Dividend Challengers

This is the current list of Dividend Challengers. These are companies that have increased their dividend payment for 5-9 consecutive years. Unlike dividend achievers, a group of companies that have increased their dividend for at least 10 consecutive years, the only requirement to be a dividend challenger is that a company has increased its dividend. Learn why dividend challengers may be future dividend stars in the making.

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Country
Market Cap
Stock Type
Consensus Rating
CompanyCurrent PriceDividend YieldAnnual PayoutPayout Ratio3-Year Dividend GrowthYears of Dividend GrowthEx-Dividend Date
GOLF
Acushnet
$49.62
-1.0%
1.45 %$0.7233.18 %N/A59/1/2022
AL
Air Lease
$37.97
-0.8%
1.95 %$0.74-64.35 %15.64 %89/9/2022
ALLE
Allegion
$102.87
+0.6%
1.59 %$1.6431.54 %N/A8N/A
ALLY
Ally Financial
$33.47
+2.7%
3.59 %$1.2017.29 %N/A6N/A
DOX
Amdocs
$87.04
-0.2%
1.82 %$1.5836.24 %N/A99/29/2022
AEE
Ameren
$91.89
+0.6%
2.57 %$2.3660.51 %5.99 %9N/A
AMSF
AMERISAFE
$46.78
-0.4%
2.65 %$1.2452.10 %N/A99/8/2022
AMAT
Applied Materials
$107.83
-1.7%
0.96 %$1.0413.87 %N/A58/24/2022
ABR
Arbor Realty Trust
$16.03
+2.4%
9.48 %$1.5274.88 %6.89 %88/12/2022
AY
Atlantica Sustainable Infrastructure
$34.68
-0.5%
5.07 %$1.76-1,100.00 %8.84 %68/30/2022
BAX
Baxter International
$59.71
+1.9%
1.94 %$1.1658.00 %14.12 %79/1/2022
BWXT
BWX Technologies
$55.94
-0.4%
1.57 %$0.8827.94 %N/A7N/A
CABO
Cable One
$1,335.35
-2.7%
0.82 %$11.0019.36 %N/A5N/A
CCBG
Capital City Bank Group
$32.64
-1.5%
1.96 %$0.6432.16 %N/A7N/A
CSWC
Capital Southwest
$20.39
+0.7%
9.42 %$1.92150.00 %N/A69/14/2022
CTRE
CareTrust REIT
$21.87
+3.6%
5.03 %$1.101,571.43 %N/A8N/A
CDW
CDW
$178.58
-0.6%
1.12 %$2.0027.21 %N/A88/24/2022
CQP
Cheniere Energy Partners
$46.22
+0.8%
6.71 %$3.10176.14 %N/A6N/A
CHCO
City
$86.04
-0.6%
2.79 %$2.4040.47 %N/A9N/A
CCMP
CMC Materials
$173.69
flat
1.06 %$1.8448.17 %N/A5N/A
CGNX
Cognex
$47.91
-0.1%
0.54 %$0.2617.81 %N/A78/18/2022
CBAN
Colony Bankcorp
$14.28
+0.3%
3.01 %$0.4333.59 %27.03 %5N/A
CHCT
Community Healthcare Trust
$40.06
+0.6%
4.39 %$1.76207.06 %N/A78/11/2022
COP
ConocoPhillips
$93.63
+0.8%
1.97 %$1.8415.19 %18.90 %58/15/2022
CUZ
Cousins Properties
$29.26
+1.0%
4.37 %$1.2867.37 %6.04 %5N/A
CCI
Crown Castle International
$179.24
+0.5%
3.28 %$5.88165.17 %N/A79/14/2022
CSGS
CSG Systems International
$56.30
+2.3%
1.88 %$1.0675.71 %N/A9N/A
DHI
D.R. Horton
$77.26
+1.2%
1.16 %$0.905.78 %N/A7N/A
DHR
Danaher
$286.99
-1.0%
