Dividend Kings: The Complete 2026 List of 52 Stocks with 50+ Years of Dividend Increases

Key Takeaways

• Dividend Kings are elite stocks that have increased dividends for at least 50 consecutive years—double the requirement for Dividend Aristocrats
• Only 52 U.S. companies currently qualify as Dividend Kings, representing less than 1% of all publicly traded stocks
• Unlike Dividend Aristocrats, Dividend Kings have no S&P 500 membership requirement, allowing smaller companies to qualify based purely on dividend track record
• These companies have survived and thrived through seven recessions, multiple wars, the dot-com bubble, the 2008 financial crisis, and the COVID-19 pandemic while raising dividends every year
• Dividend yields among current Kings range from 1.1% to 7.4%, with Altria Group (MO) offering the highest yield and RLI Corp (RLI) the lowest
• Three new companies joined the Dividend Kings in 2025: Pentair (PNR), MGE Energy (MGEE), and RLI Corp (RLI), while no companies were removed from the list

Table of Contents

• What Are Dividend Kings?
• Dividend Kings Criteria and Requirements
• Complete List of All 52 Dividend Kings (2026)
• Dividend Kings vs Dividend Aristocrats
• Historical Performance and Returns
• Why Are Dividend Kings So Rare?
• Top Dividend Kings to Consider
• How to Invest in Dividend Kings
• Risks and Limitations

What Are Dividend Kings?

Dividend Kings are U.S. public companies that have increased their annual dividend payments to shareholders for at least 50 consecutive years. This extraordinary achievement represents the pinnacle of dividend reliability and corporate stability, requiring a company to raise its dividend every single year for half a century or longer.

To put this in perspective, a company achieving Dividend King status today must have raised its dividend every year since 1976 or earlier—meaning it increased payouts through:

• Seven recessions (1980, 1981-82, 1990-91, 2001, 2007-09, 2020, potential 2023)
• The stagflationary 1970s with double-digit inflation
• The Volcker interest rate shock of the early 1980s
• The 1987 stock market crash (Black Monday)
• The dot-com bubble bursting (2000-2002)
• The 9/11 terrorist attacks
• The 2008 financial crisis
• The COVID-19 pandemic

According to Dividend Growth Investor’s comprehensive research, only 52 companies in the United States currently qualify for this elite designation, representing less than 1% of all publicly traded stocks.

The Significance of 50 Years

Fifty years represents roughly two full business cycles, three generations of consumers, and countless industry disruptions. Companies that maintain unbroken dividend growth streaks this long demonstrate:

• Exceptional business models: Competitive advantages that endure across decades
• Shareholder-friendly management: Consistent prioritization of returning cash to owners
• Financial resilience: Ability to generate growing cash flows through any economic environment
• Adaptability: Capacity to evolve with changing markets and consumer preferences

Dividend Kings Criteria and Requirements

The requirements to become a Dividend King are deceptively simple but extraordinarily difficult to achieve:

Primary Requirement

50+ Years of Consecutive Annual Dividend Increases: The company must have raised its dividend payment every single calendar year for at least 50 years. Missing even one year—whether through a dividend cut, elimination, or simply keeping the dividend flat—disqualifies a company immediately and resets the streak to zero.

What the Criteria Does NOT Include

Unlike Dividend Aristocrats, the Dividend Kings designation has no additional requirements:

• No S&P 500 membership required: Smaller companies can qualify
• No minimum market capitalization: Company size doesn’t matter
• No liquidity requirements: Trading volume thresholds don’t apply
• No sector balance requirements: Any industry can be represented

This simpler criterion means that many Dividend Kings are NOT Dividend Aristocrats (because they’re not in the S&P 500), while all Dividend Aristocrats could theoretically become Dividend Kings after 50 years.

Verification and Tracking

Unlike the Dividend Aristocrats list, which is maintained by S&P Dow Jones Indices as an official index, the Dividend Kings list is maintained by independent dividend researchers and investment sites. According to Sure Dividend’s detailed tracking, verification requires examining decades of dividend payment history through company filings, historical records, and dividend databases.

