5 Dividend Kings To Invest In For Safe Dividend Growth

In this article, we discuss 5 dividend kings to invest in for safe dividend growth. If you want to see our detailed analysis of dividend growth stocks and their performance over the years, go directly to read 13 Dividend Kings To Invest In For Safe Dividend Growth. 

5. Abbott Laboratories (NYSE:ABT)

5-Year Average Annual Dividend Growth Rate: 12.39%

Abbott Laboratories (NYSE:ABT) is an American diversified healthcare company. It currently offers a quarterly dividend of $0.55 per share, growing it by 7.8% in December 2023. Through this increase, the company stretched its dividend growth streak to 52 years. The stock has a dividend yield of 1.83%, as of March 11. With a 5-year average annual dividend growth rate of 12.39%, ABT is one of the best dividend kings on our list.

At the end of December 2023, 64 hedge funds reported having stakes in Abbott Laboratories (NYSE:ABT), compared with 69 in the preceding quarter, according to our database. These stakes have a total value of roughly $2.5 billion.

4. S&P Global Inc. (NYSE:SPGI)

5-Year Average Annual Dividend Growth Rate: 12.54%

S&P Global Inc. (NYSE:SPGI) is a New York-based capital market company that provides financial information, analytics, and data services to businesses, governments, and investors worldwide. The company holds a 51-year track record of consistent dividend growth and offers a quarterly dividend of $0.91 per share. As of March 11, the stock has a dividend yield of 0.85% and its annual average dividend growth rate over the past five years comes in at 12.54%.

According to Insider Monkey’s database of Q4 2023, 82 hedge funds owned stakes in S&P Global Inc. (NYSE:SPGI), up from 78 in the previous quarter. These stakes are worth over $8.88 billion in total. TCI Fund Management owned a nearly $4 billion SPGI stake, becoming the company’s leading stakeholder in Q4.

3. Parker-Hannifin Corporation (NYSE:PH)

5-Year Average Annual Dividend Growth Rate: 14.26%

Parker-Hannifin Corporation (NYSE:PH) is next on our list of the best dividend kings to invest in for dividend growth. the industrial company has raised its dividends for 66 years in a row and currently offers a quarterly dividend of $1.48 per share. The stock offers a dividend yield of 1.10%, as of March 11. The company has grown its payouts at an annual average rate of 14.26% over the past five years.

Parker-Hannifin Corporation (NYSE:PH) ended the fourth quarter of 2023 with 63 hedge fund investors, growing significantly from 52 in the previous quarter, as per Insider Monkey’s database. The stakes held by these hedge funds have a total value of more than $1.64 billion.

2. Nordson Corporation (NASDAQ:NDSN)

5-Year Average Annual Dividend Growth Rate: 14.78%

Nordson Corporation (NASDAQ:NDSN) is an Ohio-based adhesive manufacturing company that specializes in precision dispensing, fluid management, and adhesive application solutions. Over the past five years, the company has raised its dividend at an annual average rate of 14.78%, while maintaining a 60-year streak of consistent dividend growth. With a dividend yield of 1.03% as of March 11, NDSN is one of the best dividend kings on our list.

As of the end of Q4 2023, 19 hedge funds in Insider Monkey’s database reported having stakes in Nordson Corporation (NASDAQ:NDSN), compared with 21 in the previous quarter. These stakes have a collective value of over $107.5 million. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q4.

1. Lowe’s Companies, Inc. (NYSE:LOW)

5-Year Average Annual Dividend Growth Rate: 18.65%

Lowe’s Companies, Inc. (NYSE:LOW) tops our list of the best dividend kings. The home improvement retailer company has raised its dividend at an annual average rate of 18.65% over the past five years and holds a 59-year track record of dividend growth. The stock’s dividend yield on March 11 came in at 1.83%.

The number of hedge funds tracked by Insider Monkey owning stakes in Lowe’s Companies, Inc. (NYSE:LOW) grew to 68 in Q4 2023, from 63 in the previous quarter. The consolidated value of these stakes is over $3.7 billion.

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