5 Companies Likely to be Dividend Aristocrats in the Future

2. United Parcel Service, Inc. (NYSE:UPS)

Consecutive Years of Dividend Growth: 21

United Parcel Service, Inc. (NYSE:UPS) is an American multinational shipping company. On May 3, the company declared a quarterly dividend of $1.62 per share, which was in line with its previous dividend. The stock has a dividend yield of 3.73%, as of June 21. The company maintains a 21-year streak of dividend growth.

In May, Deutsche Bank appreciated the management of United Parcel Service, Inc. (NYSE:UPS) and its efforts to prioritize profitable growth. In view of this, the firm raised its price target on the stock to $212 with a Buy rating on the shares.

At the end of Q1 2023, 39 hedge funds in Insider Monkey’s database held stakes in United Parcel Service, Inc. (NYSE:UPS), up from 36 in the previous quarter. The consolidated value of these stakes is over $476 million.

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