Complete List of All 52 Dividend Kings (2026)

Here is the complete list of all 52 Dividend Kings as of January 2026, organized by dividend yield from highest to lowest:

Ultra-High Yield Kings (6%+ Yield)

• Altria Group (MO) – Tobacco – 7.4% yield – 55+ years
• Universal Corp (UVV) – Tobacco – 6.4% yield – 53+ years

High Yield Kings (4-6% Yield)

• Hormel Foods (HRL) – Consumer Staples – 4.1% yield – 58+ years
• Target (TGT) – Retail – 4.7% yield – 54+ years
• 3M Company (MMM) – Industrials – 6.5% yield – 66+ years
• Stanley Black & Decker (SWK) – Industrials – 4.8% yield – 56+ years

Moderate Yield Kings (2.5-4% Yield)

• Procter & Gamble (PG) – Consumer Staples – 2.4% yield – 68+ years
• Coca-Cola (KO) – Beverages – 3.2% yield – 62+ years
• PepsiCo (PEP) – Beverages/Snacks – 3.1% yield – 53+ years
• Johnson & Johnson (JNJ) – Healthcare – 3.2% yield – 62+ years
• Colgate-Palmolive (CL) – Consumer Staples – 2.5% yield – 61+ years
• Lowe’s Companies (LOW) – Home Improvement – 2.0% yield – 61+ years
• Abbott Laboratories (ABT) – Healthcare – 2.1% yield – 53+ years
• Lancaster Colony (LANC) – Food Products – 2.3% yield – 61+ years
• Dover Corporation (DOV) – Industrials – 1.4% yield – 68+ years
• Genuine Parts (GPC) – Automotive Distribution – 2.9% yield – 68+ years
• Emerson Electric (EMR) – Industrials – 2.2% yield – 68+ years
• Cincinnati Financial (CINF) – Insurance – 2.7% yield – 64+ years
• PPG Industries (PPG) – Coatings/Specialty Materials – 1.9% yield – 52+ years
• Parker Hannifin (PH) – Industrials – 1.2% yield – 68+ years
• Becton Dickinson (BDX) – Medical Devices – 1.6% yield – 53+ years
• H.B. Fuller (FUL) – Specialty Chemicals – 1.5% yield – 54+ years
• Stepan Company (SCL) – Specialty Chemicals – 1.4% yield – 56+ years
• Nordson Corporation (NDSN) – Industrial Technology – 1.1% yield – 61+ years
• Pentair (PNR) – Water Technology – 1.7% yield – 50 years (NEW in 2025)

Lower Yield Kings (Below 2.5% Yield)

• American States Water (AWR) – Utilities – 2.2% yield – 70+ years
• Northwest Natural Holding (NWN) – Utilities – 4.9% yield – 68+ years
• SJW Group (SJW) – Utilities – 3.1% yield – 56+ years
• Black Hills Corporation (BKH) – Utilities – 4.5% yield – 53+ years
• California Water Service (CWT) – Utilities – 2.3% yield – 56+ years
• Federal Realty Investment Trust (FRT) – REIT – 4.2% yield – 56+ years
• Farmers & Merchants Bancorp (FMCB) – Regional Bank – 2.4% yield – 66+ years
• Tootsie Roll Industries (TR) – Confections – 1.5% yield – 60+ years (via stock dividends)
• Commerce Bancshares (CBSH) – Regional Bank – 2.3% yield – 55+ years
• Tennant Company (TNC) – Industrial Equipment – 1.6% yield – 53+ years
• National Fuel Gas (NFG) – Utilities – 3.8% yield – 53+ years
• MGE Energy (MGEE) – Utilities – 2.8% yield – 50 years (NEW in 2025)
• RLI Corp (RLI) – Insurance – 1.1% yield – 50 years (NEW in 2025)

Additional Dividend Kings

The complete list includes several additional companies across various sectors including:

• Sysco Corporation (SYY) – Food Distribution – Expected to join in 2026 (49 years as of 2025)
• Brown & Brown (BRO) – Insurance Brokerage – 50+ years
• RPM International (RPM) – Specialty Coatings – 51+ years
• W.W. Grainger (GWW) – Industrial Distribution – 53+ years
• Franklin Electric (FELE) – Water Systems – 51+ years
• Universal Health Realty Trust (UHT) – REIT – 51+ years

Note: Yields and year counts are approximate as of January 2026. For current dividend data on any specific stock, use our Dividend Yield Calculator.

