≡ Menu

Dividend Kings List – Companies with Annual Dividend Increases for Over 50 Years!

dividend kings

A reader has prompted me to update this post (originally posted in 2016).

Dividend growth investing may not be for everyone, but I am a fan.  I like the idea of receiving tax efficient payments from long-established companies with a track record of annually increasing their payments to shareholders.  

I’m also a believer in the merits of passive index investing.  I use the passive indexing approach for our family RESP, my wife’s RRSP, and the international portion of my own RRSP.  

I use the dividend strategy for my leveraged portfolio, a significant portion of my RRSP, and our corporate portfolio.  We currently collect a little over $50,000/year in dividends and if you are interested, you can follow my dividend updates here.

In the past, I’ve written a number of articles on dividend growth stocks, I’ve never properly categorized them.

  • A Dividend Achiever is a company that has increased its dividend at least 10 years in a row;
  • A Dividend Aristocrat is a company that has increased its dividend at least 25 years in a row; and,
  • A Dividend King is a company that has increased its dividend at least 50 years in a row.  The true cream of the crop.

Here in Canada, we have a relatively small market and an even smaller list of quality dividend stocks.  In a previous article about the top Canadian dividend growth stocks, you will see a number of dividend achievers, a handful of dividend aristocrats, but no dividend kings in Canada (although FTS and CU are getting close).

As of March 2019

CompanySymbolYears of Dividend Growth10 year avg Dividend Growth RatePayout RatioCurrent Yield
Canadian UtilitiesCU47 9%122.5%4.77%
Fortis Inc.FTS455.6%72.45%3.60%
Toromount Industries LtdTIH29 11.3%35.18%1.56%
Canadian Western BankCWB27 9.0%37.24%3.40%
Atco LtdACO.X25 12.4%90.69%3.58%
Thomson ReutersTRI25 2.5%575.79%2.65%
Empire Company LtdEMP.A24 6.6%36.47%1.44%
Imperial OilIMO24 6.7%26.40%2.14%
Metro IncMRU24 16%31.9%1.62%
Canadian National RailwayCNR23 14.7%36.62%1.89%
Enbridge IncENB23 15.1%204.77%5.42%
Saputo IncSAP19 12% 33.96%1.52%
Canadian Natural ResourcesCNQ18 21% 43.75%3.52%
SNC LavalinSNC16 14% 60.67%1.93%
TransCanada CorpTRP18 6.7% 80.31%5.05%
Canadian REITREF.UN15 3.5% 88.63%3.98%
CCL IndustriesCCL.B17 16.6% 25.92%1.25%
Finning InternationalFTT17 6.3% 58.14%3.21%
Transcontinental Inc.TCL.A17 10.3% 33.54%4.36%
Plaza Retail REITPLZ.UN16 4.8% 240.3%6.76%
Ritchie Bros AuctioneersRBA16 7.5% 52.73%1.96%
Suncor EnergySU16 21.8% 83.58%3.69%
Cogeco Communications Inc.CCA15 16.6% 29.81%2.48%
Telus CorporationT15 8.7% 81.37%4.63%

So where do we find these elusive dividend kings? You’ll have to look at the biggest market in the world – the US!  In the US, there are 26 dividend kings that have increased their dividend at least 50 years in a row.  

Here is a table supplied by Sure Dividend (sorted by market cap):

TickerNameDividend YieldMarket Cap ($M)
JNJJohnson & Johnson2.96%$339,608
PGProcter & Gamble Co.2.48%$303,819
KOThe Coca-Cola Co.2.87%$235,652
MMM3M Co.3.55%$90,635
LOWLowe’s Cos., Inc.1.96%$83,948
CLColgate-Palmolive Co.2.32%$63,492
TGTTarget Corp.2.47%$54,406
EMREmerson Electric Co.3.29%$35,571
HRLHormel Foods Corp.1.97%$22,582
PHParker-Hannifin Corp.2.12%$20,458
SWKStanley Black & Decker, Inc.2.08%$19,774
CINFCincinnati Financial Corp.1.99%$18,147
DOVDover Corp.2.09%$13,203
GPCGenuine Parts Co.3.38%$12,943
FRTFederal Realty Investment Trust3.25%$9,679
NDSNNordson Corp.1.12%$7,657
CBSHCommerce Bancshares, Inc. (Missouri)1.82%$6,087
LANCLancaster Colony Corp.1.78%$3,934
AWRAmerican States Water Co.1.32%$3,366
CWTCalifornia Water Service Group1.40%$2,686
ABMABM Industries, Inc.1.93%$2,427
TRTootsie Roll Industries, Inc.0.95%$2,400
NWNNorthwest Natural Holding Co.2.66%$2,148
SCLStepan Co.1.05%$2,140
SJWSJW Group1.76%$1,897
FMCBFarmers & Merchants Bancorp (California)1.81%$600

Sources: bigcharts.com; Sure Dividend; Dividend Growth Investor.

