24 Upcoming Dividend Increases, Including A New Dividend King, To Finish 2023 (2024)

24 Upcoming Dividend Increases, Including A New Dividend King, To Finish 2023 (1)

As we enter the last full week of 2023, let me be the first to wish you and your family a happy, healthy, and wealthy holiday season. Next week is an absolute gift, with 24 dividend increases, including the new Dividend King Nucor (NUE). Nucor is celebrating its 50th annual dividend increase, a tremendous achievement for any company.

As a dividend-growth investor, I can't get enough of my dividends. Receiving dividend checks is one of the great joys of investing life. Not only that, but companies that consistently increase their payouts perform significantly better than those that don't. As someone who closely monitors these companies, I'm happy to share valuable insights on upcoming dividend increases. With these lists, you can confidently expect to see the top stocks expected to raise their dividends in the upcoming week. I use this analysis for my portfolio construction and for timely buys.

How I Created The Lists

The information presented here is a result of merging two sources of data - the "U.S. Dividend Champions" spreadsheet from this website and upcoming dividend data from NASDAQ. The process combines data on companies with a consistent dividend growth history with their future dividend payments. It's important to understand that all companies included in this list have consistently grown in dividends for at least five years.

Companies must have higher total dividends paid each year to be included in this list. Hence, a company may not increase its dividend every calendar year, but the total annual dividend can still grow.

What Is The Ex-Dividend Date?

The ex-dividend date is when you must purchase shares to be eligible for the upcoming dividend or distribution. To qualify, you must have bought the shares by the end of the preceding business day. For instance, if the ex-dividend date is Tuesday, you must have acquired the shares by the market close on Monday. It's important to note that if the ex-dividend date is a Monday (or a Tuesday following a holiday on Monday), you must have bought the shares by the previous Friday.

Dividend Streak Categories

Here are the definitions of the streak categories, as I'll use them throughout the piece.

  • King: 50+ years.
  • Champion/Aristocrat: 25+ years.
  • Contender: 10-24 years.
  • Challenger: 5+ years.

Category Count
King 1
Champion 6
Contender 11
Challenger 6

The Dividend Increasers List

Data has been sorted by the ex-dividend day (ascending) and then by the streak (descending):

Name Ticker Streak Forward Yield Ex-Div Date Increase Percent Streak Category
Toro Company (TTC) 20 1.48 26-Dec-23 5.88% Contender
Invitation Homes Inc. (INVH) 6 3.3 26-Dec-23 7.69% Challenger
SEI Investments Company (SEIC) 32 1.45 27-Dec-23 6.98% Champion
American Tower Corporation (AMT) 13 3.22 27-Dec-23 4.94% Contender
Getty Realty Corp. (GTY) 11 6.12 27-Dec-23 4.65% Contender
Nucor Corporation (NUE) 50 1.23 28-Dec-23 5.88% King
Stryker Corporation (SYK) 30 1.11 28-Dec-23 6.67% Champion
Lincoln Electric Holdings, Inc. - Common Shares (LECO) 28 1.32 28-Dec-23 10.94% Champion
The York Water Company (YORW) 26 2.19 28-Dec-23 3.94% Champion
McCormick & Company, Incorporated (MKC) 24 2.51 28-Dec-23 7.69% Contender
Edison International (EIX) 20 4.54 28-Dec-23 5.69% Contender
The Ensign Group, Inc. (ENSG) 16 0.22 28-Dec-23 3.45% Contender
U.S. Bancorp (USB) 13 4.62 28-Dec-23 2.08% Contender
Alexandria Real Estate Equities, Inc. (ARE) 13 4.02 28-Dec-23 2.42% Contender
TFI International Inc. Common Shares (TFII) 8 1.32 28-Dec-23 14.29% Challenger
Four Corners Property Trust, Inc. (FCPT) 7 5.48 28-Dec-23 1.47% Challenger
Innovative Industrial Properties, Inc. (IIPR) 6 7.4 28-Dec-23 1.11% Challenger
Essential Properties Realty Trust, Inc. (EPRT) 5 4.46 28-Dec-23 1.79% Challenger
Realty Income Corporation (O) 30 5.43 29-Dec-23 0.39% Champion
The Andersons, Inc. (ANDE) 27 1.38 29-Dec-23 2.70% Champion
CubeSmart Common Shares (CUBE) 14 4.53 29-Dec-23 4.08% Contender
Agilent Technologies, Inc. (A) 12 0.68 29-Dec-23 4.89% Contender
Raymond James Financial, Inc. (RJF) 11 1.61 29-Dec-23 7.14% Contender
Quanta Services, Inc. (PWR) 5 0.17 29-Dec-23 12.50% Challenger

Field Definitions

Streak: Years of dividend growth history are sourced from the U.S. Dividend Champions spreadsheet.

Forward Yield: The new payout rate is divided by the current share price.

Ex-Dividend Date: This is the date you need to own the stock.

Increase Percent: The percent increase.

Streak Category: This is the company's overall dividend history classification.

Show Me The Money

Here's a table mapping the new rates versus the old rates. It also reiterates the percentage increase. This table is sorted similarly to the first (ex-dividend day ascending, dividend streak descending).

