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
Acushnet Holdings Corp. stock logo
GOLF
Acushnet
$53.05
-2.4%
1.47%$0.7824.61%8.74%6N/A
Air Lease Co. stock logo
AL
Air Lease
$39.27
-1.4%
2.04%$0.8018.74%11.82%9N/A
Albany International Corp. stock logo
AIN
Albany International
$83.52
-2.1%
1.20%$1.0038.02%6.43%5N/A
Alerus Financial Co. stock logo
ALRS
Alerus Financial
$17.87
-1.1%
4.25%$0.7641.08%7.09%7N/A
Allegion plc stock logo
ALLE
Allegion
$102.09
-1.8%
1.76%$1.8030.82%14.94%9N/A
Ally Financial Inc. stock logo
ALLY
Ally Financial
$26.25
-1.7%
4.57%$1.2032.79%20.84%6N/A
Applied Materials, Inc. stock logo
AMAT
Applied Materials
$134.08
-1.8%
0.95%$1.2816.89%7.11%611/22/2023
Arbor Realty Trust, Inc. stock logo
ABR
Arbor Realty Trust
$14.73
-0.4%
11.68%$1.72100.00%10.54%9N/A
Ares Management Co. stock logo
ARES
Ares Management
$102.89
-2.7%
2.99%$3.08188.96%23.99%5N/A
Atlantica Sustainable Infrastructure plc stock logo
AY
Atlantica Sustainable Infrastructure
$20.43
-2.4%
8.71%$1.781,271.43%4.08%6N/A
Bankwell Financial Group, Inc. stock logo
BWFG
Bankwell Financial Group
$24.18
-2.1%
3.31%$0.8017.51%15.44%5N/A
Barings BDC, Inc. stock logo
BBDC
Barings BDC
$8.67
-0.8%
12.00%$1.04126.83%20.72%5N/A
Baxter International Inc. stock logo
BAX
Baxter International
$37.32
-0.5%
3.11%$1.16-20.49%10.60%7N/A
BWX Technologies, Inc. stock logo
BWXT
BWX Technologies
$74.19
-0.8%
1.24%$0.9237.55%8.97%8N/A
Cable One, Inc. stock logo
CABO
Cable One
$612.31
-1.4%
1.93%$11.8068.89%9.63%7N/A
Capital City Bank Group, Inc. stock logo
CCBG
Capital City Bank Group
$29.31
-0.2%
2.73%$0.8025.97%11.20%9N/A
Capital Southwest Co. stock logo
CSWC
Capital Southwest
$22.37
-1.8%
10.01%$2.24136.59%8.04%7N/A
CareTrust REIT, Inc. stock logo
CTRE
CareTrust REIT
$20.34
-1.5%
5.51%$1.12320.01%6.92%99/28/2023
CDW Co. stock logo
CDW
CDW
$200.24
-2.3%
1.18%$2.3630.03%18.22%9N/A
Cognex Co. stock logo
CGNX
Cognex
$41.86
-2.0%
0.67%$0.2828.28%8.93%8N/A
Colony Bankcorp, Inc. stock logo
CBAN
Colony Bankcorp
$9.76
+0.3%
4.51%$0.4436.67%12.75%6N/A
Community Healthcare Trust Incorporated stock logo
CHCT
Community Healthcare Trust
$28.87
-3.2%
6.27%$1.81565.64%2.37%8N/A
ConocoPhillips stock logo
COP
ConocoPhillips
$120.17
-0.7%
1.70%$2.0419.65%12.29%69/27/2023
Cousins Properties Incorporated stock logo
CUZ
Cousins Properties
$20.10
-2.2%
6.37%$1.28129.29%3.97%510/3/2023
CRA International, Inc. stock logo
CRAI
CRA International
$102.40
+0.7%
1.41%$1.4426.72%15.83%6N/A
Crown Castle Inc. stock logo
CCI
Crown Castle
$91.08
-1.3%
6.87%$6.26158.88%9.31%8N/A
D.R. Horton, Inc. stock logo
