Dividend Challengers

The List of Dividend Challengers in 2022

This article provides an updated list of the Dividend Challengers in 2022, select financial data, and analysis. The list and data are updated monthly.

The Dividend Challengers 2022 are stocks that have grown their dividend for 5 to 9 consecutive years. The list is a relatively select one despite taking only five years of dividend growth to get on the list. There are only 242 companies on the Dividend Challengers 2022 list as of November 23, 2022. The total number is out of the nearly 6,000 companies listed on the New York Stock Exchange (NYSE) and Nasdaq in 2022. This number implies a success rate of roughly 4.03%.

It is significantly more difficult for a company to become a Dividend King, Dividend Aristocrat, or Dividend Champion. However, the success rate to become a Dividend Challenger is on par with the Dividend Contenders.

Note that the number of companies on the Dividend Challengers list is down quite a bit from 463 at the beginning of 2020 due to the effects of the COVID-19 pandemic on many companies. The number of dividend cuts and suspensions resulting from COVID-19 has been high on the Dividend Challengers list. In addition

Before we discuss the Dividend Challengers, individual investors should be aware there are micro-cap companies on the Dividend Challengers 2022 list. Micro-cap companies have added risk compared to larger companies due to fewer shares and lower liquidity. Micro-caps also tend to be newer companies without long track records. As a result, micro-cap companies are not suited to most investors interested in dividend growth investing.

The Dividend Challengers 2022 list also includes very large companies such as Eli Lilly (LLY), Thermo Fisher Scientific (TMO), Danaher (DHR), Intel (INTC), and JP Morgan Chase (JPM). Hence, the list sometimes includes established companies that only recently started paying dividends or had an interruption in their dividend growth streak. For instance, many banks cut or omitted their dividend during the sub-prime mortgage crisis.

Some of the Dividend Challengers 2022 will become Dividend Contenders and eventually Dividend Champions, and a few will become Dividend Kings. Although, many will also drop off the list when the economy slows down or due to a merger. This point was apparent during the COVID-19 pandemic.


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Market Update for the Dividend Challengers 2022

The Dividend Challengers 2022 are currently (as of November 23, 2022) trading at an elevated valuation of a trailing average price-to-earnings ratio of about 19.27X. 

The current average dividend yield is about 2.78%. The trailing average 5-year dividend growth rate is about 16.17%. The average payout ratio is approximately 48.95%. The average market cap is currently $15,966 million. 

Currently, the Dividend Challenger with the highest yield is Capital Southwest (CSWC), and the one trading with the lowest earnings multiple is Matson (MATX). 

You can look at updated, select financial data and the dividend earnings calendar for each stock in the Dividend Challengers list in the tables at the end of the article. The most recent dividend increases are also available for you to search.

According to Stock Rover*, in the trailing 1-year, the Dividend Challengers 2022 has returned (-4.6%) as a group compared to (-12.7%) for the S&P 500 Index, as seen in the chart below. Over the trailing 5-years, the Dividend Challengers have returned +91.7%, and the S&P 500 has returned +69.1%.

Dividend-Challengers-2022-Trailing-1-Year-Returns-1
Source: Stock Rover*

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Promotions of the Dividend Challengers in 2022

Many stocks on the Dividend Challengers 2021 were promoted to the Dividend Contenders list. These stocks hit the 10-year mark for consecutive annual increases. However, we will not list all the stocks here, but you can check the Dividend Contenders 2022 list and see which stocks have ten consecutive annual years of dividend increases.

Additions and Deletions to the Dividend Challengers 2022

There were many additions at the bottom of the Dividend Challengers 2021 list. We will not list all the stocks here, but you can scroll down and look at some of the newer stocks on the list with 5-years of consecutive dividend growth.

Some stocks are dropped from the list every year after failing to increase the dividend. In many cases, these stocks run into operational challenges. In some cases, the economy slows down or experiences a recession. When companies decline revenue or earnings, the dividend is often frozen or cut.

Other Dividend Stock Lists

I have also written articles with several other lists and analyses on US dividend growth stocks, including:

For Canadian stocks, I have written about

For UK stocks, I have written about

Other dividend stock lists

Some Details on the Dividend Challengers 2022

Dividend Challengers Sector Breakdown

Companies from the Financial Sector have the most significant representation on the Dividend Contenders 2022 list with 102 companies. This sector is followed by Industrials with 34 companies, Real Estate with 28 companies, and Technology with 28 companies. The top two sectors did not change in the past few years. The Consumer Cyclical sector had many companies that suspended or cut their dividends and thus have trended lower.

Dividend Challenger Sector Analysis

Financials tend to have stable and generally rising earnings over time, except for recessions. Many financial companies cut, froze, or suspended dividends during the Great Recession. But many also restarted dividend growth a few years later. Like the Dividend Contenders list, regional banks are the number one industry on the Dividend Challengers list.

Industrial companies tend to have somewhat more volatile earnings and cash flows, but many have low payout ratios letting them grow the dividends during recessions and economic downturns. 

Real Estate companies on the list tend to be REITs. Commercial real estate REITs have not done well during the COVID-19 pandemic, but others have held up better. For instance, industrial, specialty, and residential REITs have done well.

Information Technology is one sector that has thrived during the pandemic. The move to online, digital, and work or learn at home trends have accelerated, and some of this is likely to stay with us. The relative outperformance of Information Technology has allowed many of the companies to pay an increasing dividend.

Dividend Challenger Industry Analysis

Market Size of the Dividend Challengers 2022

The largest of the Dividend Challengers 2021 by market capitalization used to be Apple (APPL). However, Apple was promoted to the Dividend Contenders 2022 list.

The largest Dividend Challenger is Bank of America (BAC), with more than $330 billion market capitalization.

