The MaxDividends Macro Report is your monthly deep dive into global dividend trends — packed with data, insights, and analysis from the most dividend-focused team and community in the world.

💬 Like, share, and repost to spread the dividend mindset!

Hey Dividend Investors!

Our latest MaxDividends Macro Report — February 2026 is here, and it’s loaded with sharp, data-driven insights to keep your income strategy moving upward.

Each week, we track thousands of dividend-paying companies across global markets — studying trends, running the numbers, and cutting through the noise so you don’t have to. Every chart, metric, and signal you see here comes from hours of careful analysis by the MaxDividends team.

And the mission behind all that work stays the same: helping you build a dividend income stream that’s reliable today and growing for years ahead.

We’re the most dividend-focused community on Earth — and you’re right in the heart of it.

The MaxDividends Macro Report

• Dividend Eagles: 3 Top-Performing Dividend Stocks of the Month

• Updated Dividend Eagles Top Stocks List

• The Most Notable Dividend Increases

• Dividend Macro Highlights:

  • Global Dividend Trends

  • US Dividend Trends

• ⭐ My Personal Stock Watchlist for February-March 2026

The new MaxDividends PDF Macro Report for February is a must-see for every dividend investor.

🎁 Bonus!

Inside, you’ll find 5 outstanding dividend stock ideas, fresh market trends, macro insights, and real-world plans to grow your income — all crafted by the MaxDividends team.

📊 View Full Report (PDF) 📊

We’re sharing it today with the entire community so everyone can see just how powerful these reports are — packed with value, guidance, and data worth far more than a couple cups of coffee. Trends, top lists, strategies, support, insights — and of course, the app that ties it all together.

Dividend Eagles Deliver ~$9.5B in Dividends YTD

3 Top-Performing Dividend Eagles of February

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +15.75% PPG — PPG Industries

Coloring the World’s Infrastructure

PPG is one of the largest global coatings companies, supplying paints, specialty coatings, and protective finishes used in aerospace, automotive, industrial equipment, marine applications, and residential housing. When buildings are constructed, aircraft are assembled, or factories expand — PPG products are often part of the process.

Founded in 1883 and headquartered in Pennsylvania, PPG operates across dozens of countries with a diversified industrial customer base. Its products aren’t optional add-ons — they protect surfaces, extend asset life, and improve performance. That creates repeat demand and pricing power over time.

This steady industrial footprint supports durable cash flow generation. Through cycles, PPG has maintained disciplined capital allocation and a consistent dividend growth policy — quietly compounding shareholder income for decades.

🥈 +17.27% WDFC — WD-40 Company

A Small Can with Global Reach

WD-40 is one of the most recognizable maintenance brands in the world. Its products solve everyday mechanical problems — lubrication, corrosion prevention, cleaning — across households, workshops, and industrial environments worldwide.

Founded in 1953 and based in California, the company operates a focused portfolio built around a handful of high-margin, globally distributed brands. The beauty of the model is simplicity: strong brand equity, global distribution, limited SKU complexity, and repeat purchase behavior.

That brand-driven moat translates into impressive operating margins and consistent free cash flow. WD-40 doesn’t need massive capital expenditures to grow — which leaves more room to steadily raise dividends year after year.

🥇 +23.50% GRC — The Gorman-Rupp Company

Pumps That Keep the Real World Moving

Gorman-Rupp manufactures pumps and pumping systems used in water, wastewater, industrial processing, construction, and municipal infrastructure. When water needs to move — in cities, plants, or industrial sites — reliability is everything.

Founded in 1933 and headquartered in Ohio, the company focuses on engineered products built for durability and mission-critical environments. Municipal and industrial clients value long service life and proven performance — which supports recurring demand and long customer relationships.

That practical, infrastructure-anchored business model produces steady operating cash flow and supports a long track record of dividend increases. It’s not flashy — but it’s exactly the kind of essential industrial backbone that keeps income compounding quietly in the background.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

15+ consecutive years of dividend increases

One of the defining features of Procter & Gamble’s shareholder proposition is its unusually long and uninterrupted dividend record. Since its incorporation in 1890, P&G has paid a cash dividend every single year for 135 consecutive years, making it one of the longest streaks in corporate history.

Moreover, the company has increased its dividend annually for 69 straight years, including a 5 % raise announced in 2025 that lifted the quarterly payout to $1.0568 per share.

This extended stretch of dividend growth underscores P&G’s commitment to returning cash to investors and reflects its ability to generate stable cash flow across economic cycles.

If you want to dive deeper, the full list of all Dividend Eagles — with up-to-date analytics, financial scores, valuations, streaks, payout metrics, and every data point you need — is available inside the MaxDividends App for all partners right here:

👉 the full list of all Dividend Eagles

This is where you can explore every Eagle in detail, compare quality, screen for opportunities, and build a portfolio with true long-term horsepower.

And now, let’s get into the good part — a hand-picked set of dividend ideas worth your attention this month, selected for reliability, growth, and real income-producing strength. Let’s dive in.

List of Undervalued Dividend Stocks (February) 🔥

The Most Notable Dividend Increases of the Month

Alamo Group (ALG) — Dividend Increase: +13.3%

30+ consecutive years of rising dividends

Alamo manufactures industrial equipment used in vegetation management, infrastructure maintenance, and agricultural applications. Its products are deployed by municipalities, contractors, and government agencies to maintain roadsides, public lands, and essential infrastructure. This is not cyclical consumer spending — it’s ongoing maintenance of the physical world.

Because its equipment supports essential services, demand tends to remain steady even when economic conditions fluctuate. The company operates with a focused product portfolio, disciplined capital allocation, and a long-term operating mindset.

Alamo raised its dividend by 13.3%, extending a three-decade streak of dividend growth. That kind of consistency reflects durable free cash flow generation and a management team that prioritizes shareholder returns alongside operational expansion.

Fastenal (FAST) — Dividend Increase: +9.1%

25+ consecutive years of rising dividends

Fastenal distributes industrial and construction supplies — fasteners, safety equipment, tools, and maintenance products — through a vast branch and on-site network across North America and beyond. Its model is built on proximity to customers and deep integration into their daily operations.

With thousands of locations and vending solutions embedded directly into client facilities, Fastenal benefits from repeat demand and high switching costs. Industrial customers rely on uptime and inventory availability, not price shopping every quarter.

The 9.1% dividend increase extends Fastenal’s multi-decade growth streak and signals continued confidence in its cash-generating ability. As long as factories operate and projects move forward, Fastenal remains positioned to quietly compound income.

Goldman Sachs (GS) — Dividend Increase: +12.5%

10+ consecutive years of rising dividends

Goldman Sachs is one of the world’s leading investment banks and asset managers, serving corporations, institutions, and governments globally. Its revenue streams span advisory, trading, asset management, and wealth management.

While capital markets businesses can be cyclical, Goldman’s scale, brand, and diversified operations provide resilience across market environments. Strong capital ratios and disciplined risk management allow the firm to navigate volatility while maintaining shareholder returns.

The 12.5% dividend increase reflects solid capital strength and management’s confidence in earnings power.

BlackRock (BLK) — Dividend Increase: +10%

15+ consecutive years of rising dividends

BlackRock is the world’s largest asset manager, overseeing trillions in client assets across ETFs, mutual funds, and institutional mandates. Its iShares platform alone has become foundational to modern portfolio construction.

