For dividend investors, an attractive dividend yield is essential, but it’s important not to get caught up in extreme yields that are not sustainable. Below is a list of the highest yielding companies that have raised their dividend every year for at least 25 years (and some over 50 years).
High Yielding Consumer Goods Stocks
Established in 1888, tobacco company Universal Corp (UVV ) has been raising its dividend every year since 1972. The company announces its increased dividend payouts every November and usually raises its dividend around 2%.
Like many companies in the tobacco industry, Altria (MO ) offers a great dividend yield for investors. Founded in 1919, MO has been raising its dividend every year since 1970 at an average growth rate of 8% per year. The company declares an increased dividend payout every August.
Founded in 1859, the integrated self-service delivery and security systems provider Diebold (DBD ) is one of the oldest companies on Wall Street. It has been raising its dividend every year since 1954. Its annualized dividend growth rate over the last three years is 2.1%.
Leggett & Platt
Home furniture store Leggett & Platt (LEG ) was founded in 1883 and has been lifting its quarterly dividend since 1972. Every August, LEG announces a dividend increase, which is typically a penny higher than its previous quarterly dividend
Sonoco Products (SON ) was founded in 1899 and has been increasing dividends every year since 1981. The company has an annualized dividend growth rate of roughly 3.5%. The company typically announces dividend raises in April.
High Yielding Financial Stocks
Universal Health Realty Income Trust
Healthcare focused real estate investment trust (REIT) Universal Health Realty Income Trust (UHT ) was founded in 1986 and has been raising its dividend every year since. As a REIT, the company is required to distribute 90% of its earnings to its shareholders in the form of dividends.
Old Republic International Corp
Insurance underwriting company Old Republic International Corp (ORI ) was established in 1923 and has been raising its dividend since 1982. The company typically raises its dividend by about 1.5% and announces its increases in February.
Another real estate investment trust, HCP, Inc. (HCP ) was founded in 1985 and has been raising its dividend every year since 1986. HCP announces dividend increases in January and usually raises its dividend by about 2%.
Insurance company Mercury General (MCY ) was founded in 1960 and has been raising its dividend annually since 1986. The company announces dividend increases in November. Its annualized dividend growth is about 1.1%.
Founded in 1950, insurance company Cincinnati Financial (CINF ) has been boosting its dividend every year since 1961. The company usually raises its dividend by around 1% every year.
High Yielding Utilities Stocks
Founded in 1823, Consolidated Edison (ED ) has been boosting its dividend every year since 1975. The company’s annual increases are usually less than 1%, but the company still offers an impressive yield. Investors can expect dividend increase announcements each January.
Northwest Natural Gas
Northwest Natural Gas Company (NWN ) was established in 1959 and has been raising its dividend since 1956. The company tends to raise its dividend by 2%-5% every year and announces increases every October.
Middlesex Water Co.
Water company Middlesex Water Co. (MSEX ) was founded 1987 and has been lifting its dividend every year since 1973. Although the company is a micro-cap stock, it has managed to pay a consistent dividend for over 40 years. MSEX declares dividend increases in October and usually raises its dividend by about 1%.
Vectren Corporation (VVC ) was founded in 1912 and has been increasing its dividend since 1960. VVC raises its dividend every November, usually by around 1.5%.
Piedmont Natural Gas
Piedmont Natural Gas (PNY ) was established in 1949 and has been boosting its dividend since 1979. The company’s dividend increases are announced in March and usually increase by about 3%.
Gas company WGL Holdings (WGL ) was established in 1848 and has been lifting its quarterly dividend since 1977. Raising its dividend an average of 3% per year, WGL typically announces dividend increases every February.
High Yielding Services Stocks
Fast food giant McDonald’s Corporation (MCD ) was founded in 1940 and has been lifting its quarterly dividend every year since 1977. The company tends to reward shareholders with significant dividend increases each year. MCD will declare its next dividend increase sometime in September.
Food company Sysco Corp (SYY ) was established in 1969 and has been raising its dividend consistently since 1971. Every November, the company announces its annual dividend increase.
Other High Yield Stocks
Communications company AT&T Inc. (T ) was founded in 1883 and has been increasing its dividend every year since 1985. Although the company’s yield appears low when compared to its competitors, T is the highest yielding Dow component. The company announces small dividend increases every year in November or December.
AbbVie (ABBV ) was spun off from Abbott Laboratories (ABT) in 2013. ABT has been raising its dividend every year since 1973. ABBV raises its dividend in February.
The Bottom Line
Although none of these companies have extremely high yields, they all have proven that they are committed to offering a reliable dividend to shareholders. For more information of finding the right stocks and industries for your investment objective, check out Comparing Dividend Stock Sectors by Yield.