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Stocks with 100+ Consecutive Years of Dividends

Stocks With 100+ Consecutive Years of Dividends

Investors consistency when it comes to dividend growth. There are currently no companies that have consistently paid growing dividends for 100 years or more. American States Water (AWR) comes the closest at 67 consecutive years of dividend increases. However, there are a select group of stocks that have paid 100+ years of uninterrupted or consecutive dividends. A few have even paid a dividend starting before 1900 and one company has paid a dividend for over 200 straight years.

Paying a dividend for this length of time demonstrates the resiliency of the business and management’s commitment to paying a consistent dividend. This list includes both US and Canadian Stocks. The Canadian stocks trade on the TSX and NYSE as an ADR. There are 23 US. companies and 6 Canadian companies (updated March 8, 2022). After this article was first published several more US and Canadian companies were added that had already paid a 100+ years of consecutive dividends.

Before the companies are listed, if you know of any companies that belong on the list of stocks with 100+ consecutive years of consistent dividends or should be removed from the list, please comment below.

Stocks with 100+ Consecutive Years of Dividends
Stocks with 100+ Consecutive Years of Consistent Dividends

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U.S. Stocks with 100+ Years of Consecutive Dividends

York Water Company

York Water Company (YORW) is the senior member of this club. The small water utility is the longest paying dividend stock, having paid a dividend continuously for over 200 years since 1816, which is when the utility was founded. The forward dividend rate is $0.75 per share and the forward dividend yield is about 1.67%. The dividend is covered by earnings with a payout ratio of roughly 59%. The company has a market capitalization of only ~$612 million. The company most recently raised the quarterly dividend payout by 4%, which is the 25th consecutive year of increases making the stock a Dividend Champion.

Stanley Black & Decker

Second on the list is Stanley Black & Decker (SWK), the hand-tool company. The company was founded in 1843 before the Civil War. Today the company’s business segments are Tool & Storage, Industrial, and Security. The consistent dividend history started over 100 years ago and has been paid since 1877 making the company one of the longest paying dividend stocks. Stanley Black & Decker is also a Dividend King having raised the dividend for 55 straight years. The forward dividend payout is $3.16 per share giving a forward dividend yield of about 1.95%. The payout ratio is a very conservative ~27%, and this is prudent due to the cyclicality of its business.

Exxon Mobil

Next on the list is Exxon Mobil (XOM), the oil and natural gas giant. Exxon Mobil traces its history back to John D. Rockefeller’s Standard Oil Trust, which was founded in 1870. The continuous dividend history dates back over 100 years to 1882. Exxon Mobil is a Dividend Champion and Dividend Aristocrat with 40 consecutive years of annual dividend increases. The past few years have been difficult for Exxon Mobil with low oil prices capped off by very low demand due to COVID-19 culminating in low dividend safety. Furthermore, debt is elevated. But oil prices and demand recovered and are now the highest in more than a decade. The forward dividend payout is $3.52 per share, and the forward dividend yield is 4.2%. The payout ratio is improved but still high at 65%.

Eli Lilly

Number four on the list is Eli Lilly (LLY), the large-cap pharma company founded in 1876. Eli Lilly is an R&D focused pharma company. The continuous dividend has been paid 100+ consecutive years since 1885. The company is not a consistent dividend grower with only 8 years in a row of dividend growth making the stock a Dividend Challenger. The forward dividend is $3.92 per share giving a dividend yield of ~1.5%. The payout ratio is a very reasonable 42%. The last dividend increase was ~15.3% to a quarterly rate of $0.98 per share from $0.85 per share.

Consolidated Edison

Consolidated Edison (ED) is the first electric utility on the list. The utility was founded in 1884. Today, Consolidated Edison is a regulated utility providing electricity to over 3.5 million customers and natural gas to over 1.1 million customers in New York City, southwestern New York, and northern New Jersey. The company first started paying a consistent dividend over 100 years ago in 1885. The company is also a Dividend Champion and Dividend Aristocrat with 48 years of consecutive years of dividend increases. The forward dividend is $3.16 per share, and the forward dividend yield is a decent 3.5%. The payout ratio is about 71%, which is reasonable for a regulated utility.