Dividend Kings vs Dividend Aristocrats

Dividend Kings and Dividend Aristocrats are both prestigious designations, but they have important differences:

Which Designation Is More Prestigious?

Dividend Kings are generally considered more elite due to the doubled time requirement (50 vs 25 years). However, Dividend Aristocrats benefit from official S&P recognition and inclusion in the S&P 500, providing liquidity and institutional credibility. Many investors consider both lists complementary rather than competitive.

For a detailed analysis of Dividend Aristocrats, see our complete Dividend Aristocrats guide.

Historical Performance and Returns

Dividend Kings have delivered solid long-term returns, though recent performance has lagged the technology-heavy S&P 500.

Long-Term Performance

According to Simply Safe Dividends’ comprehensive analysis, over most long-term periods, Dividend Kings have delivered total returns similar to the S&P 500 but with notably lower volatility. The group’s defensive characteristics—heavy representation in consumer staples, utilities, and healthcare—provide downside protection during market turmoil.

Recent Underperformance (2020-2025)

In recent years, Dividend Kings have not kept pace with the increasingly technology-heavy S&P 500. As investors flocked to growth stocks and AI companies, the mature, defensive businesses that dominate the Dividend Kings list underperformed. The S&P 500 is nearly 30% technology stocks (including mega-caps like Apple, Microsoft, and Nvidia), while Dividend Kings have minimal tech exposure.

Dividend Growth Consistency

What Dividend Kings lack in price appreciation excitement, they compensate for with remarkable dividend consistency. The group has delivered steady annual dividend growth of 5-6% over the past decade. This reliable income growth provides inflation protection and compounding power for long-term investors using dividend reinvestment strategies.

Total Return Breakdown

For Dividend Kings, total return typically consists of:

• Dividend income: 2-4% average yield
• Dividend growth: 5-6% annual increases
• Price appreciation: Variable, often modest
• Total expected return: Historically 8-10% annually

Why Are Dividend Kings So Rare?

Only 52 out of roughly 5,000 publicly traded U.S. companies qualify as Dividend Kings—just 1% of the market. This extreme rarity reflects the extraordinary difficulty of maintaining unbroken dividend growth for half a century.

Economic Cycles and Recessions

Fifty years guarantees exposure to multiple severe recessions. During economic downturns, most companies face:

• Declining revenue as consumers and businesses cut spending
• Compressed profit margins from pricing pressure
• Credit market disruptions limiting financing options
• Pressure from boards and analysts to preserve cash

Maintaining dividend increases through these conditions requires exceptional financial discipline and business resilience.

Industry Disruption

Half a century encompasses massive technological and competitive disruption. Consider what has changed since 1976:

• Personal computers didn’t exist commercially
• The internet was 15+ years from public availability
• E-commerce, smartphones, and social media were science fiction
• Entire industries (video rental, print newspapers, landline phones) have largely disappeared

Companies must continually adapt their business models to survive while still generating growing cash flows for dividends.

Management Continuity and Philosophy

Maintaining a 50-year dividend growth streak requires consistent management philosophy across multiple CEO tenures. A single management team focused on acquisitions, buybacks, or other capital allocation strategies over dividends can end a multi-decade streak instantly.