Besides Apple, the list is not dominated by large-cap companies but includes many mid-cap companies ($2 billion – $10 billion), small-cap companies ($300 million – $2 billion), and even micro-cap companies. Micro-cap companies have a market size of less than $100 million and are often traded on the over-the-counter (OTC) market. Therefore, investors should be wary when investing in companies with small market capitalization due to the associated risks.

What I Like About the Dividend Challengers 2022?

The Dividend Challengers 2022 list serves as a screen for further investigating a stock for a dividend growth portfolio. But not all the Dividend Challengers are suitable for most investors since they have not raised the dividend for an extended period. 

In general, dividend growth investors should prefer stocks that have raised their dividend for at least 10-years or more. There are some exceptions, though. For instance, several mega-cap and large-cap stocks are on the list and can make suitable investments.

List of Dividend Challengers in 2022 – Updated 11/23/22

This table was created using Stock Rover* and Portfolio Insight*.

TickerCompany NameNo. YearsDividend Yield (%)5-yr Dividend Growth Rate (%)Payout Ratio (%)TTM P/E RatioMarket Cap (millions)
ABTAbbott Laboratories91.8012.1041.6024$185,663 
ACCOACCO Brands55.50n/a130.4025.3$515 
ACNBACNB52.905.4030.0011.2$331 
ACREAres Commercial Real710.704.10146.7013.9$673 
AEEAmeren92.706.0057.9022.1$22,785 
AEMAgnico Eagle Mines73.2032.00109.2035.1$22,710 
AINAlbany Intl50.804.3025.1030.6$3,171 
ALGAlamo Group80.5012.508.8019.4$1,791 
ALLEAllegion91.4020.7032.3023.2$10,013 
ALLYAlly Financial64.5040.6319.104.4$7,922 
AMATApplied Materials51.0021.1013.0014.5$92,628 
AMNBAmerican National83.103.1031.9010.9$404 
AUDCAudioCodes51.80n/a40.9022.9$633 
AVTAvnet92.6010.0013.405.8$4,136 
AWIArmstrong World Indus51.30n/a22.1018.7$3,517 
AYAtlantica Sustainable56.4036.4836.48n/a$3,223 
BACBank of America92.3012.9026.7011.9$301,722 
BALLBall61.4014.9026.7018.9$17,617 
BAXBaxter Intl62.1012.6030.1015.47$28,381 
BCCBoise Cascade50.80n/a2.103.2$2,862 
BFCBank First91.009.3016.2017.5$889 
BOHBank of Hawaii73.406.1050.4014.8$3,263 
BPOPPopular73.1017.1015.305.2$5,185 
BRKLBrookline Bancorp53.808.4036.2010$1,085 
BRTBRT Apartments54.90n/a33.907.3$390 
BUSEFirst Busey83.505.0041.1011.9$1,439 
BWFGBankwell Finl Gr72.6023.4016.306.6$239 
BWXTBWX Technologies71.5014.9025.7017.8$5,500 
CABOCable One71.6010.2017.6011.8$4,172 
CBANColony Bankcorp53.10n/a39.0012.5$240 
CCBGCapital City Bank Group91.9019.4031.6017.2$601 
CCICrown Castle94.509.10157.6037.6$60,678 
CDWCDW91.3022.9025.9024.9$25,592 
CGNXCognex70.609.2021.1040.6$8,525 
CHCTCommunity Healthcare75.202.40204.1040.1$872 
CNACNA Financial63.805.9047.0012.6$11,430 
CPFCentral Pacific Financial94.907.6037.307.7$571 
CQPCheniere Energy Partners66.5019.5076.0013.81$29,132 
CRAICRA International61.2050.7520.7020.7$869 
CSGSCSG Systems Intl81.706.1079.2047.2$1,931 
CSWCCapital Southwest711.1015.80104.909.9$583 
CTRACoterra Energy69.0068.5019.405$21,713 
CTRECareTrust REIT85.808.30123.0012.47$1,853 
CUZCousins Props55.005.9061.4012.3$3,854 
CVCYCentral Valley Community52.3014.9021.909.5$242 
CWCurtiss-Wright60.404.8010.9026.5$6,819 
DGDollar Gen80.9016.2019.2025.5$57,820 
DHID.R. Horton91.2017.605.405.1$29,096 
DHILDiamond Hill Investment93.30n/a39.8013.7$553 
DHRDanaher80.4012.3010.4029.1$191,708 
DKSDick’s Sporting Goods81.6023.5011.7010.3$9,422 
DLBDolby Laboratories81.5012.3048.7039.4$6,963 
DVNDevon Energy58.0091.6048.807.1$44,394 
EFSCEnterprise Finl Servs81.8015.9016.8010.3$1,959 
EOGEOG Resources62.3035.0020.8011.2$83,598 
EQIXEquinix81.909.20158.7088.3$62,163 
EQREquity Residential54.004.4081.2021.4$23,622 
ESSAESSA Bancorp52.8010.8027.4010.4$222 
ETREntergy83.803.8065.3018.3$23,830 
EWBCEast West Bancorp52.3014.9021.509.8$9,747 
FBMSFirst Bancshares52.3039.8023.9011.8$828 
FBNCFirst Bancorp51.8022.4026.5014.9$1,726 
FCAPFirst Cap54.303.4031.207.3$81 
FCFFirst Commonwealth63.308.4034.6010.9$1,367 
