In this article, we will take a look at some of the best Dividend Champions to buy.
Companies known as Dividend Aristocrats belong to the S&P Index and have raised their dividend payments every year for a minimum of 25 years. On the other hand, Dividend Champions have also maintained at least 25 straight years of dividend growth, though they may not be part of the broader market.
It is possible to pursue a strategy that offers both income and growth. Companies that regularly increase their dividends—often referred to as dividend growers—are typically financially sound, well-managed, and of high quality. Over the long term, these businesses not only show lower levels of volatility but also tend to deliver better performance than the broader market, such as the S&P Equal Weight Index. According to a report by Guggenheim, companies that grew and initiated their dividends between May 2005 and December 2024 delivered an annual average return of 10.5%, compared with a 5.5% return of those companies that cut or eliminated their payouts during this period. The broader market produced a 10.4% return on an annual average basis, slightly underperforming the dividend growers.
The report also mentioned that dividend growth strategies have generally shown strong performance in both rising and falling markets. For investors, this offers a chance to benefit from long-term market gains while also helping to preserve more value during inevitable market downturns.
Dividend-paying stocks provided investors with a degree of stability during the volatile month of March, according to Bank of America, which highlighted several standout names during the market’s rough patch. The firm noted that value and dividend-focused stocks performed well that month, as concerns over President Donald Trump’s tariff policies unsettled the broader market. The firm’s quant strategist, Nigel Tupper, said the following in an April 11 report.
“In March, as global equities fell -4.1% on concerns tariffs could increase and slow growth, the best performing global styles were Value and Dividends,”
With investor demand for dividend stocks on the rise, many companies have been steadily increasing their payouts. A report from Janus Henderson revealed that global dividend payments reached an all-time high of $1.75 trillion in 2024, reflecting a 6.6% increase on an underlying basis. The overall headline growth was 5.2%, influenced by fewer one-off special dividends and a stronger US dollar. Out of 49 countries in the index, 17— including major contributors like the US, Canada, France, Japan, and China—set new records for dividend payments. Overall, 88% of companies worldwide either raised their dividends or maintained them throughout the year. Looking ahead, Janus Henderson forecasts that global dividends will rise by 5.0% on a headline basis in the coming year, reaching a new record of $1.83 trillion. Although the stronger US dollar is expected to weigh on headline growth, the underlying growth rate is projected to come in slightly higher, around 5.1%.
Although many companies in the Dividend Aristocrats Index are widely recognized, there are a few Dividend Champions that remain relatively unnoticed due to their lower profile. Given this, we will take a look at some of the best under-the-radar dividend aristocrat stocks.
Photo by Sharon McCutcheon on Unsplash
Our Methodology:
For this article, we scanned a list of Dividend Champions, which are companies that have raised their payouts for 25 consecutive years or more. From that list, we picked some lesser-known companies with sound financials and strong balance sheets and ranked them according to hedge funds having stakes in them, as per Insider Monkey’s database of Q4 2024.
At Insider Monkey, we are obsessed with hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
15. Tompkins Financial Corporation (NYSE:TMP)
Number of Hedge Fund Holders: 9
Tompkins Financial Corporation (NYSE:TMP) is an Ithaca-based diversified financial services company that provides a wide range of services in community banking, insurance, and wealth management. The stock has generated strong returns in the past year, surging by over 31%.
In the fourth quarter of 2024, Tompkins Financial Corporation (NYSE:TMP) reported revenue of $77.1 million, which showed an 8.3% growth from the same period last year. The revenue also surpassed analysts’ estimates by $2.36 million. The company attributed its improved performance to higher revenue and a reduction in operating expenses. Revenue growth was broad-based, supported by strong gains in loans, deposits, and fee-based business activities. In the fourth quarter, the firm reported annualized loan growth of 9.4%, a 14-basis-point increase in net interest margin, and stronger profitability indicators to close out the year.
Tompkins Financial Corporation (NYSE:TMP) also reported a strong cash position. The company ended the quarter with $134.4 million available in cash and cash equivalents, up from $79.5 million in the prior year period. It currently offers a quarterly dividend of $0.62 per share and has a dividend yield of 4.33%, as of April 17. In 2024, the company achieved its 38th consecutive annual dividend hike, which makes TMP one of the best Dividend Champions on our list.
