5 Dividend Kings To Buy For Safe Dividend Growth

1. Lowe’s Companies, Inc. (NYSE:LOW)

5-Year Average Annual Dividend Growth Rate: 20.1%
Dividend Yield as of March 8: 2.08%

Lowe’s Companies, Inc. (NYSE:LOW) tops our list of dividend kings to buy for safe dividend growth. The home improvement company offers a quarterly dividend of $1.05 per share. It has raised its dividends consistently for the past 59 years, with a 5-year average annual dividend growth rate of 20.1%. The company’s shares have a yield of 2.08%, as of March 8.

Lowe’s Companies, Inc. (NYSE:LOW) was a popular buy among hedge funds in Q4 2022, as 68 funds tracked by Insider Monkey owned stakes in the company, up from 61 in the previous quarter. These stakes are valued at nearly $5.7 billion.

Pershing Square Holdings mentioned Lowe’s Companies, Inc. (NYSE:LOW) in its Q2 2022 investor letter. Here is what the firm has to say:

“Lowe’s Companies, Inc. (NYSE:LOW)’s is a high-quality business with significant long-term earnings growth potential underpinned by a superb management team that is successfully executing a multi-faceted business transformation. (Click here to read the full text)

You can also take a look at 30 Biggest SaaS Companies in the World in 2023 and 13 Best Annual Dividend Stocks to Buy Now

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