Published on February 13th, 2025 by Bob Ciura
Spreadsheet data updated daily
The Dividend Kings are the best-of-the-best in dividend longevity.
What is a Dividend King? A stock with 50 or more consecutive years of dividend increases.
We’ve compiled a list that includes every Dividend King.
You can see the full downloadable spreadsheet of all 54 Dividend Kings (along with important financial metrics such as dividend yields, payout ratios, and price-to-earnings ratios) by clicking on the link below:
The Dividend Kings list includes several mega-cap stocks that have enormous businesses, such as Walmart Inc. (WMT) and Coca-Cola (KO).
And, there are many quality dividend stocks that have not yet reached the 50-year threshold. However, their strong business models and durable competitive advantages make it extremely likely they will become Dividend Kings.
The following 9 stocks have at least 45 years of dividend increases, meaning it’s just a matter of time until they reach the Dividend Kings list.
Table of Contents
- Dividend Kings Overview
- Dividend King In The Making: Franklin Resources (BEN)
- Dividend King In The Making: Sherwin-Williams Co. (SHW)
- Dividend King In The Making: Medtronic plc (MDT)
- Dividend King In The Making: The Clorox Company (CLX)
- Dividend King In The Making: Sonoco Products (SON)
- Dividend King In The Making: Carlisle Companies Inc. (CSL)
- Dividend King In The Making: Pentair plc (PNR)
- Dividend King In The Making: MGE Energy (MGEE)
- Dividend King In The Making: RLI Corp. (RLI)
Dividend Kings Overview
The requirements to be a Dividend King are relatively simple: 50 consecutive years of dividend increases. Unlike the Dividend Aristocrats, there are no other requirements.
There are currently 54 Dividend Kings.
The Dividend Kings are overweight in the Industrials, Consumer Staples, and Utilities sectors. At the same time, the Dividend Kings list is underweight the technology sector.
The following section lists 9 dividend stocks that should reach the Dividend Kings list within the next five years.
Dividend King In The Making: Franklin Resources (BEN)
- Years Of Dividend Increases: 45
Franklin Resources, founded in 1947 and headquartered in San Mateo, CA, is a global asset manager with a long and successful history.
The company offers investment management (which makes up the bulk of fees the company collects) and related services to its customers, including sales, distribution, and shareholder servicing.
On November 4th, 2024, Franklin Resources reported fourth quarter 2024 results for the period ending September 30th, 2024.
Total assets under management equaled $1.679 trillion, up $32 billion sequentially, as a result of $63.5 billion of net market change, distributions, and other, partly offset by 31.3 billion of long-term net outflows and $0.2 billion of cash management net outflows.
For the quarter, operating revenue totaled $2.211 billion, up 11% year-over-year. On an adjusted basis, net income equaled $315 million or $0.59 per share, a 30% decline from $0.84 in Q3 2023.
During Q4, Franklin repurchased 4.9 million shares of stock for $102.4 million.
Click here to download our most recent Sure Analysis report on BEN (preview of page 1 of 3 shown below):
Dividend King In The Making: Sherwin-Williams Co. (SHW)
- Years Of Dividend Increases: 46
Sherwin-Williams, founded in 1866, is North America’s largest manufacturer of paints and coatings.
The company distributes its products through wholesalers as well as retail stores (including a chain of more than 4,900 company-operated stores and facilities) to 120 countries under the Sherwin-Williams name.
The company also manufactures Dutch Boy, Pratt & Lambert, Minwax, Thompson’s Waterseal, Krylon, Valspar (acquired in 2017), and other brands.
On October 22nd, 2024, Sherwin-Williams released financial results for the third quarter of fiscal 2024. Sales edged up only 0.7% over last year’s quarter, primarily due to poor demand in Consumer Brands Group.
However, gross margin expanded from 47.7% to 49.1% thanks to price hikes and adjusted earnings-per-share grew 5%, from $3.20 to $3.37.
Sherwin-Williams reiterated its guidance for 2024. It expects sales to be up a low-single digit % and earnings-per-share of $11.10-$11.40.
As it has beaten the analysts’ estimates in 7 of the last 9 quarters and tends to issue somewhat cautious guidance, we have kept our forecast intact at $11.40 (high end).