FCNCAFirst Citizens BancShares60.409.403.0012.8$11,679 
FCPTFour Corners Property65.106.50107.3022$2,245 
FDBCFidelity D & D Bancorp83.008.4024.208.9$271 
FFNWFirst Financial Northwest63.1011.4033.3010.9$139 
FGBIFirst Guaranty Bancshares82.805.9023.308.5$249 
FIBKFirst Interstate BancSys94.3014.4083.7022.4$4,593 
FMCFMC51.7026.3041.4022.4$16,154 
FMNBFarmers National Banc74.3021.7040.009.7$505 
FNCBFNCB Bancorp74.4024.6031.808.2$158 
FRAFFranklin Financial Servs84.005.9038.109.5$138 
FRCFirst Republic Bank90.909.7011.5014.8$22,703 
FSBWFS Bancorp92.4029.5020.009.1$260 
FSVFirstService60.6010.6030.7049.5$5,597 
FWRDForward Air70.909.9013.2016.1$2,960 
FXNCFirst National83.0032.0024.008.3$116 
GGenpact61.10n/a26.5025.1$8,130 
GBXGreenbrier Companies82.803.3075.0027.2$1,244 
GCBCGreene County Bancorp90.807.5015.1020.8$622 
GHCGraham Hldgs61.004.5021.1021.7$3,107 
GICGlobal Industrial62.9044.9624.6011.4$955 
GILDGilead Sciences73.407.00109.0032.3$107,137 
GLPIGaming and Leisure Props85.502.30112.6021$13,184 
GNTYGuaranty Bancshares52.50n/a24.9010.3$420 
GRMNGarmin53.207.4055.8018.1$17,373 
GSBCGreat Southern Bancorp92.6010.8028.3011.5$750 
GWRSGlobal Water Resources62.3011.09134.0058.2$305 
HBBHamilton Beach Brands53.10n/a18.506.2$189 
HBCPHome Bancorp82.2011.4022.4010.6$355 
HCKTThe Hackett Group91.909.0028.1015.5$721 
HESMHess Midstream57.30n/a102.5014.7$1,314 
HFBLHome Federal Bancorp92.7014.9025.8011.4$54 
HLIHoulihan Lokey72.1021.5033.2018.4$6,813 
HLNEHamilton Lane52.20n/a40.4020.2$2,813 
HOFTHooker Furnishings74.5010.80251.6059$206 
HRBH&R Block72.703.9036.0014$6,620 
HTGCHercules Capital510.003.00438.2043.5$1,825 
HTHHilltop Holdings62.0051.5728.4014.9$1,922 
HTLFHeartland Financial USA82.3020.5023.7010.9$2,093 
HURCHurco Companies92.408.4043.6019.1$165 
HVTHaverty Furniture Cos93.6013.3019.806.1$507 
IBCPIndependent Bank83.6012.9030.208.6$515 
IBTXIndependent Bank Gr92.3030.6030.1013.2$2,709 
ICEIntercontinental Exchange91.4013.7032.3023.7$59,731 
IIPRInnovative Ind Props56.20n/a128.8022.4$3,263 
INTCIntel84.906.0044.509.2$124,101 
INVHInvitation Homes52.80n/a143.1054.4$19,320 
IOSPInnospec91.2010.8023.0021.2$2,768 
IROQIF Bancorp72.1014.9019.8010.1$62 
ISTRInvestar Holding81.6025.9010.606.6$215 
IXORIX52.30-1.300.009.3$18,658 
JBSSJohn B Sanfilippo & Son60.90n/a14.9017.2$989 
JEFJefferies Financial Group63.2024.6030.4010.2$8,625 
JOUTJohnson Outdoors92.3025.4026.7013.5$561 
KFRCKforce52.0020.1026.4014$1,265 
KMIKinder Morgan56.0017.3098.7016.8$41,919 
KNSLKinsale Capital Gr60.2034.498.1050.1$7,025 
KRCKilroy Realty55.204.90108.8021.4$4,823 
KRNYKearny Financial74.6029.7046.8010.2$644 
LANDGladstone Land92.700.80n/a– $713 
LCIILCI Indus74.2016.0020.005.2$2,556 
LCNBLCNB54.704.6044.209.8$199 
LKFNLakeland Financial82.1012.7038.5019.5$1,969 
LLYEli Lilly91.1013.5056.7054.5$343,698 
LOGILogitech International81.709.6032.6019.7$9,603 
LPXLouisiana-Pacific51.40n/a5.204.5$4,546 
LRCXLam Research81.5030.8017.8013.2$62,925 
LSBKLake Shore Bancorp65.6017.6059.3011.9$73 
LSTRLandstar System90.7024.608.4014.1$6,135 
LWLamb Weston Hldgs61.10n/a34.8031$12,461 
MASMasco92.2021.7029.1013.8$11,429 
MATXMatson91.909.203.501.9$2,489 
MBCNMiddlefield Banc52.704.7023.5010.1$168 
MBINMerchants Bancorp51.10n/a6.005.6$1,074 
MDCM.D.C. Holdings66.2020.3022.003.7$2,289 
MDLZMondelez International92.3011.8063.2029.7$91,045 
MEDMedifast75.5038.7047.609.1$1,325 
MLMMartin Marietta Materials70.708.4018.5027.8$22,785 
MNROMonro92.509.2072.0030.5$1,439 
MORNMorningstar90.609.4049.8086.8$10,458 
MPBMid Penn Bancorp92.409.0034.6014.6$535 
MPWRMonolithic Power Systems50.8030.3033.9046.3$17,635 
MRTNMarten Transport61.1029.2016.4016$1,711 
MSMorgan Stanley93.5025.4041.1013.1$151,991 
MSBIMidland States Bancorp64.4025.4829.106.7$583 
MSCIMSCI81.0026.9041.9049.1$40,678 
MTBM&T Bank62.809.9045.5016.4$29,666 
MVBFMVB Financial62.8046.7043.1017.1$309 
MWAMueller Water Products82.108.8041.6024.1$1,806 
NATINational Instruments92.705.90104.7039.4$5,431 
NBHCNational Bank Holdings72.1022.7036.0019.3$1,805 
