Dividend Aristocrats List

The Dividend Aristocrats list is a select group of companies in the S&P 500 Index that have increased dividends every year for the last 25 straight years. These US companies that have historically provided (slightly) better performance and (slightly) lower volatility than the S&P 500 as a whole and a great source for dividend investors. See data on all US Dividend Aristocrats in the table below.

Ticker:

Beta:

Dividend Yield (%):

P/E Ratio:

5 year Dividend Growth (%):

10 year Dividend Growth (%):

Name	Ticker	Sector	Valuation	P/E Ratio	3 year Dividend Growth (%)	5 year Dividend Growth (%)	10 year Dividend Growth (%)	Dividend increased years
Linde plc	LIN	Basic Materials	May be undervalued Current dividend yield is 22% above its 5-year average	42.52	0.00	0.00	0.00	25
3M Company	MMM	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	14.66	2.86	5.92	10.41	61
Procter & Gamble	PG	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	26.56	6.17	4.93	5.15	62
Cardinal Health Inc.	CAH	Healthcare	Looks overvalued Current dividend yield is -100% below its 5-year average	29.78	-5.95	2.46	8.83	25
AbbVie Inc.	ABBV	Healthcare	Looks overvalued Current dividend yield is -100% below its 5-year average	24.68	13.15	17.93	0.00	25
Hormel Foods Corp.	HRL	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	29.15	1.47	11.06	14.38	53
V.F. Corp.	VFC	Consumer Cyclical	Looks overvalued Current dividend yield is -100% below its 5-year average	16.18	1.39	5.19	12.08	47
Automatic Data Processing	ADP	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	33.23	11.01	12.14	11.45	44
Lowe's Cos.	LOW	Consumer Cyclical	Looks overvalued Current dividend yield is -100% below its 5-year average	19.57	16.30	17.32	18.80	57
Franklin Resources	BEN	Financial Services	Looks overvalued Current dividend yield is -100% below its 5-year average	7.38	5.95	8.84	17.78	39
T. Rowe Price Group	TROW	Financial Services	Looks overvalued Current dividend yield is -100% below its 5-year average	11.19	37.76	27.65	19.43	33
Grainger (W.W.) Inc.	GWW	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	25.30	0.00	-100.00	-100.00	47
Ecolab Inc.	ECL	Basic Materials	Looks overvalued Current dividend yield is -100% below its 5-year average	43.77	4.89	6.55	10.40	27
Abbott Laboratories	ABT	Healthcare	Looks overvalued Current dividend yield is -100% below its 5-year average	31.08	17.13	11.60	7.15	25
Air Products & Chemicals Inc	APD	Basic Materials	Looks overvalued Current dividend yield is -100% below its 5-year average	23.66	10.89	12.62	10.83	37
Target Corp.	TGT	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	16.03	7.84	6.38	11.13	52
McDonald's Corp.	MCD	Consumer Cyclical	Looks overvalued Current dividend yield is -100% below its 5-year average	23.80	7.81	7.78	7.57	44
Sherwin-Williams	SHW	Basic Materials	Looks overvalued Current dividend yield is -100% below its 5-year average	36.04	-13.84	-8.12	4.19	41
Walgreens Boots Alliance	WBA	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	6.55	4.00	5.15	8.98	43
Becton Dickinson	BDX	Healthcare	Looks overvalued Current dividend yield is -100% below its 5-year average	45.51	3.62	4.39	7.18	47
Colgate-Palmolive	CL	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	28.31	2.55	2.92	4.66	56
AFLAC Inc	AFL	Financial Services	Looks overvalued Current dividend yield is -100% below its 5-year average	9.85	8.27	9.72	7.94	37
Emerson Electric Company	EMR	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	21.19	1.44	1.28	3.53	62
Medtronic plc	MDT	Healthcare	Looks overvalued Current dividend yield is -100% below its 5-year average	30.36	8.01	8.14	10.20	41
Brown-Forman Corp.	BFB	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	38.55	39.15	25.49	17.33	35
Illinois Tool Works	ITW	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	24.95	9.86	14.48	12.92	44
General Dynamics	GD	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	19.93	8.76	9.47	9.82	28
Archer-Daniels-Midland Co	ADM	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	17.53	3.37	4.28	8.49	44
Johnson & Johnson	JNJ	Healthcare	Looks overvalued Current dividend yield is -100% below its 5-year average	22.39	5.78	5.87	6.42	57
