The Dividend Aristocrats List includes S&P 500 companies that have managed to increase annual dividends for at least 25 consecutive years. This is not a small accomplishment, as less than 14% of S&P 500 companies can achieve that. That's a restatement to the quality of the business, stability of cash flows, and ability to grow and shower shareholders with more cash for decades.
So far this year, there have been 22 Dividend Aristocrats that increases dividends. Only one of them, V.F. Corporation (VFC) has cut dividends. As a result, V.F. Corporation was deleted from the list in March 2023. I am still including it in my reviews in 2023, since V.F. Corp was part of the list as of the end of 2022.
The overall dividend growth is positive for the aristocrats in 2023.
That's because the pace of dividend increases so far has overcome this dividend cut.
I expect the following companies to increase dividends in April 2023:
IBM (IBM) has managed to increase quarterly dividends by 1 cent/year over the past three years. I would expect quarterly dividends to reach $1.66/share in 2023, up from $1.65/share in 2022.
Johnson & Johnson (JNJ) has managed to increase quarterly dividends by 5% - 6%/year over the past 5 - 10 years. I would expect a dividend hike to $1.19 - $1.20/share in 2023. The current quarterly dividend is $1.13/share.
Procter & Gamble (PG) has also managed to increase quarterly dividends by around 5% - 6%/year over the past 5-10 years. I would expect a dividend hike to $0.96/share in 2023.
Sysco (SYY) has managed to increase quarterly dividends by 2 cents/share over the past three years. I would expect quarterly dividends to reach $0.51/share in 2023, up from $0.49/share in 2022.
Grainger (GWW) has managed to increase quarterly dividends by about 6%/year over the past five years. I would expect a dividend increase in the quarterly payment to $1.82/share in 2023, up from $1.72/share in 2022.
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