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The Best DRIP Stocks Now | 15 No-Fee Dividend Champions


Updated on December 26th, 2025 by Bob Ciura

DRIP stands for Dividend Reinvestment Plan. When an investor is enrolled in DRIP stocks, it means that incoming dividend payments are used to purchase more shares of the issuing company – automatically.

Many businesses offer DRIPs that require the investors to pay fees. Obviously, paying fees is a negative for investors. As a general rule, investors are better off avoiding DRIP stocks that charge fees.

Fortunately, many companies offer no-fee DRIP stocks. These allow investors to use their hard-earned dividends to build even larger positions in their favorite high-quality, dividend-paying companies – for free.

The Dividend Champions are a group of quality dividend stocks that have raised their dividends for at least 25 consecutive years.

You can download your free copy of the Dividend Champions list, along with relevant financial metrics like price-to-earnings ratios, dividend yields, and payout ratios, by clicking on the link below:

 

Click here to instantly download your free spreadsheet of all Dividend Champions now, along with important investing metrics.

Think about the powerful combination of DRIPs and Dividend Champions…

You are reinvesting dividends into a company that pays higher dividends every year. This means that every year you get more shares – and each share is paying you more dividend income than the previous year.

This makes a powerful (and cost-effective) compounding machine.

This article takes a look at the top 15 Dividend Champions that are no-fee DRIP stocks, ranked in order of expected total returns from lowest to highest.

The updated list for 2025 includes our top 15 Dividend Champions, ranked by expected returns according to the Sure Analysis Research Database, that offer no-fee DRIPs to shareholders.

You can skip to analysis of any individual Dividend Champion below:

Additionally, please see the video below for more coverage.

#15: Northwest Natural Holding (NWN)

NW Natural was founded in 1859 and has grown from just a handful of customers to serving more than 760,000 today. The utility’s mission is to deliver natural gas to its customers in the Pacific Northwest.

The company’s locations served are shown in the image below.

On November 5th, 2025 the company reported results for the third quarter of fiscal 2025. The company posted a net loss of $0.73 per share for Q3, nearly unchanged from a $0.71 per share loss in the same quarter a year ago.

On a year-to-date basis covering the first nine months of 2025 the firm achieved net income of $1.36 per share, up from $0.88 per share in the prior year, with an adjusted net income of $1.52 per share.

Revenue for the nine-month period rose to approximately $895.2 million from about $782.1 million a year earlier, reflecting the impact of acquisitions and rate increases.

Click here to download our most recent Sure Analysis report on NWN (preview of page 1 of 3 shown below):

#14: Emerson Electric (EMR)

Johnson & Johnson is a diversified health care company and a leader in the area of innovative medicines and medical devices Johnson & Johnson was founded in 1886.

Emerson posted fourth quarter and full-year earnings on November 5th, 2025, and results were weaker than expected. The company posted $1.62 in adjusted earnings-per-share, which met estimates. Net income was $653 million in Q4, up from $566 million a year ago.

However, revenue missed expectations by $40 million, despite rising more than 5% year-over-year to $4.86 billion. EBITDA for the quarter was up 10% year-over-year to $1.33 billion, on margin of 27.5% of revenue. Operating cash flow was down 6% in Q4 to $1.01 billion, and underlying order growth was 4%, down from 6% growth prior.

Emerson boosted its dividend once again, this time adding 5% to a new payout of $2.22 per share annually. That’s the 69th consecutive annual increase in the payout.

In addition, the share repurchase authorization was boosted by 50 million shares, or about 9% of the float. .

Click here to download our most recent Sure Analysis report on EMR (preview of page 1 of 3 shown below):

#13: A.O. Smith (AOS)

A.O. Smith is a leading manufacturer of residential and commercial water heaters, boilers and water treatment
products. It generates two-thirds of its sales in North America, and most of the rest in China.

A.O. Smith has raised its dividend for 30 years in a row, making the company a Dividend Aristocrat. The company was founded in 1874 and is headquartered in Milwaukee, WI.