Companies That Nearly Made It

Several prominent companies came close to Dividend King status but ultimately failed:

• V.F. Corp (VFC): Achieved King status in 2022 but cut dividends just two months later
• Diebold (DBD): Kept dividends flat, breaking the streak before eventually cutting
• 3M (MMM): Recently ended a 65-year dividend growth streak due to litigation costs

Top Dividend Kings to Consider

While all Dividend Kings demonstrate exceptional track records, some stand out for current investors based on valuation, yield, and growth prospects. These examples come from Sure Dividend’s latest analysis:

PepsiCo (PEP) – Diversified Food & Beverage Giant

Dividend Yield: 3.1%
Consecutive Years: 53
Recent Dividend Increase: 5.0% (February 2025)

PepsiCo combines beverage and snack food businesses with over 20 individual $1+ billion brands. The company’s diversification across categories and geographies provides stability, while its pricing power allows it to navigate inflation. Recent organic revenue growth of 1-3% quarterly demonstrates resilient demand even in challenging consumer environments.

Johnson & Johnson (JNJ) – Healthcare Leader

Dividend Yield: 3.2%
Consecutive Years: 62
Recent Performance: Up 45% in 2025

Following the 2023 divestiture of consumer products business Kenvue, J&J now focuses exclusively on pharmaceuticals and medical devices. This streamlined structure positions the company for accelerated growth while maintaining its exceptional dividend track record. Healthcare demographics favor long-term growth as populations age globally.

Procter & Gamble (PG) – Consumer Staples Powerhouse

Dividend Yield: 2.4%
Consecutive Years: 68
Dividend Safety: Exceptional

P&G owns dominant brands across household and personal care categories (Tide, Pampers, Gillette, Crest). The company’s portfolio of necessity products ensures consistent demand regardless of economic conditions. Premium brand positioning allows for price increases that protect margins and fund continued dividend growth.

Target Corporation (TGT) – Retail Value Opportunity

Dividend Yield: 4.7%
Consecutive Years: 54
Recent Price Decline: Down 31% from 2025 peak

Target faced challenges in 2025 from consumer boycotts, reduced confidence, and tariff uncertainty. However, the stock’s decline created an attractive entry point with a historically elevated 4.7% yield. Improving consumer sentiment and normalized inventory levels could drive recovery in 2026.

Pentair (PNR) – New King in Water Technology

Dividend Yield: 1.7%
Consecutive Years: 50 (just qualified)
Growth Potential: Strong

Pentair designs water management solutions for residential and commercial applications. As a newly minted Dividend King, the company combines the stability demonstrated by 50 years of dividend growth with growth potential in water infrastructure and sustainability trends.

How to Invest in Dividend Kings

Investors can access Dividend Kings through several approaches, each with distinct advantages:

Individual Stock Selection

Approach: Research and purchase individual Dividend Kings directly
Advantages: Maximum control, ability to focus on best values, tax-loss harvesting opportunities
Disadvantages: Requires research time, higher transaction costs, concentration risk

When selecting individual Dividend Kings, consider:

• Current valuation (P/E ratio, dividend yield vs historical average)
• Payout ratio sustainability (typically want under 60-70%)
• Recent dividend growth rate
• Industry trends and competitive position
• Management quality and capital allocation philosophy

Use our Advanced Dividend Growth Calculator to project long-term returns from individual positions with dividend reinvestment.

Dividend-Focused ETFs

While no ETF specifically tracks only Dividend Kings, several dividend ETFs hold many of them:

ProShares S&P 500 Dividend Aristocrats ETF (NOBL): Holds Dividend Aristocrats, many of which are also Kings
Schwab U.S. Dividend Equity ETF (SCHD): Quality dividend fund holding several Dividend Kings
Vanguard Dividend Appreciation ETF (VIG): Dividend growth focus includes many Kings

For a detailed comparison of dividend ETFs, see our VYM vs VIG analysis.

Build a Dividend Kings Portfolio

Create a diversified portfolio of 10-20 Dividend Kings across different sectors:

• Consumer Staples: 25-30% (PG, KO, PEP, CL)
• Healthcare: 20-25% (JNJ, ABT, BDX)
• Industrials: 20-25% (EMR, DOV, PH, PPG)
• Financials/Insurance: 10-15% (CINF, RLI, CBSH)
• Utilities: 10-15% (AWR, NFG, MGEE)
• Consumer Discretionary: 5-10% (LOW, TGT)

This sector diversification protects against industry-specific downturns while maintaining exposure to multiple Dividend Kings.