Click here to download our most recent Sure Analysis report on SHW (preview of page 1 of 3 shown below):
Dividend King In The Making: Medtronic plc (MDT)
- Years Of Dividend Increases: 47
Medtronic, which has operations in more than 150 countries, is the world’s largest manufacturer of biomedical devices and implantable technologies.
The company consists of segments, including Cardiovascular, Medical Surgical, Neuroscience, and Diabetes.
Aging worldwide demographics should provide a tailwind to the company’s business as increased access to healthcare products and services becomes more necessary.
There are nearly 70 million Baby Boomers in the U.S. alone that will need increasing amounts of medical care as they age.
In mid-November, Medtronic reported (11/19/24) results for the second quarter of fiscal 2025.
Source: Investor Presentation
Organic revenue grew 5% over the prior year’s quarter thanks to broad-based growth in all the four segments. Earnings-per-share grew 1%, from $1.25 to $1.26, and exceeded the analysts’ consensus by $0.01.
As Medtronic performed slightly better than expected in the second quarter, it marginally raised its guidance for fiscal 2025.
Click here to download our most recent Sure Analysis report on Medtronic plc (MDT) (preview of page 1 of 3 shown below):
Dividend King In The Making: Clorox Company (CLX)
- Years Of Dividend Increases: 47
Clorox is a manufacturer and marketer of consumer and professional products, spanning a wide array of categories from charcoal to cleaning supplies to salad dressing.
More than 80% of its revenue comes from products that are #1 or #2 in their categories across the globe, helping Clorox produce more than $7 billion in annual revenue.
Source: Investor Presentation
Clorox posted fourth quarter and full-year earnings on February 3rd, 2025, and results were better than expected on both the top and bottom lines. Adjusted earnings-per-share came to $1.55, which was 15 cents ahead of expectations.
Revenue was off 15% year-over-year to $1.69 billion, but did at least beat estimates by $60 million. Gross margin was up 30 basis points to 43.8% of revenue from the year-ago quarter. This was primarily driven by cost savings and the benefits from the divestitures of the VMS and Argentina businesses.
The company expects sales for this fiscal year (which has two quarters remaining) to be between -1% and +2%. Organic sales are expected to be up 4% to 7%, excluding about 2% of negative impact from the Argentina business divestiture, and a further 3% from the VMS divestiture.
Click here to download our most recent Sure Analysis report on CLX (preview of page 1 of 3 shown below):
Dividend King In The Making: Sonoco Products (SON)
- Years Of Dividend Increases: 48
Sonoco Products provides packaging, industrial products and supply chain services to its customers. The markets that use the company’s products include those in the appliances, electronics, beverage, construction and food industries.
The company generates nearly $7 billion in annual sales. Sonoco Products is now composed of 2 major segments, Consumer Packaging, and Industrial Packaging, with all other businesses listed as “All Other”.
Source: Investor Presentation
On October 31st, 2024, Sonoco Products reported third quarter results for the period ending September 30th, 2024. For the quarter, revenue decreased 1.8% to $1.68 billion, which was $40 million below estimates. Adjusted earnings-per share of $1.49 compared favorably to $1.46 in the prior year and was $0.03 better than expected.
As with the prior quarter, results impacted by a divestiture and a closure of several plants. Prices were lower, but volume was up. For the quarter, Consumer Packaging revenues of $984 million was largely unchanged from the prior year.
Volume for metal aerosol cans and flexible packaging were offset by the closure of a thermoformed food packaging plant and lower prices. Industrial Paper Packing sales grew 1% to $585 million as this segment benefited from higher prices.
Click here to download our most recent Sure Analysis report on Sonoco (SON) (preview of page 1 of 3 shown below):
Dividend King In The Making: Carlisle Companies Inc. (CSL)
- Years Of Dividend Increases: 48
Carlisle Companies is a diversified company that is active in a wide array of niche markets.
The segments in which the company produces and sells products include construction materials (roofing, waterproofing, etc.), interconnecting technologies (wires, cables, etc.), fluid technologies, and brake & friction.
Carlisle Companies reported its third quarter earnings results on October 24. The company reported revenues of $1.3 billion for the quarter, which was up 6% year-over-year. A weaker housing market was a bit of a headwind during the period.