UGI

UGI (UGI) is probably not as well-known as the other companies on this list, but it was founded in 1882. UGI is a diversified energy company that operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. The company has approximately 1.5 million propane customers, 67,000 natural gas customers, and 62,500 electricity customers. UGI first paid a consistent dividend over 100 years ago in 1885. The forward dividend is $1.38 per share with a forward yield of 3.8%. The dividend payout ratio is conservative at 50%. The dividend has been raised for 35 straight years making UGI a Dividend Champion.

Johnson Controls

Johnson Controls International plc (JCI) is next on the list. Johnson Controls was founded in 1885. The company was previously known for its automotive parts business, which was spun off. Today Johnson Controls manufactures HVAC, refrigeration, security systems, and fire detection and suppression systems. The company has been paying a dividend consecutively since 1887 making it a member of 100+ years club. The forward annual dividend payout is $1.36 per share, and the forward yield is 2.16%. The payout ratio is conservative at 42%.

Proctor & Gamble

Proctor & Gamble (PG) is the 8th company on the list. The global consumer defensive company traces its history back to 1837. Proctor & Gamble operates in five segments: Beauty, Grooming, Health Care, Fabric & Home Care; and Baby, Feminine & Family Care. The company has many well-known brands including Pantene, Tide, Oil of Olay, Old Spice, Secret, Head & Shoulders, Herbal Essences, Gillette, Braun, Crest, Mr. Clean, etc. The company has paid dividends for over 100+ years since 1891. Proctor & Gamble is also a Dividend King having raised the dividend for 66 straight years. The forward annual dividend payout is $3.48 per share and the forward yield is 2.28%. The payout ratio is not too high at about 60.1%.

Colgate-Palmolive

The next company, Colgate-Palmolive (CL) is very similar to the one right before it on this list. Colgate-Palmolive was founded all the way back in 1806. Today, the company has four main market segments: Oral Care, Personal Care, Home Care, and Pet Nutrition. The company also has many well-known brands including Colgate, Palmolive, Tom’s of Maine, Speed Stick, Softsoap, Irish Spring, Ajax, etc. Colgate-Palmolive first started paying a consistent dividend in 1895 making it a member of the 100+ years club. The forward dividend rate is $1.80, and the forward yield is 2.33%. The dividend payout ratio is reasonably conservative at ~56%. The company is also a Dividend King with 59 years of consecutive dividend increases.

General Mills

General Mills (GIS) is a cereal and baking products giant tracing its founding back to 1866. Today, the company operates globally with well-known brands like Cheerios, Chex, Cascadian Farm, Bugles, Blue Buffalo, Betty Crocker, Bisquick, Annie’s, Fiber One, Taste Good, Pillsbury, Muir Glen, Progresso, Yoplait, Haagen-Dazs, Old El Paso, etc. General Mills first started paying a dividend continuously over 100 years ago in 1898. The forward dividend rate is $2.04, and the forward dividend yield is approximately 3.0%. The payout ratio was elevated a few years ago but has come done to a decent 55%. The company froze the dividend for a few years after the Blue Buffalo acquisition but started raising it again in 2020 as debt was paid, the balance sheet improved, and the leverage ratio came down.

Union Pacific

The only railroad on this list is Union Pacific. The company was founded in 1862. Today, Union Pacific is the largest public railroad in North America with over 32,000 miles of rail in its network, 7,700 locomotives, and 56,900 freight cars at end of 2020. Most of the network is located in 23 states in the western two-thirds of the U.S. and the railroad owns parts of a Mexican railroad. Union Pacific states that it has paid a consecutive dividend for 123 consecutive years in its press release or back to 1898. The forward dividend is $4.72 per share and the forward yield is 1.78%. The dividend payout ratio is a conservative 43%. Union Pacific has raised the dividend for 16 years straight making the stock a Dividend Contender. 

