Dividend Kings have a long history of delivering market-beating returns for investors and proving to be generally steady, safe holdings. A Dividend King is a company that's grown its dividend payment for at least 50 consecutive years.
Companies that pay -- and then grow -- their dividends every year generally have the sort of characteristics investors should look for:
- Durable competitive moats that help them generate steady profits year after year
- Some ability to grow earnings per share over the long term
- Prudent board members and management who prioritize returning excess profits not needed for reinvestment back to shareholders
What is a Dividend King?
Many investors are familiar with the Dividend Aristocrats®. (The term Dividend Aristocrats® is a registered trademark of Standard & Poor's Financial Services, LLC.) These stocks are members of the S&P 500 that have increased their dividends for at least 25 consecutive years.
But there's an even more elite group of dividend stocks that doesn't receive as much attention. Dividend Kings don't have to be members of the S&P 500, but they must reach an ultramarathon-like dividend streak -- at least 50 consecutive years of payout growth. Here's what you need to know about the Dividend Kings and how they can fit into your investment portfolio.
2025 Dividend Kings
These 56 stocks qualified as Dividend Kings as of Nov. 14, 2025, including two "unofficial" Dividend Kings that qualify depending on how you interpret dividend growth.
Dividend King | Sector | Dividend Increase Streak |
|---|---|---|
American States Water (NYSE:AWR) | Utilities | 71 |
Dover Corporation (NYSE:DOV) | Industrials | 70 |
Northwest Natural Holdings (NYSE:NWN) | Utilities | 70 |
Genuine Parts (NYSE:GPC) | Consumer Goods | 69 |
Parker-Hannifin (NYSE:PH) | Industrials | 69 |
Procter & Gamble (NYSE:PG) | Consumer Goods | 69 |
Emerson Electric (NYSE:EMR) | Industrials | 67 |
Cincinnati Financial (NASDAQ:CINF) | Financials | 64 |
Coca-Cola (NYSE:KO) | Consumer Goods | 63 |
Kenvue (NYSE:KVUE) | Consumer Goods | 63* |
Johnson & Johnson (NYSE:JNJ) | Healthcare | 63 |
Marzetti (NASDAQ:MZTI) | Consumer Goods | 62 |
Colgate-Palmolive (NYSE:CL) | Consumer Goods | 62 |
Nordson (NASDAQ:NDSN) | Industrials | 62 |
Illinois Tool Works (NYSE:ITW) | Industrials | 62 |
Farmers & Merchants Bancorp (OTC:FMCB) | Financials | 60 |
Hormel Foods (NYSE:HRL) | Consumer Goods | 59 |
California Water Service Group (NYSE:CWT) | Utilities | 58 |
Federal Realty Investment Trust (NYSE:FRT) | Real Estate | 58 |
Tootsie Roll Industries (NYSE:TR) | Consumer Goods | 58** |
Stanley Black & Decker (NYSE:SWK) | Industrials | 58 |
ABM Industries (NYSE:ABM) | Industrials | 58 |
Stepan (NYSE:SCL) | Industrials | 58 |
Commerce Bancshares (NASDAQ:CBSH) | Financials | 57 |
SJW Group (NASDAQ:SJW) | Utilities | 57 |
H.B. Fuller (NYSE:FUL) | Materials | 56 |
Altria Group (NYSE:MO) | Consumer Goods | 56 |
Black Hills Corp. (NYSE:BKH) | Utilities | 55 |
National Fuel Gas (NYSE:NFG) | Energy | 55 |
Universal Corporation (NYSE:UVV) | Consumer Goods | 55 |
MSA Safety (NYSE:MSA) | Industrials | 55 |
Sysco (NYSE:SYY) | Consumer Goods | 55 |
Lowe's (NYSE:LOW) | Consumer Goods | 54 |
Target (NYSE:TGT) | Consumer Goods | 54 |
W.W. Grainger (NYSE:GWW) | Industrials | 54 |
PPG Industries (NYSE:PPG) | Industrials | 54 |
Tennant (NYSE:TNC) | Industrials | 54 |
AbbVie (NYSE:ABBV) | Healthcare | 54**** |
ADM (NYSE:ADM) | Industrials | 53 |
Kimberly-Clark (NASDAQ:KMB) | Consumer Goods | 53 |
Canadian Utilities (OTC:CDUAF) | Utilities | 53*** |
Abbott (NYSE:ABT) | Healthcare | 53 |
BD (NYSE:BDX) | Healthcare | 53 |
PepsiCo (NASDAQ:PEP) | Consumer Goods | 53 |
Middlesex Water (NASDAQ:MSEX) | Utilities | 53 |
The Gorman-Rupp Company (NYSE:GRC) | Industrials | 53 |
Walmart (NYSE:WMT) | Consumer Goods | 52 |
S&P Global (NYSE:SPGI) | Financials | 52 |
Consolidated Edison (NYSE:ED) | Utilities | 52 |
Nucor (NYSE:NUE) | Industrials | 52 |
RPM International (NYSE:RPM) | Industrials | 52 |
Fortis (NYSE:FTS) | Utilities | 51 |
United Bankshares (NASDAQ:UBSI) | Financials | 51 |
RLI Corp. (NYSE:RLI) | Financials | 50 |
Automatic Data Processing (NASDAQ:ADP) | Technology | 51 |
MGE Energy (NASDAQ:MGEE) | Utilities | 50 |
The industrial and consumer goods sectors make up more than half of the 2025 Dividend Kings list. This shouldn't be a surprise. Companies in these sectors tend to pay dividends and raise their prices with inflation, and many have also been in operation for a long time. The list breaks down as follows:
- 16 industrial companies
- 16 consumer goods
- 10 utility stocks
- 4 healthcare stocks
- 6 financial stocks
- 1 energy stock
- 1 materials stock
- 1 real estate stock
- 1 tech stock
There aren't any exchange-traded funds (ETFs) that focus exclusively on Dividend Kings. However, the ProShares S&P 500 Dividend Aristocrats ETF (NOBL -0.11%) owns shares of all Dividend Aristocrats®.
