I review the list of dividend increases every week, as part of my monitoring process. It's helpful as one of the things I use to review how existing holdings are doing. It's also helpful to potentially add new companies on my radar for further research.
I typically focus my attention on companies that have managed to increase dividends annually for at least a decade. This is a good way to gauge quality, and put a company on my list for further review from there.
Over the past week, there were five companies that managed to increase dividends and also have a ten year track record of annual dividend increases:
American Financial Group, Inc. (AFG) is an insurance holding company that provides specialty property and casualty insurance products in the United States.
The company increased quarterly dividends by 12.70% to $0.80/share. This is the 19th year of consecutive annual dividend increases for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 12.40%.
Between 2014 and 2023, the company grew earnings from $1.43/share to $1.77/share.
The company is expected to earn $11.01/share in 2024.
The stock sells for 12.20 times forward earnings and yields 2.30%.
Arrow Financial Corporation (AROW) is a bank holding company, which provides commercial and consumer banking, and financial products and services.
The company raised quarterly dividends by 3.70% to $0.28/share. This is the 31st year of consecutive annual dividend increases for this dividend champion. Over the past decade, the company has managed to grow dividends at an annualized rate of 3.40%.
Between 2014 and 2023, the company grew earnings from $1.43/share to $1.77/share.
Arrow Financial is expected to earn $2.05/share in 2024.
The stock sells for 13.50 times forward earnings and yields 4%.
Bank OZK (OZK) provides various retail and commercial banking services for individuals and businesses in the United States.
Bank OZK raised quarterly dividends by 2.50% to $0.41/share. That's a 10.80% raise over the dividend paid during the same time last year. This is the 28th year of consecutive annual dividend increases for this dividend aristocrat. Over the past decade, the company has managed to raise dividends at an annualized rate of 14.70%.
Between 2014 and 2023, the company grew earnings from $1.53/share to $5.89/share.
The company is expected to earn $6.02/share in 2024.
The stock sells for 7 times forward earnings and yields 3.88%.
Lockheed Martin Corporation (LMT) a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.
The company raised quarterly dividends by 4.80% to $3.30/share. This is the 21st consecutive annual dividend increase for this dividend achiever. Over the past decade, the company has managed to grow dividends at an annualized rate of 9.80%.
Between 2014 and 2023, the company grew earnings from $11.41/share to $27.65/share.
The company is expected to earn $26.54/share in 2024.
The stock sells for 22.85 times forward earnings and yields 2.18%.
RPM International Inc. (RPM) manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide.
RPM increased its quarterly dividends by 10.90% to $0.51/share. This is the 51st consecutive annual dividend increase for this dividend king. Over the past decade, the company has managed to raise dividends at an annualized rate of 6.50%.
Between 2015 and 2024, the company managed to grow earnings from $1.81/share to $4.58/share.
The business is expected to earn $5.52/share in 2025.
The stock sells for 23 times forward earnings and yields 1.60%.
Relevant Articles:
- Six Dividend Growth Stocks Increasing Dividends Last Week