Dividend Champions For September 2020

About the Dividend Champions List

The Dividend Champions list is a monthly publication tracking companies with a history of consistently increasing their dividends. Wider in scope than the well-known S&P 500 Dividend Aristocrats and Nasdaq Dividend Achievers, the Dividend Champions covers all companies listed on exchanges in the United States. In order to be included in the list, the annual split-adjusted dividend payout of a company (based on calendar year) must be consistently increasing. The Dividend Champions list is separated into three categories based on how long companies have maintained the streak of annually increasing dividends: Champions (25 or more years), Contenders (10 to 24 years), and Challengers (5 to 9 years). The Dividend Champions list was created by David Fish in 2007 and is currently maintained by Justin Law. The Dividend Champions list may be obtained for free for personal, non-commercial use from the DRIP Investing Resource Center. Data in the Dividend Champions list is provided “as is” with no guarantees of accuracy, completeness, or timeliness.

New Challengers Approach

It’s been a while since new Challengers have been added to the list. This month, I’m pleased to see two new Challengers. 34 companies declared higher dividends in the past month, with an average increase of 8.4% over their previous payouts. The latest version of the Dividends Champions List will be available at the DRIP Investing website and is also attached below:

U.S.DividendChampions_2020-08-31.xlsx

The Dividend Champions universe has increased to 758 companies. The average dividend streak remains at 15.6 years. The average yield has decreased to 3.22% from 3.28% the previous month.

Dividend Increases: (ATRI), (BMI), (BR), (CABO), (CBOE), (CBU), (CCOI), (CHCT), (CHE), (CSL), (CTO), (DOV), (EGP), (EVA), (FRT), (HFBL), (IFF), (INTU), (ITW), (KLAC), (LOGI), (LOW), (LRCX), (MCHP), (NDSN), (NRIM), (NSA), (POWI), (RBA), (STE), (TRNO), (TSCO), (WLK), (WTRG)

Additions to Challengers: LCI Industries (LCII), Kilroy Realty Corp (KRC)

Promotions:

Intuit (INTU) and Terreno Realty Corp (TRNO) have been promoted to Contender.

Deletions:

Legg Mason (LM) has been acquired by Franklin Templeton (BEN).

Other:

Altabancorp (ALTA) reduced its quarterly dividend from $0.14 to $0.13, but is still on pace to pay out more than last year, so it will remain on the list.

GEO Group (GEO) expects to cut its dividend from $0.48 to $0.34, and will be removed once the cut is officially declared.

Warnings:

It has been more than one year since the following companies last increased their dividend: Atlantic Union Bankshares Corp. (AUB), Citigroup Inc. (C.PK), Reinsurance Group of America Inc. (RGA), Mueller Water Products, Inc. (MWA), Woodlands Financial Services Co. (OTCPK:WDFN), Truist Financial Corp (TFC), ResMed Inc. (RMD), Southern Missouri Bancorp Inc. (SMBC), TCF Financial Corp. (TCF), Zions Bancorp Inc. (ZION), Ryder System (R), Hennessy Advisors Inc. (HNNA), Cummins Inc. (CMI), Discover Financial Services (DFS), Littelfuse Inc. (LFUS), Resources Connection Inc. (RGP), KeyCorp (KEY), Maxim Integrated Products (MXIM), Ashland Global Holdings Inc. (ASH), Goldman Sachs Group Inc. (GS.PK), Union Pacific (UNP), Kellogg Company (K).

Chart of the Month

This graph is a courtesy of Chuck Carnevale and FAST Graphs. As always, it is not intended as a recommendation, but is just one I found interesting. Do your own due diligence.

Just another beaten-down, under-the-radar bank. But, believe it or not, this one’s a Dividend Champion with 28 years of growth…

How you can help

Errors? Let me know! I don’t have time to manually verify every piece of data presented in this list. If you run across something that is clearly wrong, let me know in the comments or send me a message and I will do my best to get it fixed.

Suggestions? I am always open to your ideas on how the list can be improved.

Spread the word. There may still be people who used to follow David Fish and are unaware that this list is still being produced. Let them know!

Looking for more in depth analysis of high quality dividend stocks? Check out the Dividend Kings marketplace service!

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor’s Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.

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