When A.O. Smith reported its third quarter earnings results, the company showed revenues of $940 million, which represents an increase of 4% compared to the prior year’s quarter.

Revenues were up by 6% in North America, while the international business saw a revenue decline of 1% compared to the previous year’s quarter, mainly due to China sales being down.

A.O. Smith generated earnings-per-share of $0.94 during the third quarter, which was up 15% on a year over year basis. Slightly higher revenues were turned into compelling earnings growth thanks to higher margins and buybacks.

A.O. Smith updated its guidance for 2025: The company is forecasting earnings-per-share in a range of $3.70 to $3.85, which reflects that management expects earnings-per-share to be up slightly this year.

Click here to download our most recent Sure Analysis report on AOS (preview of page 1 of 3 shown below):

#12: California Water Service (CWT)

California Water Service is the 3rd largest publicly-owned water utility in the United States. The company has six subsidiaries that provide water to about two million people, mainly in California, with some additional operations in Washington, New Mexico, and Hawaii.

California Water Service reported its third quarter earnings results on October 30. The company reported that its operating revenues totaled $311 million during the quarter, which was 4% more than the revenues that California Water Service generated during the previous year’s quarter. This represents a weaker performance compared to what the analyst community had forecast.

The revenue increase was caused by a combination of higher rates, which more than offset lower customer water usage, which was down by 3%. California Water Service generated earnings-per-share of $1.03 during the third quarter.

CWT has increased its dividend for 58 consecutive years.

Click here to download our most recent Sure Analysis report on CWT (preview of page 1 of 3 shown below):

#11: Realty Income (O)

Realty Income is a retail real estate focused REIT that has become famous for its successful dividend growth history and monthly dividend payments. Today, the trust owns thousands of properties.

Realty Income owns retail properties that are not part of a wider retail development (such as a mall), but instead are standalone properties. This means that the properties are viable for many different tenants, including government services, healthcare services, and entertainment.

On November 3, 2025, Realty Income Corporation reported third-quarter 2025 results including revenue of $1.47 billion, exceeding consensus estimates and year-ago levels.

The company posted net income of approximately $315.8 million for the quarter. Same-store rental revenue rose 1.3% year-over-year to $1,162.3 million, and the rent recapture rate on re-leased units was 103.5% for both the quarter and the nine-month period ended September 30, 2025.

Investment activity was strong, with $200 million in U.S. wholly-owned acquisitions during Q3 (47 properties, 12.2-year weighted average term) and $623.2 million across 105 properties year-to-date (15.3-year term) in total.

The company raised the lower bound of its 2025 AFFO per share guidance to $4.25–$4.27 (mid-point unchanged) and increased investment-volume guidance to approximately $5.5 billion.

Click here to download our most recent Sure Analysis report on O (preview of page 1 of 3 shown below):

#10: Universal Corporation (UVV)

Universal Corporation is the world’s largest leaf tobacco exporter and importer. The company is the wholesale purchaser and processor of tobacco that operates between farms and the companies that manufacture cigarettes, pipe tobacco, and cigars.

Universal Corporation was founded in 1886 and is headquartered in Richmond, Virginia. With 55 years of dividend increases, Universal Corporation is a Dividend King.

Universal Corporation reported its second quarter earnings results in November. The company generated revenue of $754 million during the quarter, which was considerably more than the revenues that Universal Corporation generated during the previous period.

Revenues were also up on a year-over-year basis. Since Universal Corporation’s business results depend on weather to some degree, ups and downs in its quarterly results are to be expected. Universal’s cost of goods sold was up versus the previous year’s quarter.

Universal’s adjusted earnings-per-share totaled $1.36 during the quarter. In fiscal 2025, Universal Corporation saw its earnings-per-share pull back by close to 10%.

