Dividend Aristocrats are a group of companies that have increased their dividend payments for at least 25 consecutive years. This accomplishment is a testament to the financial strength and stability of these businesses, and it provides income investors with a reliable source of cash flow. Dividend Aristocrats tend to be large, well-established companies with diverse product lines and global reach.
Many of these businesses are leaders in their respective industries, and they have demonstrated a commitment to shareholder value. As a result, Dividend Aristocrats offer both growth potential and income stability, making them an attractive investment option for many investors. Considering this, here are three top dividend stocks to watch in the stock market today.
Dividend Aristocrats Stocks To Watch Now
1. 3M Co. (MMM Stock)
Kicking us off, 3M Company (MMM) is an American multinational conglomerate corporation operating in the fields of industry, worker safety, US health care, and consumer goods. The company produces over 60,000 products under several brands, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window film, paint protection film, dental and more. As of today, MMM has an annual dividend yield of 4.67%.
Earlier this month, 3M announced its Board of Directors has declared its Q4 2022 quarterly dividend on common stock of $1.49 per share. As a result of this dividend, 3M has paid dividends to its shareholders for more than 100 years without any disruption.
Moving along, as of November 18, 2022, MMM has a PE ratio of 11.04. Meanwhile, in the last month of trading, shares of 3M stock have recovered 7.81%. As of Monday’s closing bell, MMM stock closed the day trading at $127.63 a share.
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2. Cardinal Health (CAH Stock)
Next, let’s turn our attention to Cardinal Health (CAH). In brief, Cardinal Health is one of the largest providers of healthcare products and services. The company provides a broad range of products and services that meet the needs of healthcare providers and patients. For example, the company has a portfolio that includes medical supplies, pharmaceuticals, diagnostic testing, and lab equipment. Currently, CAH has an annual dividend yield of 2.55%.
Just this month, the company announced its Board of Directors approved a quarterly dividend of $0.4957 per common stock. In addition, the dividend will be payable on January 15, 2023, to shareholders of record at the close of business on January 3, 2023.
Also this month, Cardinal Health reported a beat for its Q1 2023 financial results. Specifically, Cardinal Health reported 1st quarter 2023 earnings of $1.20 per share, along with revenue of $49.6 billion.
Meanwhile, shares of CAH stock are up 49.43% so far year-to-date, outperforming the broader markets. On Monday, Cardinal Health stock closed the day flat, trading at $77.72 a share.
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3. Abbott Laboratories (ABT Stock)
Topping off this list we have Abbott Laboratories (ABT). For starters, Abbot Laboratories is a global healthcare company. The company develops and manufactures a broad range of medical products, including diagnostic tests, medical devices, nutrition products, and branded generic pharmaceuticals. What’s more, the company currently offers its shareholders an annual dividend yield of 1.81%.
Last month, Abbott Laboratories reported better-than-expected Q3 2022 financial results. In the report, the company announced an EPS of $1.15 and revenue of $10.4 billion for the 3rd quarter of 2022. This is versus analysts’ consensus estimates for the quarter was an EPS of $0.90 and revenue estimates of $9.6 billion. Additionally, ABT said it expects FY 2022 earnings of $5.17 to $5.23 per share.
Separate from that, in the last month of trading Abbott Laboratories has rebounded 5.69%. Going into Tuesday morning’s trading session, shares of ABT stock are set to open at around $103.85 a share.
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