NEPNextEra Energy Partners84.0014.9056.6015.6$6,955 
NEUNewMarket92.703.7041.2015.5$3,105 
NINiSource63.506.1055.4017.6$11,038 
NNINelnet81.1011.407.107.4$3,673 
NPOEnPro Indus80.904.9012.8013.5$2,465 
NSANational Storage75.7016.20222.8042.3$3,535 
NSCNorfolk Southern62.0015.2035.3018.5$58,465 
NTAPNetApp92.7020.1047.0017.9$16,227 
NXRTNexPoint Residential73.6011.60147.6046.7$1,190 
OCOwens-Corning91.5011.809.606.7$8,517 
ODFLOld Dominion Freight Line60.40n/a9.4025.5$32,815 
OFLXOmega Flex51.40n/a37.0037.6$944 
OGSONE Gas82.808.1061.3022$4,739 
OLEDUniversal Display51.10n/a27.5027.7$5,230 
OMCOmnicom Group93.604.9044.7012.6$15,943 
ORRFOrrstown Finl Servs72.809.6042.5015.5$291 
OSKOshkosh91.609.00107.3015.7$6,075 
OTTROtter Tail92.905.2023.108.2$2,405 
OTTWOttawa Bancorp53.40n/a43.0013$34 
OVLYOak Valley91.503.7014.509.5$161 
PEBOPeoples Bancorp75.2011.6038.607.7$830 
PFISPeoples Financial Servs62.804.6024.609$406 
PHMPulteGroup51.3010.806.104.6$10,182 
PKBKParke Bancorp83.3012.7019.006.4$258 
PLDPrologis92.7012.409.2021.4$106,642 
PRGSProgress Software61.3041.1435.4027.3$2,271 
PRKPark National52.802.0044.4015.8$2,388 
PXDPioneer Natural Resources510.00116.6568.909.1$60,437 
RCKYRocky Brands52.307.1017.107.7$200 
REXRRexford Industrial Realty92.3016.80127.4059.1$10,094 
RMAXRE/MAX Hldgs64.705.00167.3035.5$365 
RMRRMR Group65.609.9075.7013.9$470 
RVSBRiverview Bancorp83.2021.7019.308.6$162 
SAFESafehold52.30n/a30.8013.6$1,906 
SAHSonic Automotive72.2038.009.205.6$1,870 
SAMGSilvercrest Asset Mgmt53.808.4030.908.5$181 
SBFGSB Finl Gr93.0011.8028.2010.3$117 
SCVLShoe Carnival91.4019.107.306.6$712 
SFStifel Financial51.90n/a16.0010.7$6,810 
SFBCSound Financial Bancorp81.7011.2022.9013.9$105 
SFBSServisfirst Bancshares81.2035.7021.1017.5$4,139 
SIGISelective Insurance Gr91.3010.8029.6025.3$5,695 
SIMOSilicon Motion Technology73.3020.1032.3010$2,032 
SIRISirius XM Holdings61.5045.7629.3022.4$25,281 
SMMFSummit Finl Gr82.8012.7019.007.4$364 
SNDRSchneider National51.30n/a11.509.4$4,529 
SNVSynovus Finl83.2017.8027.308.7$6,173 
SSDSimpson Manufacturing Co91.104.4012.7011.6$3,950 
SSNCSS&C Technologies Hldgs61.5023.4029.4019.9$13,268 
STORSTORE Capital85.205.80136.1027.7$9,005 
STZConstellation Brands71.309.00742.90500+$47,341 
SUISun Communities62.405.60167.6070.2$17,970 
SWCHSwitch50.60n/a8.4022.5$5,400 
SWKSSkyworks Solutions82.6014.1028.3012.2$15,239 
TAITTaitron Components65.3014.9030.006.3$21 
TFIITFI International71.3014.2013.5013.5$9,226 
TFSLTFS Financial88.1010.70491.3053.5$3,903 
TKRTimken91.702.8024.3015$5,423 
TMOThermo Fisher Scientific50.2014.906.5030.7$214,422 
TPBTurning Point Brands51.10n/a10.9010.8$380 
TRTNTriton International64.2021.2623.105.9$3,900 
TTECTTEC Holdings82.2015.8043.8020.5$2,232 
TTEKTetra Tech80.6018.1017.0031.7$8,207 
UBCPUnited Bancorp94.205.6040.5010$86 
UCBIUnited Community Banks82.3017.1036.1016.8$4,150 
UNFUniFirst50.7051.6021.0035.1$3,580 
UNTYUnity Bancorp91.6012.9011.507.9$299 
UTLUnitil83.001.6059.4020.1$839 
VALUValue Line81.906.8040.0023$511 
VICIVICI Properties54.70n/a138.7031.6$31,993 
VMCVulcan Materials90.909.9035.1039.8$24,221 
VRTSVirtus Investment53.4029.7034.1011.3$1,399 
VSECVSE90.807.4016.9021.4$630 
VSHVishay Intertechnology71.809.9014.708.4$3,206 
VVVValvoline51.5059.1320.8053.9$5,795 
WDWalker & Dunlop52.90n/a30.1011.2$2,773 
WEYSWeyco Group83.701.8031.108.4$247 
WGOWinnebago Industries51.9022.006.004.9$1,781 
WINAWinmark71.2044.8019.9021.5$827 
WINGWingstop50.50n/a49.70112.7$4,741 
WMBWilliams Companies55.007.20102.7020.6$41,216 
WMSAdvanced Drainage Systems80.5011.408.4017.8$8,075 
WSFSWSFS Financial91.3010.8016.2014.3$2,930 
WSOWatsco93.2012.0059.6020.1$10,807 
WTFCWintrust Finl91.5019.4017.8012.1$5,394 
WTWWillis Towers Watson61.409.1014.5028.4$26,118 
WUThe Western Union76.606.1044.306.7$5,475 
YUMYum Brands51.8013.7049.6028.9$35,472 
Mean7.02.7816.1748.9519.27 $      15,966 
Median7.02.3011.8030.2014.70 $        3,106 
Sources: Portfolio Insight*Stock Rover* (as of November 23, 2022)

