The Dividend Aristocrats 2024 are U.S. stocks that have increased their dividend for 25+ years. However, this factor alone does not qualify a stock as a Dividend Aristocrat. To be included on the list, a company must meet five criteria:
Be a member of the S&P 500 Index
Have raised the regular dividend per share for at least 25 consecutive years
Have a market capitalization of at least $3 billion
Average at least $5 million in daily share trading value for the three months before the rebalancing date
The minimum number of constituents must be 40 at each rebalancing date. In addition, a particular Global Industry Classification Standard or ‘GICS’ should only result in one sector comprising up to 30% of the index weight.
The Index is updated quarterly in January, April, July, and October.
These stocks are found in the S&P 500 Dividend Aristocrats Index. Currently, there are 66 stocks in the Dividend Aristocrats.
Investors can examine updated, select financial data and the dividend earnings calendar for each stock in the Dividend Aristocrats list in the tables at the end of the article. The most recent dividend increases are also available to search.
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Market Update for the Dividend Aristocrats 2024
The Dividend Aristocrats 2024 yields about 2.52%, and the average forward price-to-earnings ratio is approximately 19.02X.
The mean market capitalization is roughly $93,013 million, and the median is approximately $44,907 million. The market cap ranges between about $8,240 million and $531,124 million. The total market capitalization is roughly $6,231,851 million.
In 2023, the Dividend Aristocrats provided a total return of 8.44% after a negative return in 2022. The price return was 5.74%. This performance was less than the S&P 500 Index in 2023 at 26.29%.
In the trailing 1-year, the Dividend Aristocrats 2024 returned +11.4% (blue line) compared to +27.0% for the S&P 500 Index (red line), as seen in the chart below. We used Stock Rover* to create this watchlist and chart. Over the trailing 5-years, the Dividend Aristocrats have returned +81.6%, and the S&P 500 Index has returned +105.2%.
Source: Stock Rover*
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Difference Between Dividend Champions and Aristocrats
A Dividend Aristocrat can also be a Dividend Champion but not vice-versa. For instance, Arrow Financial Corporation (AROW) does not meet all the above criteria; thus, it is not a Dividend Aristocrat. However, Arrow has raised the dividend for 31 years, permitting it to be on the Dividend Champions list. As a result, there are more Dividend Champions than Dividend Aristocrats.
Historical Performance
As a group, the S&P 500 Dividend Aristocrats have exhibited solid returns with low volatility. For example, the Dividend Aristocrats had annualized total returns of 11.15% over the past decade and a standard deviation of 14.62%. On the other hand, the benchmark (the S&P 500 Index) had annualized total returns of 10.32% and a standard deviation of 15.12%.
Over the past 5-years, the Dividend Aristocrats had an annualized total return of 10.98% with a standard deviation of 17.9%. The benchmark had an annualized total return of 14.3% and a standard deviation of 18.28%.
Source: S&P Dow Jones Indices
The table below shows the calendar year’s performance from 2014 to 2023.
Source: S&P Dow Jones Indices
Changes to the Dividend Aristocrats in 2024
On May 24, 2024, the S&P Dow Jones Indices announced it will change the S&P 500 Dividend Aristocrats Index by removing 3M Company (MMM) on June 3rd. The 3M Company cut its dividend after a 66-year streak of increases.
On January 24, 2024, the S&P Dow Jones Indices announced the annual rebalancing for the S&P 500 Dividend Aristocrats. Walgreens Boots Alliance (WBA) was removed from the list. WBA cut its dividend in late 2023. Fastenal (FAST) was added to the list. The company is a distributor of industrial and construction supplies.
Other Dividend Stock Lists
Note that a company can be a Dividend Aristocrat and a Dividend King. Dividend Kings have raised dividends for at least 50 consecutive years. The other lists of American stocks are below.
For Canadian stocks, there is an article
For UK stocks, there is an article
Other dividend stock lists
Some Details on the Dividend Aristocrats 2024
The Dividend Aristocrats 2024 is a reasonably select list since there are only 66 companies. This number is out of nearly 6,000 companies listed on the New York Stock Exchange (NYSE) and NASDAQ in 2023, indicating a success rate of approximately 1.12%.
Dividend Aristocrats Sector Breakdown
The sector with the highest representation of the Dividend Aristocrats 2024 is Consumer Staples, approximately 24.6%. This point is likely due to these stocks’ relatively stable earnings and cash flow characteristics. In addition, these companies tend to grow profits slowly over time, permitting annual dividend increases.
Stocks from the Industrials sector have the second-highest representation on the Dividend Aristocrats 2024 at about 23.1%. This class of stocks tends to have more volatile earnings and cash flows, but many have low payout ratios, allowing them to grow their dividends during recessions and economic downturns.
