Dividend Aristocrats are stocks that have consistently increased their dividends for 25 consecutive years or more. These stocks are often considered a good choice for long-term investors seeking a reliable source of income. In this article, we’ll explore what dividend aristocrats are and provide an overview of three dividend aristocrats that you may want to watch in the stock market today.
First, let’s define what dividends are and how they work. Dividends are payments made by a company to its shareholders out of its profits or reserves. These payments are typically made in cash. However, they can also pay in the form of additional shares of stock or other assets. Companies may choose to pay dividends for a variety of reasons, such as to reward shareholders for their investment or to distribute excess cash that the company is not using for other purposes.
Dividend aristocrats are stocks that have consistently raised their dividends for 25 straight years or longer. These companies are known for their strong financial performance, stability, and ability to consistently generate profits. With that being said, let’s take a look at three dividend aristocrats to check out in the stock market today.
Dividend Aristocrats To Watch Right Now
- Abbott Laboratories (NYSE: ABT)
- Archer-Daniels-Midland Company (NYSE: ADM)
- Dover Corporation (NYSE: DOV)
Abbott Laboratories (ABT Stock)
Leading off, Abbott Laboratories (ABT) is a healthcare company that operates in a wide range of markets, including pharmaceuticals, medical devices, and consumer healthcare products.
This month, the company announced that its Board of Directors has declared an increase in ABT’s quarterly dividend on common stock. In detail, Abbott increased its quarterly dividend to $0.51 per share. This reflects an 8.5% jump. Also, this dividend is Abbott’s 51st consecutive year of increasing its dividend. Meanwhile, the company said the dividend is payable on February 15, 2023, to shareholders of record at the close of business on January 13, 2023.
In the last month of trading action, shares of ABT stock have started to recover by 2.40%, though shares are still down 23.50% year-to-date. Meanwhile, as of Tuesday afternoon’s trading session, ABT stock is trading at $106.46 a share.
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Archer-Daniels-Midland (ADM Stock)
Next, Archer-Daniels-Midland Company (ADM) is a global agricultural processing company. For starters, the company operates in a wide range of markets, including feed, food, and industrial products. The company’s products include animal feed, plant-based protein, sweeteners, and food ingredients, among others. Today, ADM offers its shareholders a quarterly dividend of $0.20 per common stock. This results in an annual dividend yield of 1.72%.
Back in October, Archer-Daniels-Midland reported a beat for its third-quarter 2022 financial results. Getting straight into it, the company reported Q3 2022 earnings of $1.86 per share, along with revenue of $24.7 billion. This is versus Wall Street estimates for the quarter, which were earnings of $1.42 per share on revenue of $22.4 billion. Additionally, ADM notched in a 21.4% increase in revenue versus the same period, a year prior.
Moving along, year-to-date, Archer-Daniels-Midland stock is up 37.19%, outperforming the broader markets so far in 2022. Meanwhile, as of Tuesday’s afternoon trading action, shares of ADM stock are trading slightly higher on the day by 0.35% at $92.97 a share.
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Dover Corp (DOV Stock)
Last but not least, Dover Corporation (DOV) is a diversified global manufacturer. The company operates in a broad range of industries, including energy, industrial, and aerospace. The company’s products include drilling and production equipment, engineered systems, and aerospace components, among others. Currently, Dover has a quarterly cash dividend of $0.51, which results in an annual dividend yield of 1.52%.
In late October, Dover Corp reported in-line results in its Q3 2022 financial results. In detail, the company posted 3rd quarter 2022 earnings of $2.26 per share and revenue of $2.2 billion. For context, analysts’ consensus estimates for the quarter were earnings of $1.20 per share and revenue of $2.2 billion.
Continuing on, over the past six months of trading, shares of DOV stock have rebounded by 11.77%. Meanwhile, as of Tuesday’s close, DOV stock closed the trading day modestly higher by 0.66% at $133.25 a share.
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