Dividend Calendar for the Dividend Challengers 2022

This list was created using Stock Rover*.

TickerCompanyEx-Dividend DateDiv. Record DateDividend Payment DateDividend FrequencyNext Div. Payment Per ShareDividend Per Share
ABTAbbott Laboratories10/13/2210/14/2211/15/224$0.47 $1.88 
ACCOACCO Brands11/23/2211/25/2212/12/224$0.08 $0.30 
ACNBACNB11/30/2212/1/2212/15/224$0.28 $1.12 
ACREAres Commercial Real12/29/2212/30/221/18/234$0.33 $1.32 
ADCAgree Realty11/29/2211/30/2212/14/2212$0.24 $2.88 
AEEAmeren12/6/2212/7/2212/30/224$0.59 $2.36 
AEMAgnico Eagle Mines11/30/2212/1/2212/15/224$0.40 $1.60 
AINAlbany Intl9/2/229/6/2210/7/224$0.21 $0.84 
ALGAlamo Group10/17/2210/18/2211/1/224$0.18 $0.72 
ALLEAllegion9/15/229/16/229/30/224$0.41 $1.64 
ALLYAlly Financial10/31/2211/1/2211/15/224$0.30 $1.20 
AMATApplied Materials11/23/2211/25/2212/15/224$0.26 $1.04 
AMNBAmerican National12/1/2212/2/2212/16/224$0.30 $1.20 
AUDCAudioCodes8/16/228/17/228/31/222$0.18 $0.36 
AVTAvnet12/6/2212/7/2212/21/224$0.29 $1.16 
AWIArmstrong World Indus11/2/2211/3/2211/17/224$0.25 $1.02 
AYAtlantica Sustainable11/29/2211/30/2212/15/224$0.44 $1.78 
BACBank of America12/1/2212/2/2212/30/224$0.22 $0.88 
BALLBall11/30/2212/1/2212/15/224$0.20 $0.80 
BAXBaxter Intl12/1/2212/2/221/3/234$0.29 $1.16 
BCCBoise Cascade11/30/2212/1/2212/15/224$0.15 $0.60 
BFCBank First12/20/2212/21/221/4/234$0.25 $1.00 
BOHBank of Hawaii11/29/2211/30/2212/14/224$0.70 $2.80 
BPOPPopular12/6/2212/7/221/3/234$0.55 $2.20 
BRKLBrookline Bancorp11/9/2211/11/2211/25/224$0.14 $0.54 
BRTBRT Apartments9/26/229/27/2210/7/224$0.25 $1.00 
BUSEFirst Busey10/20/2210/21/2210/28/224$0.23 $0.92 
BWFGBankwell Finl Gr11/9/2211/11/2211/21/224$0.20 $0.80 
BWXTBWX Technologies11/18/2211/21/2212/13/224$0.22 $0.88 
CABOCable One11/28/2211/29/2212/16/224$2.85 $11.40 
CBANColony Bankcorp11/3/2211/4/2211/18/224$0.11 $0.43 
CCBGCapital City Bank Group12/2/2212/5/2212/19/224$0.17 $0.68 
CCICrown Castle12/14/2212/15/2212/30/224$1.57 $6.26 
CDWCDW11/23/2211/25/2212/9/224$0.59 $2.36 
CGNXCognex11/17/2211/18/2212/2/224$0.07 $0.28 
CHCTCommunity Healthcare11/9/2211/10/2211/25/224$0.44 $1.78 
CMCanadian Imperial Bank9/27/229/28/2210/28/224$0.61 $2.45 
CNACNA Financial11/14/2211/15/2212/1/224$0.40 $1.60 
CPFCentral Pacific Financial11/29/2211/30/2212/15/224$0.26 $1.04 
CQPCheniere Energy Partners11/2/2211/3/2211/14/224$1.07 $3.88 
CRAICRA International11/28/2211/29/2212/9/224$0.36 $1.44 
CSGSCSG Systems Intl9/15/229/16/229/29/224$0.26 $1.06 
CSWCCapital Southwest12/14/2212/15/2212/30/224$0.57 $2.03 
CTRACoterra Energy11/15/2211/16/2211/30/224$0.68 $2.49 
CTRECareTrust REIT9/29/229/30/2210/14/224$0.28 $1.10 
CUZCousins Props10/4/2210/5/2210/14/224$0.32 $1.28 
CVCYCentral Valley Community11/3/2211/4/2211/18/224$0.12 $0.48 
CVGWCalavo Growers11/15/2211/16/2212/14/224$0.29 $0.29 
CWCurtiss-Wright11/22/2211/23/2212/1/224$0.19 $0.76 
DGDollar Gen10/3/2210/4/2210/18/224$0.55 $2.20 
DHID.R. Horton12/1/2212/2/2212/12/224$0.25 $1.00 
DHILDiamond Hill Investment11/23/2211/25/2212/9/224$1.50 $6.00 
DHRDanaher9/29/229/30/2210/28/224$0.25 $1.00 
DKSDick’s Sporting Goods12/8/2212/9/2212/30/224$0.49 $1.95 
DLBDolby Laboratories11/29/2211/30/2212/8/224$0.27 $1.08 
DREDuke Realty9/14/229/15/229/30/224$0.28 $1.12 
DVNDevon Energy12/9/2212/12/2212/30/224$1.35 $5.40 
EFSCEnterprise Finl Servs12/14/2212/15/2212/30/224$0.24 $0.96 
EOGEOG Resources12/14/2212/15/2212/30/224$0.82 $3.30 
EQIXEquinix11/15/2211/16/2212/14/224$3.10 $12.40 
EQREquity Residential9/23/229/26/2210/14/224$0.62 $2.50 
ESSAESSA Bancorp12/15/2212/16/2212/30/224$0.15 $0.60 