Carlisle Companies generated earnings-per-share of $5.78 during the third quarter, missing the consensus analyst estimate slightly, by $0.04. Earnings-per-share rose 24% year-over-year, as margin improvements and higher revenues made profits rise substantially.
Cost-saving measures were a positive factor, and share repurchases also had a positive impact on the company’s earnings-per-share growth rate during the period.
Click here to download our most recent Sure Analysis report on CSL (preview of page 1 of 3 shown below):
Dividend King In The Making: Pentair plc (PNR)
- Years Of Dividend Increases: 48
Pentair is a water solutions company that operates in 3 segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. It was founded in 1966.
The company has increased its dividend for more than four decades in a row, when adjusted for spin-offs. Pentair is one of the top water stocks.
Pentair reported its third quarter earnings results on October 22. The company was able to generate revenues of $990 million during the quarter, down 2% year-over-year.
Source: Investor Presentation
Core sales, which exclude the impact of currency rate movements, acquisitions, and dispossessions, were down 1% year over year.
Pentair recorded earnings-per-share of $1.09 for the third quarter, which was up 16% year-over-year. Pentair’s earnings-per-share beat the analyst consensus by $0.02.
Click here to download our most recent Sure Analysis report on Pentair (preview of page 1 of 3 shown below):
Dividend King In The Making: MGE Energy (MGEE)
- Years Of Dividend Increases: 49
MGE Energy has grown from a small power station in Wisconsin built in 1902 to an integrated energy company. The company has paid consecutive dividends for more than 100 years.
MGE principally operates gas and electric utilities, in addition to transmission and construction businesses.
MGE Energy, Inc. (MGEE) reported solid Q3 results as it continues to invest in growing its natural gas and electricity generation businesses while transitioning away from coal-powered power generation towards renewable power generation.
It grew its diluted earnings per share from $1.05 to $1.13 year-over-year for the quarter thanks to improved earnings from both its electric and gas utilities along with slight growth in its non-regulated energy and transmission businesses.
Year-to-date, the company has also grown its diluted earnings per share, albeit only slightly, from $2.70 in 2023 to $2.72 this year.
The performance in its electric utility has been flat and its gas utility earnings have declined year-over-year, but its non-regulated energy and transmission businesses have shown solid growth.
The company’s electric utility revenue mix is 53% commercial, 36% residential, 3% industrial, and 8% other. Its gas utility revenue mix is 58% residential, 38% commercial/industrial, and 4% other.
Click here to download our most recent Sure Analysis report on MGEE (preview of page 1 of 3 shown below):
Dividend King In The Making: RLI Corp. (RLI)
- Years Of Dividend Increases: 49
RLI Corp. is an insurance company that operates the following business units: Casualty (healthcare & transportation insurance), Property (fire, earthquake, difference in conditions, marine, etc.) and Surety (contract surety coverage, licenses, and bonds).
Source: Investor Presentation
RLI Corporation reported its fourth quarter earnings results on January 22. The company reported revenues of $440 million for the quarter, which was up 1% year-over-year. Net earned premiums rose by 15% year-over-year.
Realized gains were higher than during the previous year’s period, which had a positive impact on the company’s reported revenues, but net unrealized gains were lower compared to the previous year’s quarter, offset some of the revenue tailwinds.
Higher net investment income, which was up 19% year over year, was a tailwind for RLI’s profitability during the quarter.
RLI Corporation earned $0.41 per share on a non-GAAP, or adjusted, basis during the quarter.
Click here to download our most recent Sure Analysis report on RLI (preview of page 1 of 3 shown below):
Additional Reading
Screening to find the best Dividend Kings is not the only way to find high-quality dividend growth stock ideas.
Sure Dividend maintains similar databases on the following useful universes of stocks:
- The High Yield Dividend Kings List is comprised of the 20 Dividend Kings with the highest current yields.
- The Dividend Aristocrats: S&P 500 stocks with 25+ years of consecutive dividend increases.
- The Complete List of High Dividend Stocks: Stocks with 5%+ dividend yields.
- The Complete List of Monthly Dividend Stocks: our database currently contains roughly 80 stocks that pay dividends every month.