0.35 %$1.0011.78 %9.49 %6N/A
DKL
Delek Logistics Partners
$50.88
+1.2%
7.74 %$3.94109.14 %7.02 %9N/A
DVN
Devon Energy
$57.52
+1.5%
8.83 %$5.0864.47 %79.80 %59/9/2022
DKS
DICK'S Sporting Goods
$101.66
+4.0%
1.92 %$1.9515.07 %99.07 %8N/A
DG
Dollar General
$255.30
+0.9%
0.86 %$2.2022.56 %N/A8N/A
DGICA
Donegal Group
$14.60
+0.9%
4.52 %$0.66550.00 %N/A9N/A
DRE
Duke Realty
$62.04
-0.1%
1.81 %$1.1244.98 %8.64 %7N/A
LLY
Eli Lilly and
$302.50
+0.4%
1.30 %$3.9262.52 %14.81 %88/12/2022
NPO
EnPro Industries
$98.20
-0.4%
1.14 %$1.1213.01 %N/A78/30/2022
ETR
Entergy
$118.22
+0.4%
3.42 %$4.0466.78 %2.54 %78/10/2022
EFSC
Enterprise Financial Services
$46.51
-0.6%
1.89 %$0.8821.31 %N/A59/14/2022
EVA
Enviva
$74.46
+5.5%
4.86 %$3.62N/AN/A78/12/2022
EQIX
Equinix
$697.02
-0.1%
1.78 %$12.40176.39 %N/A78/16/2022
FMAO
Farmers & Merchants Bancorp
$29.77
+0.3%
2.55 %$0.7632.07 %8.23 %7N/A
FMNB
Farmers National Banc
$14.24
+1.8%
4.49 %$0.6438.10 %N/A7N/A
BUSE
First Busey
$24.05
-0.2%
3.83 %$0.9245.32 %N/A5N/A
FCF
First Commonwealth Financial
$14.56
-0.1%
3.30 %$0.4835.56 %9.14 %6N/A
FR
First Industrial Realty Trust
$53.26
+0.5%
2.22 %$1.1850.21 %7.47 %9N/A
FIBK
First Interstate BancSystem
$40.30
-0.7%
4.07 %$1.6490.11 %N/A98/8/2022
FSFG
First Savings Financial Group
$23.79
0.0%
2.19 %$0.5219.85 %N/A9N/A
FSV
FirstService
$132.48
+0.7%
0.61 %$0.8128.62 %10.57 %7N/A
FBHS
Fortune Brands Home & Security
$68.08
+1.2%
1.65 %$1.1220.25 %N/A88/25/2022
FCPT
Four Corners Property Trust
$28.92
+1.1%
4.60 %$1.33109.92 %N/A5N/A
FNV
Franco-Nevada
$130.91
+2.0%
0.98 %$1.2832.82 %6.88 %9N/A
FSBW
FS Bancorp
$30.71
+2.3%
2.61 %$0.8022.10 %N/A98/10/2022
GRMN
Garmin
$98.55
+1.0%
2.96 %$2.9255.73 %N/A59/14/2022
GRMN
Garmin
$98.55
+1.0%
2.96 %$2.9255.73 %N/A59/14/2022
G
Genpact
$46.62
-0.6%
1.07 %$0.5027.78 %N/A59/8/2022
GTY
Getty Realty
$29.01
+1.4%
5.65 %$1.6495.91 %6.45 %99/21/2022
GILD
Gilead Sciences
$61.60
+0.8%
4.74 %$2.9289.02 %N/A79/14/2022
LAND
Gladstone Land
$26.43
+2.0%
2.08 %$0.55-189.66 %N/A88/22/2022
GNTY
Guaranty Bancshares
$35.91
-0.8%
2.45 %$0.8826.83 %13.62 %5N/A
HLNE
Hamilton Lane
$73.46
+0.1%
2.18 %$1.6038.93 %18.81 %59/14/2022
HTLF
Heartland Financial USA
$45.21
+0.0%
2.39 %$1.0823.08 %N/A58/11/2022
HFWA
Heritage Financial
$25.66
-0.5%
3.27 %$0.8438.01 %N/A8N/A
HESM
Hess Midstream
$28.59
+0.3%
7.76 %$2.22118.09 %N/A5N/A
HIW
Highwoods Properties
$33.63
+1.3%
5.95 %$2.0073.26 %1.94 %58/19/2022
HTH
Hilltop
$28.30
+0.0%
2.12 %$0.6022.56 %N/A58/11/2022
HLI
Houlihan Lokey
$85.84
+0.2%
2.47 %$2.1234.25 %N/A89/1/2022