Click here to download our most recent Sure Analysis report on UVV (preview of page 1 of 3 shown below):

#9: Illinois Tool Works (ITW)

Illinois Tool Works is a diversified multi-industrial manufacturer with seven unique operating segments: Automotive, Food Equipment, Test & Measurement, Welding, Polymers & Fluids, Construction Products and Specialty Products.

Last year the company generated $15.9 billion in revenue. The $72 billion market cap company is geographically diversified, with more than half of its revenue generated outside of the United States.

Illinois Tool Works is a member of the Dividend Aristocrats Index and is a Dividend King.

On October 24th, 2025, Illinois Tool Works reported third quarter 2025 results for the period ending September 30, 2025. For the quarter, revenue came in at $4.1 billion, rising 2% year-over-year. Sales increased 7.3% in the Automotive OEM segment, the largest out of the company’s seven segments.

Furthermore, its Construction Products and Polymers & Fluids segments saw revenue decline 1.4% and 1.8%, respectively. Meanwhile, Test & Measurement and Electronics, Food Equipment, Welding, and Specialty Products had revenue growth of 0.3%, 2.5%, 3.3%, and 3.3%, respectively.

Net income equaled $821 million or $2.81 per share compared to $1,160 million or $3.91 per share in Q3 2024. In the third quarter, ITW repurchased $375 million of its shares.

Illinois Tool Works narrowed its 2025 guidance again, now expecting full-year GAAP EPS to be $10.40 to $10.50. It also still expects to repurchase approximately $1.5 billion of its common stock this year.

Click here to download our most recent Sure Analysis report on ITW (preview of page 1 of 3 shown below):

#8: Arrow Financial Corporation (AROW)

Arrow Financial Corporation is a multi-bank holding company based in Glen Falls, New York. The company operates through two main subsidiary banks, the Glens Falls National Bank and Trust Company, and the Saratoga National Bank and Trust Company.

Arrow Financial Corporation is also the parent company of North Country Investment Advisers and Update Agency, an insurance agency. The company is a small cap, and it produces about $163 million in annual revenue.

Arrow posted second quarter earnings on July 24th, 2025, and results were good. Earnings were 65 cents per share, while revenue soared 15% higher year-over-year to $40.14 million. Net interest income was a record at $32.5 million, while net income came to $10.8 million.

Net interest margin was 3.15%, which was up from 3.07% in Q1. The bank’s loan-to-deposit ratio was 87.2%. Quarter end loan exit rates were up to 5.51% from 5.45% in March.

The bank repurchased 196,497 shares for an average of $26.06 per share, or about $5.1 million. Arrow has $5 million in remaining share repurchases on its authorization. Tangible book value ended the quarter at $23.23 per share.

Arrow boosted its dividend by 3.6% to 28 cents per share quarterly, its 29th consecutive year of dividend increases.

Click here to download our most recent Sure Analysis report on AROW (preview of page 1 of 3 shown below):

#7: Universal Health Realty Trust (UHT)

Universal Health Realty Income Trust operates as a real estate investment trust (REIT), specializing in the healthcare sector. The trust owns healthcare and human service-related facilities.

Its property portfolio includes acute care hospitals, medical office buildings, rehabilitation hospitals, behavioral healthcare facilities, sub-acute care facilities and childcare centers. Universal Health’s portfolio consists of 76 properties located in 21 states.

On October 27, 2025, Universal Health Realty Income Trust (UHT) reported third quarter 2025 net income of $4.0 million, or $0.29 per diluted share, unchanged from the same quarter in 2024.

Results included a one-time $275,000 gain ($0.02 per share) from a settlement and release agreement related to one of its medical office buildings, partially offset by a $256,000 decrease in aggregate property income, which included $900,000 of nonrecurring depreciation expense.

Funds from operations (FFO) rose to $12.2 million, or $0.88 per diluted share, up from $11.3 million, or $0.82 per share, in the prior year period.