14. Brady Corporation (NYSE:BRC)
Number of Hedge Fund Holders: 15
Brady Corporation (NYSE:BRC) is an American company that specializes in the development and manufacturing of specialty products and technical equipment. The company’s long-term growth strategy is shaped by its commitment to innovation and operational efficiency. It has made substantial investments in research and development to strengthen its product portfolio and adapt to changing customer needs. The company’s success largely depends on creating proprietary solutions, providing outstanding customer support, and advancing its digital capabilities. The stock has surged by over 15% in the past 12 months.
In fiscal Q2 2025, Brady Corporation (NYSE:BRC) posted a revenue of $356.6 million, up 10.55% from the same period last year. However, the revenue missed analysts’ estimates by $2.53 million. The company’s growth was largely driven by acquisitions, which contributed 10.2%, while organic sales (excluding the impact of acquisitions) rose by 2.6%, reflecting stable and sustainable progress. A notable milestone for Brady was the introduction of new products such as the i7500 high-speed printer, underscoring its focus on innovation. Despite this, income before taxes fell by 6.8%, pointing to pressure on profit margins. On an adjusted basis, however, income before taxes increased by 7.2%, indicating gains in operational efficiency and stronger cash management.
Brady Corporation (NYSE:BRC)’s cash position also remained stable. The company ended the quarter with over $138.4 million available in cash and cash equivalents and generated an operating cash flow of $39.6 million, up from $36.1 million in the prior-year period. This strong balance sheet enabled the company to raise its payouts for 39 consecutive years, which makes BRC one of the best Dividend Champions to monitor. Currently, it offers a quarterly dividend of $0.24 per share and has a dividend yield of 1.42%, as of April 17.
13. MGE Energy, Inc. (NASDAQ:MGEE)
Number of Hedge Fund Holders: 15
MGE Energy, Inc. (NASDAQ:MGEE) is an American utility holding company that produces and distributes electricity and natural gas. The company’s earnings for the fourth quarter of 2024 came in at $22 million, up from $20 million in the same period last year. It has continued to expand its asset base by investing in new, cost-efficient renewable energy projects. The rise in electric earnings for 2024 was partly driven by increased electric investments added to the rate base. One key development was the completion of the Paris solar project in December 2024.
Meanwhile, gas retail therm deliveries declined by about 4% compared to the previous year, largely due to warmer-than-usual weather throughout 2024. Gas consumption among commercial and industrial users also fell by roughly 4%, with residential usage seeing a similar decrease. MGE Energy, Inc. (NASDAQ:MGEE)’s revenues for the quarter came in at $171.4 million, which showed growth from $164.6 million.
On January 17, MGE Energy, Inc. (NASDAQ:MGEE) declared a quarterly dividend of $0.45 per share, which was in line with its previous dividend. Overall, the company is close to becoming a Dividend King, having raised its payouts for 49 years in a row. The stock has a dividend yield of 1.97%, as of April 17.
12. Stepan Company (NYSE:SCL)
Number of Hedge Fund Holders: 17
Stepan Company (NYSE:SCL) is an Illinois-based company that deals in specialty and intermediate chemicals. The company delivered strong earnings results for fiscal year 2024. Adjusted EBITDA increased by 4% year-over-year, even with the impact of several one-time charges and pre-operating expenses related to its new Pasadena facility. The Surfactants and Specialty Products segments recorded solid double-digit gains in Adjusted EBITDA, though these were partly offset by weaker demand in the Polymers segment.
Overall, global sales volume rose by 1%, driven by a 2.5% increase in the Surfactant business, with notable growth momentum seen across several of the company’s key strategic markets.
Stepan Company (NYSE:SCL) also maintains a solid financial position, supported by strong cash generation. In the fourth quarter, Stepan reported $68.3 million in operating cash flow and $32.1 million in free cash flow. This robust cash flow has allowed the company to raise its dividend for 57 consecutive years, placing it among the best Dividend Champions to invest in. Its quarterly dividend comes in at $0.385 per share for a dividend yield of 3.25%, as of April 17.