ETREntergy11/10/2211/14/2212/1/224$1.07 $4.28 
EWBCEast West Bancorp10/31/2211/1/2211/15/224$0.40 $1.60 
FBMSFirst Bancshares11/7/2211/8/2211/25/224$0.20 $0.80 
FBNCFirst Bancorp9/29/229/30/2210/25/224$0.22 $0.88 
FCAPFirst Cap9/15/229/16/229/30/224$0.26 $1.04 
FCFFirst Commonwealth11/3/2211/4/2211/18/224$0.12 $0.48 
FCNCAFirst Citizens BancShares11/29/2211/30/2212/15/224$0.75 $3.00 
FCPTFour Corners Property12/29/2212/30/221/13/234$0.34 $1.36 
FDBCFidelity D & D Bancorp11/17/2211/18/2212/9/224$0.36 $1.44 
FFNWFirst Financial Northwest12/1/2212/2/2212/16/224$0.12 $0.48 
FGBIFirst Guaranty Bancshares12/22/2212/23/2212/30/224$0.16 $0.64 
FIBKFirst Interstate BancSys11/7/2211/8/2211/18/224$0.47 $1.88 
FMCFMC9/29/229/30/2210/20/224$0.53 $2.12 
FMNBFarmers National Banc9/8/229/9/229/30/224$0.16 $0.64 
FNCBFNCB Bancorp11/30/2212/1/2212/15/224$0.09 $0.36 
FRAFFranklin Financial Servs11/1/2211/2/2211/28/224$0.32 $1.28 
FRCFirst Republic Bank10/26/2210/27/2211/10/224$0.27 $1.08 
FSBWFS Bancorp11/8/2211/9/2211/23/224$0.20 $0.80 
FSVFirstService9/29/229/30/2210/7/224$0.20 $0.81 
FWRDForward Air11/22/2211/23/2212/8/224$0.24 $0.96 
FXNCFirst National8/25/228/26/229/9/224$0.14 $0.56 
GGenpact12/8/2212/9/2212/23/224$0.12 $0.50 
GBXGreenbrier Companies11/7/2211/8/2211/29/224$0.27 $1.08 
GCBCGreene County Bancorp11/14/2211/15/2211/30/224$0.14 $0.56 
GHCGraham Hldgs10/17/2210/18/2211/4/224$1.58 $6.32 
GICGlobal Industrial11/10/2211/14/2211/21/224$0.18 $0.72 
GILDGilead Sciences12/14/2212/15/2212/29/224$0.73 $2.92 
GLPIGaming and Leisure Props9/15/229/16/229/30/224$0.70 $2.82 
GNTYGuaranty Bancshares9/29/2210/1/2210/12/224$0.22 $0.88 
GRMNGarmin12/14/2212/15/2212/30/224$0.73 $2.92 
GSBCGreat Southern Bancorp9/30/2210/3/2210/18/224$0.40 $1.60 
GWRSGlobal Water Resources11/15/2211/16/2211/30/2212$0.02 $0.29 
HBBHamilton Beach Brands11/30/2212/1/2212/15/224$0.10 $0.42 
HBCPHome Bancorp10/28/2210/31/2211/10/224$0.24 $0.96 
HCKTThe Hackett Group12/22/2212/23/221/6/234$0.11 $0.44 
HESMHess Midstream11/2/2211/3/2211/14/224$0.56 $2.18 
HFBLHome Federal Bancorp10/28/2210/31/2211/14/224$0.12 $0.48 
HLIHoulihan Lokey12/1/2212/2/2212/15/224$0.53 $2.12 
HLNEHamilton Lane12/14/2212/15/221/6/234$0.40 $1.60 
HOFTHooker Furnishings9/16/229/19/229/30/224$0.20 $0.80 
HRBH&R Block12/5/2212/6/221/3/234$0.29 $1.16 
HTGCHercules Capital11/9/2211/10/2211/17/224$0.36 $1.44 
HTHHilltop Holdings11/9/2211/11/2211/25/224$0.15 $0.60 
HTLFHeartland Financial USA11/10/2211/14/2211/29/224$0.28 $1.12 
HURCHurco Companies12/30/221/3/231/17/234$0.15 $0.60 
HVTHaverty Furniture Cos11/25/2211/28/2212/13/224$0.28 $1.12 
IBCPIndependent Bank11/3/2211/4/2211/14/224$0.22 $0.88 
IBTXIndependent Bank Gr11/2/2211/3/2211/17/224$0.38 $1.52 
ICEIntercontinental Exchange12/14/2212/15/2212/30/224$0.38 $1.52 
IIPRInnovative Ind Props9/29/229/30/2210/14/224$1.80 $7.20 
INTCIntel11/4/2211/7/2212/1/224$0.37 $1.46 
INVHInvitation Homes11/7/2211/8/2211/23/224$0.22 $0.88 
IOSPInnospec11/18/2211/21/2211/28/222$0.65 $1.30 
IROQIF Bancorp9/22/229/23/2210/14/222$0.20 $0.40 
ISTRInvestar Holding9/29/229/30/2210/31/224$0.09 $0.35 
IXORIX3/29/213/30/216/14/212$1.96 – 
JBSSJohn B Sanfilippo & Son12/1/2212/2/2212/21/221$0.75 $0.75 
JEFJefferies Financial Group11/10/2211/14/2211/29/224$0.30 $1.20 
JOUTJohnson Outdoors10/12/2210/13/2210/27/224$0.31 $1.24 
KFRCKforce12/8/2212/9/2212/23/224$0.30 $1.20 
KMIKinder Morgan10/28/2210/31/2211/15/224$0.28 $1.11 
KNSLKinsale Capital Gr11/29/2211/30/2212/13/224$0.13 $0.52 
KRCKilroy Realty9/29/229/30/2210/12/224$0.54 $2.16 
KRNYKearny Financial11/8/2211/9/2211/23/224$0.11 $0.44 