Click here to download our most recent Sure Analysis report on UHT (preview of page 1 of 3 shown below):

#6: National Fuel Gas (NFG)

National Fuel Gas Co. is a diversified energy company that operates in four business segments: Upstream & Gathering, Pipeline & Storage, Utility, and Energy Marketing.

The largest segment of the company is Exploration & Production. With 55 years of consecutive dividend increases, National Fuel Gas qualifies to be a Dividend King.

In early November, National Fuel Gas reported (11/5/25) financial results for the fourth quarter of fiscal 2025. The company grew its production 21% over the prior year’s quarter, primarily thanks to strong performance in new pads.

In addition, the average realized price of natural gas grew 9%, from $2.40 to $2.61. As a result, earnings-per-share surged 58%, from $0.77 to $1.22, and exceeded the analysts’ consensus by $0.11.

The company has beaten the analysts’ estimates in 22 of the last 26 quarters. National Fuel Gas provided strong guidance for fiscal 2026, expecting earnings-per-share of $7.60-$8.10.

Accordingly, we expect earnings-per-share of $7.90. If this proves correct, it will mark 14% growth of earnings-per-share over the previous year.

Click here to download our most recent Sure Analysis report on NFG (preview of page 1 of 3 shown below):

#5: Hormel Foods (HRL)

Hormel Foods was founded in 1891 in Minnesota. Since that time, the company has grown into a $13 billion market capitalization juggernaut in the food products industry with about $12 billion in annual revenue.

Hormel has kept its core competency as a processor of meat products for well over a hundred years but has also grown into other business lines through acquisitions.

The company sells its products in 80 countries worldwide, and its brands include Skippy, SPAM, Applegate, Justin’s, and more than 30 others. In addition, Hormel is a member of the Dividend Kings, having increased its dividend for 60 consecutive years.

Hormel posted fourth quarter and full-year earnings on December 4th, 2025.

Source: Investor Presentation

The company saw 32 cents in adjusted earnings-per-share for the quarter, beating estimates by two cents. Revenue was up 1.6% year-over-year and missed estimates by $30 million, coming in at $3.19 billion.

Adjusted operating margin was 7.7% of revenue, while cash flow from operations was $323 million. Volumes in the fourth quarter were flat in the retail segment, down 5% in foodservice, and down 7% in the international segment.

Hormel raised its dividend for the 60th consecutive year, this time adding 0.9% to a new payout of $1.20 per share annually. We start 2026 with an estimate of $1.47 in adjusted earnings-per-share.

Click here to download our most recent Sure Analysis report on HRL (preview of page 1 of 3 shown below):

#4: S&P Global (SPGI)

S&P Global is a worldwide provider of financial services and business information with revenue of over $15 billion. Through its various segments, it provides credit ratings, benchmarks and indices, analytics, and other data to commodity market participants, capital markets, and automotive markets.

S&P Global has paid dividends continuously since 1937 and has increased its payout for 52 consecutive years, and it is one of the newest members of the prestigious Dividend Kings.

S&P posted third quarter earnings on October 30th, 2025. The company saw adjusted earnings-per-share of $4.73, which was 32 cents ahead of estimates.

Earnings were up sharply from $3.89 a year ago. Revenue was up almost 9% year-on-year to $3.89 billion, beating estimates by $60 million.

Expenses were $2.22 billion, flat to the prior quarter, and up from $2.17 billion a year ago. Adjusted operating margin expanded once again to 52.1% of revenue.

The company entered into an agreement to buy private firm With Intelligence for $1.8 billion. The transaction is expected to close late this year or early next year, and should be slightly dilutive to EPS in 2026, followed by accretion in the years after.

Click here to download our most recent Sure Analysis report on SPGI (preview of page 1 of 3 shown below):

#3: Tompkins Financial (TMP)

Tompkins Financial is a regional financial services holding company headquartered in Ithaca, NY that can trace its roots back more than 180 years. It has total assets of about $8 billion, which produce about $300 million in annual revenue.

The company offers a wide range of services, including checking and deposit accounts, time deposits, loans, credit cards, insurance services, and wealth management to its customers in New York and Pennsylvania.