Asset management is a scale-driven business. As assets grow, operating leverage improves, generating strong margins and substantial free cash flow. BlackRock benefits from global diversification, recurring fee revenue, and deep integration into institutional investment frameworks.

With a 10% dividend increase, BlackRock extends its streak of steady dividend growth. The raise underscores the structural strength of its fee-based model and its ability to convert market growth into rising shareholder income.

The Most Solid Recent Dividend Hikes

• Balchem (BCPC) +10.34%

• Canadian Imperial Bank (CM) +16.27%

• Ecolab (ECL) +12.31%

• Eli Lilly (LLY) +15.33%

• Mastercard (MA) +14.47%

• Owens Corning (OC) +14.49%

• Oil-Dri Corp (ODC) +13.89%

• WD-40 (WDFC) +8.51%

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

Global: Latest Dividend Data

The global cumulative dividend payout for Q4 2025 continued the upward trajectory observed since the post-pandemic recovery. Total dividends reached approximately $1.67 trillion, with the vast majority coming from regular dividend payments rather than special distributions.

This composition indicates that dividend growth is being driven primarily by recurring operating cash flows, rather than one-time balance-sheet actions. The stability of regular payouts suggests that corporate earnings and cash-flow generation remain sufficiently strong to support ongoing shareholder distributions.

Global Total Quarterly Dividend Payments (US$ Billions)

Global dividend payments remained elevated throughout 2025, reflecting stable corporate earnings and sustained shareholder return policies across major markets. Companies distributed approximately $400 billion in dividends during the first quarter, followed by a peak of nearly $570 billion in the second quarter, driven in part by elevated special dividends.

In Q3 2025, total payouts moderated to roughly $380 billion as special distributions declined, while regular dividends remained stable.

With Q4 2025 now fully reported, global dividends totaled approximately $302 billion, including $297.5 billion in regular dividends and $4.3 billion in special dividends. The sharp reduction in special payouts compared to Q2 and Q3 indicates that dividend flows in late 2025 were almost entirely supported by recurring operating cash flows rather than one-time balance-sheet actions.

Overall, the quarterly pattern shows that while special dividends created temporary volatility earlier in the year, the underlying level of regular dividend payments remained consistently strong, confirming the durability of global corporate income generation into year-end (Figure 1).

Global Dividend Breakdown — Q1 2026 Year-to-Date

These charts show how global dividend payments have been distributed across sectors, industries, continents, and countries based on year-to-date data for the first quarter of 2026.

Energy currently leads all sectors, accounting for 17.26% of total global dividend payouts. Financial Services follow closely at 17.11%, while Technology (13.11%) has become an increasingly meaningful contributor to global income generation. Healthcare (10.71%) and Consumer Defensive (10.26%) continue to provide structural stability. The 31.55% “Other” category highlights the broad diversification of dividend-paying businesses across the global economy.

At the industry level, Oil & Gas Integrated companies represent the largest identifiable group at 9.86%. Drug Manufacturers contribute 8.42%, while Diversified Banks account for 6.27%. Specialty Industrial Machinery (5.02%) and Oil & Gas Midstream (4.29%) remain notable contributors. The sizable 66.13% “Other” segment underscores the wide spectrum of industries participating in global dividend generation.

Geographically, North America dominates year-to-date payouts at 82.04%, with Europe contributing 11.61% and Asia 6.14%. Oceania remains marginal at 0.21%.

By country, the United States represents 78.72% of total dividend payments so far in Q1 2026. India (5.62%) and Germany (4.37%) follow, while Canada (3.32%) and Italy (2.35%) contribute smaller but still meaningful shares. The remaining 5.62% is distributed across other countries.

Overall, the first-quarter data for 2026 shows a dividend landscape strongly concentrated in North America and energy-related sectors, while still supported by a diversified base of global industries.

U.S. Dividend Landscape

The chart shows total dividend payments by U.S. companies in 2025, broken down by quarter.

Dividend distributions remained relatively stable throughout the year. Q1 2025 delivered approximately $245 billion, followed by $225 billion in Q2 and $230 billion in Q3, reflecting consistent earnings and ongoing shareholder return policies across corporate America.

With Q4 2025 now reported, total U.S. dividends reached $226.1 billion, consisting of $222.9 billion in regular dividends and $3.2 billion in special dividends. The further decline in special payouts confirms that dividend income in late 2025 was driven almost entirely by recurring, operating cash flows rather than one-time distributions.

Overall, the quarterly pattern for 2025 indicates a stable and sustainable level of dividend payments, with regular dividends forming the core of shareholder returns as U.S. companies entered 2026.

U.S. Dividend Breakdown — Q1 2026 Year-to-Date

These charts show how dividend payments in the U.S. market are distributed across sectors and industries based on the latest year-to-date data for the first quarter of 2026.

Energy has moved into the leading position, accounting for 20.89% of total U.S. dividend payouts. Financial Services follow at 17.68%, while Healthcare (13.52%) and Technology (13.38%) form a strong second tier of contributors. Consumer Defensive represents 11.41%, reinforcing the role of essential-goods businesses in maintaining steady income streams.

At the industry level, Integrated Oil & Gas now leads with 12.53% of total payouts. Drug Manufacturers contribute 10.70%, while Oil & Gas Midstream adds another 5.45%. Diversified Banks account for 5.17%, and Telecom Services represent 4.53%.

Overall, the updated Q1 2026 data shows a clear shift toward energy-related payouts while maintaining a diversified income base across healthcare, technology, financials, and defensive sectors.

Cumulative Dividends Paid by U.S. Companies — Q1 2026 (YTD)

Dividend payments from U.S. companies continue to demonstrate stability in the first quarter of 2026, based on year-to-date data with the quarter still in progress.

So far in Q1 2026, total cumulative dividends paid amount to approximately $102.45 billion. Of that total, $101.43 billion represents regular dividends, while $1.02 billion comes from special dividends.

As in prior periods, the overwhelming majority of payouts are driven by recurring regular dividends rather than one-time distributions. This composition reinforces the structural strength of U.S. corporate cash flows and the continued reliance on sustainable operating earnings to support shareholder returns.

Since the quarter is not yet complete, these figures remain preliminary and will adjust as additional payments are reported. However, the current data indicates that dividend activity remains consistent and firmly supported by recurring distributions rather than special-event payouts.

Cumulative dividends paid by US Dividend Eagles in 2026

Dividend Eagles — companies with 15+ consecutive years of dividend growth — continue to deliver consistent cash distributions in the first quarter of 2026.

So far in Q1 2026, cumulative dividends paid by Dividend Eagles total approximately $9.51 billion, entirely composed of regular dividends. No special dividends have been reported at this stage of the quarter.

As the quarter is still in progress, these figures remain preliminary and will adjust as additional payments are recorded. However, the current data once again highlights the structural strength of this group: distributions are driven purely by recurring operating cash flows rather than one-time events.

The continued dominance of regular dividends reinforces the predictability and durability of income generated by long-term dividend growth companies.

Proof That Dividend Eagles Deliver, Year After Year

Over the past decade, U.S. Dividend Eagles — companies with 15+ consecutive years of dividend increases — have shown a steady and sustained expansion in total cash returned to shareholders.

Annual dividend payouts grew from approximately $68 billion in 2015 to $134.4 billion in 2025, representing nearly a 100% increase over the period. This growth reflects not only rising earnings but also a consistent commitment by these companies to return cash through regular dividend increases across multiple economic cycles.

