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11 Dividend Kings That Have Raised Dividends for 50 or More Years
Posted by: Dividend Growth Investor (IP Logged)
Date: January 18, 2012 07:11AM

There are several lists that dividend investors use in order to find investment ideas. The dividend achievers and the dividend champions lists are just two starting points. The lists focus mostly on companies raising distributions for over 10 for the achievers and over 25 years for the champions. There are 11 companies, however, which have each managed to increase distributions for over half a century. This is no small accomplishment, given the fact that the past half a century included several recessions, oil price shocks, high inflation and interest rates and several wars.

The companies with the longest record of annual dividend increases include:

Diebold Incorporated (DBD) provides integrated self-service delivery and security systems and services primarily to the financial, commercial, government, and retail markets worldwide. The company has raised distributions for 58 years in a row. The ten year dividend growth rate is 5.80% per annum. Yield: 3.70% (analysis)

American States Water Company (AWR), engages in the purchase, production, distribution, and sale of water in California as well as in the distribution of electricity in San Bernardino Mountain communities. The company has raised distributions for 57 years in a row. The ten year dividend growth rate is 2.40% per annum. Yield: 3.20%

Dover Corporation (DOV) and its subsidiaries manufacture industrial products and components, as well as provide related services and consumables in the United States and internationally. The company operates through four segments: Industrial Products, Engineered Systems, Fluid Management, and Electronic Technologies. The company has raised distributions for 56 years in a row. The ten year dividend growth rate is 8.50% per annum. Yield: 2.10% (analysis)

Northwest Natural Gas Company (NWN) stores and distributes natural gas primarily in Oregon, Washington, and California. The company operates in two segments, Local Gas Distribution and Gas Storage. The company has raised distributions for 56 years in a row. The ten year dividend growth rate is 3.50% per annum. Yield: 3.80%

Genuine Parts Company (GPC) distributes automotive replacement parts, industrial replacement parts, office products, and electrical/electronic materials in the United States, Puerto Rico, Canada, and Mexico. The company operates in four segments: Automotive Parts Group, Industrial Parts Group, Office Products Group, and Electrical/Electronic Materials Group. The company has raised distributions for 55 years in a row. The ten year dividend growth rate is 4.80% per annum. Yield: 2.80% (analysis)

The Procter & Gamble Company (PG) provides consumer packaged goods in the United States and internationally. The company operates in three global business units (GBUs): Beauty and Grooming, Health and Well-Being, and Household Care. The company has raised distributions for 55 years in a row. The ten year dividend growth rate is 10.90% per annum. Yield: (analysis)

Emerson Electric Co. (EMR), a diversified global technology company, engages in designing and supplying product technology, as well as delivering engineering services and solutions to various industrial, commercial, and consumer markets worldwide. The company has raised distributions for 55 years in a row. The ten year dividend growth rate is 6.40% per annum. Yield: 3.20% (analysis)

3M Company (MMM) , together with subsidiaries, operates as a diversified technology company worldwide. The company has raised distributions for 53 years in a row. The ten year dividend growth rate is 6.20% per annum. Yield: 2.60% (analysis)

Cincinnati Financial Corporation (CINF), through its subsidiaries, operates in the property casualty insurance business in the United States. It operates in four segments: Commercial Lines Property Casualty Insurance, Personal Lines Property Casualty Insurance, Life Insurance, and Investment. The company has raised distributions for 51 years in a row. The ten year dividend growth rate is 8% per annum. Yield: 5.10% (analysis)

Vectren Corporation (VVC) provides energy delivery services to residential, commercial, and industrial and other customers in Indiana and west central Ohio. The company has raised distributions for 52 years in a row. The ten year dividend growth rate is 3.00% per annum. Yield: 4.80%

Parker Hannifin Corporation (PH) manufactures fluid power systems, electromechanical controls, and related components. The company has raised distributions for 54 years in a row. The ten year dividend growth rate is 11.5% per annum. Yield: 1.80%

Two other companies which could join the dividend kings list include Coca-Cola (KO) and Johnson & Johnson (JNJ), which have raised distributions for 49 years in a row.

The purpose of this list is not to provide an investment recommendation, although some of the companies above are attractively valued and fit my entry criteria. The purpose is to deliver a list of stocks which investors could use to analyze the business fundamental behind each of the companies above, which have enabled them to raise distributions for over 50 years in a row

Full Disclosure: Long PG, MMM, EMR, KO, CINF,


Stocks Discussed: PG, MMM, EMR, KO, CINF, DBD, AWR, DOV, NWN, GPC,
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