The third sector on the list is the Materials sector at 12.0%. These companies are like Industrial stocks in that they are usually volatile but have low payout ratios.
These three sectors comprise the majority of the Dividend Aristocrats at 59.7%.
Only Three REITs
Only three Real Estate Investment Trusts (REITs) exist in the Dividend Aristocrats. These are Essex Property Trust (ESS), Federal Realty Investment Trust (FRT), and Realty Income (O). In addition, the list does not include any Master Limited Partnerships (MLPs).
Related Articles About REITs on Dividend Power
Sector Breakdown
The sector breakdown for the Dividend Aristocrats 2024 is seen in the chart below. Because of the composition changes in the S&P 500 Index, the sector composition has changed with time. In addition, the Great Recession caused many previous Dividend Aristocrats to freeze or even cut their dividends. As a result, these primarily financial stocks were dropped from the list of Dividend Aristocrats, affecting the sector composition.
A few industrial stocks were also dropped from the list at the time. In fact, between 2009 and 2010, nineteen companies were dropped from the list of Dividend Aristocrats.
Source: S&P Dow Jones Indices
The sector ranking for the Dividend Aristocrats 2024 is unlike the Canadian Dividend Aristocrats, which have Financials, Industrials, and Real Estate as the top three sectors.
It is also unlike the UK High Yield Dividend Aristocrats, with Financials, Real Estate, and Industrials as the top three sectors.
Market Size of the S&P 500 Dividend Aristocrats 2024
The largest Dividend Aristocrat by market capitalization is Walmart (WMT), with roughly $473 billion market capitalization. The smallest Dividend Aristocrat is Federal Realty Trust (FRT), with an $8.25 billion market capitalization. The Dividend Aristocrats have a total market capitalization of over $5 trillion.
The one with the highest forward yield is 3M Company (MMM), and the one with the lowest dividend yield is West Pharmaceuticals (WST).
Dover Corporation (DOV) is the Dividend Aristocrat with the longest streak of consecutively increasing the dividend at 69 years. It is followed by Genuine Parts Company (GPC), Northwest Natural Holding Company (NWN), and The Procter & Gamble Company (PG)
List of Dividend Aristocrat Stocks in 2024
The Dividend Aristocrat 2024 list serves as a screen for further investigating a stock for a dividend growth portfolio. It is a list of companies with stable businesses that have competitive advantages and have returned cash to shareowners consistently through dividends and, in some cases, buybacks.
Stock Rover* and Portfolio Insight* were used to create this table.
TickerCompanyDividend YieldEPS 5-Year Avg (%)Dividend 10-Year Avg (%)Payout RatioPrice / EarningsCap ($M USD)
ABBVAbbVie3.70%-1.20%13.90%177.70%49.9$295,694
ABTAbbott Laboratories2.10%17.00%9.60%64.40%32.5$181,704
ADMArcher-Daniels Midland3.20%14.60%7.60%32.30%10.8$30,930
ADPAutomatic Data Processing2.30%18.20%11.30%58.90%27.7$101,315