The decade-long trend demonstrates that Dividend Eagles have been able to maintain and expand their payout capacity through periods of economic recovery, inflation, and shifting market conditions — providing a long-term foundation of reliable and growing shareholder income.

📊 This chart makes the MaxDividends concept crystal clear: when you own businesses that never stop paying and keep raising the bar every single year, your income stream snowballs in front of your eyes. These are not flashy promises — they are the most reliable wealth-building machines in the market.

Average Dividend Yield of Dividend Eagles, Q1 2026 (YTD)

Over the past six months, the average dividend yield of Dividend Eagles has moved through a noticeable cycle, reflecting shifts in valuation and price performance.

Yields stood near 2.27% in September, gradually eased to 2.15% in October, and then declined sharply to around 1.40% in November. A strong rebound followed in December, with yields peaking near 2.38%, before moderating again to 2.17% in January.

As of February 2026, the average dividend yield has declined to 1.45%, well below the long-term average of 1.97%.

This compression in yield suggests that price appreciation has outpaced dividend growth in recent months, creating a tighter income environment. While underlying dividend payments remain stable, current valuations imply a more premium pricing backdrop for Dividend Eagles compared to their historical average yield level.

🥇 Top 5 Dividend Eagles by Total Payouts (2026 YTD)

These are the heavyweights — the Dividend Eagles returning the most cash to shareholders right now:

1. Microsoft (MSFT) — 💵 $6.79B

2. Johnson & Johnson (JNJ) — 💵 $3.16B

3. Procter & Gamble (PG) — 💵 $2.59B

4. Visa (V) — 💵 $1.47B

5. Qualcomm (QCOM) — 💵 $0.98B

📊 Together, these five companies have already distributed approximately $15.0 billion in dividends in 2026 year-to-date — a clear illustration of the scale and consistency behind the Dividend Eagles group.

And that’s exactly what the Dividend Eagles List is all about. 🦅 It’s our curated lineup of 100+ U.S. companies that have raised dividends for 15+ consecutive years — the strongest, most consistent payers in the market. These aren’t just stocks; they’re proven wealth-building machines built on financial stability, resilience, and decades of shareholder commitment.

👉 The full, always-updated Dividend Eagles List is available inside the MaxDividends App — exclusive to our community.

U.S. Dividend Landscape - (S&P 500)

S&P 500 Dividend Yield — Historical Perspective

The S&P 500 dividend yield has drifted even lower, now sitting at 1.13% — one of the lowest levels in more than a century of market history. Stock prices remain high relative to the dividends companies pay, keeping yield levels deeply compressed.

When viewed against nearly 150 years of data, today’s yield stands far below the long-term historical norm of 3–5%.

S&P 500 Historical Dividend Trends

Inflation-adjusted dividends for the S&P 500 continue to show a steady long-term upward trajectory. Even with periodic economic shocks and market volatility, the underlying growth trend in real dividends has remained intact for more than a century.

The previous inflation-adjusted peak came in May 2020, when dividends reached 73.09. Today, that figure stands at 78.92, setting a new all-time high and highlighting the ongoing strength of corporate cash flows within the index.

S&P 500 Dividend Growth

The S&P 500 dividend growth trend continues to demonstrate long-term resilience. Over more than three decades, negative dividend growth has occurred only during major economic stress periods, highlighting how rarely large U.S. companies reduce their payouts on a broad basis.

The latest reading shows dividend growth at approximately 5.46%, indicating a moderate but still positive pace of expansion across the index. While this level is below the higher growth rates seen during earlier recovery phases, it remains consistent with an environment of stable corporate earnings and ongoing cash distributions.

Despite market volatility and shifting economic conditions, the longer-term pattern of dividend growth remains positive, reflecting the ability of S&P 500 companies to maintain and gradually increase shareholder payouts over time.

Inflation’s Impact on Dividends

Inflation has continued to move within a contained range entering 2026, shaping the real (inflation-adjusted) value of dividend income without creating renewed price instability.

After easing to a low near 2.3% in April 2025, inflation gradually accelerated through the summer, reaching 2.9% in August and peaking at 3.0% in September. It then moderated toward year-end, settling around 2.7% in November and December.

As of January 2026, inflation stands at 2.4%, marking a further decline from late-summer highs and bringing price growth closer to the mid-2% range.

This renewed moderation reduces pressure on real dividend income compared to the September peak. With inflation trending back toward the lower end of the recent range, nominal dividend increases are once again translating more effectively into real income growth.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

📊 View Full Report (PDF) 📊

🎁 One More Bonus!

My Personal Stock Watchlist — March 2026

A hand-picked list of the dividend stocks I’m actively tracking this month.

Each month I hand-pick a focused shortlist of dividend stocks worth watching. No guesswork, no hype — I screen thousands of companies and keep only the ones with strong balance sheets, reliable dividend growth, and long-term wealth-building potential.

This watchlist is where I’m putting my energy — a mix of high-yield opportunities and growth names with the power to multiply income streams over time. If you’re serious about building a future where dividends cover your lifestyle, this is where to start.

🎯 My 4 Standout Candidates for March

Read more

The MaxDividends Macro Report is your monthly deep dive into global dividend trends — packed with data, insights, and analysis from the most dividend-focused team and community in the world.

💬 Like, share, and repost to spread the dividend mindset!

Hey Dividend Investors!

Our latest MaxDividends Macro Report — January 2026 is here, and it’s loaded with sharp, data-driven insights to keep your income strategy moving upward.

Each week, we track thousands of dividend-paying companies across global markets — studying trends, running the numbers, and cutting through the noise so you don’t have to. Every chart, metric, and signal you see here comes from hours of careful analysis by the MaxDividends team.

And the mission behind all that work stays the same: helping you build a dividend income stream that’s reliable today and growing for years ahead.

We’re the most dividend-focused community on Earth — and you’re right in the heart of it.

The MaxDividends Macro Report

• Dividend Eagles: 3 Top-Performing Dividend Stocks of the Month

• Updated Dividend Eagles Top Stocks List

• The Most Notable Dividend Increases

• Dividend Macro Highlights:

  • Global Dividend Trends

  • US Dividend Trends

• ⭐ My Personal Stock Watchlist for January 2026

The new MaxDividends PDF Macro Report for January is a must-see for every dividend investor.

🎁 Bonus!

Inside, you’ll find 5 outstanding dividend stock ideas, fresh market trends, macro insights, and real-world plans to grow your income — all crafted by the MaxDividends team.

📊 View Full Report (PDF) 📊

We’re sharing it today with the entire community so everyone can see just how powerful these reports are — packed with value, guidance, and data worth far more than a couple cups of coffee. Trends, top lists, strategies, support, insights — and of course, the app that ties it all together.

Dividend Eagles Deliver ~$452M YTD

3 Top-Performing Dividend Eagles of January

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +18.21% LMT — Lockheed Martin

The Backbone of Global Defense

Lockheed Martin is the world’s largest defense contractor, supplying advanced aircraft, missile systems, space technologies, and classified platforms to the U.S. government and allied nations. Its programs — from the F-35 fighter jet to missile defense and space systems — sit at the center of global security infrastructure.

Founded in 1995 and headquartered in Maryland, Lockheed operates with decades-long contracts, government-backed demand, and massive switching costs. Once a system is embedded into a military ecosystem, it stays there for decades — creating one of the most stable revenue models in the entire industrial world.