Pentair Ltd.	PNR	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	17.33	-8.67	-9.80	0.00	43
S&P Global, Inc.	SPGI	Financial Services	Looks overvalued Current dividend yield is -100% below its 5-year average	32.30	15.48	16.42	11.91	46
PepsiCo Inc.	PEP	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	29.65	5.78	7.48	7.69	46
Cintas Corporation	CTAS	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	37.41	18.37	20.65	20.20	36
McCormick & Co.	MKC	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	34.37	9.28	9.57	9.23	33
Genuine Parts	GPC	Consumer Cyclical	Looks overvalued Current dividend yield is -100% below its 5-year average	20.71	4.22	4.37	6.12	63
The Clorox Company	CLX	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	67.83	6.87	7.65	7.04	41
Coca-Cola Company (The)	KO	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	26.71	2.50	3.71	5.98	57
Amcor plc	AMCR	Consumer Cyclical	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	2.33	2.73	0.00	25
Sysco Corp.	SYY	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	53.45	8.51	24.30	5.87	51
Atmos Energy Corporation	ATO	Utilities	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	8.87	8.36	6.47	25
Essex Property Trust, Inc	ESS	Real Estate	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	3.96	5.49	7.23	25
Dover Corp.	DOV	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	20.58	1.55	2.96	7.35	64
Albemarle Corporation	ALB	Basic Materials	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	5.20	5.04	8.82	25
Leggett & Platt	LEG	Consumer Cyclical	Looks overvalued Current dividend yield is -100% below its 5-year average	12.58	3.44	4.38	4.20	49
Federal Realty Investment Trust	FRT	Real Estate	Looks overvalued Current dividend yield is -100% below its 5-year average	36.01	1.78	2.10	4.59	52
Expeditors International of Washington, Inc	EXPD	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	8.83	7.71	8.78	25
Wal-Mart Stores	WMT	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	29.86	1.89	1.92	4.19	46
Stanley Black & Decker	SWK	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	14.88	4.92	5.69	6.15	52
Kimberly-Clark	KMB	Consumer Defensive	Looks overvalued Current dividend yield is -100% below its 5-year average	22.59	4.46	4.38	5.44	47
PPG Industries	PPG	Basic Materials	Looks overvalued Current dividend yield is -100% below its 5-year average	21.79	6.71	7.70	7.18	50
Consolidated Edison	ED	Utilities	Looks overvalued Current dividend yield is -100% below its 5-year average	23.04	2.72	2.95	2.59	45
Cincinnati Financial	CINF	Financial Services	Looks overvalued Current dividend yield is -100% below its 5-year average	7.07	6.89	6.16	4.89	59
Exxon Mobil Corp.	XOM	Energy	Looks overvalued Current dividend yield is -100% below its 5-year average	14.60	2.61	3.21	6.55	36
Chevron Corp.	CVX	Energy	Looks overvalued Current dividend yield is -100% below its 5-year average	19.87	5.83	4.36	5.56	34
Nucor Corp.	NUE	Basic Materials	Looks overvalued Current dividend yield is -100% below its 5-year average	5.88	3.65	2.67	1.66	46
NextEra Energy, Inc	NEE	Utilities	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	11.53	12.10	10.84	25
West Pharmaceutical Services, Inc	WST	Healthcare	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	6.58	7.09	7.18	25
Realty Income Corp.	O	Real Estate	Looks overvalued Current dividend yield is -100% below its 5-year average	77.14	2.44	3.38	5.02	25
A.O. Smith	AOS	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	22.53	11.73	17.17	21.60	25
Caterpillar Inc.	CAT	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	18.67	9.28	2.14	9.05	25
Chubb Limited	CB	Financial Services	Looks overvalued Current dividend yield is -100% below its 5-year average	10.98	3.12	3.02	2.07	26
Roper Technologies	ROP	Industrials	Looks overvalued Current dividend yield is -100% below its 5-year average	43.28	10.89	13.40	17.73	26
People's United Financial	PBCT	Financial Services	Looks overvalued Current dividend yield is -100% below its 5-year average	15.17	1.41	1.43	1.49	26
International Business Machines Corporation	IBM	Technology	Looks overvalued Current dividend yield is -100% below its 5-year average	0.00	1.79	3.56	8.49	25