AFLAflac2.30%17.30%10.50%19.30%9.7$50,187
ALBAlbemarle1.40%-15.50%3.80%58.00%42$13,640
AMCRAmcor4.90%- – 109.80%22.6$14,712
AOSA.O. Smith1.60%8.70%15.60%32.00%21$11,876
APDAir Products & Chemicals2.70%8.10%8.70%63.20%24.2$59,493
ATOAtmos Energy2.80%9.70%8.10%46.60%17.4$17,365
BDXBecton Dickinson1.60%6.10%5.70%81.90%51.1$69,144
BENFranklin Resources5.30%-10.00%10.00%70.50%13.5$12,330
BF.BBrown-Forman2.00%3.00%6.50%41.30%20.5$20,739
BROBrown & Brown0.60%20.00%10.00%15.00%27.6$25,583
CAHCardinal Health2.10%64.00%5.20%88.20%43.5$23,979
CATCaterpillar1.60%15.50%8.00%22.90%14.9$160,966
CBChubb1.40%21.60%3.20%15.20%11.7$107,211
CHDChurch & Dwight Co1.10%6.20%6.20%34.40%34.3$26,433
CHRWC.H. Robinson Worldwide2.80%-12.20%5.70%95.70%34.6$10,294
CINFCincinnati Financial2.80%19.50%6.30%20.20%7.6$17,961
CLColgate-Palmolive2.10%3.30%3.30%60.80%30$77,371
CLXClorox3.60%-20.50%5.40%245.10%68.3$16,444
CTASCintas0.80%12.70%20.30%35.30%47.2$69,307
CVXChevron4.20%8.50%4.30%56.40%14.3$284,816
DOVDover1.10%21.60%3.10%19.40%17.1$24,575
ECLEcolab1.00%1.30%7.60%40.40%44.4$68,522
EDConsolidated Edison3.60%3.70%2.80%61.90%17.6$31,825
EMREmerson Electric2.00%-1.70%2.00%11.20%31.7$61,098
ESSEssex Property Trust3.70%5.30%7.30%114.50%32.7$17,244
EXPDExpeditors Intl1.20%6.10%8.60%29.00%26.4$17,754
FASTFastenal2.40%8.50%12.10%71.30%31.8$36,762
FRTFederal Realty Investment4.30%-1.50%3.40%154.80%36.3$8,459
GDGeneral Dynamics1.90%2.00%8.60%43.40%24.5$82,171
GPCGenuine Parts2.80%10.70%5.70%42.70%16$19,969
GWWW.W. Grainger0.90%20.70%6.60%20.50%24.3$43,195
HRLHormel Foods3.70%-5.10%10.90%79.60%22.1$17,000
IBMIBM4.00%-1.40%4.30%74.10%19$154,172
ITWIllinois Tool Works2.30%6.20%12.80%54.20%23.8$71,852
JNJJohnson & Johnson3.40%4.50%5.90%31.20%21.8$352,577
KMBKimberly-Clark3.60%1.40%3.80%87.20%25.2$46,147
KOCoca-Cola3.00%8.70%4.70%74.60%25.8$276,785
KVUEKenvue4.30%- – 77.10%24.2$36,065
LINLinde1.30%1.40%7.90%40.10%33.6$208,475
LOWLowe’s Companies2.10%33.30%19.80%35.20%17.5$124,833
MCDMcDonald’s2.60%9.30%7.50%53.90%22$188,034
MDTMedtronic3.40%-1.60%9.40%87.00%29.9$108,204
MKCMcCormick & Co2.40%0.50%8.50%60.20%26.4$18,582
NDSNNordson1.20%8.80%14.20%31.70%26.9$12,933
NEENextEra Energy2.70%19.60%11.00%52.10%21.1$159,616
NUENucor1.30%16.40%3.90%12.30%9.6$38,934
ORealty Income5.70%-4.20%3.50%284.40%50$47,293
PEPPepsiCo3.10%-5.60%8.30%75.80%26.2$238,909
PGProcter & Gamble2.40%7.80%4.60%59.80%27.5$396,950
PNRPentair1.20%16.00%-0.80%23.50%20.8$13,045
PPGPPG Indus2.00%1.90%6.90%43.10%22.3$30,927
ROPRoper Techs0.50%5.20%14.10%20.60%40.5$59,034
SHWSherwin-Williams0.90%19.20%14.60%26.70%32.6$77,616
SJMJM Smucker3.70%- 6.20%- – $12,336
SPGIS&P Global0.80%3.70%11.70%40.40%49.1$136,709
SWKStanley Black & Decker3.90%- 4.90%- – $13,006
SYYSysco2.80%6.30%5.60%48.50%17.7$36,096
TGTTarget3.00%9.40%9.80%49.00%16.4$67,493
TROWT. Rowe Price Gr4.30%2.10%10.90%58.00%13.8$26,006
WMTWalmart1.20%14.80%2.60%39.60%28.8$542,302
WSTWest Pharmaceutical Servs0.30%21.20%7.20%10.20%41.7$23,082
XOMExxon Mobil3.30%13.40%3.20%45.60%13.9$509,780
Dividend Calendar
This table was created using StockRover*.