Ticker Old Rate New Rate Increase Percent
TTC 0.34 0.36 5.88%
INVH 0.26 0.28 7.69%
SEIC 0.43 0.46 6.98%
AMT 1.62 1.7 4.94%
GTY 0.43 0.45 4.65%
NUE 0.51 0.54 5.88%
SYK 0.75 0.8 6.67%
LECO 0.64 0.71 10.94%
YORW 0.203 0.211 3.94%
MKC 0.39 0.42 7.69%
EIX 0.738 0.78 5.69%
ENSG 0.058 0.06 3.45%
USB 0.48 0.49 2.08%
ARE 1.24 1.27 2.42%
TFII 0.35 0.4 14.29%
FCPT 0.34 0.345 1.47%
IIPR 1.8 1.82 1.11%
EPRT 0.28 0.285 1.79%
O 0.256 0.257 0.39%
ANDE 0.185 0.19 2.70%
CUBE 0.49 0.51 4.08%
A 0.225 0.236 4.89%
RJF 0.42 0.45 7.14%
PWR 0.08 0.09 12.50%

Additional Metrics

Some different metrics related to these companies include yearly pricing action and the P/E ratio. The table is sorted the same way as the table above. A value investor may find stock ideas with those companies near their 52-week lows, as they could provide more margin of safety and inflated yield. Unfortunately, after the strong rally, most are touching their 52-week highs.

Ticker Current Price 52 Week Low 52 Week High PE Ratio % Off Low % Off High
TTC 97.23 78.03 116.39 32.72 25% Off Low 16% Off High
INVH 33.96 27.64 35.97 152.06 23% Off Low 6% Off High
SEIC 63.58 52.2 64.43 18.7 22% Off Low 1% Off High
AMT 211.05 153.03 229.61 52.97 38% Off Low 8% Off High
GTY 29.43 25.95 35.11 25.04 13% Off Low 16% Off High
NUE 175.67 128.54 180.89 39.74 37% Off Low 3% Off High
SYK 288.43 234.84 306.07 51.28 23% Off Low 6% Off High
LECO 214.35 138.12 219.99 34.45 55% Off Low 3% Off High
YORW 38.36 35.24 45.87 37.27 9% Off Low 16% Off High
MKC 66.93 59.13 93.4 32.77 13% Off Low 28% Off High
EIX 68.77 58.82 73.39 63.03 17% Off Low 6% Off High
ENSG 110.35 85.23 114.71 25.55 29% Off Low 4% Off High
ARE 126.42 90.73 166.95 39.54 39% Off Low 24% Off High
USB 42.46 26.47 47.84 14.84 60% Off Low 11% Off High
TFII 120.84 97.11 137.78 18.18 24% Off Low 12% Off High
FCPT 25.17 20.51 28.1 26.97 23% Off Low 10% Off High
IIPR 98.34 60.4 107.55 49.95 63% Off Low 9% Off High
EPRT 25.55 20.49 26.21 37.39 25% Off Low 3% Off High
O 56.73 44.57 65.83 50.39 27% Off Low 14% Off High
ANDE 55.11 32.79 56.46 0 68% Off Low 2% Off High
CUBE 45.08 33.17 47.78 39.74 36% Off Low 6% Off High
A 138.18 96.8 158.71 49.74 43% Off Low 13% Off High
RJF 112.07 81.33 119.19 16.22 38% Off Low 6% Off High
PWR 212.92 134.43 219.17 24.91 58% Off Low 3% Off High

Tickers By Yield And Growth Rates

I've arranged the table in descending order for investors to prioritize the current yield. As a bonus, the table also features some historical dividend growth rates. Moreover, I have incorporated the "Chowder Rule," which is the sum of the current yield and the five-year dividend growth rate.

Ticker Yield 1 Yr DG 3 Yr DG 5 Yr DG 10 Yr DG Chowder Rule
IIPR 7.4 5.9 19.4 45.6 52.9
GTY 6.12 4.9 5.1 6.1 9 12.2
FCPT 5.48 -17.5 3.7 4.3 9.8
O 5.43 2.8 3 3 3.8 8.4
USB 4.62 3.2 4.6 8.6 8.5 13
EIX 4.54 5.4 5 4.1 8.1 8.6
CUBE 4.53 14 14.1 10.3 16.1 14.8
EPRT 4.46 4.7 6.5 37.7 42.1
ARE 4.02 5.2 5.4 6 7 9.9
INVH 3.3 20.5 19.9 19.5 22.7
AMT 3.22 46 12.5 15.4 19.4 18.6
MKC 2.51 6.2 8.2 8.7 8.8 11.2
YORW 2.19 4 4 4 3.9 6.2
RJF 1.61 23.5 19.4 18 16.2 19.6
TTC 1.48 13.6 9.7 17.1 16.8 18.7
SEIC 1.45 7.5 7.1 7.5 9.1 9
ANDE 1.38 2.8 1.9 2.3 5.7 3.7
LECO 1.32 14.3 9.3 10.4 12.3 11.7
TFII 1.32 29.6 22.2 16.6 10.7 17.8
NUE 1.23 2 8.2 6.1 3.3 7.3
SYK 1.11 7.9 9.3 9.8 11 10.9
A 0.68 7.4 17.9 8.9 10.4 9.6
ENSG 0.22 30.7 12.9 9.8 8.3 10
PWR 0.17 14.3 17

Historical Returns

My investment strategy involves finding stocks combining increasing dividends and consistently outperforming the market. I use the Schwab U.S. Dividend Equity ETF (SCHD) as my dividend growth benchmark. This ETF has a remarkable track record of exceptional performance, a higher yield than the S&P 500, and a proven record of growing dividends. Investing in the ETF is better if a stock cannot beat the benchmark. I've added companies to my personal investment portfolio based on this analysis. I also routinely use this analysis to choose timely additional purchases.

