The Top 25 Dividend Hikes of 2024

CALM, COKE, VRT and GE announce biggest increases

As 2024 comes to a close, it’s time to highlight the companies that made waves with significant dividend hikes this year. The following list showcases the top 25 firms that demonstrated exceptional increases, along with insights into their industries and performance.

1. Cal-Maine Foods (CALM)

• Dividend Hike: 16,883.3%

• Sector: Packaged Foods & Meats
  Cal-Maine Foods, a leader in the packaged food sector, outshone the rest with a staggering dividend increase. This spike underscores its robust financial performance this year.

2. Coca-Cola Consolidated (COKE)

• Dividend Hike: 400.0%

• Sector: Soft Drinks
  A major player in the beverage industry, Coca-Cola Consolidated rewarded investors with a fourfold increase in dividends.

3. Vertiv Holdings (VRT)

• Dividend Hike: 300.0%

• Sector: Electrical Components & Equipment
  Vertiv, specializing in equipment for data centers and telecommunications, saw a strong year, with a substantial dividend hike reflecting its growth.

4. General Electric (GE)

• Dividend Hike: 250.0%

• Sector: Industrial Conglomerates
  GE, a household name in industrials, continued its transformation with a remarkable dividend boost.

5. Meritage Homes (MTH)

• Dividend Hike: 177.8%

• Sector: Homebuilding
  Meritage Homes emphasized its commitment to shareholders with its notable dividend growth despite challenging market conditions.

6. PG&E Corp (PCG)

• Dividend Hike: 150.0%

• Sector: Electric Utilities
  The utility company doubled its dividend, reflecting improvements in operational stability.

7. NVIDIA (NVDA)

• Dividend Hike: 150.0%

• Sector: Semiconductors
  With its dominance in AI and gaming chips, NVIDIA rewarded shareholders as its market value soared to over $3 trillion.

We think its a no brainer to expect more big increases by Nvidia in the next couple of years. With an annual dividend under $1 billion and projected free cash flow exceeding $60 billion for 2025, the potential for growth is huge. 😮

8. Vornado Realty Trust (VNO)

• Dividend Hike: 146.7%

• Sector: Mixed REIT
  This REIT made its mark in real estate with a significant dividend bump.

9. Friedman Industries (FRD)

• Dividend Hike: 100.0%

• Sector: Steel Products
  A smaller player in the steel sector, Friedman showed strength with a doubled dividend.

10. BGC Group (BGC)

• Dividend Hike: 100.0%

• Sector: Investment Banking & Brokerage
  Focused on financial services, BGC delivered a sharp increase for shareholders.

Other Notable Mentions:

• Calavo Growers (CVGW): 100.0% - A key player in avocado products.

• Copa Holdings (CPA): 96.3% - The airline sector saw this standout growth.

• Tecnoglass (TGLS): 66.7% - An architectural glass producer leading in dividend stability.

• Walt Disney (DIS): 66.7% - Returning value to shareholders during its media revival.

Industry Trends

The companies span diverse sectors, including technology (NVIDIA), consumer goods (Coca-Cola Consolidated), and utilities (PG&E). Technology and real estate also had a strong showing, underlining the dynamic range of industries contributing to dividend growth.

Average Metrics

On average, these firms delivered a 774.4% increase in dividends with a 35.8% YTD total return. The largest market cap among them is NVIDIA, with $3.3 trillion, while smaller players like Friedman Industries and CSP Inc highlight how even niche sectors can outperform expectations.

Closing Thoughts

The 2024 dividend leaders reflect a wide spectrum of industries and strategies. From established names like Disney and GE to rising stars such as Tecnoglass and Vertiv, this year showcased impressive resilience and shareholder commitment.

Stay tuned for more insights as we dive into trends shaping the market in 2025!

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.