PPG Industries

PPG Industries (PPG) is an industrial giant focusing on coatings. The name stands for Pittsburgh Plate Glass. The company was founded in 1883 and today operates in two business segments: Performance Coatings and Industrial Coatings. PPG started paying a consecutive dividend for over 100 years since 1899. The forward dividend rate is $2.36, and the forward yield is 2.1%. The dividend payout ratio is a very conservative 33%, which likely due to the cyclicality of its business. The company is also a Dividend King with 51 years of consecutive dividend increases.

Church & Dwight

The 13th company on this list is another consumer defense one, Church & Dwight (CHD). The company was founded in 1846. Church & Dwight’s most well-known brand is Arm & Hammer, but it also owns OxiClean, Trojan, Nair, Spinbrush, First Response, Orajel, Waterpik, and a few other brands. Church & Dwight is much smaller than its consumer defensive peers on this list but started paying a consecutive dividend in 1901. The forward dividend is $1.05 giving a forward dividend yield of 1.03%. The payout ratio is very conservative at 33%. The company has raised the dividend annually for 26 consecutive years making it a Dividend Aristocrat and Dividend Champion.

Chubb

Chubb (CB) is the only insurer on this list. The company traces its history back to 1882. In 2015, ACE Limited, another insurance company founded in 1985, acquired Chubb and changed its name to Chubb. The original Chubb had paid a consecutive dividend for over 100+ years since 1902. The forward dividend payout is $3.20 per share giving a forward yield of 1.56%. The payout ratio is a very conservative 25.3%. Some investors may feel that Chubb should not be on the list since ACE Limited was the acquiring company. ACE Limited starting paying a dividend in 1993 and has paid a growing dividend for 29 years. But for now, we will leave the new Chubb on this list.

National Fuel Gas

National Fuel Gas (NFG) is another utility on this list. The company was incorporated in 1902 from assets placed in John D. Rockefeller’s Standard Oil Natural Gas Trust. National Fuel Gas recent press releases stated that the utility started to pay a dividend 119 years ago, which is how we became aware that this stock should in the club of companies paying a dividend consistently for 100+ years. This means the dividend was paid from incorporation. The forward dividend payout is $1.82 per share giving a forward yield of 3.47%. The payout ratio is about 38.5%, which is very conservative for a utility. National Fuel Gas has raised the dividend for 51 years in a row making this stock a Dividend King.

DuPont de Nemours

DuPont de Nemours (DD) traces its history back to 1802. The company went through a merger with Dow in 2015 forming DowDuPont followed by a split into three companies forming Corteva, Dow, and DuPont. The predecessor organization, E I Du Pont De Nemours, started paying a continuous dividend over 100+ years ago in 1904. The forward dividend is $1.32 per share giving a forward yield of 1.9%. The payout ratio is very conservative at 28.6%. As far as we can determine, DuPont did not stop paying a dividend after acquiring Dow or splitting into three companies. Since DuPont was the acquiring organization, we will keep DuPont de Nemours on this list.

Edison International

The second utility on this list is Edison International (EIX). The utility was founded in 1886. Today, it provides electricity for approximately 5 million customers in California. The utility has paid a dividend continuously for over 100+ years since 1910. The forward dividend is $2.80 per share giving a forward yield of 4.23%. The payout ratio is low for a utility at 58.7%. Edison International has raised the dividend for 19 straight years making it a Dividend Contender. As a note on Edison International, after we published this article it was pointed out that the utility did not pay a dividend from 2001 to 2003 on the common stock, although it may have on the preferred shares. We will do some more research on this.

Simmons First National

Simmons First National (SFNC) is a regional bank operating in Arkansas, Texas, Oklahoma, Kansas, Missouri, and Tennessee. The bank was founded in Pine Bluff, AR in 1903 with one branch. Today, the bank has about 199 financial centers (branches) with more than $25 billion in assets. The bank has grown organically and through multiple acquisitions. According to the banks website, it has paid a dividend for 113 years since 1909. The forward quarterly dividend rate is $0.19 per share and the forward dividend yield is 2.80%. The payout ratio is very conservative at about 28.5%. According to Portfolio Insight*, the bank has raised the dividend for 11 consecutive years making the stock a Dividend Contender.