Categories: Members, membershipMay 20, 2018

The 2022 Dividend Aristocrats

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The 2022 Dividend Aristocrats

About the S&P 500 Dividend Aristocrats Index

The Dividend Aristocrats are a select group of currently 65 S&P 500 stocks with 25+ years of consecutive dividend increases. These 65 are large, US companies that have historically provided (slightly) better performance and (slightly) lower volatility than the S&P 500 as a whole. They are the ‘upper class’ dividend growth stocks and a great source for dividend growth investors.

Dividend Aristocrats Members and Criteria

S&P 500 applies the following criteria to construct the Dividend Aristocrats list:

must be members of the S&P 500
must have increased dividends every year for at least 25 consecutive years
Market Cap at least USD 3 billion
Liquidity at least USD 5 million (average daily value traded)
Diversification, at least 40 constituents and no sector allocation above 30%

The full list of all the members and a downloadable excel can be found on the Dividend Aristocrats List page.

Dividend Aristocrats that meet those criteria are added over time and a dividend cut will result in removal from the dividend aristocrats list. See how the list has changed since 2009.

Dividend Aristocrats Dashboard

Another source is our dividend aristocrats dashboard, which provides key data for free such as:

Dividend Aristocrats Leaders (Year to Date)
Dividend Aristocrats Laggards (Year to Date)
Dividend Aristocrats with highest Dividend Yield
Dividend Aristocrats with lowest Dividend Yield
Undervalued Dividend Aristocrats
Overvalued Dividend Aristocrats
Dividend Aristocrats by Dividend Growth Rate

Performance: higher total returns with lower volatility

Higher total returns with lower volatility are typical characteristics of the Dividend Aristocrats. The Dividend Aristocrats have historically shown smaller draw-downs during recessions versus the S&P 500. For example in 2008 the Dividend Aristocrats Index declined 21.9%, compared to the S&P 500 declined by 37%. In 2018 the Dividend Aristocrats (-2.73%) also outperformed the S&P500 (-4.38%) by 1.65%.

In 2020, the Dividend Aristocrats (+8.68%) underperformed the S&P 500 index (+18.40%) by -9.72%, which is a lot.

The lower volatility gives some investors “peace of mind” but comes also with a price. In a bull market, like 2019, the Dividend Aristocrats typically underperform. In 2019, the Dividend Aristocrats ( 27.97%) underperformed the S&P 500 index ( 31.49%) by 3.52%

The table below lists the yearly performance of the Dividend Aristocrats, the S&P 500, and the difference between the two.

Some additional data on the Dividend Aristocrats Index:

10 Years annualized return: 14.75%
10 years annualized risk: 11.18%
PE-ratio (trailing): 20.97
Dividend yield: 2.43%

One good explanation for the current underperformance is the sector weighting of the Dividend Aristocrats. The dominating sectors are more defensive like Industrials (23.1%) and Consumer Staples (22.6%). The IT-sector represents only 1.7%.

Read also more about the yearly performance of the dividend aristocrats.

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