11. SJW Group (NASDAQ:SJW)
Number of Hedge Fund Holders: 17
SJW Group (NASDAQ:SJW) ranks eleventh on our list of the best Dividend Champions to invest in. The California-based utility company provides water utility services through its subsidiaries. The company is actively growing its business through strategic acquisitions. A major step came in 2019 with its $1.1 billion merger with Connecticut Water Service, which greatly expanded both its service area and customer base. With continued investment in infrastructure improvements and plans for further expansion, the company is well-placed to sustain its growth moving forward. Since the start of 2025, the stock has surged by over 12%, outperforming the market by a wide margin.
In the fourth quarter of 2024, SJW Group (NASDAQ:SJW) reported revenue of $197.8 million, which showed a 15.4% growth from the same period last year. The revenue also beat analysts’ estimates by over $10.3 million. The rise was mainly due to $22.8 million in rate hikes and $9.9 million from increased customer usage, partially offset by a $7.1 million decline in revenue tied to regulatory mechanisms.
SJW Group (NASDAQ:SJW) is a strong dividend payer with a solid balance sheet. At the end of 2024, the company had over $11 million available in cash and cash equivalents, compared with $9.7 million in 2023. It has been making regular dividend payments for the past 80 years, while maintaining a 57-year streak of consistent dividend growth. The company offers a quarterly dividend of $0.42 per share and has a dividend yield of 3.07%, as of April 17.
10. The Gorman-Rupp Company (NYSE:GRC)
Number of Hedge Fund Holders: 20
The Gorman-Rupp Company (NYSE:GRC) is an Ohio-based manufacturer of pumps and pumping systems. The company specializes in designing, manufacturing, and selling a wide range of pumps and related products for various industries and applications.
The Gorman-Rupp Company (NYSE:GRC) reported strong earnings in the fourth quarter of 2024, with revenues amounting to $162.7 million, up 1.3% from the same period last year. The revenue, however, missed analysts’ consensus by approximately $137,500. Net income for the fourth quarter reached $11.0 million, or $0.42 per share, up from $9.0 million, or $0.34 per share, in the same period of 2023. Incoming orders also saw a strong boost, rising 15.8% compared to the fourth quarter of the previous year.
The Gorman-Rupp Company (NYSE:GRC) ended 2024 with $24.2 million available in cash and cash equivalents. The company’s operating cash flow for the year came in at $69.8 million. It currently offers a quarterly dividend of $0.185 per share, having raised it by 2.8% in October 2025. This marked the company’s 52nd consecutive year of dividend growth, which places GRC on our Dividend Champions list. The stock offers a dividend yield of 2.2%, as of April 17.
At the end of Q4 2024, 20 hedge funds tracked by Insider Monkey held stakes in The Gorman-Rupp Company (NYSE:GRC), up from 19 in the previous quarter. The collective value of these stakes is nearly $47 million. Among these hedge funds, GAMCO Investors was the company’s leading stakeholder in Q4.
9. Lancaster Colony Corporation (NASDAQ:LANC)
Number of Hedge Fund Holders: 22
Lancaster Colony Corporation (NASDAQ:LANC) is an American company that specializes in the manufacture and sale of specialty food products. The Ohio-based company has driven its growth by prioritizing innovation and technology. The company has successfully expanded its footprint in the frozen foods and condiments market, keeping pace with evolving consumer preferences for healthier and more sustainable options. Over the past three years, it has invested more than $250 million in automation and advanced manufacturing, leading to greater efficiency and cost savings. These strategic moves have not only strengthened its competitive edge and profitability but also laid the groundwork for sustained progress in a challenging market.
In the second quarter of fiscal 2025, Lancaster Colony Corporation (NASDAQ:LANC) posted revenue of $509.3 million, reflecting a 4.8% year-over-year increase. Retail net sales grew by 6.3% to $280.8 million, while Foodservice net sales rose by 3.0% to $228.5 million. Consolidated gross profit improved by $11.3 million, up 9.3%, reaching a record $132.8 million for the second quarter.
