14 Best Large Cap Dividend Growth Stocks To Buy Now

6. Nordson Corporation (NASDAQ:NDSN)

5-Year Average Annual Dividend Growth Rate: 14.87%

Nordson Corporation (NASDAQ:NDSN) is a multinational company that designs and produces dispensing equipment used for applying adhesives, sealants, coatings, and other materials. The company is expanding its business through strategic acquisitions. For instance, its purchase of ARAG in August 2023 allowed the company to enter the growing precision agriculture market. Furthermore, in May 2024, Nordson acquired Atrion Corporation for approximately $800 million, enhancing its medical portfolio and broadening its reach into new markets and therapies. This acquisition complements the company’s existing customer base and is expected to have a positive impact on its future performance. With these growth initiatives, Nordson is well-positioned to boost its earnings, free cash flow, and dividends in the future.

In the fourth quarter of 2024, Nordson Corporation (NASDAQ:NDSN) posted revenue of $744.4 million, reflecting a 3.5% increase compared to the same period last year. The growth was driven by a 6% boost from acquisitions and a 1% positive impact from currency translation, though this was partially offset by a 3% decline in organic sales. Net income for the quarter amounted to $122 million, or $2.12 per diluted share.

Nordson Corporation (NASDAQ:NDSN) currently pays a quarterly dividend of $0.78 per share and has a dividend yield of 1.46%, as of February 12. The company has a strong balance sheet, making it a dependable choice for income investors. In FY24, the company generated more than $556 million in operating cash flow, with free cash flow totaling $492 million. This robust cash flow has contributed to one of the longest dividend growth streaks in the market, with over 61 years of consecutive increases.