8 Best Dividend Kings To Invest In For Safe Dividend Growth

2. Nordson Corporation (NASDAQ:NDSN)

5-Year Average Annual Dividend Growth Rate: 14.55%

Nordson Corporation (NASDAQ:NDSN) ranks second on our list of the best dividend kings. The multinational company designs and produces dispensing equipment used for applying adhesives, sealants, coatings, and other materials. The company reported strong earnings in the third quarter of 2024, generating revenues of $661.6 million, up 2% from the same period last year. Its net income for the quarter came in at $117 million. The Advanced Technology Solutions segment experienced sequential growth compared to the second quarter, driven by steady improvements in order entry within electronics end markets. Throughout the organization, strong operational execution resulted in robust gross margins and an impressive 31% EBITDA margin.

Nordson Corporation (NASDAQ:NDSN)’s cash position came in strong in the most recent quarter. The company ended the quarter with over $165.3 million available in cash and cash equivalents, up from $115.6 million in the prior-year period. Its operating cash flow came in at $460 million.

Nordson Corporation (NASDAQ:NDSN) currently offers a quarterly dividend of $0.78 per share, having raised it by 14.7% in August this year. This marked the company’s 61st consecutive year of dividend growth. Moreover, in the past five years, it has raised its payouts at an annual average rate of 14.55%. The stock’s dividend yield on December 9 came in at 1.22%.

Nordson Corporation (NASDAQ:NDSN) was included in 18 hedge fund portfolios at the end of Q3 2024, compared with 21 in the previous quarter, as per Insider Monkey’s database. The stakes held by these funds have a collective value of over $68.3 million. Among these hedge funds, Schonfeld Strategic Advisors was the company’s leading stakeholder in Q3.