As of the end of December 2024, Lancaster Colony Corporation (NASDAQ:LANC)’s cash and cash equivalents stood at over $203 million, up from $163.4 million six months earlier. The company also continued its strong dividend track record, paying a quarterly dividend of $0.95 per share following a 5.6% increase in November 2024, marking its 62nd straight year of dividend growth, which makes it one of the best Dividend Champions to monitor. The stock supports a dividend yield of 2.02%, as of April 17.
8. National Fuel Gas Company (NYSE:NFG)
Number of Hedge Fund Holders: 29
National Fuel Gas Company (NYSE:NFG) is an American diversified energy company that is engaged in the exploration and development of natural gas and oil reserves. The company generates about half of its earnings from its exploration and production operations, while the rest comes from its gathering, storage, and utility businesses. The company has been steadily ramping up production and expects low-to-mid single-digit output growth over the next three years. Its stock has performed well, climbing by nearly 29% since the beginning of 2025.
In the first quarter of fiscal 2025, National Fuel Gas Company (NYSE:NFG) reported revenue of $549.4 million, marking a 4.59% increase compared to the same period a year ago. Net income in the Pipeline & Storage segment rose by $8.4 million (35%) year-over-year, primarily due to the Supply Corporation rate case settlement, which led to higher rates starting February 1, 2024. The Utility segment also delivered solid results, with net income up $5.9 million (22%) thanks to a three-year rate settlement in its New York service area.
With natural gas prices on the rise and improving performance across all segments, National Fuel Gas Company (NYSE:NFG) has raised its fiscal 2025 adjusted EPS forecast to a range of $6.50 to $7.00. NFG also maintained a strong financial position, generating over $220 million in operating cash flow during the quarter. The company boasts a 54-year streak of dividend growth and has paid uninterrupted dividends for 121 years. Its quarterly dividend comes in at $0.515 per share for a dividend yield of 2.59%, as of April 17.
7. Sonoco Products Company (NYSE:SON)
Number of Hedge Fund Holders: 33
Sonoco Products Company (NYSE:SON) ranks seventh on our Dividend Champions list. The company specializes in the manufacture of industrial and consumer packaging products and services. In 2024, the company strengthened its global position in sustainable metal packaging with the acquisition of Eviosys, a leading European manufacturer of food cans, ends, and closures, completed on December 4, 2024. In addition, it reached an agreement to sell TFP to TOPPAN Holdings, Inc. for approximately $1.8 billion, marking another significant strategic move during the year.
In the fourth quarter of 2024, Sonoco Products Company (NYSE:SON) reported revenue of $1.36 billion, down 16.6% from the same period last year. However, its adjusted EBITDA came in at $247 million, showing a 4.6% growth on a YoY basis. In 2024, the company allocated a record $378 million toward growth initiatives and productivity-enhancing projects. Looking ahead, it expects to achieve around 20% growth in adjusted net income attributable to Sonoco in 2025.
Though Sonoco Products Company (NYSE:SON)’s revenue did not meet investors’ and analysts’ expectations, the company’s cash position remained encouraging. In FY24, the company’s operating cash flow and free cash flow came in at $834 million and $456 million, respectively. It also returned $203 million to shareholders through dividends in 2024, up from $197 million in 2023.
On April 16, Sonoco Products Company (NYSE:SON) declared a 1.9% increase in its quarterly dividend to $0.53 per share. This marked the company’s 42nd consecutive year of dividend growth. Moreover, it was the 400th consecutive quarter of dividend payments. In addition to dividend growth, the stock also offers an attractive dividend yield of 4.81%, as of April 17.
6. Badger Meter, Inc. (NYSE:BMI)
Number of Hedge Fund Holders: 34
Badger Meter, Inc. (NYSE:BMI) is a Wisconsin-based company that provides water metering technology and flow solutions to its customers. As a North American leader in smart water solutions, the company stands out as an attractive investment opportunity, backed by its cutting-edge technologies and solid presence across the utility, commercial, and industrial sectors. Established in 1905, it has grown from manufacturing frost-proof water meters to providing a comprehensive range of advanced meters, valves, sensors, and software tools focused on monitoring and data analytics. In the past 12 months, the stock has delivered an over 31% return to shareholders.
