2025 Dividend Champions

The 2025 Dividend Champions: Updates, Performance, and Analysis

This article provides an updated list of the Dividend Champions in 2025, select financial data and analysis. The list and data are updated monthly.

The Dividend Champions 2025 companies on United States stock exchanges have raised their dividend for 25+ consecutive years. This list is a select list of only 133 companies. This number is from nearly 6,000 companies listed on the New York Stock Exchange (NYSE) and NASDAQ in 2025, indicating a success rate of approximately 2.22%.

This list is not one of the best or top Dividend Champions. Instead, it is an informational source to assist in making investment decisions. Lastly, the Dividend Champions list was first created in 2008 by David Fish (deceased in 2018). He originally started the list in the Dividend Investing Resource Center.


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Market Update for the 2025 Dividend Champions

The Dividend Champions 2025 are currently trading at an elevated valuation of a trailing average price-to-earnings ratio of about 23.79X. This multiple is down from its peak of more than 31X in May 2021. 

The current average dividend yield is about 2.82%. The average trailing 10-year dividend growth rate is about 6.71%, and the average past 5-year dividend growth rate is around 6.07%. On average, the payout ratio is approximately 61.91%. The mean market cap is currently $52,742 million. 

Currently, the Dividend Champion with the highest yield is Universal Health Realty (UHT), and the one trading with the lowest earnings multiple is BankOZK (OZK). 

The updated, selected financial data and the dividend earnings calendar for each stock in the Dividend Champions list are in the tables below. The most recent dividend increases are also available to search.

According to Stock Rover*, in the trailing 1-year, the Dividend Champions 2025 have returned +8.9% (blue line) compared to +11.7% for the S&P 500 Index (red line), as seen in the chart below. Over the trailing 5-years, this group of stocks has returned +79.0%, and the S&P 500 has returned +114.2%.

Dividend Champions 2025 Trailing 1-Year Returns
Source: Stock Rover*

List of Dividend Champions in 2025

Stock Rover* and Portfolio Insight* were used to create this table. Sign up to either one to gain access to data, charts, and screeners.

