Dividend Achievers List Ranked By Yield: Top 30
In this article, we discuss top 30 dividend achievers according to dividend yield. You can skip our detailed analysis of dividend growers and their performance over the years, and go directly to read Dividend Achievers List Ranked By Yield: Top 10.
Dividend Achievers are a group of companies known for consistently increasing their dividends for 10 years or more. These companies often attract investors seeking stable income and long-term growth potential. The ability to consistently increase dividends is seen as a sign of financial strength and stability, indicating that the company is generating enough cash flow to reward shareholders while still reinvesting in its business. Historically, dividend growers have shown a tendency to outperform the broader market over certain periods. According to a report by Abrdn PLC, for the past two decades, companies that started paying dividends or regularly increased them did better than the overall global index. These dividend growers and initiators did even better than companies that paid dividends without increasing them and those that didn't pay dividends at all. The report also mentioned that dividend growers have also shown less volatility and produced better risk-adjusted returns during this period.
The S&P 500 Dividend Aristocrats Index follows companies that have consistently increased their dividends for 25 years or more. According to S&P Dow Jones Indices, it's been a tough challenge for most U.S. active managers to beat this index—more than 98% of them fell short over the last decade. Actually, across all the time frames measured, this index has outpaced most active managers in performance. The report further highlighted that in the ten years until June 2023, the S&P 500 Dividend Aristocrats showed an impressive annualized performance of 12.0%, surpassing other benchmarks by a significant margin. In addition to this, the Dividend Aristocrats have outperformed the overall stock market significantly. Over the ten years until 2018, the Dividend Aristocrats showed annualized returns of 12.6%, while the S&P 500 only had annualized returns of 9.7% during that period, according to Forbes. The index delivered these returns with lower volatility than the S&P 500.
Even though the S&P 500 Dividend Aristocrat Index isn't keeping up with the overall market this year, companies that consistently raise dividends are still holding their ground. The S&P U.S. Dividend Growers Index, tracking U.S. companies that have increased dividends yearly for at least 10 years straight, has shown a 6.99% gain this year. Some of the top holdings of the index are Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Visa Inc. (NYSE:V).
Photo by nick chong on Unsplash
Our Methodology:
For this list, we looked at a group of dividend achievers, which are known for raising dividends for 10 years or more. From this list, we chose companies with the highest dividend yields as of November 21 and arranged them in order from lowest to highest yield.
30. Chevron Corporation (NYSE:CVX)
Dividend Yield as of November 21: 4.23%
Chevron Corporation (NYSE:CVX) is one of the world's largest integrated energy companies, engaged in various aspects of the oil, gas, and energy industry. The stock made it to our list of dividend achievers list as the company has been growing its dividends for the past 36 years. It currently pays a quarterly dividend of $1.51 per share and has a dividend yield of 4.23%, as of November 21.
The number of hedge funds tracked by Insider Monkey owning stakes in Chevron Corporation (NYSE:CVX) jumped to 73 in Q2 2023, from 64 in the previous quarter. The collective value of these stakes is more than $21.4 billion.
29. Essex Property Trust, Inc. (NYSE:ESS)
Dividend Yield as of November 21: 4.34%
Essex Property Trust, Inc. (NYSE:ESS) is an American real estate investment trust company that is primarily focused on owning, operating, developing, and acquiring multifamily residential properties. The company was a part of 20 hedge fund portfolios at the end of Q2 2023, according to Insider Monkey's database. The stakes owned by these hedge funds have a value of more than $86.2 million.
Essex Property Trust, Inc. (NYSE:ESS) has been growing its dividends consistently for the past 28 years and it currently pays a quarterly dividend of $2.31 per share. The stock has a dividend yield of 4.34%, as of November 21.
28. Flowers Foods, Inc. (NYSE:FLO)
Dividend Yield as of November 21: 4.39%
Flowers Foods, Inc. (NYSE:FLO) operates bakeries across the US, producing a wide range of fresh bakery items. Their products include bread, buns, rolls, snack cakes, pastries, and tortillas sold under various brand names. On November 16, the company declared a quarterly dividend of $0.23 per share, which was in line with its previous dividend. The company's dividend growth streak currently stands at 21 years. With a dividend yield of 4.39% as of November 21, FLO is added to our dividend achievers list.