LANDGladstone Land12/19/2212/20/2212/30/2212$0.05 $0.55 
LCIILCI Indus12/1/2212/2/2212/16/224$1.05 $4.20 
LCNBLCNB11/30/2212/1/2212/15/224$0.21 $0.84 
LKFNLakeland Financial10/24/2210/25/2211/7/224$0.40 $1.60 
LLYEli Lilly11/14/2211/15/2212/9/224$0.98 $3.92 
LOGILogitech International9/26/229/27/229/28/221$0.96 $0.97 
LPXLouisiana-Pacific11/8/2211/9/2212/1/224$0.22 $0.88 
LRCXLam Research12/13/2212/14/221/4/234$1.73 $6.90 
LSBKLake Shore Bancorp11/3/2211/4/2211/18/224$0.18 $0.72 
LSTRLandstar System11/7/2211/8/2212/2/224$0.30 $1.20 
LWLamb Weston Hldgs11/3/2211/4/2212/2/224$0.25 $0.98 
MASMasco11/9/2211/10/2211/28/224$0.28 $1.12 
MATXMatson11/9/2211/10/2212/1/224$0.31 $1.24 
MBCNMiddlefield Banc12/1/2212/2/2212/15/224$0.20 $0.80 
MBINMerchants Bancorp12/14/2212/15/221/3/234$0.07 $0.28 
MDCM.D.C. Holdings11/8/2211/9/2211/23/224$0.50 $2.00 
MDLZMondelez International9/29/229/30/2210/14/224$0.38 $1.54 
MEDMedifast9/19/229/20/2211/8/224$1.64 $6.56 
MLMMartin Marietta Materials11/30/2212/1/2212/30/224$0.66 $2.64 
MNROMonro12/5/2212/6/2212/20/224$0.28 $1.12 
MORNMorningstar10/17/2210/18/2210/31/224$0.36 $1.44 
MPBMid Penn Bancorp11/9/2211/10/2211/28/224$0.20 $0.80 
MPWRMonolithic Power Systems9/29/229/30/2210/14/224$0.75 $3.00 
MRTNMarten Transport9/15/229/16/229/30/224$0.06 $0.24 
MSMorgan Stanley10/28/2210/31/2211/15/224$0.77 $3.10 
MSBIMidland States Bancorp11/10/2211/14/2211/21/224$0.29 $1.16 
MSCIMSCI11/9/2211/10/2211/30/224$1.25 $5.00 
MTBM&T Bank11/30/2212/1/2212/30/224$1.20 $4.80 
MVBFMVB Financial11/30/2212/1/2212/15/224$0.17 $0.68 
MWAMueller Water Products11/9/2211/10/2211/21/224$0.06 $0.24 
NATINational Instruments11/4/2211/7/2211/28/224$0.28 $1.12 
NBHCNational Bank Holdings11/23/2211/25/2212/15/224$0.25 $1.00 
NEPNextEra Energy Partners11/3/2211/4/2211/14/224$0.79 $3.15 
NEUNewMarket12/14/2212/15/221/3/234$2.10 $8.40 
NINiSource10/28/2210/31/2211/18/224$0.23 $0.94 
NNINelnet11/30/2212/1/2212/15/224$0.26 $1.04 
NPOEnPro Indus11/29/2211/30/2212/14/224$0.28 $1.12 
NSANational Storage12/14/2212/15/2212/30/224$0.55 $2.20 
NSCNorfolk Southern11/3/2211/4/2211/21/224$1.24 $4.96 
NTAPNetApp10/6/2210/7/2210/26/224$0.50 $2.00 
NXRTNexPoint Residential12/14/2212/15/2212/30/224$0.42 $1.68 
OCOwens-Corning10/14/2210/17/2211/3/224$0.35 $1.40 
ODFLOld Dominion Freight Line12/6/2212/7/2212/21/224$0.30 $1.20 
OFLXOmega Flex10/11/2210/12/2210/24/224$0.32 $1.28 
OGSONE Gas11/14/2211/15/2212/1/224$0.62 $2.48 
OLEDUniversal Display12/15/2212/16/2212/30/224$0.30 $1.20 
OMCOmnicom Group9/20/229/21/2210/12/224$0.70 $2.80 
ORRFOrrstown Finl Servs10/28/2210/31/2211/7/224$0.19 $0.76 
OSKOshkosh11/10/2211/14/2211/28/224$0.37 $1.48 
OTTROtter Tail11/14/2211/15/2212/9/224$0.41 $1.65 
OTTWOttawa Bancorp11/29/2211/30/2212/14/224$0.11 $0.44 
OVLYOak Valley7/29/228/1/228/12/222$0.15 $0.30 
PEBOPeoples Bancorp11/4/2211/7/2211/21/224$0.38 $1.52 
PFISPeoples Financial Servs11/29/2211/30/2212/15/224$0.40 $1.60 
PHMPulteGroup9/21/229/22/2210/4/224$0.15 $0.60 
PKBKParke Bancorp9/8/229/9/229/23/224$0.18 $0.72 
PLDPrologis9/14/229/15/229/30/224$0.79 $3.16 
PRGSProgress Software11/30/2212/1/2212/15/224$0.17 $0.70 
PRKPark National11/17/2211/18/2212/9/224$1.04 $4.16 
PXDPioneer Natural Resources11/29/2211/30/2212/15/224$5.71 $25.44 
RCKYRocky Brands11/30/2212/1/2212/15/224$0.16 $0.62 
REXRRexford Industrial Realty12/29/2212/30/221/17/234$0.31 $1.26 
RMAXRE/MAX Hldgs11/15/2211/16/2211/30/224$0.23 $0.92 
RMRRMR Group10/21/2210/24/2211/17/224$0.40 $1.60 
RVSBRiverview Bancorp10/12/2210/13/2210/24/224$0.06 $0.24 