TickerCompany NameNo. YearsDividend Yield (%)10-yr Dividend Growth Rate (%)Payout Ratio (%)TTM P/E RatioMarket Cap (millions)
ABMABM Indus582.405.2077.8036$2,797
ADMArcher-Daniels-Midland503.906.2070.5018.3$24,983
ADPAutomatic Data Processing502.0012.1059.9031.4$124,545
AFLAflac432.3011.5032.2015.9$55,243
ALBAlbemarle312.703.40n/an/a$7,144
ALRSAlerus Financial263.907.2076.9020.3$531
ANDEAndersons292.103.4024.1011.5$1,246
AOSA.O. Smith322.1013.6036.7017.8$9,067
APDAir Products432.608.30102.9040.3$62,394
AROWArrow Finl324.403.8064.7014.9$422
ARTNAArtesian Resources333.703.5057.4016.2$349
ATOAtmos Energy412.308.4046.5021.4$24,300
ATRAptarGroup321.204.9031.5027.6$9,982
AWRAmerican States Water712.408.1056.2024$3,026
BANFBancFirst321.5010.5027.0018.2$3,985
BDXBecton Dickinson532.405.7076.8033.3$49,356
BENFranklin Resources455.807.90182.6032.2$11,650
BF.BBrown-Forman413.406.0042.1014.4$12,485
BKHBlack Hills554.805.3067.3014.6$4,168
BMIBadger Meter330.6013.6028.2053.5$7,149
BRCBrady401.401.8023.4016.8$3,215
BROBrown & Brown310.6010.6015.5029.7$34,747
CASYCasey's General Stores260.509.6013.4034.6$18,426
CATCaterpillar311.707.3026.8017.4$167,925
CBChubb321.403.4017.4013.8$114,930
CBSHCommerce Bancshares571.807.1026.2015.1$8,096
CBUCommunity Financial Sys333.304.4050.7015.3$2,913
CFRCullen/Frost Bankers313.206.6041.3013.6$8,024
CHDChurch & Dwight Co291.205.8048.8041.7$23,911
CHRWC.H. Robinson Worldwide272.705.0058.4022.3$11,106
CINFCincinnati Financial652.406.6035.6016$22,876
CLColgate-Palmolive622.303.2056.3025.6$73,148
CLXClorox484.005.1086.6022.1$15,168
CNICanadian National Railway302.5011.0065.8019.9$65,281
CSLCarlisle Companies491.1014.9014.1019.9$15,476
CTASCintas410.7019.5034.3051.6$89,796
CTBICommunity Trust Bancorp453.704.6039.0010.6$915
CVXChevron384.704.8075.2016.7$252,749
CWTCalifornia Water Servs Gr582.606.0050.2020.5$2,777
DCIDonaldson391.805.0035.6023$7,965
DOVDover701.202.6012.3023.5$24,273
EBTCEnterprise Bancorp302.508.0029.6012.2$497
ECLEcolab331.007.0032.9036$74,906
EDConsolidated Edison513.302.7061.4019.2$37,775
EMREmerson Electric681.701.2050.0036.2$70,616
ENBEnbridge295.907.30187.0023.6$102,062
EPDEnterprise Prods Partners286.703.6078.7012$69,513
ERIEErie Indemnity351.507.2049.7030.4$18,654
ESEversource Energy274.606.10127.1028.6$24,254
ESSEssex Property Trust313.606.0094.8027.3$18,315
EXPDExpeditors International311.407.9024.1019$15,755
FASTFastenal262.1012.1079.6042.2$48,379
FDSFactSet Research Systems271.109.6029.2029.9$15,971
FELEFranklin Electric331.3010.5026.2022.1$3,857
FRTFederal Realty Investment584.602.40126.2027.4$8,219
FULH.B. Fuller561.706.1043.6027.3$2,935
GDGeneral Dynamics342.108.1039.5019.7$75,956
GGGGraco281.3010.6036.0029.5$13,962
GPCGenuine Parts693.405.3066.1019.7$16,610
GWWW.W. Grainger540.906.8021.0027.3$51,124
HRLHormel Foods593.808.8084.2022.5$16,815
HTOH2O America263.208.0054.0017.7$1,811
IBMIBM302.402.60112.8047.4$257,647
ITWIllinois Tool Works622.5012.0051.8021.3$70,842