At the end of Q2 2023, 21 hedge funds in Insider Monkey's database owned stakes in Flowers Foods, Inc. (NYSE:FLO), worth collectively nearly $146 million. With over 1.2 million shares, AQR Capital Management was the company's leading stakeholder in Q2.
27. Tompkins Financial Corporation (NYSE:TMP)
Dividend Yield as of November 21: 4.42%
Tompkins Financial Corporation (NYSE:TMP) is a financial services company that operates primarily in the banking, insurance, and wealth management sectors. The company's quarterly dividend stands at $0.60 per share and has a dividend yield of 4.42%, as of November 21. It is one of the best dividend stocks on our dividend achievers list as the company maintains a 36-year streak of consistent dividend growth.
As of the close of Q2 2023, 3 hedge funds in Insider Monkey's database reported having stakes in Tompkins Financial Corporation (NYSE:TMP), compared with 6 in the previous quarter. These stakes are collectively valued at over $2.1 million.
26. Edison International (NYSE:EIX)
Dividend Yield as of November 21: 4.52%
Edison International (NYSE:EIX) is a California-based public utility company that generates electricity through a mix of sources, including natural gas, nuclear, renewable energy, and purchased power. The company currently offers a quarterly dividend of $0.7375 per share and has raised its dividends for 19 consecutive years. With a dividend yield of 4.52% as of November 21, EIX is one of the best dividend stocks on dividend achievers list.
At the end of June 2023, 25 hedge funds owned stakes in Edison International (NYSE:EIX), which remained unchanged from the previous quarter, according to Insider Monkey's database. The consolidated value of these stakes is roughly $1.2 billion.
25. Community Trust Bancorp, Inc. (NASDAQ:CTBI)
Dividend Yield as of November 21: 4.54%
Community Trust Bancorp, Inc. (NASDAQ:CTBI) is an American bank holding company that provides a wide array of traditional banking services, including deposit products such as checking and savings accounts. The company increased its quarterly dividend to $0.46 per share in July, marking a 4.5% rise. This makes 43 consecutive years of dividend growth for CTBI, earning it a spot as one of the top dividend stocks on our dividend achievers list. As of November 21, the stock's dividend yield stood at 4.54%.
Insider Monkey's database of Q2 2023 showed that 8 hedge funds owned stakes in Community Trust Bancorp, Inc. (NASDAQ:CTBI), compared with 7 in the previous quarter. The consolidated value of these stakes is more than $11.7 million. Among these hedge funds, Millennium Management was the company's leading stakeholder in Q2.
24. American Electric Power Company, Inc. (NASDAQ:AEP)
Dividend Yield as of November 21: 4.57%
American Electric Power Company, Inc. (NASDAQ:AEP) is a major electric utility company, based in Ohio, US. The company has held a long streak of paying regular dividends to shareholders since 1910 and also maintains a 14-year track record of consistent dividend growth. It currently pays a quarterly dividend of $0.88 per share and has a dividend yield of 4.57%, as of November 21.
As per Insider Monkey's database of Q2 2023, 33 hedge funds owned stakes in American Electric Power Company, Inc. (NASDAQ:AEP), compared with 34 in the preceding quarter. The collective value of these stakes is over $674 million.
23. Duke Energy Corporation (NYSE:DUK)
Dividend Yield as of November 21: 4.58%
Duke Energy Corporation (NYSE:DUK) is a North Carolina-based energy company that operates primarily in the electric power and natural gas industries. The company has a 97-year run of making regular dividend payments to shareholders and it also has been rewarding them with growing dividends for the past 12 years. The company's current quarterly dividend stands at $1.025 per share and has a dividend yield of 4.58%, as of November 21.
Of the 910 hedge funds in Insider Monkey's database at the end of Q2 2023, 39 funds owned investments in Duke Energy Corporation (NYSE:DUK), worth over $510.4 million.