SAFESafehold9/29/229/30/2210/14/224$0.18 $0.71 
SAHSonic Automotive12/14/2212/15/221/13/234$0.28 $1.12 
SAMGSilvercrest Asset Mgmt12/8/2212/9/2212/16/224$0.18 $0.72 
SBFGSB Finl Gr11/9/2211/10/2211/25/224$0.12 $0.50 
SCVLShoe Carnival10/3/2210/4/2210/18/224$0.09 $0.36 
SFStifel Financial11/30/2212/1/2212/15/224$0.30 $1.20 
SFBCSound Financial Bancorp11/8/2211/9/2211/23/224$0.17 $0.68 
SFBSServisfirst Bancshares9/30/2210/3/2210/7/224$0.23 $0.92 
SHENShenandoah11/4/2211/7/2212/1/221$0.08 $0.08 
SIGISelective Insurance Gr11/14/2211/15/2212/1/224$0.30 $1.20 
SIMOSilicon Motion Technology8/10/228/11/228/25/224$0.50 $2.00 
SIRISirius XM Holdings11/9/2211/11/2211/30/224$0.02 $0.10 
SMMFSummit Finl Gr12/14/2212/15/2212/30/224$0.20 $0.80 
SNDRSchneider National12/8/2212/9/221/10/234$0.08 $0.32 
SNVSynovus Finl9/14/229/15/2210/3/224$0.34 $1.36 
SSDSimpson Manufacturing Co1/4/231/5/231/26/234$0.26 $1.04 
SSNCSS&C Technologies Hldgs11/30/2212/1/2212/15/224$0.20 $0.80 
STAGStag Industrial11/29/2211/30/2212/15/2212$0.12 $1.46 
STELStellar Bancorp12/14/2212/15/2212/30/224$0.13 $0.52 
STNStantec12/29/2212/30/221/17/234$0.13 $0.53 
STORSTORE Capital9/29/229/30/2210/17/224$0.41 $1.64 
STZConstellation Brands11/3/2211/4/2211/18/224$0.80 $3.20 
SUISun Communities9/29/229/30/2210/14/224$0.88 $3.52 
SWCHSwitch11/18/2211/21/2212/1/224$0.05 $0.21 
SWKSSkyworks Solutions11/21/2211/22/2212/13/224$0.62 $2.48 
TAITTaitron Components11/9/2211/11/2211/30/224$0.05 $0.20 
TCBKTriCo12/8/2212/9/2212/23/224$0.30 $1.20 
TFIITFI International12/29/2212/30/221/13/234$0.35 $1.40 
TFSLTFS Financial11/28/2211/29/2212/13/224$0.28 $1.13 
TKRTimken11/18/2211/21/2212/2/224$0.31 $1.24 
TMToyota Motor3/30/223/31/226/6/222$2.20 $4.41 
TMOThermo Fisher Scientific12/14/2212/15/221/16/234$0.30 $1.20 
TPBTurning Point Brands12/15/2212/16/221/6/234$0.06 $0.24 
TRTNTriton International12/7/2212/8/2212/22/224$0.70 $2.80 
TTECTTEC Holdings10/7/2210/11/2210/26/222$0.52 $1.04 
TTEKTetra Tech11/18/2211/21/2212/9/224$0.23 $0.92 
UBCPUnited Bancorp12/8/2212/9/2212/20/224$0.16 $0.64 
UCBIUnited Community Banks12/14/2212/15/221/5/234$0.22 $0.88 
UNFUniFirst12/6/2212/7/221/4/234$0.31 $1.24 
UNTYUnity Bancorp12/15/2212/16/2212/30/224$0.11 $0.44 
UTLUnitil11/10/2211/14/2211/28/224$0.39 $1.56 
VALUValue Line10/28/2210/31/2211/10/224$0.25 $1.00 
VICIVICI Properties9/21/229/22/2210/6/224$0.39 $1.56 
VMCVulcan Materials11/14/2211/15/2212/5/224$0.40 $1.60 
VRTSVirtus Investment10/28/2210/31/2211/15/224$1.65 $6.60 
VSECVSE11/1/2211/2/2211/16/224$0.10 $0.40 
VSHVishay Intertechnology11/29/2211/30/2212/15/224$0.10 $0.40 
VVVValvoline12/1/2212/2/2212/15/224$0.12 $0.50 
WDWalker & Dunlop11/23/2211/25/2212/9/224$0.60 $2.40 
WEYSWeyco Group11/25/2211/28/221/3/234$0.24 $0.96 
WGOWinnebago Industries9/13/229/14/229/28/224$0.27 $1.08 
WINAWinmark11/8/2211/9/2212/1/224$0.70 $2.80 
WINGWingstop11/9/2211/11/2212/2/224$0.19 $0.76 
WMBWilliams Companies12/8/2212/9/2212/26/224$0.43 $1.70 
WMSAdvanced Drainage Systems11/30/2212/1/2212/15/224$0.12 $0.48 
WSFSWSFS Financial11/3/2211/4/2211/18/224$0.15 $0.60 
WSOWatsco10/14/2210/17/2210/31/224$2.20 $8.80 
WSO.BWatsco10/14/2210/17/2210/31/224$2.20 $8.80 
WTFCWintrust Finl11/9/2211/10/2211/25/224$0.34 $1.36 
WTWWillis Towers Watson9/29/229/30/2210/17/224$0.82 $3.28 
WUThe Western Union9/15/229/16/229/30/224$0.23 $0.94 
YUMYum Brands11/23/2211/25/2212/9/224$0.57 $2.28 
Source: Stock Rover* (as of November 23, 2022)

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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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