Badger Meter, Inc. (NYSE:BMI) reported exceptional earnings in the first quarter of 2025. The company reported revenue of $222.2 million, up 13% from the same period last year. Operating earnings rose by 35% year-over-year, reaching $49.5 million, while operating profit margins improved by 360 basis points, climbing to 22.2% from 18.6%. Diluted earnings per share also saw strong growth, increasing 31% to $1.30 compared to $0.99 in the same quarter last year. In addition, the company finalized its acquisition of SmartCover on January 30, 2025.
Badger Meter, Inc. (NYSE:BMI) ended the quarter with $131.3 million available in cash and cash equivalents. Its operating cash flow came in at $33.02 million, growing from $21.4 million in the prior-year period. Due to this cash position, the company was able to raise its payouts for 32 consecutive years, which makes BMI one of the best Dividend Champions to invest in. It offers a quarterly dividend of $0.34 per share and has a dividend yield of 0.68%, as of April 17.
5. Tennant Company (NYSE:TNC)
Number of Hedge Fund Holders: 34
Tennant Company (NYSE:TNC) is a Minnesota-based company that holds a leading position worldwide in producing mechanized cleaning equipment, including scrubbers, sweepers, pressure washers, vacuums, and autonomous mobile robots. The company’s current investment appeal largely depends on the success of its latest innovation push—autonomous mobile robots (AMRs). These robots significantly enhance labor efficiency for customers and have the potential to drive the company’s stock higher. From 2018 to 2023, Tennant sold approximately 6,500 units of its earlier AMR models.
In the fourth quarter of 2024, Tennant Company (NYSE:TNC) reported revenue of $328.9 million, which showed a 5.6% growth from the same period last year. The revenue also beat analysts’ estimates by $5.63 million. The company reported full-year adjusted EBITDA of $208.8 million, reflecting an 8.2% increase from 2023. Its adjusted EBITDA margin for the year rose to 16.2%, up 70 basis points, supported by robust sales growth that led to greater operating leverage compared to the previous year.
Tennant Company (NYSE:TNC)’s cash position also came in strong as the company generated $89.7 million in operating cash flow in FY24. The company also remained committed to its shareholder return, distributing $41 million to investors through a combination of dividends and share repurchases. It currently offers a quarterly dividend of $0.295 per share and has a dividend yield of 1.68%, as of April 17. The company has been rewarding shareholders with growing dividends for the past 53 consecutive years, which makes TNC one of the best Dividend Champions on our list.
4. West Pharmaceutical Services, Inc. (NYSE:WST)
Number of Hedge Fund Holders: 35
West Pharmaceutical Services, Inc. (NYSE:WST) develops and sells products used in pharmaceuticals, biologics, vaccines, and consumer healthcare. In its latest earnings report, the company noted that its core operations continue to thrive, supported by its strong market positions and proprietary processes. Looking ahead to 2025, management expressed confidence in continued momentum within key segments of the Proprietary Products business, citing positive trends in High-Value Products (HVP) across Biologics and Generics, along with growth stemming from Annex 1 and GLP-1 developments.
In the fourth quarter of 2024, West Pharmaceutical Services, Inc. (NYSE:WST) reported revenue of $748.8 million, which showed a 2.3% growth from the same period last year. The revenue surpassed analysts’ estimates by nearly $8 million. Organic net sales rose by 4.5%, with High-Value Products (HVP) accounting for around 74% of the segment’s total sales during the period. This was largely driven by strong demand for self-injection device platforms. Additionally, fourth-quarter revenue received a roughly $25 million boost from customer incentives tied to volume targets met for HVP delivery devices.
West Pharmaceutical Services, Inc. (NYSE:WST)’s cash flow for the year came in at $653.4 million, and its free cash flow amounted to $276.4 million. The company’s quarterly dividend currently sits at $0.21 per share and has a dividend yield of 0.41%, as of April 17. Its dividend growth spans 32 years.