DHI
D.R. Horton
$107.46
-0.7%
0.93%$1.007.11%13.96%9N/A
Danaher Co. stock logo
DHR
Danaher
$247.24
-1.9%
0.44%$1.0812.68%13.72%710/11/2023
Diamondback Energy, Inc. stock logo
FANG
Diamondback Energy
$153.06
+0.3%
2.20%$3.3617.44%59.70%5N/A
DICK'S Sporting Goods, Inc. stock logo
DKS
DICK'S Sporting Goods
$106.24
-1.1%
3.77%$4.0035.49%21.03%9N/A
Dollar General Co. stock logo
DG
Dollar General
$105.78
-1.9%
2.23%$2.3624.18%27.98%710/6/2023
Eli Lilly and Company stock logo
LLY
Eli Lilly and Company
$549.96
-0.4%
0.82%$4.5262.87%14.96%9N/A
EnPro Industries, Inc. stock logo
NPO
EnPro Industries
$120.07
-0.5%
0.97%$1.1613.98%3.85%8N/A
Entergy Co. stock logo
ETR
Entergy
$93.20
-3.1%
4.59%$4.2865.24%3.86%8N/A
Enterprise Financial Services Corp stock logo
EFSC
Enterprise Financial Services
$37.28
-0.8%
2.68%$1.0017.70%13.23%6N/A
EOG Resources, Inc. stock logo
EOG
EOG Resources
$126.95
+1.0%
2.60%$3.3022.24%43.51%610/16/2023
Equinix, Inc. stock logo
EQIX
Equinix
$711.03
-3.0%
1.92%$13.64157.32%8.01%8N/A
Equitable Holdings, Inc. stock logo
EQH
Equitable
$27.52
-2.6%
3.20%$0.8888.89%10.38%5N/A
Essential Properties Realty Trust, Inc. stock logo
EPRT
Essential Properties Realty Trust
$21.61
-3.2%
5.18%$1.1297.39%6.90%59/28/2023
Exponent, Inc. stock logo
EXPO
Exponent
$85.34
-1.1%
1.22%$1.0452.79%14.47%5N/A
Farmers & Merchants Bancorp, Inc. stock logo
FMAO
Farmers & Merchants Bancorp
$17.60
+1.4%
4.77%$0.8439.62%9.46%9N/A
Farmers National Banc Corp. stock logo
FMNB
Farmers National Banc
$11.30
-1.4%
6.02%$0.6847.22%19.59%7N/A
First Commonwealth Financial Co. stock logo
FCF
First Commonwealth Financial
$11.96
-0.9%
4.18%$0.5034.25%5.90%7N/A
First National Co. stock logo
FXNC
First National
$17.34
+2.5%
3.46%$0.6022.73%15.87%8N/A
FirstService Co. stock logo
FSV
FirstService
$147.51
-1.5%
0.61%$0.9030.00%10.52%89/28/2023
FMC Co. stock logo
FMC
FMC
$67.04
-1.3%
3.46%$2.3247.25%9.78%59/28/2023
Four Corners Property Trust, Inc. stock logo
FCPT
Four Corners Property Trust
$22.55
-2.5%
6.03%$1.36122.52%5.16%69/28/2023
Genpact Limited stock logo
G
Genpact
$36.37
-1.9%
1.51%$0.5525.11%13.72%6N/A
Gilead Sciences, Inc. stock logo
GILD
Gilead Sciences
$75.53
+0.9%
3.97%$3.0068.97%5.03%8N/A
Gladstone Land Co. stock logo
LAND
Gladstone Land
$14.11
-2.5%
3.90%$0.55-177.41%0.75%9N/A
Hamilton Lane Incorporated stock logo
HLNE
Hamilton Lane
$90.17
-0.4%
1.97%$1.7861.17%14.32%6N/A
Hannon Armstrong Sustainable Infrastructure Capital, Inc. stock logo
HASI
Hannon Armstrong Sustainable Infrastructure Capital
$22.32
-4.9%
7.08%$1.58282.15%3.83%510/3/2023