Tompkins posted third quarter earnings on October 24th, 2025, and results were better than expected on both the top and bottom lines. Earnings-per-share came to $1.65, which was 14 cents ahead of estimates. Revenue was up 14% year-on-year to $87.4 million, beating estimates by $2.74 million.

Net interest margin was 3.20%, up 12 basis points from the second quarter, and up 41 basis points from the year-ago period. Total loans were $115 million higher, or 1.9%, compared to Q2.

Total loans were up $407 million, or 6.9%, year-over-year. Total deposits were up $337 million, or 5%, from Q2. Deposits rose $475 million, or 7.2%, year-over-year.

Total average cost of funds was 1.83%, flat to Q2, but 18 basis points better than last year’s Q3. Loan-to-deposit ratio ended the quarter at 89.2%, down from 91.9% in June, and flat to the 89.4% in the year-ago period.

Tompkins boosted its dividend by 4.8% to a new payout of $2.60 annually, its 39th consecutive year of dividend increases.

Click here to download our most recent Sure Analysis report on TMP (preview of page 1 of 3 shown below):

#2: New Jersey Resources (NJR)

New Jersey Resources provides natural gas and clean energy services, transportation, distribution, asset management and home services through its five main subsidiaries. The company owns both regulated and non-regulated operations.

NJR’s principal subsidiary, New Jersey Natural Gas (NJNG), owns and operates natural gas transportation and distribution infrastructure serving over half a million customers.

NJR Clean Energy Ventures (CEV) invests in and operates solar projects, to provide customers with low-carbon solutions.

NRJ Energy Services manages a portfolio of natural gas transportation and storage assets, as well as provides physical natural gas services to customers in North America.

New Jersey Resources was founded in 1952 and has paid a quarterly dividend since. The company has increased its annual dividend for 30 consecutive years.

New Jersey Resources reported fourth quarter 2025 results on November 19th, 2025. Consolidated net financial earnings (NFE) amounted to $16.2 million, compared to $88.7 million in Q4 2024 and NFE per share of $0.16 compared to $0.89 per share one year ago.

Management introduced its guidance for fiscal 2026, seeing NFEPS in the range of $3.03 to $3.18.

Click here to download our most recent Sure Analysis report on NJR (preview of page 1 of 3 shown below):

#1: Nordson Corporation (NDSN)

Nordson has operations in over 35 countries and engineers, manufactures, and markets products used for dispensing adhesives, coatings, sealants, biomaterials, plastics, and other materials, with applications ranging from diapers and straws to cell phones and aerospace.

The company generated $2.7 billion in sales last fiscal year.

On December 10th, 2025, Nordson reported fourth quarter results for the period ending October 31, 2025. For the quarter, the company reported sales of $752 million, 1% higher compared to $744 million in Q4 2024, driven by a 2% favorable forex translation and 1% positive acquisition impact.

The Medical and Fluid Solutions segment saw sales increase by 10%, while Industrial Precision Solutions and Advanced Technology revenue fell 2% and 4%, respectively.

The company generated adjusted earnings per share of $3.03, a 9% increase compared to the same prior year period..

Click here to download our most recent Sure Analysis report on NDSN (preview of page 1 of 3 shown below):

Final Thoughts and Additional Resources

Enrolling in DRIP stocks can be a great way to compound your portfolio income over time. Additional resources are listed below for investors interested in further research for DRIP stocks.

For dividend growth investors interested in DRIP stocks, the 15 companies mentioned in this article are a great place to start. Each business is very shareholder friendly, as evidenced by their long dividend histories and their willingness to offer investors no-fee DRIP stocks.

At Sure Dividend, we often advocate for investing in companies with a high probability of increasing their dividends each and every year.

If that strategy appeals to you, it may be useful to browse through the following databases of dividend growth stocks:

Thanks for reading this article. Please send any feedback, corrections, or questions to support@suredividend.com.



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