American Electric Power

American Electric Power (AEP) is the third utility on this list. The utility was founded in 1906 and has now become one of the largest utilities in the U.S. Today it operates as a holding company through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments. AEP has operations in Ohio, Texas, Virginia, West Virginia, Tennessee, Indiana, Michigan, Kentucky, Oklahoma, Arkansas, and Louisiana. The utility’s press releases state that AEP has paid a continuous cash dividend every quarter since July 1910 or about 110 years. The forward dividend is $3.12 and the forward yield is about 3.21%. The payout ratio is a reasonable 63.3% for an utility. The utility has also raised the dividend for 13 straight years in a row making the stock a Dividend Contender.

International Business Machines

International Business Machines (IBM) was founded in 1911. Today, it is a leading provider of enterprise IT solutions. IBM operates in four operating segments: Cloud & Cognitive Software, Global Business Services, Global Technology Services, and Systems. IBM first paid a dividend in 1913 but the continuous streak started in 1916 making it over 100 years. The forward dividend rate is $6.56 per share giving a forward yield of 5.2%. The payout ratio is about 65.8%. IBM joined the Dividend Aristocrat list in 2021. The company has paid a growing dividend for 27 consecutive years.

Farmers & Mechants Bank of Long Beach

Farmers & Merchants Bank of Long Beach (FMBL) is the smallest company on this list. The market capitalization is only $1.02 billion. It is one of two US banks on this list. The bank was founded in 1907. It has paid a consistent dividend for 100+ years since 1916. The bank’s press release states that the quarterly dividend has never been decreased. The forward dividend is $28.00 per share giving a forward dividend yield of 1.38%. The payout ratio is roughly 15.8%, which is very, very conservative.

3M Company

3M Company (MMM) reportedly first started paying a dividend over 100 years ago according to its press releases announcing the quarterly dividend. The FAQs page sates that 3M has been paying a dividend since 1916. The industrial giant owns recognizable global brands including: Post-it, Scotch, Scotch-Brite, ACE, Command, Filtrete, Nexcare, and Futuro. The company has paid a growing dividend for 64 straight years making 3M a Dividend King. The forward dividend is $5.96 per share giving a forward dividend yield of 4.06%. The payout ratio has improved and is now ~58.5%.

Coca-Cola

A new entry to this exclusive club is Coca-Cola (KO), which was founded in 1886. The global non-alcoholic beverage giant owns many top brands including Coca-Cola, Diet Coke, Sprite, Minute Maid, Fanta, Fresca, Schweppes, Dasani, Thums Up, Fuze Tea, Gold Peak, Honest Tea, etc. Coca-Cola started paying a consistent dividend in 1920 and entered the 100+ consecutive years club in 2020. The forward dividend is $1.76 per share, and the forward yield is 2.88%.  The payout ratio is elevated at about 72.1%. Coca-Cola is a Dividend King with 60 straight years of dividend growth.


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Canadian Stocks with 100+ Consecutive Years of Dividends

Bank of Montreal

The first company on this list is the Bank of Montreal (BMO). The company traces its history back to 1817. Today, the bank is the fourth largest by revenue in Canada and also has some operations in the U.S. The Bank of Montreal has roughly 1,400 branches and 4,800 ATMs. The bank is the longest paying Canadian dividend stock and it has paid a consistent dividend for over 100 consecutive years since 1829. In fact BMO has paid a dividend for 192 years. The forward dividend is $4.20 per share, and the forward dividend yield is ~3.8%. The payout ratio is conservative at 32.4%. The Bank of Montreal is one of the Canadian Dividend Aristocrats.