3. FactSet Research Systems Inc. (NYSE:FDS)
Number of Hedge Fund Holders: 36
FactSet Research Systems Inc. (NYSE:FDS) is a Connecticut-based financial data and software company that provides integrated data and software. The company delivers extensive financial data and analytics services, mainly through a subscription model. The company is now prioritizing technological innovation and expanding its global presence. Recent efforts include the rollout of its Intelligent Platform and AI-powered tools like IRN 2.0 and DaaS. These developments are designed to integrate artificial intelligence more deeply into clients’ workflows, improving service quality across various markets.
In fiscal Q2 2025, FactSet Research Systems Inc. (NYSE:FDS) posted revenue of $570.6 million, which saw a 4.5% growth from the same period last year. The growth in both GAAP and organic revenues was primarily supported by strong demand from wealth management and institutional buy-side clients. The company’s organic Annual Subscription Value (ASV) reached $2.2 billion, reflecting a 4.1% increase compared to the same period last year. GAAP diluted earnings per share (EPS) rose by 3.0% year over year to $3.76, while adjusted diluted EPS edged up 1.4% to $4.28.
FactSet Research Systems Inc. (NYSE:FDS) currently offers a quarterly dividend of $1.04 per share and has a dividend yield of 0.97%, as of April 17. The company last raised its payout in 2024, which was its 25th consecutive year of dividend growth. This dividend growth streak was achieved by strong cash generation. In the most recent quarter, the company generated an operating cash flow of $174 million, and its free cash flow was $150.2 million.
2. Eversource Energy (NYSE:ES)
Number of Hedge Fund Holders: 39
Eversource Energy (NYSE:ES), based in Boston, provides essential electric services to its customers. The company plans to improve its balance sheet by divesting Aquarion, a transaction expected to be completed by late 2025, while continuing to focus on its core regulated electric and natural gas utility operations. Despite some anticipated challenges in 2025, Eversource sees significant growth opportunities, particularly in system investments. This is evident in a 10% increase in its five-year investment plan through 2029, aimed at strengthening regional infrastructure and advancing clean energy. These initiatives are expected to play a vital role in achieving the company’s long-term growth target of 5 to 7 percent.
For the fourth quarter of 2024, Eversource Energy (NYSE:ES) reported $2.97 billion in revenue, marking a 10.2% increase from the previous year. The transmission segment alone generated $724.6 million, up from $643.4 million in 2023. The company reported operating income of $347.8 million and interest expenses of $288.7 million for the quarter.
Eversource Energy has recently joined the Dividend Aristocrat Index, and in January, the company raised its quarterly dividend by 5.2%, bringing it to $0.7525 per share. This increase marked the company’s 25th consecutive year of dividend growth. It currently offers a quarterly dividend of $0.7525 per share and has a dividend yield of 5.24%, as of April 17.
1. Ecolab Inc. (NYSE:ECL)
Number of Hedge Fund Holders: 59
Ecolab Inc. (NYSE:ECL) is an American company that specializes in water treatment and cleaning solutions. Known for its commitment to sustainability and innovation, the company helps clients reduce their environmental impact while improving operational efficiency. Its product offerings cover areas such as water and energy management, infection control, and other solutions focused on boosting efficiency.
For the fourth quarter of 2024, Ecolab Inc. (NYSE:ECL) reported $4 billion in revenue, reflecting a nearly 2% year-over-year growth. Organic sales rose by 4%, driven by stronger growth in its Industrial and Healthcare & Life Sciences segments, as well as continued solid performance in Pest Elimination and Institutional & Specialty divisions. Regionally, the U.S. led with strong organic sales growth, while international markets also posted positive results, with new business gains helping to offset the impact of varying macroeconomic conditions. The company’s operating income margin stood at 14.6%.
In FY24, Ecolab Inc. (NYSE:ECL) showcased a robust cash position, with operating cash flow reaching $2.8 billion and free cash flow totaling $1.8 billion. This strong cash flow enabled the company to increase its dividends for 33 consecutive years, making it one of the top dividend stocks favored by billionaires. The company offers a quarterly dividend of $0.65 per share and has a dividend yield of 1.09%, as recorded on April 17.
Overall, Ecolab Inc. (NYSE:ECL) ranks first on our list of low profile Dividend Champions to invest in. While we acknowledge the potential of ECL as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than ECL but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the dirt cheap dividend stock.
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