That stability flows straight into predictable free cash flow. With disciplined capital allocation and a shareholder-first dividend policy, Lockheed Martin continues to raise dividends through wars, recessions, and political cycles — exactly the kind of income machine long-term dividend portfolios are built on.

🥈 +20.78% TTC — The Toro Company

Quietly Powering the Real World

Toro designs and manufactures professional turf, landscaping, irrigation, and outdoor equipment used by golf courses, municipalities, sports complexes, and homeowners across the globe. When grass needs to be cut, fields need to be maintained, or cities need to stay clean — Toro is there.

Founded in 1914 and based in Minnesota, Toro has built a powerful portfolio of premium brands with strong dealer networks and high customer loyalty. Its products live in the physical world — where demand doesn’t disappear when software cycles slow or headlines change.

That makes its cash flows remarkably durable. Toro reinvests carefully, maintains a strong balance sheet, and steadily grows its dividend as the world keeps mowing, watering, and maintaining real infrastructure.

🥇 +27.84% KLAC — KLA Corporation

The Gatekeeper of the Semiconductor Industry

KLA is one of the most important — and least visible — companies in the global technology supply chain. It builds the inspection, metrology, and process-control systems that chipmakers rely on to produce advanced semiconductors. If fabs can’t measure and control defects, chips simply don’t get made.

Founded in 1975 and headquartered in California, KLA sits at a near-monopoly position in several critical steps of semiconductor manufacturing. As chips become smaller, more complex, and more expensive, KLA’s tools become even more indispensable.

That structural advantage translates into exceptionally high margins and powerful free cash flow generation. KLA uses that cash to invest in next-generation technology — while consistently returning capital to shareholders through growing dividends and buybacks.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

15+ consecutive years of dividend increases

Qualcomm pays a quarterly cash dividend — as of now, it’s $0.89 per share. That adds up to roughly $3.56 per share per year, giving a yield of around 2.05%.

The company has been steadily raising its dividend: in March 2025, Qualcomm bumped it up from $0.85 to $0.89. Their long-term track record shows consistent growth — according to Dearborn Partners, that was the 21st consecutive annual dividend increase.

When it comes to sustainability, the payout ratio (how much of its earnings Qualcomm pays out as dividends) is moderate. Based on trailing earnings, it’s about 72.8%, but based on estimates for next year it drops to around 36%.

On top of dividends, Qualcomm also returns capital via share buybacks, which helps boost total shareholder returns.

If you want to dive deeper, the full list of all Dividend Eagles — with up-to-date analytics, financial scores, valuations, streaks, payout metrics, and every data point you need — is available inside the MaxDividends App for all partners right here:

👉 the full list of all Dividend Eagles

This is where you can explore every Eagle in detail, compare quality, screen for opportunities, and build a portfolio with true long-term horsepower.

And now, let’s get into the good part — a hand-picked set of dividend ideas worth your attention this month, selected for reliability, growth, and real income-producing strength. Let’s dive in.

The Most Notable Dividend Increases of the Month

Broadcom (AVGO) — Dividend Increase: +10.2%

14+ consecutive years of rising dividends

Broadcom is one of the most important infrastructure companies in the global technology ecosystem, supplying semiconductors and software that sit deep inside data centers, networking equipment, broadband systems, and enterprise IT environments. Its products power the physical backbone of cloud computing, AI, and global connectivity.

The company’s business is built around high switching costs, long product cycles, and mission-critical technology that customers simply cannot replace easily. That creates strong pricing power and highly durable free cash flow — even through volatile technology cycles.

Broadcom raised its dividend by 10.2%, extending its dividend growth streak to 14 consecutive years. The increase reflects management’s confidence in the company’s cash-generating power as demand for data, AI infrastructure, and connectivity continues to expand — reinforcing Broadcom’s role as a premium income-growth engine inside dividend portfolios.

Abbott Laboratories (ABT) — Dividend Increase: +6.8%

50+ consecutive years of rising dividends

Abbott is a global healthcare powerhouse spanning diagnostics, medical devices, nutrition, and branded generic pharmaceuticals. Its products are deeply embedded in hospitals, clinics, and households worldwide — supporting steady, non-cyclical demand driven by demographics and healthcare needs.

With diversified revenue streams and strong intellectual property, Abbott generates reliable cash flow across economic cycles. People don’t stop needing medical tests, heart devices, or infant nutrition when markets get volatile — and that stability is exactly what long-term dividend investors value.

Abbott increased its dividend by 6.8%, extending its remarkable streak to 53 consecutive years of dividend growth. This places Abbott firmly among the elite Dividend Kings, demonstrating how essential-services businesses can quietly compound income for decades.

Bank OZK (OZK) — Dividend Increase: +2.2%

25 consecutive years of rising dividends. Fourth increase in the past 12 months

Bank OZK is a specialized regional bank known for its disciplined credit underwriting, strong capital ratios, and focus on high-quality commercial real estate and specialty lending. Unlike many banks that chase growth through risk, OZK has built a reputation for protecting capital first — then compounding it steadily.

That conservative approach produces resilient earnings and excess capital, allowing the bank to reward shareholders even when the broader financial sector faces uncertainty.

OZK raised its dividend again by 2.2% — the fourth increase in the last 12 months — extending its dividend growth streak to 25 consecutive years. This pattern of frequent raises signals both confidence in cash flow and a shareholder-friendly capital policy, making Bank OZK a quiet but powerful income compounder inside dividend portfolios.

The Most Solid Recent Dividend Hikes

• Automatic Data Processing (ADP) +10.39%

• Atmos Energy (ATO) +14.94%

• Griffon (GFF) +22.22%

• Motorola Solutions (MSI) +11.01%

• PulteGroup (PHM) +18.18%

• Patrick Industries (PATK) +17.50%

• Roper Technologies (ROP) +10.30%

• Snap-on (SNA) +14.02%

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

Global: Latest Dividend Data

The global cumulative dividend payout for Q4 2025 continued the upward trajectory observed since the post-pandemic recovery. Total dividends reached approximately $1.67 trillion, with the vast majority coming from regular dividend payments rather than special distributions.

This composition indicates that dividend growth is being driven primarily by recurring operating cash flows, rather than one-time balance-sheet actions. The stability of regular payouts suggests that corporate earnings and cash-flow generation remain sufficiently strong to support ongoing shareholder distributions.

Global Total Quarterly Dividend Payments (US$ Billions)

Global dividend payments remained elevated throughout 2025, reflecting stable corporate earnings and sustained shareholder return policies across major markets. Companies distributed approximately $400 billion in dividends during the first quarter, followed by a peak of nearly $570 billion in the second quarter, driven in part by elevated special dividends.

In Q3 2025, total payouts moderated to roughly $380 billion as special distributions declined, while regular dividends remained stable.

With Q4 2025 now fully reported, global dividends totaled approximately $302 billion, including $297.5 billion in regular dividends and $4.3 billion in special dividends. The sharp reduction in special payouts compared to Q2 and Q3 indicates that dividend flows in late 2025 were almost entirely supported by recurring operating cash flows rather than one-time balance-sheet actions.

Overall, the quarterly pattern shows that while special dividends created temporary volatility earlier in the year, the underlying level of regular dividend payments remained consistently strong, confirming the durability of global corporate income generation into year-end (Figure 1).

Global Dividend Breakdown — Q4 2025 Year-to-Date

These charts show how global dividend payments have been distributed across sectors and industries through the latest data for 2025.