Dollar-Cost Averaging Strategy

Rather than attempting to time purchases, systematically invest a fixed dollar amount monthly or quarterly into your chosen Dividend Kings. This approach:

• Reduces timing risk
• Automatically buys more shares when prices are lower
• Builds positions gradually without large upfront capital
• Removes emotional decision-making

Risks and Limitations of Dividend Kings

Despite their impressive track records, Dividend Kings are not risk-free investments. Understanding limitations helps set appropriate expectations.

Past Performance Doesn’t Guarantee Future Results

A 50-year dividend growth streak, while impressive, doesn’t guarantee the next 50 years. Companies face:

• Changing competitive dynamics: E-commerce disruption, international competition, technological obsolescence
• Regulatory challenges: Environmental regulations, antitrust scrutiny, product liability
• Management changes: New leadership may prioritize different capital allocation strategies
• Industry decline: Tobacco companies maintain King status despite facing long-term headwinds

Opportunity Cost and Underperformance

Dividend Kings underperformed growth stocks significantly during 2010-2025’s technology-driven bull market. Investors focused exclusively on Kings missed substantial gains in mega-cap tech, AI, and innovative companies. The opportunity cost of “safe” dividend stocks can be substantial during growth-favoring markets.

Low Growth Potential

Most Dividend Kings are mature businesses in established industries. Their revenue and earnings growth rates typically lag younger, more dynamic companies. Investors seeking wealth accumulation rather than income generation might find better opportunities elsewhere.

Yield Traps

Some Dividend Kings offer unusually high yields (6-7%+) that may signal trouble rather than opportunity. Altria Group’s 7.4% yield reflects structural headwinds facing tobacco companies. High yields from deteriorating businesses can precede dividend cuts that end King status and destroy shareholder value.

Tax Inefficiency

For investors in taxable accounts, dividend income is taxed annually even if reinvested. This creates tax drag compared to growth stocks that only trigger taxes when sold. Qualified dividend tax rates (0%, 15%, or 20% depending on income) are favorable but still reduce after-tax returns.

Concentration Risk

The Dividend Kings list is heavily concentrated in specific sectors—consumer staples, healthcare, and industrials dominate while technology, communication services, and energy are underrepresented. This sector concentration creates vulnerability to industry-specific challenges.

No Guarantee Against Cuts

Recent history shows even 60+ year streaks can end. V.F. Corp cut its dividend in 2023 after achieving King status, demonstrating that past performance truly doesn’t guarantee future results. Always evaluate current fundamentals rather than relying solely on historical track records.

Should You Invest in Dividend Kings?

Dividend Kings suit specific investor profiles and goals:

Best for:

• Retirees seeking reliable, growing income
• Conservative investors prioritizing capital preservation
• Long-term investors comfortable with modest returns and lower volatility
• Tax-deferred accounts (IRAs, 401(k)s) where dividend taxation doesn’t apply
• Investors seeking sleep-well-at-night portfolio stability

Not ideal for:

• Younger investors with decades until retirement seeking maximum growth
• Aggressive investors comfortable with volatility for higher potential returns
• Those with low risk tolerance who can’t withstand 30%+ drawdowns in defensive stocks
• Taxable accounts with high marginal tax rates (dividend tax drag reduces returns)

For most dividend investors, a blended approach makes sense: combine a core position in Dividend Kings for stability and income with growth-oriented holdings for capital appreciation potential.

Ready to calculate potential returns from Dividend Kings? Use our dividend growth calculator to project how these reliable dividend growers might compound over your investment timeframe.

Frequently Asked Questions

This article is for educational purposes only and does not constitute investment advice. A company’s historical dividend track record does not guarantee future dividend increases or investment returns. Dividends can be reduced or eliminated at any time based on business conditions. Stock values fluctuate with market conditions and all investments carry risk of loss. Always conduct thorough research on individual companies and consider consulting with a qualified financial advisor before making investment decisions.