10 Magnificent Dividend Growth Stocks to Invest In

2. Nordson Corporation (NASDAQ:NDSN)

5-Year Average Dividend Growth Rate: 14.87%

Nordson Corporation (NASDAQ:NDSN) is an Ohio-based multinational company that designs and produces dispensing equipment used for applying adhesives, sealants, coatings, and other materials. The company reported mixed earnings in fiscal Q1 2025. Its revenue for the quarter came in at $615.4 million, which fell by 2.8% from the same period last year. The company’s sales reflected an 8% boost from acquisitions, which was offset by a 9% decline in organic sales and a 2% negative impact from currency translation. Net income for the quarter came in at $95 million, translating to earnings of $1.65 per diluted share. This marked a decrease from the previous year’s first-quarter net income of $110 million, or $1.90 per diluted share.

Although Nordson Corporation (NASDAQ:NDSN) reported lower earnings, it experienced a broad increase in order entry during the quarter, with backlog expanding by approximately $85 million. Given current trends and order visibility, the company anticipates second-quarter fiscal 2025 sales to range between $650 million and $690 million. Adjusted earnings per diluted share for the quarter are expected to fall between $2.30 and $2.50.

Nordson Corporation (NASDAQ:NDSN) ended the quarter with $130.4 million in cash and cash equivalents, up from $116 million in the same period last year. In addition, the company generated $160 million in operating cash flow during the quarter and its free cash flow came in at $137.7 million. Due to this strong cash generation, the company was able to increase its payouts for 61 years in a row. It currently offers a per share dividend of $0.78 every quarter and has a dividend yield of 1.45%, as of March 9.