In this article, we discuss the 5 best dividend stocks with over 10 years of dividend increases. If you want our detailed analysis of these stocks, go directly to 10 Best Dividend Stocks With Over 10 Years of Dividend Increases.
5. Alexandria Real Estate Equities, Inc. (NYSE:ARE)
Alexandria Real Estate Equities, Inc. (NYSE:ARE) is a California-based REIT. As of November 5, the company has a dividend yield of about 3.24%. The company has increased its dividend for 11 straight years. Last month, the company posted strong third quarter results. Its adjusted FFO per share came in at $2.13 per share, compared to the consensus estimate of $2.11. The company’s third-quarter results were helped by an increase in leasing activity and a hike in rents. Rental rate increases in the period jumped about 27.1% in the third quarter. However, it was down from 45.4% seen in the second quarter. As of the end of the second quarter, 32 hedge funds tracked by Insider Monkey reported owning stakes in the company. The total value of these stakes was about $716 million.
Here is what Baron Health Care Fund has to say about Alexandria Real Estate Equities, Inc. (NYSE:ARE) in its Q2 2022 investor letter:
“Health care related company Alexandria Real Estate Equities, Inc. is responsible for about a quarter of the relative shortfall in the period. Life sciences REIT Alexandria was the third largest detractor despite reporting strong financial results as investors grew concerned that financial duress among certain biotechnology companies could ultimately lead to rent delinquencies and less demand for Alexandria’s real estate.”
4. Avista Corporation (NYSE:AVA)
Avista Corporation (NYSE:AVA) is an energy company that has grown its dividend for the last 20 years. Avista’s dividend yield is also healthy, coming in at 4.7% as of November 5. Recently, the company announced its dividend of $0.44 per share, in line with the previous dividend. The dividend is payable on December 15 for shareholders of record as of November 18. The dividend announcement came despite weak Q3 results. The company posted a surprise GAAP loss for the third quarter and also slashed its earnings estimates for 2022 and 2023. The company clearly said that the “pressures of inflation and rising interest rates” were the main causes of this weak performance.
3. AXIS Capital Holdings Limited (NYSE:AXS)
AXIS Capital Holdings Limited (NYSE:AXS) is a financial services company that offers property insurance products. 2021 marked the 18th consecutive year of AXIS Capital Holdings Limited (NYSE:AXS)’s dividend increases. Like other major players in the industry, Axis also took a beating in the third quarter due to the changing macroeconomic environment. AXIS Capital Holdings Limited (NYSE:AXS)’s adjusted EPS in the third quarter came in at $0.03, missing the Street estimates by $0.04. Net premiums in the period plummeted by 22.4% to reach $1.04 billion, missing the estimates by $40 million.
As of the end of the second quarter of this year, 16 hedge funds in the database of Insider Monkey reported having stakes in the period, compared to 23 funds in the previous quarter.
2. Cardinal Health, Inc. (NYSE:CAH)
American healthcare services giant Cardinal Health, Inc. (NYSE:CAH) is one of the very few stocks that managed to not only survive this year but also thrive beyond expectations despite the rising inflation and interest rates. The stock is up more than 50% year to date. The company has increased its dividends consistently for the last 30 years. The stock is currently in the limelight after the company posted strong fiscal first quarter 2023 results. After the results, Bank of America upgraded the stock to Neutral from Underperform. BofA’s team of analyst, led by Michael Cherny, said that it expects the company’s core pharma distribution market to benefit from multiple factors, including stable volumes and potential near-term upside from the flu season.
1. Caterpillar Inc. (NYSE:CAT)
Construction equipment giant Caterpillar Inc. (NYSE:CAT) is one of those stocks that offer consistent dividend payments as well as stock appreciation prospects. The company has upped its dividend payouts consistently for the last 28 years. Caterpillar’s dividend yield is about 2.1% as of November 5. The stock is up 10% year to date. Caterpillar Inc. (NYSE:CAT) recently said that its earnings in the third quarter reached a record, thanks to the increasing demand for its earth-moving equipment and strong pricing power.
As of the end of the second quarter, 45 hedge funds tracked by Insider Monkey reported having stakes in Caterpillar, compared to 54 in the previous quarter.
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