Dividend King changes in 2025
Companies that make this list don't often lose their status; the things that make a company strong enough to make it 50 years with annual dividend increases are usually very durable. Plus, there's tremendous pressure on companies that have increased their dividends for 50-plus years to keep the streak going. No CEO wants to be known as the leader who messed up such an impressive dividend track record.
Chief Executive Officer (CEO)
Likely Dividend King winners in 2025
Three key factors could affect many stocks in 2025, including several of the Dividend Kings:
- Inflation
- Interest rates
- A possible recession tied to the two factors above
These factors could benefit some stocks but hurt others. Here are three Dividend Kings that could be winners in 2025:
| Name and ticker | Market cap | Dividend yield | Industry |
|---|---|---|---|
| Target (NYSE:TGT) | $40.2 billion | 6.37% | Food and Staples Retailing |
| Altria Group (NYSE:MO) | $97.6 billion | 7.09% | Tobacco |
| Johnson & Johnson (NYSE:JNJ) | $480.8 billion | 2.55% | Pharmaceuticals |
1. Target
Target has been on a seriously rough ride in recent years. Like many other big-box retailers, the impact of inflation and supply chain challenges left the company with too many of the wrong goods and rising costs, pressuring its cash flow following the COVID-19 pandemic.
NYSE: TGT
Key Data Points
More recently, it has continued to struggle with inventory mix and weak traffic as shoppers cut back on discretionary spending. This is something that affects Target more than competitors like Walmart, with its more discount-focused model and massive grocery business.
And while Target hasn't delivered the growth many expected, it's in far better shape than the stock would have many investors believe. It's also built to succeed when consumer confidence and appetite for increased spending return. Its e-commerce investments and large physical presence are a powerful combination that should serve Target well.
Target is a major supplier of consumer staples, and even as consumers feel the pinch on their discretionary spending, Target is built to profit across economic environments. Trading for a cheap valuation and paying a safe dividend, Target looks like a great Dividend King to buy today and hold for the long term.
2. Altria
Some investors look at the tobacco giant with disdain; others simply won't buy a company whose products cause so much harm. But if that's not a concern for you, Altria should be on your list. The company has had a number of missteps around vaping products in recent years, and its ability to crack the cannabis market isn't clear (or the future of cannabis's legality in many of Altria's markets).
NYSE: MO
Key Data Points
However, it continues to generate mountains of cash -- $9.2 billion in free cash flow over the past four quarters -- and returns much of that to shareholders in dividend income. It also sells a product that its customers buy across every economic condition, making its sizable dividend safe in every economic environment.
3. Johnson & Johnson
Another Dividend King that's gone through a tumultuous past several years is Johnson & Johnson (J&J). However, the healthcare giant could emerge as a winning stock this year. To start, today's J&J is a more streamlined business, having divested Kenvue, its consumer products business, in 2023. Now, the company is focused on pharmaceuticals, medical devices, and technology exclusively.
NYSE: JNJ
Key Data Points
Over the past few years, with paltry returns from 2022 through 2024, J&J stock hasn't made for a great investment, even with dividend growth. However, despite the disappointing returns in recent years, the five- and 10-year returns are considerably better, even with the recent weakness.
Why invest in Dividend Kings?
Dividend Kings aren't necessarily a good fit for every investor, but their long records of growing payouts are often underpinned by good businesses that are worth owning. A few key reasons:
- Dividend Kings can be a great component of retirement portfolios or for investors looking for reliable income.
- Most of these stocks offer higher dividend yields than the average yield of S&P 500 members.
- Their consistency in paying and increasing dividend payouts can also provide a measure of confidence for people living on the income generated by the dividend stocks they own.
FAQ
About the Author