Financial Services remain firmly in the lead, accounting for 26.23% of all global dividend payouts. Industrials contribute 10.83%, while Consumer Defensive (9.73%), Technology (9.54%), and Healthcare (9.31%) each play similarly sized roles in the global income landscape. The broad 34.35% “Other” category underscores the growing diversification of dividend-paying companies worldwide.

At the industry level, banks continue to dominate, with diversified and regional banks combining for 15.63% of total global payouts. Drug manufacturers (6.49%), integrated oil & gas (4.30%), and diversified insurance (2.45%) also remain meaningful contributors.

Meanwhile, the large 71.12% “Other” segment reflects the wide range of industries now participating in global dividend generation.

U.S. Dividend Landscape

The chart shows total dividend payments by U.S. companies in 2025, broken down by quarter.

Dividend distributions remained relatively stable throughout the year. Q1 2025 delivered approximately $245 billion, followed by $225 billion in Q2 and $230 billion in Q3, reflecting consistent earnings and ongoing shareholder return policies across corporate America.

With Q4 2025 now reported, total U.S. dividends reached $226.1 billion, consisting of $222.9 billion in regular dividends and $3.2 billion in special dividends. The further decline in special payouts confirms that dividend income in late 2025 was driven almost entirely by recurring, operating cash flows rather than one-time distributions.

Overall, the quarterly pattern for 2025 indicates a stable and sustainable level of dividend payments, with regular dividends forming the core of shareholder returns as U.S. companies entered 2026.

U.S. Dividend Breakdown — Q4 2025 Year-to-Date

These charts show how dividend payments in the U.S. market are distributed across sectors and industries.

Financial Services remain the dominant dividend-paying sector, contributing 25.23% of all U.S. payouts. Technology follows with 14.26%, while Healthcare (12.24%), Consumer Defensive (10.57%), and Energy (9.68%) form a balanced group of steady contributors. The 28.03% “Other” category continues to signal a broadening dividend base across the market.

At the industry level, diversified banks lead with 11.85% of total payouts. Drug manufacturers add 8.95%, while regional banks contribute another 5.00%. Integrated oil & gas (4.58%) and semiconductors (4.07%) round out the next tier. The large 65.55% “Other” share highlights the wide variety of industries now playing meaningful roles in the U.S. dividend landscape.

Cumulative dividends paid by US companies in 2025

Dividends paid by U.S. companies continued to rise steadily throughout 2025, reflecting stable earnings and a consistent commitment to shareholder distributions.

Cumulative payouts reached approximately $240B by Q1, increased to around $470B by Q2, and surpassed $700B by Q3. With Q4 2025 now fully reported, total dividends for the year reached $935.8 billion, consisting of $920.1 billion in regular dividends and $15.7 billion in special dividends.

The overwhelming share of regular dividends confirms that U.S. corporate payout growth in 2025 was driven primarily by recurring operating cash flows rather than one-time distributions, underscoring the stability and predictability of dividend income across the U.S. market.

Cumulative dividends paid by US Dividend Eagles in 2025

Dividend Eagles — companies with 15+ years of consecutive dividend growth — continued to deliver steadily rising cash distributions throughout 2025.

Cumulative payouts reached approximately $32B by Q1, increased to around $65B by Q2, and surpassed $100B by Q3. With Q4 2025 now fully reported, total dividends paid by Dividend Eagles reached $134.5 billion, including $134.4 billion in regular dividends and only a negligible amount of special distributions.

The quarterly progression shows a smooth and consistent increase in payouts, reflecting the strength and stability of this group’s underlying earnings and cash-flow generation. The near-total reliance on regular dividends further underscores the predictability and durability of income produced by long-term dividend growth companies.

Proof That Dividend Eagles Deliver, Year After Year

Over the past decade, U.S. Dividend Eagles — companies with 15+ consecutive years of dividend increases — have shown a steady and sustained expansion in total cash returned to shareholders.

Annual dividend payouts grew from approximately $68 billion in 2015 to $134.4 billion in 2025, representing nearly a 100% increase over the period. This growth reflects not only rising earnings but also a consistent commitment by these companies to return cash through regular dividend increases across multiple economic cycles.

The decade-long trend demonstrates that Dividend Eagles have been able to maintain and expand their payout capacity through periods of economic recovery, inflation, and shifting market conditions — providing a long-term foundation of reliable and growing shareholder income.

📊 This chart makes the MaxDividends concept crystal clear: when you own businesses that never stop paying and keep raising the bar every single year, your income stream snowballs in front of your eyes. These are not flashy promises — they are the most reliable wealth-building machines in the market.

Average Dividend Yield of Dividend Eagles, Q4 2025

In 2025, the average dividend yield of Dividend Eagles moved through a modest midyear cycle before stabilizing into year-end. Yields started near 2.10% in Q1, peaked around 2.30% in Q2, and then dipped to just above 2.08% in Q3.

By Q4, the average yield recovered to 2.12%, landing slightly below the long-term average of 2.15%. This mild rebound suggests steady income conditions and a broadly stable valuation backdrop for America’s most reliable dividend growers.

🥇 Top 5 Dividend Eagles by Total Payouts (2025 YTD)

These are the heavyweights — the Dividend Eagles returning the most cash to shareholders right now:

1. Microsoft (MSFT) — 💵 $25.38B in dividends

2. Johnson & Johnson (JNJ) — 💵 $12.37B

3. Procter & Gamble (PG) — 💵 $10.25B

4. Home Depot (HD) — 💵 $9.02B

5. Coca-Cola (KO) — 💵 $8.81B

📊 Together, just these five companies alone have distributed over $55 billion in dividends so far — a powerful reminder of what it means to own reliable, world-class businesses that never stop paying.

And that’s exactly what the Dividend Eagles List is all about. 🦅 It’s our curated lineup of 100+ U.S. companies that have raised dividends for 15+ consecutive years — the strongest, most consistent payers in the market. These aren’t just stocks; they’re proven wealth-building machines built on financial stability, resilience, and decades of shareholder commitment.

👉 The full, always-updated Dividend Eagles List is available inside the MaxDividends App — exclusive to our community.

U.S. Dividend Landscape - (S&P 500)

S&P 500 Dividend Yield — Historical Perspective

The S&P 500 dividend yield has drifted even lower, now sitting at 1.13% — one of the lowest levels in more than a century of market history. Stock prices remain high relative to the dividends companies pay, keeping yield levels deeply compressed.

When viewed against nearly 150 years of data, today’s yield stands far below the long-term historical norm of 3–5%.

S&P 500 Historical Dividend Trends

Inflation-adjusted dividends for the S&P 500 continue to show a steady long-term upward trajectory. Even with periodic economic shocks and market volatility, the underlying growth trend in real dividends has remained intact for more than a century.

The previous inflation-adjusted peak came in May 2020, when dividends reached 73.09. Today, that figure stands at 78.92, setting a new all-time high and highlighting the ongoing strength of corporate cash flows within the index.

S&P 500 Dividend Growth

The S&P 500 dividend growth trend continues to demonstrate long-term resilience. Over more than three decades, negative dividend growth has occurred only during major economic stress periods, highlighting how rarely large U.S. companies reduce their payouts on a broad basis.

The latest reading shows dividend growth at approximately 5.46%, indicating a moderate but still positive pace of expansion across the index. While this level is below the higher growth rates seen during earlier recovery phases, it remains consistent with an environment of stable corporate earnings and ongoing cash distributions.

