11 Upcoming Dividend Increases Including A King

seekingalpha05-10

Dividend King MSA Safety Incorporated extends its 53-year dividend growth streak with an 8.5% increase.Companies on the list have dividend streaks ranging from 6 to 31 years, with an average increase ...

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this week's headline looks much like last week's. The exception is that we have just one dividend king this week: MSA Safety Incorporated (MSA). MSA extends its 53-year growth streak with an 8.5% increase. A dividend king status is something to be celebrated, a testament to a quality business's ability to reward shareholders for over 50 years. The other companies on the list have streaks ranging from 6 to 31 years. Together, they feature an average increase of 7.6% and a median of 8.1%. I adhere to a dividend-growth strategy that enables me to receive increasing dividend payouts from companies that regularly increase their dividends. Through my diligent monitoring of such companies, I have identified a list of top-performing stocks poised to increase their dividends shortly. This list can be leveraged to make prudent investments and establish a well-positioned portfolio for long-term success. How I Created The Lists The following information is a result of merging two sources of data: the \"U.S. Dividend Champions\" spreadsheet from a particular website and upcoming dividend data from NASDAQ. This process combines data on companies with a consistent dividend growth history with future dividend payments. It's important to understand that all companies included in this list have consistently grown their dividends for at least five years. Companies must have higher total yearly dividends to be included in this list. Therefore, 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 the last day you can purchase shares to qualify for an upcoming dividend or distribution. To be eligible, 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. If the ex-dividend date falls on a Monday (or a Tuesday following a holiday on Monday), you must have purchased 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 1   Contender 8   Challenger 1   Click to enlarge The Dividend Increases List Data was sorted by the ex-dividend date (ascending) and then by the streak (descending):         Name Ticker Streak Forward Yield Ex-Div Date Increase Percent Streak Category   American Water Works Company, Inc. (AWK) 16 2.3 13-May-24 8.05% Contender   Timken Company (The) (TKR) 11 1.51 13-May-24 3.03% Contender   MSA Safety Incorporated (MSA) 53 1.09 14-May-24 8.51% King   PACCAR Inc. (PCAR) 14 1.12 14-May-24 11.11% Contender   ConnectOne Bancorp, Inc. (CNOB) 6 3.62 14-May-24 5.88% Challenger   Bar Harbor Bankshares, Inc. (BHB) 21 4.59 15-May-24 7.14% Contender   Pool Corporation (POOL) 14 1.31 15-May-24 9.09% Contender   RTX Corporation (RTX) 31 2.42 16-May-24 6.78% Champion   Southern Company (The) (SO) 23 3.71 17-May-24 2.86% Contender   Phillips 66 (PSX) 12 3.13 17-May-24 9.52% Contender   Tetra Tech, Inc. (TTEK) 10 0.55 17-May-24 11.54% Contender   Click to enlarge Field Definitions Streak: Years of dividend growth history are sourced from the U.S. Dividend Champions spreadsheet. Forward Yield: The payout rate is calculated by dividing the new payout rate 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 is a table that shows the new and old rates and the percentage increase. The table is sorted by ex-dividend day in ascending order and dividend streak in descending order.    Ticker Old Rate New Rate Increase Percent   AWK 0.708 0.765 8.05%   TKR 0.33 0.34 3.03%   MSA 0.47 0.51 8.51%   PCAR 0.27 0.3 11.11%   CNOB 0.17 0.18 5.88%   BHB 0.28 0.3 7.14%   POOL 1.1 1.2 9.09%   RTX 0.59 0.63 6.78%   SO 0.7 0.72 2.86%   PSX 1.05 1.15 9.52%   TTEK 0.26 0.29 11.54%   Click to enlarge 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.    Ticker Current Price 52 Week Low 52 Week High PE Ratio % Off Low % Off High   AWK 132.9 112.94 148.76 41.19 18% Off Low 11% Off High   TKR 89.84 65.14 94.71 16.01 38% Off Low 5% Off High   MSA 187.58 135.22 196.02 42.72 39% Off Low 4% Off High   PCAR 107.09 63.08 125.5 21.06 70% Off Low 15% Off High   CNOB 19.9 12.47 24.02 11.32 60% Off Low 17% Off High   BHB 26.16 20.24 29.69 13.08 29% Off Low 12% Off High   POOL 366 303.19 420.98 41.67 21% Off Low 13% Off High   RTX 104.01 67.61 104.09 0 54% Off Low 0% Off High   SO 77.64 60.31 77.77 20.77 29% Off Low 0% Off High   PSX 146.95 87.47 174.08 0 68% Off Low 16% Off High   TTEK 211.83 131.04 216.24 37.84 62% Off Low 2% Off High   Click to enlarge Tickers By Yield And Growth Rates I've arranged the table in descending order so that investors can 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   BHB 4.59 7.7 8.4 7 7.1 11.7   SO 3.71 3 3 3.1 3.3 6.8   CNOB 3.62 9.7 23.6 17.8 9.3 21.5   PSX 3.13 6.1 5.3 5.6 11.6 8.8   RTX 2.42 7.3 7.5 5.5 5.3 7.9   AWK 2.3 8 8.8 9.2 9.7 11.5   TKR 1.51 6.5 5 3.4 3.5 4.9   POOL 1.31 10 23.8 19.6 19.2 20.9   PCAR 1.12 11.6 7.5 6.5 7.1 7.6   MSA 1.09 2.2 3 4.4 4.6 5.5   TTEK 0.55 13.1 15.2 16.7   17.2   Click to enlarge Historical Returns My investment strategy centers on identifying stocks with a consistent track record of outperforming the market while increasing their dividend payouts. I have employed the Schwab U.S. Dividend Equity ETF (SCHD) as a benchmark to compare the performance of individual stocks. SCHD has a long history of exceptional performance, a higher yield than the S&P 500, and a proven record of growing dividends. I prefer investing in the ETF if a stock cannot outperform the benchmark. Based on this analysis, I have included several companies in my personal investment portfolio. Furthermore, I rely on this analysis to make timely additional purchases for my portfolio. The ten-year dividend growth rate is one of the four main factors in the index behind SCHD. It's also a proxy for success, although it's not a perfect predictor. Share prices tend to follow strong dividend growth over long periods. Here's a comparison of SCHD versus the ten with 10-year dividend growth rates. Data by YCharts Let's jump into the results. SCHD returned about 188% over the past decade (dividends are reinvested in all these results). The top performers were POOL (616%), MSA (335%), PCAR (271%), and AWK (243%). I also own POOL, though I can't take credit for having owned it for a full decade. Southern Company was right after SCHD with a 171% total return, which is very respectable for utility. Performance drops slightly after that, with PSX and TKR slightly underperforming SCHD over the full decade. BHB, RTX, and finally, CNOB brought up the bottom of the pack. Please do your due diligence before making any investment decision.  Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. 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