Heartland Financial USA, Inc. stock logo
HTLF
Heartland Financial USA
$29.22
-1.1%
4.11%$1.2024.24%17.03%7N/A
Hess Midstream LP stock logo
HESM
Hess Midstream
$29.65
-0.2%
8.09%$2.40120.60%11.84%6N/A
Hilltop Holdings Inc. stock logo
HTH
Hilltop
$27.77
-1.5%
2.30%$0.6440.76%23.31%6N/A
Houlihan Lokey, Inc. stock logo
HLI
Houlihan Lokey
$105.44
-2.2%
2.09%$2.2058.36%18.96%9N/A
Independent Bank Co. stock logo
IBCP
Independent Bank
$18.09
-1.6%
5.09%$0.9232.51%6.92%9N/A
Independent Bank Group, Inc. stock logo
IBTX
Independent Bank Group
$39.98
-2.3%
3.80%$1.5270.70%14.98%5N/A
Innovative Industrial Properties, Inc. stock logo
IIPR
Innovative Industrial Properties
$79.46
-2.5%
9.06%$7.20127.43%35.88%59/28/2023
Intercontinental Exchange, Inc. stock logo
ICE
Intercontinental Exchange
$107.21
-1.8%
1.57%$1.6855.81%11.38%9N/A
Investar Holding Co. stock logo
ISTR
Investar
$10.78
-3.5%
3.71%$0.4015.04%17.05%99/29/2023
Invitation Homes Inc. stock logo
INVH
Invitation Homes
$32.01
-1.5%
3.25%$1.04146.48%19.17%6N/A
Kilroy Realty Co. stock logo
KRC
Kilroy Realty
$31.18
-2.3%
6.93%$2.16103.85%3.54%79/28/2023
Kinder Morgan, Inc. stock logo
KMI
Kinder Morgan
$16.47
-1.7%
6.86%$1.13101.80%5.09%6N/A
Kinsale Capital Group, Inc. stock logo
KNSL
Kinsale Capital Group
$419.06
-1.6%
0.13%$0.565.69%17.57%7N/A
Kinsale Capital Group, Inc. stock logo
KNSL
Kinsale Capital Group
$419.06
-1.6%
0.13%$0.565.69%17.57%7N/A
Kinsale Capital Group, Inc. stock logo
KNSL
Kinsale Capital Group
$419.06
-1.6%
0.13%$0.565.69%17.57%7N/A
Lam Research Co. stock logo
LRCX
Lam Research
$606.00
-2.4%
1.32%$8.0024.14%12.75%9N/A
LCI Industries stock logo
LCII
LCI Industries
$114.38
-6.7%
3.67%$4.20126.51%16.67%6N/A
LCNB Corp. stock logo
LCNB
LCNB
$14.34
-2.4%
5.86%$0.8445.41%5.49%5N/A
Louisiana-Pacific Co. stock logo
LPX
Louisiana-Pacific
$55.09
-0.8%
1.74%$0.9632.54%17.68%5N/A
Martin Marietta Materials, Inc. stock logo
MLM
Martin Marietta Materials
$407.26
-0.7%
0.73%$2.9619.42%7.23%8N/A
Mercantile Bank Co. stock logo
MBWM
Mercantile Bank
$30.97
-2.0%
4.39%$1.3627.42%5.93%9N/A
Merchants Bancorp stock logo
MBIN
Merchants Bancorp
$27.61
-0.8%
1.16%$0.326.78%14.47%6N/A
MetLife, Inc. stock logo
MET
MetLife
$63.06
-3.1%
3.30%$2.0880.93%4.40%6N/A
Midland States Bancorp, Inc. stock logo
MSBI
Midland States Bancorp
$20.51
-2.0%
5.85%$1.2029.56%6.14%7N/A
Monolithic Power Systems, Inc. stock logo
MPWR
Monolithic Power Systems
$444.54
-1.9%
0.90%$4.0042.92%23.31%69/28/2023
Mplx Lp stock logo
MPLX
Mplx
$35.11
-0.6%
8.83%$3.1078.28%2.93%9N/A
MSCI Inc. stock logo
MSCI
MSCI
$516.26