Despite market volatility and shifting economic conditions, the longer-term pattern of dividend growth remains positive, reflecting the ability of S&P 500 companies to maintain and gradually increase shareholder payouts over time.

Inflation’s Impact on Dividends

Inflation remained within a relatively narrow range through the second half of 2025, continuing to shape the real (inflation-adjusted) value of dividend income.

After easing to a low of approximately 2.3% in March, inflation gradually moved higher through mid-year, rising to around 2.7% in July and 2.9% in August, before reaching 3.0% in September. Following that peak, inflation moderated again, falling back to approximately 2.7% by December 2025.

This pattern indicates that while price pressures increased during the late summer, inflation did not become entrenched at higher levels. The return toward the mid-2% range by year-end suggests a relatively stable inflation backdrop, allowing real dividend growth to remain supported by nominal dividend increases rather than being eroded by accelerating consumer prices.

This moderation toward the mid-2% range reduces pressure on inflation-adjusted S&P 500 dividends compared with the late-summer peak, allowing real dividend growth to remain relatively stable.

However, inflation remains above the levels seen in early 2025, which continues to limit the pace at which real dividend income can accelerate, keeping growth steady rather than returning to the stronger expansion observed immediately after the 2022 inflation peak.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

📊 View Full Report (PDF) 📊

🎁 One More Bonus!

My Personal Stock Watchlist — January 2025

A hand-picked list of the dividend stocks I’m actively tracking this month.

Each month I hand-pick a focused shortlist of dividend stocks worth watching. No guesswork, no hype — I screen thousands of companies and keep only the ones with strong balance sheets, reliable dividend growth, and long-term wealth-building potential.

This watchlist is where I’m putting my energy — a mix of high-yield opportunities and growth names with the power to multiply income streams over time. If you’re serious about building a future where dividends cover your lifestyle, this is where to start.

🎯 My 4 Standout Candidates for January

Read more

The MaxDividends Macro Report is your monthly deep dive into global dividend trends — packed with data, insights, and analysis from the most dividend-focused team and community in the world.

💬 Like, share, and repost to spread the dividend mindset!

Hey Dividend Investors!

Our latest MaxDividends Macro Report — December 2025 is here, and it’s loaded with sharp, data-driven insights to keep your income strategy moving upward.

Each week, we track thousands of dividend-paying companies across global markets — studying trends, running the numbers, and cutting through the noise so you don’t have to. Every chart, metric, and signal you see here comes from hours of careful analysis by the MaxDividends team.

And the mission behind all that work stays the same: helping you build a dividend income stream that’s reliable today and growing for years ahead.

We’re the most dividend-focused community on Earth — and you’re right in the heart of it.

The MaxDividends Macro Report

• Dividend Eagles: 3 Top-Performing Dividend Stocks of the Month

• Updated Dividend Eagles Top Stocks List

• The Most Notable Dividend Increases

• Dividend Macro Highlights:

  • Global Dividend Trends

  • US Dividend Trends

• ⭐ My Personal Stock Watchlist for December 2025

The new MaxDividends PDF Macro Report for December is a must-see for every dividend investor.

🎁 Bonus!

Inside, you’ll find 5 outstanding dividend stock ideas, fresh market trends, macro insights, and real-world plans to grow your income — all crafted by the MaxDividends team.

📊 View Full Report (PDF) 📊

We’re sharing it today with the entire community so everyone can see just how powerful these reports are — packed with value, guidance, and data worth far more than a couple cups of coffee. Trends, top lists, strategies, support, insights — and of course, the app that ties it all together.

Dividend Eagles Deliver ~$157B YTD

3 Top-Performing Dividend Eagles of December

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +18.19% ADI Analog Devices

Precision Powering the Digital World

Analog Devices is a global leader in high-performance analog, mixed-signal, and digital signal processing semiconductors. Its chips sit deep inside mission-critical systems — from industrial automation and automotive electronics to communications infrastructure and healthcare equipment.

Founded in 1965 and headquartered in Massachusetts, ADI has built its reputation on engineering excellence and long product lifecycles. Many of its components remain in use for decades, creating stable, recurring demand that few semiconductor companies can match.

This durability translates into strong free cash flow across cycles. Combined with disciplined capital allocation and a conservative payout philosophy, it has supported ADI’s long-standing record of consistent dividend growth — even through volatile tech cycles.

🥈 +18.65% ACU Acme United Corp

Essential Tools, Quietly Compounding

Acme United is a niche manufacturer of everyday, mission-critical tools — including first-aid kits, cutting instruments, and safety products used in homes, schools, workplaces, and industrial environments.

Founded in 1867 and headquartered in Connecticut, Acme United operates with a focused, no-nonsense business model. Its brands may not grab headlines, but they occupy stable, repeat-purchase categories with steady demand across economic conditions.

This consistency shows up in reliable cash generation and conservative balance-sheet management. By keeping operations lean and capital needs modest, Acme United has quietly maintained a durable dividend growth record — a textbook example of how boring businesses often make excellent income investments.

🥇 +23.61% JBHT J.B. Hunt Transport Services

Moving America, Mile After Mile

J.B. Hunt is one of the largest and most influential logistics operators in the United States, managing freight across trucking, rail, and intermodal networks. Its services form a critical backbone of the U.S. supply chain, supporting retailers, manufacturers, and industrial customers nationwide.

Founded in 1961 and based in Arkansas, J.B. Hunt pioneered the truck-to-rail intermodal model — long before efficiency and emissions became industry priorities. Today, its scale, technology platform, and long-term customer contracts give it a powerful competitive position.

Those advantages drive steady operating cash flow through economic cycles. Combined with disciplined reinvestment and shareholder-friendly capital allocation, J.B. Hunt continues to grow dividends while modernizing the infrastructure that keeps American commerce moving.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

15+ consecutive years of dividend increases

Qualcomm pays a quarterly cash dividend — as of now, it’s $0.89 per share. That adds up to roughly $3.56 per share per year, giving a yield of around 2.05%.

The company has been steadily raising its dividend: in March 2025, Qualcomm bumped it up from $0.85 to $0.89. Their long-term track record shows consistent growth — according to Dearborn Partners, that was the 21st consecutive annual dividend increase.

When it comes to sustainability, the payout ratio (how much of its earnings Qualcomm pays out as dividends) is moderate. Based on trailing earnings, it’s about 72.8%, but based on estimates for next year it drops to around 36%.

On top of dividends, Qualcomm also returns capital via share buybacks, which helps boost total shareholder returns.

If you want to dive deeper, the full list of all Dividend Eagles — with up-to-date analytics, financial scores, valuations, streaks, payout metrics, and every data point you need — is available in Premium inside the MaxDividends App for all partners right here:

👉 the full list of all Dividend Eagles

This is where you can explore every Eagle in detail, compare quality, screen for opportunities, and build a portfolio with true long-term horsepower.

And now, let’s get into the good part — a hand-picked set of dividend ideas worth your attention this month, selected for reliability, growth, and real income-producing strength. Let’s dive in.

The Most Notable Dividend Increases of the Month

Mastercard (MA) — Dividend Increase: +14.5%

14+ consecutive years of rising dividends

Mastercard operates one of the world’s largest global payments networks, enabling electronic transactions across consumers, merchants, banks, and digital platforms in more than 200 countries. Its asset-light, toll-booth business model benefits from global commerce growth, pricing power, and secular shifts away from cash.