JKHYJack Henry & Associates341.308.8037.9030.5$13,041
JNJJohnson & Johnson633.305.7054.8017.5$377,994
KMBKimberly-Clark533.903.7066.8017.8$43,823
KOCoca-Cola632.904.4078.6028.5$307,862
LANCLancaster Colony632.307.5060.1027.3$4,615
LECOLincoln Electric Holdings301.5010.0035.7024.8$11,236
LINLinde321.307.7040.9033.8$220,047
LOWLowe's Companies632.2017.5038.0018$121,766
MATWMatthews International304.606.8044.70n/a$677
MCDMcDonald's502.407.6060.4026.7$215,875
MDTMedtronic483.308.7084.6024.2$111,874
MGEEMGE Energy502.104.8050.2024.8$3,228
MGRCMcGrath RentCorp331.706.9019.7011.8$2,799
MKCMcCormick & Co262.408.4058.6025.5$19,850
MOAltria Group556.907.0067.8010$99,028
MSAMSA Safety541.305.2028.1022.4$6,374
NDSNNordson621.5013.5038.6027.6$12,113
NEENextEra Energy313.0011.4078.8028$155,188
NFGNational Fuel Gas552.503.00438.30n/a$7,603
NJRNew Jersey Resources304.007.2042.7010.8$4,479
NNNNNN REIT365.503.30106.7019.8$7,972
NUENucor521.804.0038.4021.5$28,133
NWFLNorwood Financial254.904.102016.70n/a$234
NWNNorthwest Natural Hldg694.900.5077.6015.8$1,601
ORealty Income325.603.50287.6052.4$52,301
ORIOld Republic Intl443.104.6034.6012.2$9,236
OZKBank OZK293.9012.3026.407.3$5,031
PBProsperity Bancshares273.407.8043.5012.9$6,443
PEPPepsiCo534.407.3079.5019.2$179,405
PGProcter & Gamble692.604.8062.4025.5$375,783
PHParker Hannifin691.1011.1024.7025.2$83,578
PIIPolaris306.602.40368.1057.1$2,322
PPGPPG Indus542.606.6057.2018.8$24,278
RBCAARepublic Bancorp272.709.2027.5011.3$1,331
RGCORGC Resources254.104.9063.1015.9$209
RLIRLI500.905.4019.1024.1$6,704
RNRRenaissanceRe Holdings300.702.905.007.8$11,889
ROPRoper Technologies320.6012.7022.0040.5$60,289
RPMRPM Intl511.907.0038.7021.7$13,879
RTXRTX321.900.6073.3042.7$194,635
SBSISouthside Bancshares305.105.4049.309.6$857
SCLStepan572.807.9061.8022.2$1,237
SEICSEI Investments341.207.4020.3018.1$10,331
SHWSherwin-Williams470.9013.5027.4031.8$84,171
SJMJM Smucker284.505.4043.06n/a$10,186
SONSonoco Prods434.804.20134.2054.1$4,431
SPGIS&P Global520.8011.3028.9039.4$153,798
SRCE1st Source382.608.8025.0010.5$1,465
SWKStanley Black & Decker585.004.70134.6027.6$10,227
SYKStryker320.909.3043.7051$144,190
SYYSysco552.905.4052.6019.2$36,012
TGTTarget584.708.0048.9010.5$43,332
THFFFirst Financial374.007.6041.6011.1$606
TMPTompkins Finl394.104.0047.6011.8$878
TNCTennant531.604.0031.6020.8$1,392
TRTootsie Roll Industries591.104.5029.0027.4$2,035
TROWT. Rowe Price Group395.609.3056.5010.4$20,176
UBSIUnited Bankshares504.201.5054.6013.1$5,004
UGIUGI374.205.6061.7014.9$7,682
UHTUniversal Health Realty407.201.50215.4030.3$565
UMBFUMB Financial331.605.5019.8012.7$7,644
UVVUniversal545.404.5063.8016$1,491
WABCWestamerica Bancorp333.901.9035.309.4$1,229
WLYJohn Wiley & Sons263.702.00187.7051$2,052
WMTWalmart521.003.7036.5040.3$753,670
WSTWest Pharmaceutical Servs320.406.7012.8034.8$15,943
WTRGEssential Utilities343.407.0057.6017.1$10,666
XOMExxon Mobil433.503.1051.5014.9$483,196
YORWYork Water282.703.9062.8023.6$464

