dividend aristocrats

The List of Dividend Aristocrats 2024

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 2.4%, and the average forward price-to-earnings ratio is approximately 20.3X. 

The mean market capitalization is roughly $100,160 million, and the median is approximately $48,448 million. The market cap ranges between about $9,009 million and $658,168 million. The total market capitalization is roughly $6,610,584 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 +25.8% (blue line) compared to +38.8% 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 +80.8%, and the S&P 500 Index has returned +102.4%.

1-Year Dividend Aristocrat Returns
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 10.62% over the past decade and a standard deviation of 14.78%. On the other hand, the benchmark (the S&P 500 Index) had annualized total returns of 9.79% and a standard deviation of 15.26%. 

Over the past 5-years, the Dividend Aristocrats had an annualized total return of 10.12% with a standard deviation of 17.85%. The benchmark had an annualized total return of 15.27% and a standard deviation of 18.06%.

Dividend Aristocrats 10-year Total Returns
Source: S&P Dow Jones Indices

The table below shows the calendar year’s performance from 2014 to 2023.

Dividend Aristocrats Return by Year
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.

3M Removed from Dividend Aristcrats

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.

Changes to the Dividend Aristocrats 2024

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.

Dividend Aristocrat Sector Breakdown
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.

TickerCompanySectorIndustryDividend YieldEPS 5-Year Avg (%)Dividend 5-Year Avg (%)Dividend 10-Year Avg (%)Payout RatioDebt / EquityBeta 3-YearPrice / EarningsCap ($M USD)
ABBVAbbVieHealthcareDrug Manufacturers - General3.20%5.70%7.70%13.90%202.00%10.40.370.9$360,104
ABTAbbott LaboratoriesHealthcareMedical Devices1.90%11.50%11.40%9.60%66.50%0.40.6834.5$197,252
ADMArcher-Daniels MidlandConsumer DefensiveFarm Products3.60%19.00%7.40%7.60%37.80%0.50.5711$26,398
ADPAutomatic Data ProcessingTechnologySoftware - Application1.90%10.90%12.10%11.30%59.60%0.80.8330.9$117,923
AFLAflacFinancial ServicesInsurance - Life1.90%18.50%13.10%10.50%19.30%0.30.6315.6$58,338
ALBAlbemarleBasic MaterialsSpecialty Chemicals1.70%- 2.00%3.90%- 0.31.56- $10,880
AMCRAmcorConsumer CyclicalPackaging & Containers4.50%6.90%- - 98.50%1.90.7722$16,086
AOSA.O. SmithIndustrialsSpecialty Industrial Machinery1.80%9.60%7.20%16.30%33.50%0.10.9319.8$10,889
APDAir Products & ChemicalsBasic MaterialsSpecialty Chemicals2.30%7.70%8.80%8.70%60.90%10.7327$69,035
ATOAtmos EnergyUtilitiesUtilities - Regulated Gas2.30%9.20%8.90%8.10%46.60%0.70.4620.5$21,543