-0.1%
1.07%$5.5248.38%22.04%9N/A
Mueller Water Products, Inc. stock logo
MWA
Mueller Water Products
$12.42
-1.0%
1.93%$0.2448.98%4.66%8N/A
MVB Financial Corp. stock logo
MVBF
MVB Financial
$21.82
-1.4%
3.12%$0.6830.77%51.64%6N/A
National Instruments Co. stock logo
NATI
National Instruments
$59.59
-0.1%
1.88%$1.1282.96%3.85%9N/A
National Storage Affiliates Trust stock logo
NSA
National Storage Affiliates Trust
$32.54
-0.5%
6.88%$2.24215.39%19.18%9N/A
Nelnet, Inc. stock logo
NNI
Nelnet
$89.80
-0.6%
1.16%$1.0420.43%9.82%8N/A
NexPoint Residential Trust, Inc. stock logo
NXRT
NexPoint Residential Trust
$31.61
-3.4%
5.31%$1.68-988.18%11.10%7N/A
NextEra Energy Partners, LP stock logo
NEP
NextEra Energy Partners
$46.90
-3.2%
7.29%$3.42202.37%14.97%9N/A
NiSource Inc. stock logo
NI
NiSource
$25.74
-3.6%
3.89%$1.0069.44%5.52%810/30/2023
ONE Gas, Inc. stock logo
OGS
ONE Gas
$70.80
-3.1%
3.67%$2.6063.57%7.43%9N/A
Owens Corning stock logo
OC
Owens Corning
$133.97
-1.6%
1.55%$2.0814.74%16.74%810/13/2023
Park National Co. stock logo
PRK
Park National
$94.41
-1.9%
4.45%$4.2048.84%0.98%6N/A
Park National Co. stock logo
PRK
Park National
$94.41
-1.9%
4.45%$4.2048.84%0.98%6N/A
Park National Co. stock logo
PRK
Park National
$94.41
-1.9%
4.45%$4.2048.84%0.98%6N/A
PCB Bancorp stock logo
PCB
PCB Bancorp
$15.45
+0.3%
4.66%$0.7231.86%33.89%5N/A
Peoples Bancorp Inc. stock logo
PEBO
Peoples Bancorp
$25.31
-0.9%
6.16%$1.5644.96%4.35%8N/A
Power Integrations, Inc. stock logo
POWI
Power Integrations
$75.22
-2.3%
1.01%$0.7648.10%27.18%9N/A
PulteGroup, Inc. stock logo
PHM
PulteGroup
$73.28
-0.9%
0.87%$0.645.29%10.67%5N/A
RB Global, Inc. stock logo
RBA
RB Global
$62.55
-1.2%
1.73%$1.08117.39%11.02%5N/A
Regency Centers Co. stock logo
REG
Regency Centers
$59.26
-2.3%
4.39%$2.60121.50%2.57%9N/A
Regency Centers Co. stock logo
REG
Regency Centers
$59.26
-2.3%
4.39%$2.60121.50%2.57%9N/A
Restaurant Brands International Inc. stock logo
QSR
Restaurant Brands International
$66.18
-1.6%
3.32%$2.2066.87%2.60%8N/A
Rexford Industrial Realty, Inc. stock logo
REXR
Rexford Industrial Realty
$49.70
-2.7%
3.06%$1.52153.54%19.41%79/28/2023
Rush Enterprises, Inc. stock logo
RUSHA
Rush Enterprises
$40.70
-0.6%
1.67%$0.6815.28%33.89%5N/A
Selective Insurance Group, Inc. stock logo
SIGI
Selective Insurance Group
$105.40
-0.1%
1.14%$1.2027.03%11.16%9N/A
ServisFirst Bancshares, Inc. stock logo
SFBS
ServisFirst Bancshares
$50.17
2.23%$1.1225.17%15.78%99/29/2023
Shoe Carnival, Inc. stock logo
SCVL
Shoe Carnival
$22.82
-2.4%
1.75%$0.4012.20%27.25%910/2/2023