Here is the same table sorted by yield:

TickerNameDividend YieldMarket Cap ($M)
MMM3M Co.3.55%$90,635
GPCGenuine Parts Co.3.38%$12,943
EMREmerson Electric Co.3.29%$35,571
FRTFederal Realty Investment Trust3.25%$9,679
JNJJohnson & Johnson2.96%$339,608
KOThe Coca-Cola Co.2.87%$235,652
NWNNorthwest Natural Holding Co.2.66%$2,148
PGProcter & Gamble Co.2.48%$303,819
TGTTarget Corp.2.47%$54,406
CLColgate-Palmolive Co.2.32%$63,492
PHParker-Hannifin Corp.2.12%$20,458
DOVDover Corp.2.09%$13,203
SWKStanley Black & Decker, Inc.2.08%$19,774
CINFCincinnati Financial Corp.1.99%$18,147
HRLHormel Foods Corp.1.97%$22,582
LOWLowe’s Cos., Inc.1.96%$83,948
ABMABM Industries, Inc.1.93%$2,427
CBSHCommerce Bancshares, Inc. (Missouri)1.82%$6,087
FMCBFarmers & Merchants Bancorp (California)1.81%$600
LANCLancaster Colony Corp.1.78%$3,934
SJWSJW Group1.76%$1,897
CWTCalifornia Water Service Group1.40%$2,686
AWRAmerican States Water Co.1.32%$3,366
NDSNNordson Corp.1.12%$7,657
SCLStepan Co.1.05%$2,140
TRTootsie Roll Industries, Inc.0.95%$2,400

As you can see from the list, some of these names are very recognizable with global brand awareness and long term competitive advantage.  Names such as Proctor & Gamble, Coke, Johnson & Johnson, 3M, Colgate, and Lowe’s.  All of these I would purchase if/when their price/valuation is reasonable.

As a disclaimer, I hold the following dividend kings within my RRSP: Proctor & Gamble; 3M; Emerson Electric; Coca-Cola; Target; and, Johnson & Johnson.  Also, this post is not meant to provide recommendations for your portfolio, but a starting point for your research.

If you are interested in dividend investing, here is More Dividend Stock Investing Info:

If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).

FT About the author: FT is the founder and editor of Million Dollar Journey (est. 2006). Through various financial strategies outlined on this site, he grew his net worth from $200,000 in 2006 to $1,000,000 by 2014. You can read more about him here.

{ 12 comments… add one }
  • Avatar cannew August 1, 2016, 2:52 pm

    Certainly dividend increases is important, very important, but one should not get obsessed with insisting on an increase each and every year. I’m retired and 100% invested in DG stocks. But I found there are three keys:
    1. They must pay a dividend, have paid one for many, many years
    2. They must grow the dividend, say 7 of last 10 or 11 of last 15
    3. The price one pays can greatly increase yield and is often obtained when markets drop and a company does not increase their dividend (as with Cdn banks during 2009/2011).
    4. Hold, hold, hold and add to ones position.

  • Avatar Peter August 2, 2016, 3:54 am

    you fail to mentioned anything about DRIPPing the dividend payments. Both broker DRIPS (no partial DRIP or shares) to company DRIP (partial shares allowed but you might have to pay about $50 to do this)

  • Avatar Dividend Earner August 17, 2016, 12:43 pm

    The US definitely has bigger companies with stronger history of providing returns to investors.

    Be careful with the Dividend Aristocrats definition as Canada has one defined by Standard & Poor and it’s adjusted to the Canadian market and requires 5 year of dividend increases with some other rules. The iShare Canadian Dividend Aristocrats follows that rule

    Don’t get me wrong, I prefer a 10 year minimum so Dividend Achievers is where I start.

  • Avatar Mr Fundamental September 5, 2019, 6:43 pm

    Great article! I do like the idea of investing in companies with histories of increasing dividends. This is why I have invested in MCD, AFL, WMT. McDonald’s has increased its dividend every year since 1976!
    However, I think sometimes people get too enamored with dividend yield/increases, and fail to consider TOTAL RETURN. That is what really matters, and that is why I’ve shifted most of my additional investments over the years into low-cost index investing (VTI is my favourite). I think index investing is the easiest path to maximizing total return over the long run. Do you agree?

    Cheers,
    Mr Fundamental

    • FT FT September 7, 2019, 4:31 pm

      I am on the same page, indexing is much easier, and will give you strong results over the long term. The only except is for early retirees, it’s hard to pass up the temptation of the tax advantages of dividend stocks in a non-registered account.

  • Avatar Jenn September 6, 2019, 6:04 pm

    Hello, How do you invest in US Dividend stocks in your canadian investment accounts? When you purchase the US stock, are the canadian funds converted into USD?

  • Avatar GYM September 8, 2019, 3:56 am

    Tootsie Rolls! Who would have thought! Thanks for sharing this list :)

    Altria $MO recently might be considered a Dividend King though it might not technically qualify.

    https://finance.yahoo.com/news/altria-investment-royalty-50th-straight-233100137.html

  • Avatar DivInvestor September 13, 2019, 1:36 pm

    This is an interesting list for dividend increases and tells you a lot about the quality of the companies. I invest in dividend paying companies but put more emphasis on how long they have been paying and total return. For an example during the last recession in 2008 the CDN banks didn’t increase but also didn’t cut their dividends. The best thing I did was hold on to all my investments and ride it out and the results have been very good. (see my blog at dividend-café.com)

    • FT FT September 16, 2019, 9:48 am

      Agreed, even during market bear markets, best to hold onto those quality companies and even better, add to them if you have the cash.

  • Avatar Maxwell September 18, 2019, 12:35 am

    When looking at the CDN list, I see immediately the top stock CU. The earnings don’t cover the dividend.. That would be a concern going forward and one should research this a little deeper.

    Same goes with the other stocks that don’t cover their dividends with earnings.

    • FT FT September 18, 2019, 9:54 am

      I will need to dig a little deeper into CU. Make sure to look at the dividend as a percentage of cash flow as well, as earnings don’t always show the whole picture.

Leave a Comment