Dividend Calendar for the Dividend Champions 2025

Stock Rover* and Portfolio Insight* were used to create this table. Sign up to track your dividends and income.

TickerCompanyEx-Dividend DateDividend Record DateDividend Payment DateDividend FrequencyNext Dividend Payment Per ShareForward Dividend Per Share
ABMABM Indus7/3/257/3/258/4/254$0.26 $1.06
ADMArcher-Daniels-Midland5/21/255/21/256/11/254$0.51 $2.04
ADPAutomatic Data Processing6/13/256/13/257/1/254$1.54 $6.16
AFLAflac5/21/255/21/256/2/254$0.58 $2.32
ALBAlbemarle6/13/256/13/257/1/254$0.41 $1.62
ALRSAlerus Financial6/27/256/27/257/11/254$0.21 $0.81
ANDEAndersons4/1/254/1/254/22/254$0.19 $0.78
AOSA.O. Smith4/30/254/30/255/15/254$0.34 $1.36
APDAir Products7/1/257/1/258/11/254$1.79 $7.16
AROWArrow Finl5/13/255/13/255/23/254$0.28 $1.12
ARTNAArtesian Resources5/16/255/16/255/27/254$0.31 $1.23
ATOAtmos Energy5/27/255/27/256/9/254$0.87 $3.48
ATRAptarGroup5/1/255/1/255/22/254$0.45 $1.80
AWRAmerican States Water5/19/255/19/256/3/254$0.47 $1.86
BANFBancFirst6/30/256/30/257/15/254$0.46 $1.84
BDXBecton Dickinson6/9/256/9/256/30/254$1.04 $4.16
BENFranklin Resources6/27/256/27/257/11/254$0.32 $1.28
BF.BBrown-Forman6/9/256/9/257/1/254$0.23 $0.91
BKHBlack Hills5/16/255/16/256/1/254$0.68 $2.70
BMIBadger Meter5/23/255/23/256/6/254$0.34 $1.36
BRCBrady7/10/257/10/257/31/254$0.24 $0.96
BROBrown & Brown5/12/255/12/255/21/254$0.15 $0.60
CASYCasey's General Stores8/1/258/1/258/15/254$0.57 $2.28
CATCaterpillar7/21/257/21/258/20/254$1.51 $6.04
CBChubb6/13/256/13/257/3/254$0.97 $3.88
CBSHCommerce Bancshares6/6/256/6/256/24/254$0.28 $1.10
CBUCommunity Financial Sys6/13/256/13/257/10/254$0.46 $1.84
CFRCullen/Frost Bankers5/30/255/30/256/13/254$1.00 $4.00
CHDChurch & Dwight Co5/15/255/15/256/2/254$0.29 $1.18
CHRWC.H. Robinson Worldwide6/6/256/6/257/1/254$0.62 $2.48
CINFCincinnati Financial6/23/256/23/257/15/254$0.87 $3.48
CLColgate-Palmolive7/18/257/18/258/15/254$0.52 $2.08
CLXClorox4/23/254/23/255/9/254$1.22 $4.88
CNICanadian National Railway6/9/256/9/256/30/254$0.65 $2.59
CSLCarlisle Companies5/19/255/19/256/2/254$1.00 $4.00
CTASCintas5/15/255/15/256/13/254$0.39 $1.56
CTBICommunity Trust Bancorp6/13/256/15/257/1/254$0.47 $1.88
CVXChevron5/19/255/19/256/10/254$1.71 $6.84
CWTCalifornia Water Servs Gr5/12/255/12/255/23/254$0.30 $1.20
DCIDonaldson6/16/256/16/256/30/254$0.30 $1.20
DOVDover5/30/255/30/256/16/254$0.51 $2.06
EBTCEnterprise Bancorp5/12/255/12/256/2/254$0.25 $1.00
ECLEcolab6/17/256/17/257/15/254$0.65 $2.60
EDConsolidated Edison5/14/255/14/256/16/254$0.85 $3.40
EMREmerson Electric5/16/255/16/256/10/254$0.53 $2.11
ENBEnbridge5/15/255/15/256/1/254$0.69 $2.74
EPDEnterprise Prods Partners4/30/254/30/255/14/254$0.54 $2.14
ERIEErie Indemnity7/8/257/8/257/22/254$1.37 $5.46
ESEversource Energy5/15/255/15/256/30/254$0.75 $3.01
ESSEssex Property Trust6/30/256/30/257/15/254$2.57 $10.28
EXPDExpeditors International6/2/256/2/256/16/252$0.77 $1.54
FASTFastenal4/25/254/25/255/23/254$0.22 $0.88
FDSFactSet Research Systems5/30/255/30/256/18/254$1.10 $4.40
FELEFranklin Electric5/8/255/8/255/22/254$0.26 $1.06
FRTFederal Realty Investment7/1/257/1/257/15/254$1.10 $4.40
FULH.B. Fuller4/29/254/29/255/13/254$0.23 $0.94
GDGeneral Dynamics7/3/257/3/258/8/254$1.50 $6.00
GGGGraco7/21/257/21/258/6/254$0.28 $1.10
GPCGenuine Parts6/6/256/6/257/2/254$1.03 $4.12
GWWW.W. Grainger5/12/255/12/256/1/254$2.26 $9.04
HRLHormel Foods7/14/257/14/258/15/254$0.29 $1.16
HTOH2O America5/12/255/12/256/2/254$0.42 $1.68
IBMIBM5/9/255/9/256/10/254$1.68 $6.72