22. Eversource Energy (NYSE:ES)
Dividend Yield as of November 21: 4.60%
Eversource Energy (NYSE:ES) is an American utility company primarily focused on providing electric and natural gas services to customers in several states. It is one of the best stocks on our dividend achievers list as the company has been growing its dividends consistently for the past 25 years. The company offers a quarterly dividend of $0.675 per share and has a dividend yield of 4.60%, as of November 21.
The number of hedge funds tracked by Insider Monkey owning stakes in Eversource Energy (NYSE:ES) grew to 29 in Q2 2023, from 26 in the previous quarter. The total value of these stakes is roughly $437 million. With over 1.2 million shares, GLG Partners was the company's leading stakeholder in Q2.
21. Bristol-Myers Squibb Company (NYSE:BMY)
Dividend Yield as of November 21: 4.68%
Bristol-Myers Squibb Company (NYSE:BMY) is a global biopharmaceutical company engaged in the discovery, development, and commercialization of innovative medicines. The company has been raising its dividends for 17 consecutive years and currently pays a quarterly dividend of $0.57 per share. As of November 21, the stock has a dividend yield of 4.68%.
As of the end of Q2 2023, 66 hedge funds in Insider Monkey's database owned investments in Bristol-Myers Squibb Company (NYSE:BMY), worth over $1.7 billion in total.
20. Alexandria Real Estate Equities, Inc. (NYSE:ARE)
Dividend Yield as of November 21: 4.81%
Alexandria Real Estate Equities, Inc. (NYSE:ARE) is a California-based real estate investment trust company focused on providing real estate solutions to the life science and technology industries. The company currently offers a quarterly dividend of $1.24 per share, having raised it by 2.5% in June this year. Through this increase, the company stretched its dividend growth streak to 14 years, which places ARE on our dividend achievers list. The stock's dividend yield on November 21 came in at 4.81%.
At the end of Q2 2023, 33 hedge funds tracked by Insider Monkey owned investments in Alexandria Real Estate Equities, Inc. (NYSE:ARE), which remained the same as in the previous quarter. The collective value of these stakes is more than $206 million.
19. ALLETE, Inc. (NYSE:ALE)
Dividend Yield as of November 21: 4.90%
ALLETE, Inc. (NYSE:ALE) is an American diversified energy company that provides electric utility services to residential, commercial, industrial, and municipal customers. The company has a 73-run of paying regular dividends to shareholders and it also holds a 13-year track record of consistent dividend growth. It currently offers a quarterly dividend of $0.6775 per share and has a dividend yield of 4.90%, as recorded on November 21.
ALLETE, Inc. (NYSE:ALE) was a popular stock among elite funds in Q2 2023, as hedge fund positions in the company grew to 21 during the quarter, from 9 in the previous quarter, as per Insider Monkey's data. The stakes owned by these hedge funds are collectively valued at over $90.2 million.
18. Black Hills Corporation (NYSE:BKH)
Dividend Yield as of November 21: 4.91%
An American energy company, Black Hills Corporation (NYSE:BKH) is next on our dividend achievers list. The company has been rewarding shareholders with growing dividends for the past 52 years and it pays a quarterly dividend of $0.67 per share. As of November 21, the stock has a dividend yield of 4.91%.
Out of the 910 hedge funds tracked by Insider Monkey at the end of Q2 2023, 20 funds held stakes in Black Hills Corporation (NYSE:BKH), up from 18 in the preceding quarter. These stakes are collectively worth over $113.4 million.
17. Associated Banc-Corp (NYSE:ASB)
Dividend Yield as of November 21: 4.94%
Associated Banc-Corp (NYSE:ASB) is a bank holding company that provides a range of financial services to individuals, businesses, and commercial clients. On October 24, the company declared a 4.8% hike in its quarterly dividend to $0.22 per share. Through this increase, the company took its dividend growth streak to 12 years, which places ASB on our dividend achievers list. The stock has a dividend yield of 4.94%, as of November 21.
As of the end of Q2 2023, 19 hedge funds owned stakes in Associated Banc-Corp (NYSE:ASB), compared with 21 in the previous quarter, as per Insider Monkey's database. The consolidated value of these stakes is more than $91.2 million. With nearly 3 million shares, Pzena Investment Management was the company's leading stakeholder in Q2.
