends in early October. In 2015, it hiked dividends in November.
Right now, the stock sells for 23.72 times forward earnings and yields 2.37%.
V.F. Corporation (VFC) engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.
The company last raised dividends by 2.04% to $.50/share in October 2021. It has a five year annualized dividend growth rate of 6.50%.
I expect a raise in the 1% - 2% range to $0.51/share. This would be the 50th year of consecutive annual dividend increases for this dividend aristocrat.
Right now, the stock sells for 10.89 times forward earnings and yields 6.93%.
West Pharmaceutical Services, Inc. (WST) designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.
The company last raised dividends by 5.88% to $0.18/share in October 2021. It has a five year annualized dividend growth rate of 7.10%.
I expect a raise in the 5% - 6% range to $0.19/share. This would be the 30th year of consecutive annual dividend increases for this dividend aristocrat.
Right now, the stock sells for 27.43times forward earnings and yields 0.29%.