ITWIllinois Tool Works6/30/256/30/257/11/254$1.50 $6.00
JKHYJack Henry & Associates5/29/255/29/256/18/254$0.58 $2.32
JNJJohnson & Johnson5/27/255/27/256/10/254$1.30 $5.20
KMBKimberly-Clark6/6/256/6/257/2/254$1.26 $5.04
KOCoca-Cola6/13/256/13/257/1/254$0.51 $2.04
LANCLancaster Colony6/6/256/6/256/30/254$0.95 $3.80
LECOLincoln Electric Holdings6/30/256/30/257/15/254$0.75 $3.00
LINLinde6/4/256/4/256/18/254$1.50 $6.00
LOWLowe's Companies7/23/257/23/258/6/254$1.20 $4.80
MATWMatthews International5/12/255/12/255/26/254$0.25 $1.00
MCDMcDonald's6/2/256/2/256/16/254$1.77 $7.08
MDTMedtronic6/27/256/27/257/11/254$0.71 $2.84
MGEEMGE Energy5/30/256/1/256/15/254$0.45 $1.80
MGRCMcGrath RentCorp7/17/257/17/257/31/254$0.49 $1.94
MKCMcCormick & Co4/7/254/7/254/21/254$0.45 $1.80
MOAltria Group6/16/256/16/257/10/254$1.02 $4.08
MSAMSA Safety5/15/255/15/256/10/254$0.53 $2.12
NDSNNordson6/18/256/19/257/3/254$0.78 $3.12
NEENextEra Energy6/2/256/2/256/16/254$0.57 $2.27
NFGNational Fuel Gas6/30/256/30/257/15/254$0.54 $2.14
NJRNew Jersey Resources6/10/256/10/257/1/254$0.45 $1.80
NNNNNN REIT4/30/254/30/255/15/254$0.58 $2.32
NUENucor6/30/256/30/258/11/254$0.55 $2.20
NWFLNorwood Financial4/15/254/15/255/1/254$0.31 $1.24
NWNNorthwest Natural Hldg4/30/254/30/255/15/254$0.49 $1.96
ORealty Income7/1/257/1/257/15/2512$0.27 $3.23
ORIOld Republic Intl6/6/256/6/256/16/254$0.29 $1.16
OZKBank OZK4/14/254/14/254/21/254$0.43 $1.72
PBProsperity Bancshares6/13/256/13/257/1/254$0.58 $2.32
PEPPepsiCo6/6/256/6/256/30/254$1.42 $5.69
PGProcter & Gamble4/21/254/21/255/15/254$1.06 $4.23
PHParker Hannifin5/9/255/9/256/6/254$1.80 $7.20
PIIPolaris6/2/256/2/256/16/254$0.67 $2.68
PPGPPG Indus5/12/255/12/256/12/254$0.68 $2.72
RBCAARepublic Bancorp6/20/256/20/257/18/254$0.45 $1.80
RGCORGC Resources7/18/257/18/258/1/254$0.21 $0.83
RLIRLI5/30/255/30/256/20/254$0.16 $0.64
RNRRenaissanceRe Holdings6/13/256/13/256/30/254$0.40 $1.60
ROPRoper Technologies7/8/257/8/257/22/254$0.82 $3.30
RPMRPM Intl4/17/254/17/254/30/254$0.51 $2.04
RTXRTX5/23/255/23/256/12/254$0.68 $2.72
SBSISouthside Bancshares5/22/255/22/256/5/254$0.36 $1.44
SCLStepan5/30/255/30/256/13/254$0.38 $1.54
SEICSEI Investments6/9/256/9/256/17/252$0.49 $0.98
SHWSherwin-Williams5/16/255/16/256/6/254$0.79 $3.16
SJMJM Smucker5/16/255/16/256/2/254$1.08 $4.32
SONSonoco Prods5/9/255/9/256/10/254$0.53 $2.12
SPGIS&P Global5/28/255/28/256/11/254$0.96 $3.84
SRCE1st Source5/5/255/5/255/15/254$0.38 $1.52
SWKStanley Black & Decker6/3/256/3/256/17/254$0.82 $3.28
SYKStryker6/30/256/30/257/31/254$0.84 $3.36
SYYSysco7/3/257/3/257/25/254$0.54 $2.16
TGTTarget8/13/258/13/259/1/254$1.14 $4.50
THFFFirst Financial4/1/254/1/254/15/254$0.51 $2.04
TMPTompkins Finl5/9/255/9/255/16/254$0.62 $2.48
TNCTennant5/30/255/30/256/16/254$0.29 $1.18
TRTootsie Roll Industries6/18/256/19/257/10/254$0.09 $0.36
TROWT. Rowe Price Group6/13/256/13/256/27/254$1.27 $5.08
UBSIUnited Bankshares6/13/256/13/257/1/254$0.37 $1.48
UGIUGI6/16/256/16/257/1/254$0.38 $1.50
UHTUniversal Health Realty6/23/256/23/256/30/254$0.74 $2.96
UMBFUMB Financial6/10/256/10/257/1/254$0.40 $1.60
UVVUniversal7/14/257/14/258/4/254$0.82 $3.28
WABCWestamerica Bancorp5/5/255/5/255/16/254$0.46 $1.84
WLYJohn Wiley & Sons4/8/254/8/254/24/254$0.35 $1.41
WLYBJohn Wiley & Sons4/8/254/8/254/24/254$0.35 $1.41
WMTWalmart8/15/258/15/259/2/254$0.23 $0.94
WSTWest Pharmaceutical Servs7/30/257/30/258/6/254$0.21 $0.84
WTRGEssential Utilities5/13/255/13/256/2/254$0.33 $1.30
XOMExxon Mobil5/15/255/15/256/10/254$0.99 $3.96
YORWYork Water6/30/256/30/257/15/254$0.22 $0.88