Silvercrest Asset Management Group Inc. stock logo
SAMG
Silvercrest Asset Management Group
$16.34
-3.4%
4.65%$0.7661.79%5.27%6N/A
Sirius XM Holdings Inc. stock logo
SIRI
Sirius XM
$3.88
-3.2%
2.58%$0.1034.48%22.00%6N/A
Skyworks Solutions, Inc. stock logo
SWKS
Skyworks Solutions
$95.93
-1.9%
2.84%$2.7241.91%12.90%9N/A
STAG Industrial, Inc. stock logo
STAG
STAG Industrial
$34.09
-1.9%
4.31%$1.47134.86%0.69%59/28/2023
Stifel Financial Corp. stock logo
SF
Stifel Financial
$60.36
-3.5%
2.39%$1.4428.69%44.22%7N/A
Summit Financial Group, Inc. stock logo
SMMF
Summit Financial Group
$22.69
-1.6%
3.88%$0.8822.62%8.81%9N/A
Sun Communities, Inc. stock logo
SUI
Sun Communities
$120.98
-1.9%
3.07%$3.72202.17%5.47%79/28/2023
Tetra Tech, Inc. stock logo
TTEK
Tetra Tech
$151.71
-2.5%
0.69%$1.0418.41%16.01%9N/A
The First Bancshares, Inc. stock logo
FBMS
First Bancshares
$26.57
-1.0%
3.46%$0.9236.08%33.65%6N/A
The New York Times Company stock logo
NYT
New York Times
$40.44
-1.8%
1.09%$0.4441.51%21.41%5N/A
The Williams Companies, Inc. stock logo
WMB
Williams Companies
$33.58
-1.1%
5.33%$1.7982.11%3.80%7N/A
Thermo Fisher Scientific Inc. stock logo
TMO
Thermo Fisher Scientific
$501.52
-0.8%
0.28%$1.409.57%16.45%6N/A
TTEC Holdings, Inc. stock logo
TTEC
TTEC
$25.62
-2.7%
4.06%$1.0476.47%18.05%7N/A
United Community Banks, Inc. stock logo
UCBI
United Community Banks
$24.77
-1.8%
3.71%$0.9236.36%8.14%9N/A
Unitil Co. stock logo
UTL
Unitil
$44.14
-3.0%
3.67%$1.6260.00%1.77%9N/A
Universal Display Co. stock logo
OLED
Universal Display
$152.34
-3.5%
0.92%$1.4032.18%44.22%6N/A
VICI Properties Inc. stock logo
VICI
VICI Properties
$29.19
-1.9%
5.69%$1.6676.15%8.63%5N/A
Virtus Investment Partners, Inc. stock logo
VRTS
Virtus Investment Partners
$198.45
-2.3%
3.83%$7.6041.46%38.40%610/30/2023
Walker & Dunlop, Inc. stock logo
WD
Walker & Dunlop
$74.70
-1.0%
3.37%$2.5259.29%25.99%5N/A
Wingstop Inc. stock logo
WING
Wingstop
$176.79
+1.9%
0.50%$0.8841.90%21.64%6N/A
Yum! Brands, Inc. stock logo
YUM
Yum! Brands
$124.01
-0.8%
1.95%$2.4248.99%10.72%6N/A
Zions Bancorporation, National Association stock logo
ZION
Zions Bancorporation, National Association
$33.99
-1.7%
4.82%$1.6428.87%N/A5N/A
Zoetis Inc. stock logo
ZTS
Zoetis
$176.87
-0.5%
0.85%$1.5031.51%25.61%9N/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.

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.

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.

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.

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.

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.