The company’s scale, trusted brand, and embedded role in global payment infrastructure translate into consistently high margins and strong free cash flow generation across economic cycles.

Mastercard raised its quarterly dividend from $0.76 to $0.87 per share, a 14.5% increase, extending its dividend growth streak to 14 consecutive years. The increase reflects strong underlying cash generation and a long runway for continued dividend growth supported by low capital intensity and disciplined capital allocation.

Automatic Data Processing (ADP) — Dividend Increase: +10.4%

50+ consecutive years of rising dividends

Automatic Data Processing is a global leader in payroll processing, human capital management, and workforce services. Its deeply embedded client relationships, recurring revenue model, and mission-critical services create highly predictable cash flows.

ADP’s business benefits from employment scale, regulatory complexity, and high switching costs — factors that support resilience through economic cycles and make it a cornerstone holding for income-focused investors.

The company increased its quarterly dividend from $1.54 to $1.70 per share, a 10.4% raise, extending an exceptional 51-year dividend growth streak. This places ADP among the most elite long-term dividend compounders in the market, supported by decades of conservative financial management and durable earnings power.

Atmos Energy (ATO) — Dividend Increase: +14.9%

40+ consecutive years of rising dividends

Atmos Energy is a regulated natural gas utility serving residential, commercial, and industrial customers across multiple U.S. states. Its earnings are driven primarily by rate-based infrastructure investments and long-term regulatory frameworks designed to deliver steady returns.

As a utility, Atmos prioritizes system safety, modernization, and predictable capital deployment — resulting in stable earnings visibility and dependable cash flows largely insulated from economic volatility.

Atmos raised its quarterly dividend from $0.87 to $1.00 per share, a 14.9% increase, extending its dividend growth streak to 42 consecutive years. The hike reflects confidence in its regulated growth model and reinforces Atmos Energy’s role as a reliable, income-focused compounder within dividend portfolios.

The Most Solid Recent Dividend Hikes

• ACNB (ACNB) +11.76%

• American Financial Group (AFG) +10.00%

• Amphenol (APH) +51.52%

• D.R. Horton (DHI) +12.50%

• CRA (CRAI) +16.33%

• Comfort Systems USA (FIX) +20.00%

• Murphy USA (MUSA) +18.87%

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

Global: Latest Dividend Data

The global cumulative dividend payout for Q3 2025 continued the upward trend seen in Q2 2020.

This indicates that most dividend-paying companies have weathered the impact of the 2020 crisis and successfully adapted their businesses to the new reality.

Global Total Quarterly Dividend Payments (US$ Billions)

Global dividend payments continued to show strong momentum through 2025. Companies paid out approximately $390 billion in dividends during the first quarter, followed by a significantly higher $570+ billion in the second quarter.

With Q3 now fully reported, total dividend payments reached $371.6 billion, including regular and special distributions. While lower than the exceptionally strong Q2 levels, the third quarter still reflects a solid global payout pace and underscores the resilience of corporate cash flows across major markets (Figure 1).

Global Dividend Breakdown — Q4 2025 Year-to-Date

These charts show how global dividend payments have been distributed across sectors and industries through the latest data for 2025.

Financial Services remain firmly in the lead, accounting for 26.23% of all global dividend payouts. Industrials contribute 10.83%, while Consumer Defensive (9.73%), Technology (9.54%), and Healthcare (9.31%) each play similarly sized roles in the global income landscape. The broad 34.35% “Other” category underscores the growing diversification of dividend-paying companies worldwide.

At the industry level, banks continue to dominate, with diversified and regional banks combining for 15.63% of total global payouts. Drug manufacturers (6.49%), integrated oil & gas (4.30%), and diversified insurance (2.45%) also remain meaningful contributors.

Meanwhile, the large 71.12% “Other” segment reflects the wide range of industries now participating in global dividend generation.

U.S. Dividend Landscape

The chart illustrates total dividend payments by U.S. companies in 2025, broken down by quarter.

Q1 and Q2 maintained strong momentum, with payouts in the $230–240 billion range — reflecting healthy profits and continued commitment to shareholder returns.

For Q3 2025, total dividends reached $223.9 billion, including $217.0 billion in regular dividends and $6.9 billion in special dividends.

Regular payouts continue to make up the vast majority of distributions, while special dividends add a modest boost — together confirming that U.S. companies remain financially strong and shareholder-oriented heading into year-end.

U.S. Dividend Breakdown — Q4 2025 Year-to-Date

These charts show how dividend payments in the U.S. market are distributed across sectors and industries as 2025 approaches its final stretch.

Financial Services remain the dominant dividend-paying sector, contributing 25.23% of all U.S. payouts. Technology follows with 14.26%, while Healthcare (12.24%), Consumer Defensive (10.57%), and Energy (9.68%) form a balanced group of steady contributors. The 28.03% “Other” category continues to signal a broadening dividend base across the market.

At the industry level, diversified banks lead with 11.85% of total payouts. Drug manufacturers add 8.95%, while regional banks contribute another 5.00%. Integrated oil & gas (4.58%) and semiconductors (4.07%) round out the next tier. The large 65.55% “Other” share highlights the wide variety of industries now playing meaningful roles in the U.S. dividend landscape.

Cumulative dividends paid by US companies in 2025

Dividends paid by U.S. companies in 2025 continue to grow steadily as the year progresses.

Cumulative payouts reached roughly $235B by Q1, climbed to around $470B by Q2, and moved past $680B in Q3. As of the latest Q4 data — with the quarter still underway — cumulative dividends have already exceeded $820B, pointing to another strong finish for the year.

Regular dividends remain the dominant driver of total payouts, while special dividends contribute only a small share, underscoring the reliability and consistency of U.S. corporate cash distributions.

Cumulative dividends paid by US Dividend Eagles in 2025

Dividend Eagles — companies with 15+ years of consecutive dividend growth — have now paid out more than $120B in dividends year-to-date 2025.

Payouts continued to rise quarter after quarter: roughly $35B by Q1, nearly $75B by Q2, and just over $110B by Q3. With Q4 still underway, total dividends have already surpassed $120B, reflecting another strong year of steady, reliable cash returns from America’s most consistent dividend growers.

Proof That Dividend Eagles Deliver, Year After Year

Over the past decade, US Dividend Eagles — companies with 15+ years of consecutive dividend increases — have nearly doubled their annual payouts, climbing from around $75B in 2016 to more than $140B in 2024. That’s pure cash returned to shareholders, without even counting the effect of reinvestment.

📊 This chart makes the MaxDividends concept crystal clear: when you own businesses that never stop paying and keep raising the bar every single year, your income stream snowballs in front of your eyes. These are not flashy promises — they are the most reliable wealth-building machines in the market.

Average Dividend Yield of Dividend Eagles, Q4 2025

In 2025, the average dividend yield of Dividend Eagles moved through a modest midyear cycle before stabilizing into year-end. Yields started near 2.10% in Q1, peaked around 2.30% in Q2, and then dipped to just above 2.08% in Q3.

By Q4, the average yield recovered to 2.12%, landing slightly below the long-term average of 2.15%. This mild rebound suggests steady income conditions and a broadly stable valuation backdrop for America’s most reliable dividend growers.