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Promotions to Dividend Kings in 2024

In 2023, four Dividend Champions were promoted to the Dividend Kings list. These stocks achieved a 50-year mark for consecutive annual dividend increases. These companies were Nucor Corporation (NUE), RPM International (RPM), S&P Global (SPGI), and Walmart (WMT).

Additions to the Dividend Champions in 2024

In 2024, McCormick & Company (MKC), Norwood Financial (NWFL), RGC Resources (RGCO), and John Wiley & Sons (WLY) were added to the list of Dividend Champions.

McCormick & Company is the leading producer of spices, seasonings, and flavorings.

Norwood Financial is small bank operating in northeastern Pennsylvania and parts of New York.

RGC Resources is a natural gas utility in Roanoke, Virginia.

John Wiley & Sons sells books, journals, and online content.

Deletions to the Dividend Champions in 2024

In 2024, at least three companies fell off the list. 3M Company (MMM) cut its dividend because of lawsuits and divesting its healthcare segment. It ended a 66-year streak. Second, Leggett & Platt (LEG) cut its dividend after years of lower revenue, earnings per share, and rising debt. Lastly, Telephone and Data Systems (TDS) cut its dividend because of competition in its fiber and cellular businesses.

A few other companies may have also dropped off the list such as and W. P. Carey (WPC).

Other Dividend Stock Lists

The other U.S. stock lists are:

For Canadian stocks, we have an article on

For UK stocks, we have an article on

Other dividend stock lists

FAQs About the 2025 Dividend Champions

What do I like About the Dividend Champions 2025?

The Dividend Champions 2025 list is a screen for further investigating stocks for a dividend growth portfolio. It is a list of companies with stable businesses that have competitive advantages and have returned cash to shareholders consistently through dividends and, in some cases, buybacks over an extended period.

Over -The-Counter Stocks Increase the Number

The number of Dividend Champions increases if we include over-the-counter (OTC) stocks. As a result, the total universe of U.S. stocks goes up to about 12,000. Several small banks and other equities are not traded on the NYSE or NASDAQ and are thus not included in this list. For example, Farmers & Merchants Bancorp (FMBC) has raised its dividend for 50 years. However, the stock is thinly traded on the OTC market. Another example is Eagle Financial Services (EFSI), which has raised the dividend for 35 years but is also a thinly traded on the OTC market. There are higher risks with thinly traded stocks, and we do not include them in this list.

