The biggest dividend hikes in Q1
46 stocks announced dividend hikes of 20% or more
The first quarter has ended with a total of 341 dividend hikes by all US listed stocks tracked by dividendhike. Now let´s check out the biggest dividend hikes with a whopping 46 stocks raising the dividend by at least 20%.
The average dividend hike was 10.9% with only 13 stocks raising the dividend by 1% or less, including 3M (MMM), Realty Income (O) and United Parcel Service (UPS). Another fun stat is that the average dividend yield for all stocks annoucing a dividend hike in Q1 is 2.7%. So take that yield and look at the average growth of 10.9%; that’s great stuff for long term dividend investors.
The 10 biggest dividend hikes in Q1 of 2024
Meritage Homes (MTH) +177.8%
Friedman Industries (FRD) +100%
Copa Holdings (CPA) +96.3%
Park Hotels & Resorts (PK) +66.7%
Ituran Location & Control (ITRN) +62.5%
Highpeak Energy (HPK) +60%
ADT (ADT) +57.1%
Walt Disney (DIS) +50%
Ellington Financial (EFC) + 44.4%
Sturm Ruger & Co (RGR) +35.3%
Of these 10 stocks most have a poor dividend history with dividend cuts in previous years of no increases announced for multiple years. Ellington Financial cut the dividend by 40% in 2023, only to announce a 44.4% hike this year to put things in perspective. And Walt Disney hiked by 50%, but did not pay dividends the last couple of years.
Some of the higher quality dividend stocks with strong dividend growth in Q1 of 2024 have already been mentioned in a previous post: ADM, Sherwin-Williams, Fastenal, NextEra Energy and Franklin Electric, all with 25+ years of dividend growth and a double digit hike this year.
ARISTOCRATS RAISING IN 2024
So far we have counted 38 stocks with 25 consecutive years of increased dividends that have announced a dividend hike this year. This includes many offical dividend aristocrats such as MMM, GPC, CINF, KO, KMB, WMT, SPGI, ADM, CVX, LIN and APD. Fun fact is that the average dividend hike by all ‘Aristocrats’ in 2024 has been 5.5%, lagging the broader market’s 10.9% hike. Several Dividend Aristocrats disappointed big time with small hikes, including S&P Global (+1.1%) and Air Products (+1.1%).
The average dividend hike of stocks with 25+ years of dividend growth was only 5.5% in Q1 of 2024, lagging the broader market.
In future publications we will publish the top-100 dividend hikes in the USA, together with other interesting stats about the best dividend growers. For the latest dividend hikes check out dividendhike on X.
Disclaimer: The information provided here is for informational purposes only and should not be considered financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.