Dividend Kings of 2023 – Full List

Investing in dividend stocks can be a lucrative way to maximize your returns and build long-term wealth. But not all dividend stocks are created equal, and investors seeking to maximize their income should look no further than the “Dividend Kings,” an elite group of stocks that have paid increasing dividends for 50 or more consecutive years.

Dividend Kings vs Dividend Aristocrats

Dividend Aristocrats are companies with three specific characteristics:

  • It must be an S&P 500 stock
  • It must pay consistent dividends and have increased its dividend for at least 25 years running
  • It must have a market capitalization of at least $3 billion

The criteria to be on the Dividend Kings List are not as stringent. The company doesn’t need to be a constituent of the S&P 500 Index nor does it have to meet a minimum capitalization number. It does, however, need to demonstrate one key trait:

  • It must have been paying increasing dividends for at least 50 years straight.

Investing in a Dividend King

The key reason for investing in Dividend Kings is the reliability of its payouts.

The world has witnessed wars, economic downturns, recessions, financial crises, banking collapses, and more over the past 5 decades. And to continually increase the dividend over 50 years or more shows just how resilient a dividend king is.

For some companies, simply surviving all this has been a triumph. There have been hundreds of companies that have filed for bankruptcy. But the Dividend Kings have continued regardless, to reward their shareholders with increasing dividends – even during recessions. And while the past cannot be a predictor of the future, such resilience and capacity to deliver returns through all market conditions are at the very least commendable.

That said, however, Dividend Kings are usually mature companies, operating in mature markets.

Companies like Coca-Cola, P&G, Abbott, Johnson & Johnson have pretty much established their business and brand across the globe. This is also why they are able to continue paying a good portion of their profits back to shareholders as they do not need to reinvest them to aggressively grow their market share.

In other words, Dividend Kings are usually slow-growth stocks. In fact, four of the five dividend kings with the longest records of dividend increases have underperformed the S&P 500 over the past 10 years.

Dividend Kings 2023

Here is the current list of Dividend Kings and dividend yield at the time of writing:

TickerNameIndustryDividend Yield
ABBVAbbVie, Inc.Healthcare3.6%
ABMABM Industries, Inc.Industrials1.9%
ABTAbbott LaboratoriesHealthcare1.9%
AWRAmerican States Water Co.Utilities1.6%
BDXBecton, Dickinson & Co.Healthcare1.4%
BKHBlack Hills CorporationUtilities3.5%
CBSHCommerce Bancshares, Inc.Financial Services1.6%
CDUAFCanadian Utilities Ltd.Utilities4.8%
CINFCincinnati Financial Corp.Financial Services2.6%
CLColgate-Palmolive Co.Consumer Defensive2.4%
CSVIComputer Services, Inc.Technology0.0%
CWTCalifornia Water Service GroupUtilities1.6%
DOVDover Corp.Industrials1.4%
EMREmerson Electric Co.Industrials2.2%
FMCBFarmers & Merchants BancorpFinancial Services1.6%
FRTFederal Realty Investment Trust.Real Estate4.0%
FULH.B. Fuller CompanyBasic Materials1.0%
GPCGenuine Parts Co.Consumer Cyclical2.0%
GRCGorman-Rupp Co.Industrials2.6%
GWWW.W. Grainger, Inc.Industrials1.2%
HRLHormel Foods Corp.Consumer Defensive2.3%
ITWIllinois Tool Works, Inc.Industrials2.2%
JNJJohnson & JohnsonHealthcare2.5%
KMBKimberly-Clark Corp.Consumer Defensive3.4%
KOCoca-Cola Co.Consumer Defensive2.8%
LANCLancaster Colony Corp.Consumer Defensive1.7%
LEGLeggett & Platt, Inc.Consumer Cyclical5.2%
LOWLowe`s Cos., Inc.Consumer Cyclical2.0%
MMM3M Co.Industrials4.7%
MOAltria Group, Inc.Consumer Defensive8.0%
MSAMSA Safety, Inc.Industrials1.4%
MSEXMiddlesex Water Co.Utilities1.4%
NDSNNordson Corp.Industrials1.1%
NFGNational Fuel Gas Co.Energy2.9%
NWNNorthwest Natural Holding Co.Utilities4.0%
PEPPepsiCo, Inc.Consumer Defensive2.5%
PGProcter & Gamble Co.Consumer Defensive2.4%
PPGPPG Industries, Inc.Basic Materials1.9%
PHParker-Hannifin Corp.Industrials1.8%
SCLStepan Co.Basic Materials1.3%
SJWSJW GroupUtilities1.8%
SWKStanley Black & Decker, Inc.Industrials4.0%
TGTTarget CorpConsumer Defensive2.9%
TNCTennant Co.Industrials1.6%
TRTootsie Roll Industries, Inc.Consumer Defensive0.8%
SYYSysco Corp.Consumer Defensive2.4%
UVVUniversal Corp.Consumer Defensive5.8%
VFCVF Corp.Consumer Cyclical7.2%

Who Should Invest In a Dividend King?

Because of their stability and track record, Dividend Kings are great for retirees. They are usually less volatile and pay consistent and growing dividends – which is great for cash flow.

And for risk-averse investors who are starting young, a DRIP (Dividend Re-Investment Plan) can result in higher dividend income in future years.

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