The Top 15 Dividend Track Records in 2024

All stats: 2024 returns, dividend hikes and dividend yields

Dec 31, 2024

As we enter 2024, certain companies continue to stand out for their consistency in raising dividends, even amidst market volatility. These companies have demonstrated their ability to reward shareholders with reliable dividend increases, and many of them have shown impressive long-term growth. Below, we take a look at the top 15 stocks with the best dividend history, the dividend hikes in 2024, and some other key statistics that define these companies.

The full table is displayed at the end of this article!

1. American States Water (AWR)

American States Water raised its dividend by 2.4% in 2024, demonstrating its solid dividend track record despite a somewhat negative year-to-date performance of -0.9%. The company operates in the water utility sector, with a 5-year average annual growth rate (CAGR) of 8.3%. With a market capitalization of $3 billion, it remains a reliable choice for dividend investors.

2. Dover Corp (DOV)

Dover Corp increased its dividend by 1.1% in 2024. The company, which focuses on industrial technologies, has posted an impressive total return of 23.8% in 2024, despite a relatively modest dividend increase. Its 5-year CAGR of 1.0% shows that Dover has managed to maintain a stable dividend, though the growth rate isn't particularly high.

3. Northwest Natural Holding (NWN)

Northwest Natural Holding raised its dividend by 5.0% in 2024, which is a significant increase for a company operating in the gas and water utility sector. The company has a modest 5-year CAGR of 0.5%, but its recent dividend hike reflects a stable position in the market. It has a market capitalization of $2 billion and is an important player in the utility sector.

4. Genuine Parts (GPC)

Genuine Parts increased its dividend by 3.4% in 2024. The company, which is active in automotive parts distribution, has faced some market volatility, with a negative YTD performance of -13.1%. However, Genuine Parts remains a stable choice for dividend investors, with a 5-year CAGR of 5.3%.

5. Emerson Electric (EMR)

Emerson Electric raised its dividend by 1.7% in 2024, which is relatively modest given the company's strong performance in other areas of the market. The company posted an impressive YTD return of 31.6% in 2024, despite the smaller dividend hike. Its 5-year CAGR of 0.5% is low, but the company's overall growth makes it a solid pick for dividend investors.

6. Parker-Hannifin (PH)

Parker-Hannifin increased its dividend by 1.0% in 2024, a smaller hike compared to some other companies on this list. However, the company, which focuses on motion and control technologies, has achieved an impressive 5-year CAGR of 10.1%. The company also posted a remarkable YTD return of 41.3% in 2024, highlighting its strong performance on the stock market.

7. Procter & Gamble (PG)

Procter & Gamble raised its dividend by 2.4% in 2024. The company boasts an impressive dividend history, with a 5-year CAGR of 7.0%. With a market capitalization of nearly $400 billion, the company is one of the largest players in the consumer packaged goods industry. Despite a slight negative performance in the last month (-5.5%), it remains an attractive option for dividend investors.

8. Cincinnati Financial (CINF)

Cincinnati Financial raised its dividend by 2.2% in 2024, reflecting the company's strong financial position in the property and casualty insurance sector. It achieved an impressive YTD return of 42.8% and a 5-year CAGR of 8.0%. The company continues to perform well despite a -9.5% decline over the past month.

9. Lowe's Companies (LOW)

Lowe's Companies raised its dividend by 1.9% in 2024. The company, which operates in the home improvement retail sector, has posted a solid YTD return of 13.7% despite a -9.1% decline over the past month. Its 5-year CAGR of 4.5% highlights the company's consistent growth in both dividends and stock price.

10. Lancaster Colony (LANC)

Lancaster Colony raised its dividend by 2.2% in 2024. The company, specializing in food products, has a 5-year CAGR of 5.6% and has maintained a relatively stable performance in 2024, despite a -5.0% decline over the past month. The solid dividend growth reflects the company’s confidence in the future.

11. Coca-Cola Co (KO)

Coca-Cola raised its dividend by 3.1% in 2024. The company continues to reward its shareholders with stable dividend growth, boasting a 5-year CAGR of 5.4%. Coca-Cola's recent performance has been positive, with a YTD return of 9.2%. It remains a reliable choice for dividend investors in the non-alcoholic beverage industry.

12. Johnson & Johnson (JNJ)

Johnson & Johnson raised its dividend by 3.4% in 2024. The company has a strong dividend history, with a 5-year CAGR of 4.2%. Despite a negative YTD performance of -4.5%, Johnson & Johnson remains an attractive option for investors seeking stable income in the pharmaceutical and medical devices sector.

13. Nordson Corp (NDSN)

Nordson Corp raised its dividend by 1.5% in 2024. The company has an impressive 5-year CAGR of 14.7%, demonstrating its ability to generate strong long-term growth. Despite a -19.4% decline in YTD performance, Nordson remains a solid choice for investors looking for dividend growth in the dispensing systems industry.

14. Colgate-Palmolive (CL)

Colgate-Palmolive raised its dividend by 2.2% in 2024. The company has a 5-year CAGR of 4.2% and has posted a positive YTD return of 17.7%. As one of the largest players in the household and pet food products industry, Colgate-Palmolive continues to reward its shareholders with stable dividend growth.

15. Hormel Foods (HRL)

Hormel Foods raised its dividend by 3.6% in 2024. The company has a modest 5-year CAGR of 2.7%, but its solid dividend growth makes it an attractive choice for investors in the meat and food products sector. Despite a limited rise in its stock price in 2024, it remains a reliable option for dividend investors.

These 15 companies remain excellent options for investors seeking stocks with a strong track record of dividend increases. Whether operating in utilities, industrials, healthcare, or consumer products, these companies have proven their ability to provide consistent dividend growth, even in challenging market conditions.

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.