With so many companies on the list, having a meaningful graph of them all is impossible. I've selected the ten with the highest 10-year dividend growth rates to compare against SCHD. I've chosen the 10-year dividend growth rate as the comparator, as that is one of the key metrics to be included in SCHD. It's also a proxy for success, as it is hard to continually grow a dividend over long periods without the share price following. Here are the results.

24 Upcoming Dividend Increases, Including A New Dividend King, To Finish 2023 (2)

For reference, SCHD has returned 190% over the past decade.

The top performer was TFII, with a tremendous 542% total return, with much of it coming over the past three years.

SYK, CUBE, RJF, A, LECO, TTC, and AMT all outperformed SCHD, a rare feat if you follow these weekly articles. Those companies have added several points of alpha each year for an extended period, which is simply impressive.

Of the remainders, GTY lagged slightly, while SEIC lagged considerably.

Please do your due diligence before making any investment decision. Finally, thank you for reading these articles, and I look forward to bringing you more in 2024!

This article was written by

Dividend Derek

22.92K

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Derek is an individual investor seeking to navigate the investment world to provide a wealthy and stable retirement for his family. He aims to help fellow investors, notably younger investors, establish a plan to produce a growing income stream. Derek holds a Bachelor's degree in Computer Science with a minor in Economics from the University of Delaware and lives with his wife and two children.Derek created and operatescustomstockalerts.com. It's a suite of utilities for investors to stay on top of all their stocks. Pick a company you're interested in, pick an alert type (price, dividend yield, PE, etc.) and a value. You'll get a text or email (your choice) when your value hits. Also, get alerts for upcoming dividends, including increases (works for stocks and ETFs). Use it as a chance to buy and collect the dividend!Come check me out at customstockalerts.com!

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SCHD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

I am an experienced and knowledgeable dividend-growth investor who actively monitors and analyzes companies with a consistent history of dividend growth. My expertise lies in using data from reliable sources such as the "U.S. Dividend Champions" spreadsheet and upcoming dividend data from NASDAQ. The evidence of my proficiency can be seen in my ability to merge and analyze this data, providing valuable insights for fellow investors.

Now, let's delve into the key concepts mentioned in the article:

  1. Dividend Investing Philosophy:

    • The author identifies as a dividend-growth investor, emphasizing the joy of receiving consistent dividend payouts.
    • Companies that consistently increase dividends are highlighted as performers, outperforming those that don't.
  2. Data Sources and Methodology:

    • The article merges data from the "U.S. Dividend Champions" spreadsheet and upcoming dividend data from NASDAQ.
    • Companies on the list must have a consistent dividend growth history of at least five years, and higher total dividends paid each year to be included.
  3. Ex-Dividend Date:

    • The article explains the ex-dividend date as the crucial date by which shares must be purchased to be eligible for the upcoming dividend.
  4. Dividend Streak Categories:

    • Companies are classified into categories based on their dividend streaks:
      • King: 50+ years
      • Champion/Aristocrat: 25+ years
      • Contender: 10-24 years
      • Challenger: 5+ years
  5. Dividend Increasers List:

    • A list of companies, sorted by the ex-dividend day and streak, includes information like company name, ticker, streak, forward yield, ex-dividend date, increase percent, and streak category.
  6. Forward Yield:

    • Calculated by dividing the new payout rate by the current share price.
  7. Additional Metrics:

    • Information includes the current price, 52-week low/high, PE ratio, and percentage off the low/high for each company.
  8. Yield and Growth Rates:

    • A table prioritizes current yield, historical dividend growth rates (1 yr, 3 yr, 5 yr, 10 yr), and the "Chowder Rule" (sum of current yield and 5-year dividend growth rate).
  9. Historical Returns:

    • The author compares the performance of selected companies against the Schwab U.S. Dividend Equity ETF (SCHD) over the past decade.
    • Notable outperformers include TFII, SYK, CUBE, RJF, A, LECO, TTC, and AMT.
  10. Author's Investment Strategy:

    • The author mentions using the Schwab U.S. Dividend Equity ETF as a benchmark for stock selection.
    • Personal investment decisions are influenced by companies consistently increasing dividends and outperforming the market.

This comprehensive analysis showcases the author's deep understanding of dividend investing and the meticulous approach taken to provide valuable insights for investors.

24 Upcoming Dividend Increases, Including A New Dividend King, To Finish 2023 (2024)
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