TickerCompanyEx-Dividend DateDividend Record DateDividend Payment DateDividend FrequencyNext Dividend Payment Per ShareDividend Per Share
ABBVAbbVie4/12/244/15/245/15/244$1.55 $6.20
ABTAbbott Laboratories4/12/244/15/245/15/244$0.55 $2.20
ADMArcher-Daniels Midland5/15/245/16/246/5/244$0.50 $2.00
ADPAutomatic Data Processing6/14/246/14/247/1/244$1.40 $5.60
AFLAflac5/21/245/22/246/3/244$0.50 $2.00
ALBAlbemarle6/14/246/14/247/1/244$0.40 $1.60
AMCRAmcor5/21/245/22/246/11/244$0.12 $0.50
AOSA.O. Smith4/29/244/30/245/15/244$0.32 $1.28
APDAir Products & Chemicals7/1/247/1/248/12/244$1.77 $7.08
ATOAtmos Energy5/24/245/28/246/10/244$0.81 $3.22
BDXBecton Dickinson6/10/246/10/246/28/244$0.95 $3.80
BENFranklin Resources6/28/246/28/247/12/244$0.31 $1.24
BF.BBrown-Forman6/7/246/7/247/1/244$0.22 $0.87
BROBrown & Brown5/3/245/6/245/15/244$0.13 $0.52
CAHCardinal Health7/1/247/1/247/15/244$0.51 $2.02
CATCaterpillar4/19/244/22/245/20/244$1.30 $5.20
CBChubb6/13/246/14/247/5/244$0.91 $3.64
CHDChurch & Dwight Co5/14/245/15/246/3/244$0.28 $1.13
CHRWC.H. Robinson Worldwide6/7/246/7/247/1/244$0.61 $2.44
CINFCincinnati Financial6/18/246/18/247/15/244$0.81 $3.24
CLColgate-Palmolive4/19/244/22/245/15/244$0.50 $2.00
CLXClorox4/23/244/24/245/10/244$1.20 $4.80
CTASCintas5/14/245/15/246/14/244$1.35 $5.40
CVXChevron5/16/245/17/246/10/244$1.63 $6.52
DOVDover5/31/245/31/246/14/244$0.51 $2.04
ECLEcolab6/18/246/18/247/15/244$0.57 $2.28
EDConsolidated Edison5/14/245/15/246/14/244$0.83 $3.32
EMREmerson Electric5/16/245/17/246/10/244$0.52 $2.10
ESSEssex Property Trust6/28/246/28/247/12/244$2.45 $9.80
EXPDExpeditors Intl6/3/246/3/246/17/242$0.73 $1.46
FASTFastenal4/24/244/25/245/23/244$0.39 $1.56
FRTFederal Realty Investment6/21/246/21/247/15/244$1.09 $4.36
GDGeneral Dynamics4/11/244/12/245/10/244$1.42 $5.68
GPCGenuine Parts6/7/246/7/247/1/244$1.00 $4.00
GWWW.W. Grainger5/10/245/13/246/1/244$2.05 $8.20
HRLHormel Foods7/15/247/15/248/15/244$0.28 $1.13
IBMIBM5/9/245/10/246/10/244$1.67 $6.68
ITWIllinois Tool Works6/28/246/28/247/11/244$1.40 $5.60
JNJJohnson & Johnson5/20/245/21/246/4/244$1.24 $4.96
KMBKimberly-Clark6/7/246/7/247/2/244$1.22 $4.88
KOCoca-Cola6/14/246/14/247/1/244$0.49 $1.94
KVUEKenvue5/7/245/8/245/22/244$0.20 $0.80
LINLinde6/4/246/4/246/18/244$1.39 $5.56
LOWLowe’s Companies7/24/247/24/248/7/244$1.15 $4.60
MCDMcDonald’s6/3/246/3/246/17/244$1.67 $6.68
MDTMedtronic6/28/246/28/247/12/244$0.70 $2.80
MKCMcCormick & Co4/5/244/8/244/22/244$0.42 $1.68
NDSNNordson5/20/245/21/246/4/244$0.68 $2.72
NEENextEra Energy6/3/246/3/246/17/244$0.51 $2.06
NUENucor3/27/243/28/245/10/244$0.54 $2.16
ORealty Income6/3/246/3/246/14/2412$0.26 $3.08
PEPPepsiCo6/7/246/7/246/28/244$1.36 $5.42
PGProcter & Gamble4/18/244/19/245/15/244$1.01 $4.03
PNRPentair7/19/247/19/248/2/244$0.23 $0.92
PPGPPG Indus5/9/245/10/246/12/244$0.65 $2.60
ROPRoper Techs4/4/244/5/244/22/244$0.75 $3.00
SHWSherwin-Williams5/16/245/17/246/7/244$0.71 $2.86
SJMJM Smucker5/16/245/17/246/3/244$1.06 $4.24
SPGIS&P Global5/29/245/29/246/12/244$0.91 $3.64
SWKStanley Black & Decker6/4/246/4/246/18/244$0.81 $3.24
SYYSysco7/5/247/5/247/26/244$0.51 $2.04
TGTTarget5/14/245/15/246/10/244$1.10 $4.40
TROWT. Rowe Price Gr6/14/246/14/246/27/244$1.24 $4.96
WMTWalmart8/16/248/16/249/3/244$0.21 $0.83
WSTWest Pharmaceutical Servs7/31/247/31/248/7/244$0.20 $0.80
XOMExxon Mobil5/14/245/15/246/10/244$0.95 $3.80
Prior Year Lists and Articles
Here are my recommendations:
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Prakash Kolli is the founder of the Dividend Power site. He is a self-taught investor, analyst, and writer on dividend growth stocks and financial independence. His writings can be found on Seeking Alpha, InvestorPlace, Business Insider, Nasdaq, TalkMarkets, ValueWalk, The Money Show, Forbes, Yahoo Finance, and leading financial sites. In addition, he is part of the Portfolio Insight and Sure Dividend teams. He was recently in the top 1.0% and 100 (73 out of over 13,450) financial bloggers, as tracked by TipRanks (an independent analyst tracking site) for his articles on Seeking Alpha.