While the S&P 500 Dividend Aristocrats may be the most recognized list of dividend stocks, it is certainty not the largest. Since the Dividend Aristocrats list is limited only to stocks included in the S&P 500 Index, many smaller stocks are excluded. To expand the population of potential investments, many investors look at the dividend growth stocks included in the Broad Dividend Achievers™ list.
The Broad Dividend Achievers™ Index is comprised of companies incorporated in the U.S. or its territories, that trade on the NYSE, Nasdaq or AMEX, and have increased their annual regular dividend payments for the last 10 or more consecutive years.
In addition, the stock's average daily cash volume must exceed $500,000 per day in the November and December prior to the annual reconstitution date on the last trading date in January. The index is calculated using a modified market capitalization weighting methodology and has been published by the American Stock Exchange under the ticker symbol DAA since Dec. 5, 2003.
This week, I screened my dividend growth stocks database for Dividend Achievers with a yield greater than 4% and that have increased their dividends for at least 25 consecutive years. I excluded companies that were Dividend Aristocrats. The results are presented below:
Vectren Corp. (NYSE:VVC) is an energy holding company that primarily provides energy delivery services to natural gas and electric customers in Indiana and Ohio. The company has paid a cash dividend to shareholders every year since 1946 and has increased its dividend payments for 54 consecutive years.
Old Republic Intl (NYSE:ORI) engages mainly in the general (property and liability), title, and mortgage guaranty and consumer credit indemnity run-off businesses. The company has paid a cash dividend to shareholders every year since 1942 and has increased its dividend payments for 32 consecutive years.
WGL Holdings Inc. (NYSE:WGL) provides natural gas service in the Washington, DC, metropolitan area and surrounding regions, including Maryland and Virginia. The company has paid a cash dividend to shareholders every year since 1852 and has increased its dividend payments for 37 consecutive years.
Northwest Natural Gas Co. (NYSE:NWN) is a natural gas utility that provides service to some 621,000 residential, 64,000 commercial and 1,000 industrial customers in Oregon and southwestern Washington. The company has paid a cash dividend to shareholders every year since 1952 and has increased its dividend payments for 58 consecutive years.
Mercury General Corp. (NYSE:MCY), operating primarily in California, writes a full line of automobile coverage for all classifications of risk. The company has paid a cash dividend to shareholders every year since 1986 and has increased its dividend payments for 26 consecutive years.
Universal Health Realty Income Trust (NYSE:UHT) is a real estate investment trust (REIT) that invests in healthcare and human service related facilities. The company has paid a cash dividend to shareholders every year since 1987 and has increased its dividend payments for 27 consecutive years.
As with past screens, the data presented above is in its raw form. Some of the the companies would be disqualified for poor dividend fundamentals. However some of the others may be worth additional due diligence.
My database, D4L-Data, is an Open Office spreadsheet containing more than 20 columns of information on the 230+ companies that I track. The data is sortable and has built-in buttons and macros to make it easy to use. Companies included in the list are those that have had a history of dividend growth. The D4L-Data spreadsheet is a part of D4L-Premium Services and is updated each Saturday for subscribers.
Full Disclosure: Long NWN, UHT in my Dividend Growth Portfolio and long VVC, MCY in my High-Yield Portfolio. See a list of all my dividend growth holdings here.
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