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Today, I'm excited to share with you 7 dividend growth stocks that have recently increased their dividend payments. Whether you're looking for high-yield reliable payers or low-yield stocks with impressive growth rates, this list has something for every long-term dividend investor.

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7 Dividend Increases You MUST Know

1. Altria Group (MO Stock)

Starting with a familiar name, Altria Group just announced a 4.1% increase to their quarterly dividend, now paying $1.02 per share. This brings the dividend yield close to 8%. Altria has a strong track record, with 55 years of consecutive dividend increases.

2. Badger Meter (BMI Stock)

A lesser-known company, Badger Meter recently announced a 25.9% increase in their quarterly dividend, raising it to $0.34 per share. With a 0.67% dividend yield and a history of high growth (17.78% 5-year CAGR), Badger Meter’s financials show strong earnings growth and an excellent balance sheet. This could be an interesting addition to your portfolio.

3. Coca-Cola Consolidated (COKE Stock)

Not to be confused with Coca-Cola (KO), Coca-Cola Consolidated is the bottling company that just announced a massive 400% increase in their quarterly dividend, now at $2.50 per share. Despite not being a traditional dividend aristocrat, this company has shown fantastic performance, with over 300% stock price growth in the past five years. The annualized dividend now stands at $10 per share, yielding 0.74% with a low payout ratio of around 10%.

4. H&R Block (HRB Stock)

H&R Block is another well-known name that just announced a 17.2% increase to their quarterly dividend, now paying $0.375 per share. It has a 2.36% dividend yield. HRB stock has been buying back shares aggressively, contributing to a significant portion of its returns.

5. Nordson Corporation (NDSN Stock)

Nordson, a dividend aristocrat, announced a 14.7% increase, raising their quarterly dividend to $0.78 per share. Known for its reliable stock price growth and consistent dividend increases, Nordson offers a 1.22% dividend yield with a sustainable payout ratio of around 30%.

6. Primerica (PRI Stock)

Primerica, a life insurance company, just raised its quarterly dividend by 20% to $0.90 per share. With a 1.38% starting dividend yield and a payout ratio of just 15%, Primerica has a lot of room for continued dividend growth.

7. Illinois Tool Works (ITW Stock)

Lastly, Illinois Tool Works, another dividend aristocrat, announced a 7.1% increase to their quarterly dividend, now at $1.50 per share. With a 2.44% dividend yield and a 50% payout ratio, ITW is a slow but steady grower. This company is a dividend aristocrat.

Conclusion

These seven stocks represent a diverse range of opportunities for dividend growth investors. Whether you’re looking for high yield or high growth, there’s something here for everyone. As always, make sure to do your own research and consider how these stocks fit into your long-term investment strategy.

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— Zach

Disclaimer: Dividend Dividend (Dividend Data LLC) is not a professional financial service. All materials released from Dividend Data (Dividend Data LLC) are for educational and entertainment purposes. Dividend Data (Dividend Data LLC) is not a replacement for a professional's opinion. Contributors to the Dividend Data (Dividend Data LLC) might have equities mentioned in the newsletter