If you’re after reliable dividend income, dividend aristocrats should be on your radar — they are companies with impressive records of raising payouts for at least 25 years!
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What are Dividend Aristocrats?
Dividend Aristocrats are companies listed on the S&P 500 index, which tracks the largest 500 publicly traded American companies. In addition, analysts sometimes consider new companies spun off from older institutions to be dividend aristocrats, as they are seen as having inherited their former parent companies’ long histories of dividend payments.
Which Dividend Aristocrat Stocks Are the Best to Buy?
According to Wall Street analysts, the three stocks listed below are worth buying. Each stock has a dividend payout ratio of at least 100%, meaning that each company distributes at least 100% of its net earnings to shareholders as dividends.
Furthermore, each company currently has a Buy rating based on consensus from top analysts or broader Wall Street agreement, with at least 10% upside potential.
Be sure to click on any ticker to thoroughly research the stock before you decide whether to add it to your portfolio. Here are today’s top dividend aristocrat stock picks from TipRanks.
Medtronic PLC (MDT) — Medtronic is an Irish medical technology company that specializes in devices and therapies for cardiac care, diabetes management, neurological disorders, and surgical procedures. It produces devices such as pacemakers, insulin pumps, and spinal implants.
The company’s dividend payout ratio is currently 154.19%. Medtronic paid $0.71 per share in its last dividend issuance, with a dividend yield of 3.12%. MDT stock presently holds a Moderate Buy consensus rating from 25 Wall Street analysts, with an average price target of $101.41, suggesting about 13% upside.
Air Products and Chemicals, Inc. (APD) — Air Products and Chemicals is an American industrial gases company that produces and supplies chemicals such as hydrogen, nitrogen, argon, and oxygen across the world. It targets clients in sectors such as energy, electronics, and healthcare.
The Pennsylvania-based company’s dividend payout ratio is currently 117.05%. Air Products and Chemicals paid $1.79 per share in its last dividend issuance, with a dividend yield of 2.97%. APD stock currently enjoys a Strong Buy consensus rating from 11 Wall Street analysts, with an average price target of $327.50, implying about a 25% upswing from its current trading level.
Genuine Parts Company (GPC) — Genuine Parts is a Georgia-based global distributor of automotive and industrial replacement parts. It operates the brands NAPA Auto Parts and Repco, supplying parts, tools, and equipment to repair shops, retailers, and service centers in North America, Australia, and other parts of the world.
The company’s dividend payout ratio is currently 109.95%. Genuine Parts paid $1.03 per share in its last dividend issuance, with a dividend yield of 3.33%. GPC stock currently has a Strong Buy consensus rating from four Wall Street analysts, with an average price target of $146.50, suggesting almost 18% upside.
Interested in More Dividend Aristocrat Stocks?
To find more stocks like these, take a look at TipRanks’ Dividend Aristocrats tool.
The page provides an exhaustive list of all dividend aristocrats, including their most recent dividend yields, previous dividend amounts, payout ratios, and other details.