In addition, the list changes slowly. However, even during extreme economic duress, such as the COVID-19 pandemic, only a handful of companies dropped off the list each year. This fact points to the resiliency of the businesses on the Dividend Champions 2025 list and management’s commitment to the dividend.


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What are the Differences Between the Dividend Champions and Dividend Aristocrats

The Dividend Champion 2025 list is broader and more comprehensive than the Dividend Aristocrat list. A stock must only meet the requirement for raising the dividend for 25+ years to be added to the Dividend Champions List. However, the criteria for inclusion as a Dividend Aristocrat is stricter. In addition to the 25+ years of dividend increases, a stock must be a part of the S&P 500 Index, have a minimum market capitalization of $3 billion, and meet trading volume and sector weighting requirements.

Hence, a stock can be a Dividend Champion but not a Dividend Aristocrat.

What are the Differences Between Dividend Champions and Dividend Kings

The Dividend Kings are more exclusive than the Dividend Champions. To become a Dividend King, a stock must raise its dividend for 50+ consecutive years, a much harder achievement. However, a company can be a Dividend King, a Dividend Champion, and a Dividend Aristocrat. For instance, The Coca-Cola Company (KO) is found on all three lists. 

Two MLPs and Six REITs Are on the Dividend Champions 2025 List

The 2025 Dividend Champions list contains many banks, utilities, consumer defensive, and industrial companies. 

The list includes two Master Limited Partnerships (MLPs): Enbridge (ENB) and Enterprise Products Partners (EPD).

The Dividend Champions list has six Real Estate Investment Trusts (REITs): Essex Property Trust (ESS), Federal Realty Investment (FRT), National Retail Properties (NNN), Realty Income (O), and Universal Health Realty (UHT).

In addition, W.P. Carey will fall off the list in 2025 because it reduced the quarterly payout.

Related Articles About REITs on Dividend Power

What is the Sector and Industry Breakdown?

Companies from the Financial sector have the most significant representation on the Dividend Champions 2025 list, with 32 companies, followed by the Industrial sector, with 27 companies. The Consumer Defensive sector has 20, and Utilities has 16 Companies. The lowest representation is from the Communications Services sector, with one company.

Sector Analysis

Financials tend to have stable and generally rising earnings over time. There are 19 regional banks, six insurance companies, three asset managers, and two financial data & two stock exchanges on the list of Dividend Champions. Regional banks are often conservative; they have room to expand, allowing for earnings per share and dividend growth. Insurance and asset manager companies have sticky customers and grow with time.

Industrial companies tend to have somewhat more volatile earnings and cash flows, but many have conservative payout ratios, allowing them to grow dividends during recessions and economic downturns. The list includes ten specialty industrial machinery companies and one conglomerate.

Consumer Defensive companies tend to have predictable earnings and cash flows that grow slowly with time. Many did well during the COVID-19 pandemic. Larger companies in this sector tend to acquire smaller ones, leading to industry consolidation. Five household & personal products companies and four packaged food companies are on the list, including several well-known ones.

Industry Analysis

Market Size of the Dividend Champions 2025

Large-cap companies do not dominate the list, which includes quite a few mid-cap ($2 billion – $10 billion) and small-cap ($300 million – $2 billion) companies.

Walmart (WMT) is the largest dividend champion by market capitalization, and RGC Resources (RGCO) is the smallest. As mentioned before, the list does not include some small OTC stocks.

Who’s On Deck?

At the start of the year, several companies on the Dividend Contender List have raised the dividend for 24 years. This number includes Brown-Forman (BF.A), Fastenal (FAST), Norwood Financial (NWFL), RGC Resources (RGCO), and John Wiley & Sons (WLY). These stocks will become Dividend Champions, assuming they raise their dividend in 2025.

Prior Year Lists and Articles


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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.

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