IBCP
Independent Bank
$20.50
+0.5%
4.29 %$0.8831.88 %N/A8N/A
IBTX
Independent Bank Group
$71.39
-0.6%
2.13 %$1.5231.02 %N/A5N/A
IIPR
Innovative Industrial Properties
$93.65
-0.8%
7.47 %$7.00137.80 %N/A5N/A
INTC
Intel
$35.38
0.0%
4.13 %$1.4631.26 %N/A8N/A
ICE
Intercontinental Exchange
$104.30
-0.7%
1.46 %$1.5225.46 %N/A89/15/2022
ISTR
Investar
$22.29
+1.6%
1.62 %$0.3622.36 %N/A8N/A
INVH
Invitation Homes
$37.92
+0.1%
2.32 %$0.88154.39 %N/A58/8/2022
KAI
Kadant
$191.35
-1.8%
0.54 %$1.0410.84 %4.35 %9N/A
KRNY
Kearny Financial
$11.86
+0.1%
3.71 %$0.4446.81 %N/A58/9/2022
KRC
Kilroy Realty
$51.85
+0.6%
4.01 %$2.08126.06 %4.45 %6N/A
KMI
Kinder Morgan
$17.68
+1.2%
6.28 %$1.11103.74 %13.94 %5N/A
KNSL
Kinsale Capital Group
$261.27
+2.7%
0.20 %$0.528.35 %5,714.29 %5N/A
LRCX
Lam Research
$509.54
-2.0%
1.18 %$6.0018.32 %N/A7N/A
LSTR
Landstar System
$154.84
+0.6%
0.65 %$1.008.36 %N/A8N/A
LCII
LCI Industries
$130.41
+0.8%
3.22 %$4.2021.56 %N/A6N/A
MANT
ManTech International
$95.71
-0.1%
1.71 %$1.6455.22 %N/A5N/A
MLM
Martin Marietta Materials
$353.22
-0.8%
0.69 %$2.4419.11 %8.65 %6N/A
MAS
Masco
$52.98
+0.5%
2.11 %$1.1231.11 %16.14 %98/11/2022
MPW
Medical Properties Trust
$16.18
+1.9%
7.17 %$1.1658.00 %3.85 %8N/A
MBWM
Mercantile Bank
$34.44
-0.5%
3.60 %$1.2439.24 %N/A89/1/2022
MBIN
Merchants Bancorp
$27.75
+1.7%
1.01 %$0.285.53 %14.47 %5N/A
MET
MetLife
$62.94
-0.6%
3.18 %$2.0049.75 %4.60 %58/8/2022
MSBI
Midland States Bancorp
$26.79
+0.7%
4.33 %$1.1630.77 %8.37 %6N/A
MPWR
Monolithic Power Systems
$535.52
+0.6%
0.56 %$3.0043.04 %N/A5N/A
MPLX
Mplx
$30.59
+1.4%
9.22 %$2.8290.10 %N/A8N/A
MSCI
MSCI
$500.82
+0.9%
0.83 %$4.1642.80 %N/A88/11/2022
MWA
Mueller Water Products
$11.85
+0.2%
1.94 %$0.2341.07 %3.70 %78/9/2022
MVBF
MVB Financial
$33.30
-1.7%
2.04 %$0.6831.78 %66.75 %6N/A
NATI
National Instruments
$39.53
+0.4%
2.83 %$1.12143.59 %N/A9N/A
NSA
National Storage Affiliates Trust
$54.43
+2.0%
4.04 %$2.20222.22 %N/A8N/A
NNI
Nelnet
$93.33
+0.1%
1.03 %$0.968.06 %10.89 %7N/A
NXRT
NexPoint Residential Trust
$62.07
+0.0%
2.45 %$1.52187.65 %N/A69/14/2022
NXST
Nexstar Media Group
$195.84
+0.9%
1.84 %$3.6016.64 %N/A98/10/2022
NEP
NextEra Energy Partners
$82.85
+1.4%
3.68 %$3.0568.54 %N/A8N/A
OGS
ONE Gas
$81.02
+0.6%
3.06 %$2.4863.27 %N/A88/12/2022
OTEX
Open Text
$39.24
+0.4%
2.24 %$0.8860.27 %N/A89/1/2022
ORRF
Orrstown Financial Services
$26.23
+0.2%
2.90 %$0.7626.76 %N/A6N/A
OSK
Oshkosh
$84.02
+1.0%
1.76 %$1.4883.62 %N/A68/12/2022
OTTR
Otter Tail
$76.95
+1.6%
2.14 %$1.6526.36 %N/A98/12/2022
