Over the last several years many companies have chosen to not raise their dividend, while some decided to cut their dividend, and some even decided to stop paying a dividend. In some cases their financials did not warrant the change. As investors in dividend growth stocks, we want to look for companies with a positive dividend culture.
Below are 10 companies that have a long-standing pro-dividend culture. They have paid an uninterrupted dividend since the 1800s - more than 100 years - and have increased their dividend for at least the last 10 years. They are presented here in ascending rank of how long they have paid a dividend, included also is the number of years of consecutive increases:
PPG Industries, Inc. (NYSE:PPG) | Yield: 2.5%
Dividends since: 1899 | Increases: 38 years
PPG is a leading manufacturer of coatings and resins, flat and fiber glass, and industrial and specialty chemicals.
Colgate-Palmolive (NYSE:CL) | Yield: 2.7%
Dividends since: 1895 | Increases: 48 years
Colgate-Palmolive Company (Colgate) is a major consumer products company that markets oral, personal and household care, and pet nutrition products in more than 200 countries and territories.
Coca-Cola Company (NYSE:KO) | Yield: 2.8%
Dividends since: 1893 | Increases: 49 years
The Coca-Cola Company is the world's largest soft drink company with a sizable fruit juice business.
Procter & Gamble (NYSE:PG) | Yield: 3.2%
Dividends since: 1891 | Increases: 54 years
The Procter & Gamble Company is a leading consumer products company that markets household and personal care products in more than 180 countries.
UGI Corporation (NYSE:UGI) | Yield: 3.2%
Dividends since: 1885 | Increases: 24 years
UGI Corp. operates propane distribution, gas and electric utility, energy marketing and related businesses through subsidiaries.
Consolidated Edison, Inc. (NYSE:ED) | Yield: 4.5%
Dividends since: 1885 | Increases: 37 years
Consolidated Edison, Inc. is an electric and gas utility holding company that serves parts of New York, New Jersey and Pennsylvania.
Exxon Mobil Corporation (NYSE:XOM) | Yield: 2.3%
Dividends since: 1882 | Increases: 28 years
Exxon Mobil Corp. (NYSE:XOM) formed through the merger of Exxon and Mobil in late 1999, is the world's largest publicly owned integrated oil company
NSTAR (NST) | Yield: 3.4%
Dividends since: 1879 | Increases: 13 years
NSTAR I a Boston-based holding company that serves some 1.4 million electric and natural gas customers in Massachusetts, has agreed to be acquired by Northeast Utilities.
Stanley Black & Decker Inc. (NYSE:SWK) | Yield: 2.8%
Dividends since: 1877 | Increases: 44 years
Stanley Black & Decker Inc. is diversified global provider of hand tools, power tools and related accessories and systems resulted from the March 2010 merger of StanleyWorks and Black & Decker.
WGL Holdings Inc. (NYSE:WGL) | Yield: 2.5%
Dividends since: 1852 | Increases: 35 years
WGL Holdings Inc. provides natural gas service in the Washington, DC, metropolitan area and surrounding regions, including Maryland and Virginia.
Searching for companies with a strong dividend culture is a great place to start, but before buying we must also consider other important factors such as: dividend fundamentals, ability to cover the dividend and fair value. Ultimately, we want to buy companies that can sustain a growing dividend.
Full Disclosure: Long CL, KO, PG, ED. See a list of all my income holdings here.
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