BDXBecton DickinsonHealthcareMedical Instruments & Supplies1.60%4.80%4.30%5.70%77.50%0.80.4846.7$67,733
BENFranklin ResourcesFinancial ServicesAsset Management6.00%-7.30%3.60%10.00%75.90%1.11.2312.9$10,862
BF.BBrown-FormanConsumer DefensiveBeverages - Wineries & Distilleries2.00%3.20%5.60%6.50%41.30%0.90.621.3$20,702
BROBrown & BrownFinancial ServicesInsurance Brokers0.60%21.20%10.20%10.00%14.10%0.60.8428.5$29,922
CAHCardinal HealthHealthcareMedical Distribution1.90%- 1.00%4.00%57.70%- 0.4231.5$26,257
CATCaterpillarIndustrialsFarm & Heavy Construction Machinery1.50%15.70%6.50%7.30%23.60%2.20.917.5$182,418
CBChubbFinancial ServicesInsurance - Property & Casualty1.30%25.20%3.90%3.40%14.40%0.30.5411.6$113,850
CHDChurch & Dwight CoConsumer DefensiveHousehold & Personal Products1.10%5.80%4.50%6.20%33.90%0.50.330.9$24,459
CHRWC.H. Robinson WorldwideIndustrialsIntegrated Freight & Logistics2.40%-10.30%4.40%5.90%87.50%1.30.6435.7$12,084
CINFCincinnati FinancialFinancial ServicesInsurance - Property & Casualty2.30%28.40%7.70%6.30%16.20%0.10.757.2$22,010
CLColgate-PalmoliveConsumer DefensiveHousehold & Personal Products2.10%5.20%3.10%3.30%56.20%19.40.3327$76,562
CLXCloroxConsumer DefensiveHousehold & Personal Products3.10%-14.40%2.90%5.10%166.80%48.10.3555$19,625
CTASCintasIndustrialsSpecialty Business Services0.80%13.50%- 22.10%34.80%0.70.9252.1$83,002
CVXChevronEnergyOil & Gas Integrated4.40%7.70%6.50%4.30%62.00%0.20.5414.7$270,070
DOVDoverIndustrialsSpecialty Industrial Machinery1.10%19.40%1.00%2.60%18.20%0.60.9717.2$25,974
ECLEcolabBasic MaterialsSpecialty Chemicals0.90%2.70%4.40%7.60%37.30%10.9834.5$69,919
EDConsolidated EdisonUtilitiesUtilities - Regulated Electric3.30%4.00%2.30%2.80%63.30%1.20.3319.8$35,196
EMREmerson ElectricIndustrialsSpecialty Industrial Machinery1.90%-4.40%1.40%2.00%69.10%0.50.9136.6$61,930
ESSEssex Property TrustReal EstateREIT - Residential3.50%5.70%4.70%6.50%112.90%1.20.7833.1$18,242
EXPDExpeditors IntlIndustrialsIntegrated Freight & Logistics1.20%5.20%7.90%8.60%30.20%0.30.8425.5$16,794
FASTFastenalIndustrialsIndustrial Distribution2.00%8.10%12.10%12.10%75.60%0.20.8638.9$44,782
FRTFederal Realty InvestmentReal EstateREIT - Retail4.00%1.30%0.90%2.40%127.00%1.50.8432.3$9,417
GDGeneral DynamicsIndustrialsAerospace & Defense2.00%2.60%6.80%8.60%42.00%0.50.5622.2$80,183
GPCGenuine PartsConsumer CyclicalAuto Parts3.50%7.30%5.60%5.70%50.60%1.30.7414.8$15,947
GWWW.W. GraingerIndustrialsIndustrial Distribution0.70%16.40%7.30%6.60%20.80%0.80.8130$54,158
HRLHormel FoodsConsumer DefensivePackaged Foods3.70%-4.50%6.10%10.90%78.50%0.40.2221.4$16,752
IBMIBMTechnologyInformation Technology Services3.20%-4.40%0.60%4.30%95.40%2.50.5530.1$191,142