OC
Owens Corning
$87.14
+1.0%
1.61 %$1.4012.44 %N/A7N/A
PEBO
Peoples Bancorp
$30.16
+0.2%
5.04 %$1.5262.55 %N/A7N/A
PFIS
Peoples Financial Services
$52.92
+0.5%
2.95 %$1.5625.28 %N/A68/30/2022
POWI
Power Integrations
$81.36
-1.2%
0.88 %$0.7223.38 %N/A88/30/2022
PLD
Prologis
$131.22
-0.1%
2.41 %$3.1663.20 %9.49 %9N/A
RMAX
RE/MAX
$27.28
+3.2%
3.37 %$0.92-115.00 %N/A78/15/2022
REG
Regency Centers
$64.04
+1.9%
3.90 %$2.5088.34 %2.78 %89/14/2022
REG
Regency Centers
$64.04
+1.9%
3.90 %$2.50N/AN/A8N/A
QSR
Restaurant Brands International
$59.25
-0.6%
3.65 %$2.1682.44 %N/A79/20/2022
REXR
Rexford Industrial Realty
$65.04
+0.4%
1.94 %$1.26132.63 %N/A69/29/2022
RBA
Ritchie Bros. Auctioneers
$68.87
+1.8%
1.45 %$1.0037.88 %10.33 %58/23/2022
SIGI
Selective Insurance Group
$77.45
-0.2%
1.45 %$1.1226.23 %N/A88/12/2022
SCVL
Shoe Carnival
$24.67
+6.9%
1.46 %$0.367.42 %N/A8N/A
SAMG
Silvercrest Asset Management Group
$18.23
+2.3%
3.73 %$0.6830.09 %N/A59/15/2022
SIRI
Sirius XM
$6.65
+1.1%
1.35 %$0.0929.03 %N/A5N/A
SWKS
Skyworks Solutions
$112.13
-0.5%
2.00 %$2.2428.46 %N/A78/24/2022
SSNC
SS&C Technologies
$60.45
-0.4%
1.32 %$0.8029.74 %N/A5N/A
SF
Stifel Financial
$60.80
-0.3%
1.97 %$1.2018.93 %N/A68/31/2022
STOR
STORE Capital
$28.12
+0.8%
5.48 %$1.54128.33 %N/A7N/A
SMMF
Summit Financial Group
$29.73
+0.2%
2.42 %$0.7219.51 %N/A7N/A
SUI
Sun Communities
$164.01
+1.1%
2.15 %$3.52128.94 %5.34 %6N/A
TTEK
Tetra Tech
$145.88
+0.2%
0.63 %$0.9219.01 %N/A88/11/2022
AES
AES
$23.87
-1.5%
2.64 %$0.63-108.62 %5.00 %9N/A
FBMS
First Bancshares
$29.12
-0.3%
2.47 %$0.7223.38 %N/A5N/A
WU
Western Union
$16.19
-1.1%
5.81 %$0.9442.15 %N/A79/15/2022
WMB
Williams Companies
$32.45
+0.7%
5.24 %$1.70132.81 %N/A69/8/2022
TMO
Thermo Fisher Scientific
$583.95
-1.1%
0.21 %$1.206.39 %N/A59/14/2022
TTEC
TTEC
$73.68
-1.4%
1.36 %$1.0038.17 %N/A7N/A
UTL
Unitil
$54.00
+0.6%
2.89 %$1.5660.47 %N/A88/11/2022
OLED
Universal Display
$120.68
-3.9%
0.99 %$1.2031.17 %49.38 %59/15/2022
VMC
Vulcan Materials
$172.17
+0.1%
0.93 %$1.6036.04 %9.74 %98/16/2022
WSO
Watsco
$285.91
+1.4%
3.08 %$8.8065.33 %10.84 %9N/A
WMPN
William Penn Bancorporation
$11.28
-0.5%
1.06 %$0.1240.00 %N/A8N/A
WING
Wingstop
$133.15
-0.7%
0.51 %$0.6850.75 %-54.40 %58/11/2022
WTFC
Wintrust Financial
$85.45
-1.5%
1.59 %$1.3619.68 %N/A98/10/2022
YUM
Yum! Brands
$118.50
+0.1%
1.92 %$2.2845.69 %N/A5N/A
ZION
Zions Bancorporation, National Association
$54.09
+0.2%
2.81 %$1.5228.41 %N/A58/17/2022
ZTS
Zoetis
$174.01
-0.3%
0.75 %$1.3029.48 %25.64 %8N/A