16. CubeSmart (NYSE:CUBE)
Dividend Yield as of November 21: 5.02%
CubeSmart (NYSE:CUBE) is an American real estate investment trust company that specializes in owning, operating, acquiring, and managing self-storage facilities. The company offers a quarterly dividend of $0.49 per share and has a dividend yield of 5.02%, as of November 21. It holds a 13-year streak of consistent dividend growth.
At the end of June 2023, 19 hedge funds tracked by Insider Monkey reported having stakes in CubeSmart (NYSE:CUBE), compared with 20 in the preceding quarter. The overall value of these stakes is roughly $80 million.
15. Extra Space Storage Inc. (NYSE:EXR)
Dividend Yield as of November 21: 5.03%
An American real estate investment trust company, Extra Space Storage Inc. (NYSE:EXR) specializes in owning, operating, acquiring, and managing self-storage properties. On November 16, the company declared a quarterly dividend of $1.62 per share, which was consistent with its previous dividend. The stock's dividend yield on November 21 came in at 5.03%.
The number of hedge funds tracked by Insider Monkey owning stakes in Extra Space Storage Inc. (NYSE:EXR) grew to 27 in Q2 2023, from 23 in the previous quarter. The consolidated value of these stakes is over $482 million.
14. Franklin Resources, Inc. (NYSE:BEN)
Dividend Yield as of November 21: 5.03%
Franklin Resources, Inc. (NYSE:BEN) is a global investment management company offering a range of financial services and investment products to individual and institutional clients. The company's dividend growth streak currently stands at 47 years and it pays a quarterly dividend of $0.30 per share. The stock has a dividend yield of 5.03%, as recorded on November 21.
At the end of Q2 2023, 19 hedge funds in Insider Monkey owned stakes in Franklin Resources, Inc. (NYSE:BEN), worth collectively nearly $170 million.
13. NorthWestern Corporation (NASDAQ:NWE)
Dividend Yield as of November 21: 5.05%
NorthWestern Corporation (NASDAQ:NWE) is a utility company that provides electricity and natural gas to residential, commercial, and industrial customers in several states in the US. On October 27, the company declared a quarterly dividend of $0.64 per share, which was consistent with its previous dividend. The company has been raising its dividends for 18 consecutive years, which places NWE on our dividend achievers list. The stock has a dividend yield of 5.05%, as of November 21.
The number of hedge funds tracked by Insider Monkey owning stakes in NorthWestern Corporation (NASDAQ:NWE) stood at 14 in Q2 2023, which remained the same in the previous quarter. The collective value of these stakes is over $107.7 million.
12. Kaiser Aluminum Corporation (NASDAQ:KALU)
Dividend Yield as of November 21: 5.11%
Kaiser Aluminum Corporation (NASDAQ:KALU) is a California-based aluminum company. It offers a quarterly dividend of $0.77 per share and has a dividend yield of 5.11%, as of November 21. The company holds an impressive 11-year track record of consistent dividend growth.
As of the end of June 2023, 11 hedge funds tracked by Insider Monkey reported having stakes in Kaiser Aluminum Corporation (NASDAQ:KALU), down from 12 in the preceding quarter. The consolidated value of these stakes is over $24 million.
11. Fifth Third Bancorp (NASDAQ:FITB)
Dividend Yield as of November 21: 5.11%
An American regional bank holding company, Fifth Third Bancorp (NASDAQ:FITB) is next on our dividend achievers list. The company offers a quarterly dividend of $0.35 per share, having raised it by 6.1% in September this year. This was the company's 11th consecutive year of dividend growth. The stock has a dividend yield of 5.11%, as of November 21.
As per Insider Monkey's database of Q2 2023, 39 hedge funds owned stakes in Fifth Third Bancorp (NASDAQ:FITB), compared with 44 in the previous quarter. These stakes have a total value of roughly $500 million.
Click to continue reading and see Dividend Achievers List Ranked By Yield: Top 10.
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Disclosure. None. Dividend Achievers List Ranked By Yield: Top 30 is originally published on Insider Monkey.