ITWIllinois Tool WorksIndustrialsSpecialty Industrial Machinery2.30%8.70%7.00%12.00%49.20%2.50.8322.6$77,111
JNJJohnson & JohnsonHealthcareDrug Manufacturers - General3.10%2.90%5.50%5.90%78.10%0.50.2526.5$384,882
KMBKimberly-ClarkConsumer DefensiveHousehold & Personal Products3.60%5.80%3.40%3.80%62.50%5.80.2917.4$44,747
KOCoca-ColaConsumer DefensiveBeverages - Non-Alcoholic3.00%5.10%3.90%4.70%79.10%1.70.4127.1$281,342
KVUEKenvueConsumer DefensiveHousehold & Personal Products3.60%- - - 140.40%0.90.540.2$43,914
LINLindeBasic MaterialsSpecialty Chemicals1.20%3.50%9.70%7.90%40.30%0.60.8234.7$217,812
LOWLowe's CompaniesConsumer CyclicalHome Improvement Retail1.80%26.00%15.90%17.50%36.70%- 0.9721.6$148,534
MCDMcDonald'sConsumer CyclicalRestaurants2.40%8.40%7.60%7.50%56.80%- 0.4825.6$209,543
MDTMedtronicHealthcareMedical Devices3.10%-2.90%5.30%8.70%92.60%0.60.6130$114,472
MKCMcCormick & CoConsumer DefensivePackaged Foods2.20%2.30%8.10%8.50%55.90%0.90.3926.6$21,014
NDSNNordsonIndustrialsSpecialty Industrial Machinery1.30%7.20%15.50%13.50%32.90%0.60.9530.2$14,174
NEENextEra EnergyUtilitiesUtilities - Regulated Electric2.60%15.10%10.50%11.00%59.40%1.70.6723.5$162,970
NUENucorBasic MaterialsSteel1.50%18.80%6.20%3.90%15.30%0.31.113.6$33,664
ORealty IncomeReal EstateREIT - Retail5.40%-3.20%3.00%3.70%285.90%0.70.5355$51,688
PEPPepsiCoConsumer DefensiveBeverages - Non-Alcoholic3.30%-5.00%7.20%7.50%77.00%2.30.3924.5$227,873
PGProcter & GambleConsumer DefensiveHousehold & Personal Products2.40%30.80%6.20%4.60%62.00%0.70.3828.5$389,005
PNRPentairIndustrialsSpecialty Industrial Machinery0.90%14.30%5.00%-2.60%22.60%0.51.1424.8$16,377
PPGPPG IndusBasic MaterialsSpecialty Chemicals2.10%4.50%5.90%7.30%41.50%0.91.0419.7$29,048
ROPRoper TechsTechnologySoftware - Application0.60%4.00%10.20%14.10%16.00%0.40.7939.7$57,643
SHWSherwin-WilliamsBasic MaterialsSpecialty Chemicals0.80%15.10%13.70%14.60%27.00%2.90.8835.7$90,357
SJMJM SmuckerConsumer DefensivePackaged Foods3.80%7.60%4.20%5.40%59.80%1.10.1816$12,078
SPGIS&P GlobalFinancial ServicesFinancial Data & Stock Exchanges0.80%6.10%9.80%11.70%32.00%0.40.9742.4$149,055
SWKStanley Black & DeckerIndustrialsTools & Accessories3.50%- 3.50%4.70%- 0.71.17- $14,327
SYYSyscoConsumer DefensiveFood Distribution2.70%3.60%5.50%5.80%51.80%6.10.7119.3$36,817
TGTTargetConsumer DefensiveDiscount Stores3.00%9.20%11.20%8.00%45.30%1.31.0215.5$69,119
TROWT. Rowe Price GrFinancial ServicesAsset Management4.50%1.40%10.30%10.90%58.00%01.4313$24,452
WMTWalmartConsumer DefensiveDiscount Stores1.00%2.90%3.30%2.60%41.20%0.70.442.7$658,734
WSTWest Pharmaceutical ServsHealthcareMedical Instruments & Supplies0.30%17.20%5.90%7.20%11.80%0.11.0445.7$22,301
XOMExxon MobilEnergyOil & Gas Integrated3.30%19.40%1.80%3.20%45.00%0.20.514$518,833