Dividend challengers are a group of stocks that consist of companies that have increased their dividends for a time period between five and nine years. Many dividend investors would argue that this is a low bar for a company to clear particularly since it’s the only requirement that these companies have to meet.

However, many of the best dividend stocks on the market today had to start the same way. One year at a time of prioritizing delivering shareholder equity via a dividend. That means that investing in these companies may be a way for income-oriented investors to build wealth over time.

In this article we’ll explain the significance of dividends and why dividend challengers can be an attractive option for investors.

What is a Dividend?

When you buy stock in a company, you take an ownership stake in the company. A dividend takes that one step further by distributing a percentage of its profits (known as the payout ratio) to investors as a dividend for owning the stock.

Many companies pay a dividend every three months (i.e. a quarterly dividend). That means that investors earn this dividend on a regular schedule no matter what is happening with the company’s stock price.

Why Do Companies Pay a Dividend?

Companies that pay a dividend usually do so because they are at a point in their business cycle that puts some upside limit on their growth. This doesn’t mean that the companies are in financial trouble. Many of these companies are large-cap companies that generate billions in revenue and have consistent earnings. They have sound balance sheets and generate significant free cash flow (FCF).

The downside of this consistency is that the companies don’t deliver the same growth as companies that are involved in sectors that deliver disruptive technology. And for that reason the stock price of these companies tends to underperform the overall market.

To help offset this relative lack of stock price appreciation, these companies will help increase their shareholders total return by issuing a dividend.

Dividends Help Increase Total Return

The total return on an investment includes interest, capital gains, dividends and other distributions that an investment generates over a period of time. If a company doesn’t issue a dividend, the total return of that investment is almost exclusively limited to capital gains. When the market is going up, these stocks can outperform the market. However when the market is in a correction or a bear market, the total return on these stocks can be significantly lower than broader market.

By contrast, dividend stocks offer investors a dividend in addition to the opportunity for capital gains. This has a smoothing effect on many portfolios. While these stocks may not outperform the market in terms of capital gains, the dividends can help move them closer. But these stocks really shine in times of market downturns. In this case, the stocks tend to perform “less badly” than growth stocks. In addition, the “rent” that investors collect from the dividend can help trim losses even more.

That’s because in most cases, investors have the ability to reinvest their dividends. This increases the amount of stock an investor owns which increases their capital gains as well as increasing their dividend payout. This creates a wealth-building cycle.

Dividend Challengers May be Future Dividend Stars

Many companies pay dividends. Some companies, such as real estate investment trusts (REITs) and master limited partnerships are required by law to distribute the vast majority of their profits as a dividend. Other companies, such as utilities, are highly regulated. Limited growth opportunities make a dividend a necessity.

 That’s why it stands out when a company makes a priority of increasing its dividend year after year. Granted a company that increases its dividend for five consecutive years does not provide the same certainty as a dividend king that has increased its dividend for at least 50 consecutive years.

But every dividend king was a dividend challenger at one point. If your due diligence tells you that the company is a good buy, then it may deserve a small position in your portfolio.

Some Final Thoughts on Dividend Challengers

Dividend challengers are companies that have increased their dividend for five to nine years. Long-time dividend investors look for companies that have increased their dividend over a longer period of time.

But the shorter track record doesn’t mean these companies don’t make sense as sources of reliable income. That’s because once companies begin to increase their dividend over several years, investors begin to expect it. And if they stop increasing the dividend, it may be a sign that the company’s growth is slowing. This could lead to the stock price falling as investors look for more appealing options.

Find out why slow and steady wins the race with DividendStocks.com.