13 Best Dividend Growth Stocks With 10%+ Yearly Increases

4. Nordson Corporation (NASDAQ:NDSN)

5-Year Average Annual Dividend Growth Rate: 14.87%

Nordson Corporation (NASDAQ:NDSN) ranks fourth on our list of the best dividend stocks. The multinational company designs and produces dispensing equipment used for applying adhesives, sealants, coatings, and other materials. In the fourth quarter of 2024, the company reported revenue of $744.4 million, up 3.5% from the same period last year. The sales grew due to a 6% boost from acquisitions and a 1% positive impact from currency translation, though this was partially offset by a 3% decrease in organic sales. Net income for the quarter was $122 million, translating to earnings of $2.12 per diluted share.

Nordson Corporation (NASDAQ:NDSN) is actively growing its business through strategic acquisitions. For example, its acquisition of ARAG in August 2023 enabled entry into the expanding precision agriculture market. In addition, in May 2024, the company acquired Atrion Corporation for around $800 million, expanding its medical portfolio into new markets and therapies. This acquisition aligns with the company’s existing customer base and is expected to positively influence future performance. With these growth strategies, Nordson is well-positioned to increase its earnings, free cash flow, and dividends moving forward.

Nordson Corporation (NASDAQ:NDSN)’s solid balance sheet makes it a reliable investment among income investors. In FY24, the company generated over $556 million in operating cash flow and its free cash flow came in at $492 million. Due to this cash generation, the company holds one of the longest dividend growth streaks in the market, spanning over 61 years. It currently offers a quarterly dividend of $0.78 per share and has a dividend yield of 1.46%, as recorded on February 8.