Dividend Calendar

This table was created using StockRover*.

TickerCompanyEx-Dividend DateDividend Record DateDividend Payment DateDividend FrequencyNext Dividend Payment Per ShareDividend Per Share
ABBVAbbVie1/15/251/15/252/14/254$1.64 $6.56
ABTAbbott Laboratories10/15/2410/15/2411/15/244$0.55 $2.20
ADMArcher-Daniels Midland8/21/248/21/249/11/244$0.50 $2.00
ADPAutomatic Data Processing9/13/249/13/2410/1/244$1.40 $5.60
AFLAflac11/20/2411/20/2412/2/244$0.50 $2.00
ALBAlbemarle12/13/2412/13/241/2/254$0.41 $1.62
AMCRAmcor9/6/249/6/249/26/244$0.12 $0.50
AOSA.O. Smith10/31/2410/31/2411/15/244$0.34 $1.36
APDAir Products & Chemicals10/1/2410/1/2411/12/244$1.77 $7.08
ATOAtmos Energy8/26/248/26/249/9/244$0.81 $3.22
BDXBecton Dickinson9/9/249/9/249/30/244$0.95 $3.80
BENFranklin Resources9/30/249/30/2410/11/244$0.31 $1.24
BF.BBrown-Forman9/3/249/3/2410/1/244$0.22 $0.87
BROBrown & Brown11/6/2411/6/2411/13/244$0.15 $0.60
CAHCardinal Health10/1/2410/1/2410/15/244$0.51 $2.02
CATCaterpillar10/21/2410/21/2411/20/244$1.41 $5.64
CBChubb9/13/249/13/2410/4/244$0.91 $3.64
CHDChurch & Dwight Co11/15/2411/15/2412/2/244$0.28 $1.13
CHRWC.H. Robinson Worldwide9/6/249/6/2410/1/244$0.62 $2.48
CINFCincinnati Financial9/17/249/17/2410/15/244$0.81 $3.24
CLColgate-Palmolive10/18/2410/18/2411/15/244$0.50 $2.00
CLXClorox10/23/2410/23/2411/7/244$1.22 $4.88
CTASCintas11/15/2411/15/2412/13/244$0.39 $1.56
CVXChevron8/19/248/19/249/10/244$1.63 $6.52
DOVDover8/30/248/30/249/16/244$0.51 $2.06
ECLEcolab9/17/249/17/2410/15/244$0.57 $2.28
EDConsolidated Edison11/13/2411/13/2412/16/244$0.83 $3.32
EMREmerson Electric8/16/248/16/249/10/244$0.52 $2.10
ESSEssex Property Trust9/30/249/30/2410/11/244$2.45 $9.80
EXPDExpeditors Intl6/3/246/3/246/17/242$0.73 $1.46
FASTFastenal10/25/2410/25/2411/22/244$0.39 $1.56
FRTFederal Realty Investment1/2/251/2/251/15/254$1.10 $4.40
GDGeneral Dynamics10/11/2410/11/2411/15/244$1.42 $5.68
GPCGenuine Parts9/6/249/6/2410/1/244$1.00 $4.00
GWWW.W. Grainger11/8/2411/11/2412/1/244$2.05 $8.20
HRLHormel Foods10/15/2410/15/2411/15/244$0.28 $1.13
IBMIBM11/12/2411/12/2412/10/244$1.67 $6.68
ITWIllinois Tool Works12/31/2412/31/241/10/254$1.50 $6.00
JNJJohnson & Johnson11/26/2411/26/2412/10/244$1.24 $4.96
KMBKimberly-Clark9/6/249/6/2410/2/244$1.22 $4.88
KOCoca-Cola11/29/2411/29/2412/16/244$0.49 $1.94
KVUEKenvue11/13/2411/13/2411/27/244$0.20 $0.82
LINLinde12/3/2412/3/2412/17/244$1.39 $5.56
LOWLowe's Companies10/23/2410/23/2411/6/244$1.15 $4.60
MCDMcDonald's12/2/2412/2/2412/16/244$1.77 $7.08
MDTMedtronic9/27/249/27/2410/11/244$0.70 $2.80
MKCMcCormick & Co10/7/2410/7/2410/21/244$0.42 $1.68
NDSNNordson8/27/248/27/249/10/244$0.78 $3.12
NEENextEra Energy11/22/2411/22/2412/16/244$0.51 $2.06
NUENucor9/27/249/27/2411/8/244$0.54 $2.16
ORealty Income11/1/2411/1/2411/15/2412$0.26 $3.16
PEPPepsiCo9/6/249/6/249/30/244$1.36 $5.42
PGProcter & Gamble10/18/2410/18/2411/15/244$1.01 $4.03
PNRPentair10/18/2410/18/2411/1/244$0.23 $0.92
PPGPPG Indus11/12/2411/12/2412/12/244$0.68 $2.66
ROPRoper Techs10/8/2410/8/2410/21/244$0.75 $3.00
SHWSherwin-Williams11/15/2411/15/2412/6/244$0.71 $2.86
SJMJM Smucker11/15/2411/15/2412/2/244$1.08 $4.32
SPGIS&P Global11/26/2411/26/2412/11/244$0.91 $3.64
SWKStanley Black & Decker11/29/2411/29/2412/17/244$0.82 $3.28
SYYSysco10/4/2410/4/2410/25/244$0.51 $2.04
TGTTarget11/20/2411/20/2412/10/244$1.12 $4.48
TROWT. Rowe Price Gr9/13/249/13/249/27/244$1.24 $4.96
WMTWalmart12/13/2412/13/241/6/254$0.21 $0.83
WSTWest Pharmaceutical Servs11/13/2411/13/2411/20/244$0.21 $0.84
XOMExxon Mobil8/15/248/15/249/10/244$0.95 $3.80

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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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