Bank of Nova Scotia

The second bank on this list is the Bank of Nova Scotia (BNS) also known as Scotiabank. The bank was founded in 1832 and started to pay a continuous dividend the following year in 1833. Today, the bank is one the largest banks in the Americas with approximately $1.2 trillion CAD in assets (as of July 31, 2020). Scotiabank provides banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America. Scotiabank is also one of the Canadian Dividend Aristocrats. The forward payout is $3.16 per share and the forward yield is over 4.31%. The payout ratio is a conservative 44.8%.

Toronto-Dominion Bank

Toronto-Dominion Bank (TD) is the third of four Canadian banks on this list. The bank traces its founding to 1855 as the Bank of Toronto and 1869 as The Dominion Bank. The two banks merged in 1955. Today, it is the largest bank in Canada by assets and one the top 10 largest banks in North America due to its U.S. operations. The bank states that it has paid a consecutive divided for 164 continuous years or starting back in 1856. The TTM dividend is $2.59 per share and the TTM yield is over 3.42%. The payout ratio is a conservative 39.4%.Toronto-Dominion is a Canadian Dividend Aristocrat.

Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CM) is the second bank from Toronto, Canada on this list. The bank was founded in 1867 as the Canadian Bank of Commerce. In 1961, the bank merged with with the Imperial Bank of Canada, which was founded in 1875. Today, it is one of the four largest banks in Canada and it also has large U.S. operations. The bank’s website states that it has not missed a dividend since 1868 making it a member of the 100+ years club. The Canadian Imperial Bank of Commerce is also a Dividend Aristocrat. The forward dividend is $5.00 per share and the forward yield is ~ 4.0%. The payout ratio is about 39.5%.

BCE

BCE (BCE) is the leading telecom provider in Canada. The company was founded in 1880. Today, BCE has over 13 million customers providing service for wireless, cable TV, broadband, and telephone. The company also owns TV stations, radio stations, websites, and video streaming services. The company operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The company started paying a consecutive dividend the year after it was founded in 1881. The TTM dividend is $2.87 per share giving a yield of 5.14%. The payout ratio is high at about 108.3%. BCE is one of the Canadian Dividend Aristocrats.

Imperial Oil

Imperial Oil (IMO) is the third company on the Canadian list. Imperial Oil was founded in 1880 as a competitor to John D. Rockefeller’s Standard Oil. Imperial Oil was acquired by Standard Oil in 1895. Today, the company is a subsidiary of Exxon Mobil, which owns 69.6%. The company operates in three business segments: Upstream, Downstream, and Chemical with operations in both oil and natural gas. Imperial Oil started paying a continuous dividend in the 1880s. I am unable to determine the exact date the dividend started but it is clearly over 100 years. The TTM dividend is $0.82 per share giving a TTM yield of 1.79%. The payout ratio is very conservative at 29.1%. Imperial Oil is one of the Canadian Dividend Aristocrats.

Other Dividend Stock Lists

I have also written articles with several other lists and analyses on U.S. dividend growth stocks including:

For Canadian stocks, I have written about

For UK stocks, I have written about

Final Thoughts on Stocks with 100+ Consecutive Years of Dividends

The list of longest dividend paying companies that have attained 100+ years of consecutively paying dividends is short and select. There are only 23 US companies and 6 Canadian companies that have done so. This is about 0.37% out of the over 6,000 companies list on U.S. exchanges (NYSE and NASDQ) and 0.38% out of over 1,600 companies listed on the TSX. This makes the list even more selective than the Dividend Kings or Canadian Dividend Aristocrats. It is interesting but not surprising to note that the majority of the companies on this list are also dividend growth stocks and a few are Dividend Kings. This list serves as a starting point for further research.

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2 thoughts on “Stocks With 100+ Consecutive Years of Dividends

  1. Simmons First National Corporation (Nasdaq: SFNC) is a Mid-South based financial holding company whose principal subsidiary, Simmons Bank, operates approximately 200 financial centers in Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas. Found in 1903, Simmons has paid dividends for 113 consecutive years.

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