🥇 Top 5 Dividend Eagles by Total Payouts (2025 YTD)

These are the heavyweights — the Dividend Eagles returning the most cash to shareholders right now:

1. Microsoft (MSFT) — 💵 $25.38B in dividends

2. Johnson & Johnson (JNJ) — 💵 $12.37B

3. Procter & Gamble (PG) — 💵 $10.25B

4. Home Depot (HD) — 💵 $9.02B

5. Coca-Cola (KO) — 💵 $8.81B

📊 Together, just these five companies alone have distributed over $55 billion in dividends so far — a powerful reminder of what it means to own reliable, world-class businesses that never stop paying.

And that’s exactly what the Dividend Eagles List is all about. 🦅 It’s our curated lineup of 100+ U.S. companies that have raised dividends for 15+ consecutive years — the strongest, most consistent payers in the market. These aren’t just stocks; they’re proven wealth-building machines built on financial stability, resilience, and decades of shareholder commitment.

👉 The full, always-updated Dividend Eagles List is available inside the MaxDividends App — exclusive to our community.

U.S. Dividend Landscape - (S&P 500)

S&P 500 Dividend Yield — Historical Perspective

The S&P 500 dividend yield has drifted even lower, now sitting at 1.16% — one of the lowest levels in more than a century of market history. Stock prices remain high relative to the dividends companies pay, keeping yield levels deeply compressed.

When viewed against nearly 150 years of data, today’s yield stands far below the long-term historical norm of 3–5%.

S&P 500 Historical Dividend Trends

Inflation-adjusted dividends for the S&P 500 continue to show a steady long-term upward trajectory. Even with periodic economic shocks and market volatility, the underlying growth trend in real dividends has remained intact for more than a century.

The previous inflation-adjusted peak came in May 2020, when dividends reached 73.09. Today, that figure stands at 78.48, setting a new all-time high and highlighting the ongoing strength of corporate cash flows within the index.

S&P 500 Dividend Growth

The S&P 500 dividend growth trend continues to demonstrate long-term resilience. Over the past 32 years, negative dividend growth has appeared only during major crisis periods — confirming how rarely large U.S. companies reduce their payouts.

The latest reading shows dividend growth at 6.92%, reflecting a steady pace of expansion and solid earnings support across the index.

Despite market volatility and shifting economic conditions, the broader pattern remains firmly positive.

Inflation’s Impact on Dividends

Inflation has continued to move in a narrow range through 2025, shaping how real (inflation-adjusted) S&P 500 dividends appear on the long-term chart. After cooling sharply from the 2022 peak, inflation remained subdued in early 2025 — dipping to 2.3% in March — which provided a more supportive backdrop for real dividend growth.

Through mid-2025, inflation hovered between 2.4% and 2.7%, before rising again toward 2.9% in late summer and touching 3.0% in September.

This mild reacceleration limits the pace at which inflation-adjusted S&P 500 dividends can expand, keeping real dividend growth steady but far from the powerful upswing seen right after the 2022 inflation peak.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

📊 View Full Report (PDF) 📊

🎁 One More Bonus!

My Personal Stock Watchlist — December 2025

A hand-picked list of the dividend stocks I’m actively tracking this month.

Each month I hand-pick a focused shortlist of dividend stocks worth watching. No guesswork, no hype — I screen thousands of companies and keep only the ones with strong balance sheets, reliable dividend growth, and long-term wealth-building potential.

This watchlist is where I’m putting my energy — a mix of high-yield opportunities and growth names with the power to multiply income streams over time. If you’re serious about building a future where dividends cover your lifestyle, this is where to start.

🎯 My 6 Standout Candidates for December

Novo Nordisk (NVO)

Dividend Yield 3.76% | MaxRatio 26.98 | Financial Score 98

Novo Nordisk is a global healthcare leader best known for its diabetes and obesity treatments. Founded in 1923 and headquartered in Denmark, the company operates in more than 170 countries, with products serving millions of patients worldwide.

Key Business Segments

• Diabetes & Obesity Care – Insulin, GLP-1 therapies, and innovative treatments for diabetes and weight management.

• Rare Disease Treatments – Specialty medicines targeting hemophilia, growth disorders, and other rare conditions.

• Biopharma & R&D – Heavy investment in next-generation biologics and clinical trials for chronic diseases.

Takeaway: With 29 straight years of dividend increases and 173% dividend growth in the last five years, Novo Nordisk is one of the most reliable healthcare dividend growth engines in the world.

Shoe Carnival (SCVL)

Dividend Yield 3.19% | MaxRatio 19.02 | Financial Score 96

Shoe Carnival Inc. is a U.S. footwear retailer offering affordable brand-name shoes for the entire family. Founded in 1978 and headquartered in Evansville, Indiana, it runs 400+ stores across the U.S. and Puerto Rico, blending value pricing with an upbeat in-store experience.

Key Business Segments

• Retail Stores – Wide selection of athletic, casual, and dress footwear for men, women, and children.

• E-Commerce – Online sales with buy-online, pick-up in-store convenience.

• Private Label Brands – Exclusive offerings that boost margins and differentiate the product mix.

• Loyalty Program (Shoe Perks) – Personalized promotions and repeat-customer rewards.

Takeaway: With 218% dividend growth in just five years and a conservative payout ratio under 20%, Shoe Carnival has emerged as a true dividend growth underdog.

Bank OZK (OZK)

Dividend Yield 3.81% | MaxRatio 10.25 | Financial Score 90

Bank OZK is a regional bank headquartered in Little Rock, Arkansas. Founded in 1903, it operates across the Southern U.S., offering retail and commercial banking services with a focus on conservative lending.

Key Business Segments

• Community Banking – Personal checking, savings, and lending services across multiple states.

• Commercial Real Estate Lending – Nationally recognized lender in real estate development finance.

• Treasury & Wealth Management – Services tailored to both individuals and businesses.

Takeaway: With 25 consecutive years of dividend increases and a payout ratio under 30%, Bank OZK is a steady regional bank with dependable dividend growth.

Snap-on Incorporated (SNA)

Dividend Yield 2.82% | MaxRatio 10.90 | Financial Score 99

Snap-on is a global leader in professional tools, diagnostics, and equipment used by automotive technicians, industrial operators, and repair professionals. Its premium brands are deeply embedded in daily workflows, supported by a franchise-based distribution model that reinforces pricing power and customer loyalty.

Founded in 1920 and headquartered in Wisconsin, Snap-on operates worldwide, combining manufacturing excellence with direct customer relationships. Its tools are mission-critical, non-discretionary purchases — making demand resilient even during economic slowdowns.

Key Business Segments

• Tools Group – Hand tools, power tools, and tool storage for professional technicians

• Repair Systems & Information – Diagnostics, software, and repair solutions for modern vehicles

• Commercial & Industrial – Tools and equipment for aerospace, defense, and heavy industry

• Franchise Network – Direct distribution model enhancing margins and customer retention

Takeaway: With a Financial Score of 99, a balanced 45% payout ratio, and nearly 100% dividend growth over the past five years, Snap-on exemplifies a high-quality dividend growth business. While fairly valued today, its strong margins, brand power, and long dividend history support continued compounding for patient income investors.

G-Tekt Corp (5970)

Dividend Yield 5.00% | MaxRatio 15.97 | Financial Score 96

G-Tekt Corp is a Japanese manufacturer of automotive body and chassis components, specializing in high-precision metal stamping and structural parts for global automakers. The company plays a critical role in vehicle safety, weight reduction, and manufacturing efficiency — areas that remain essential regardless of economic cycles.

Founded in 1952 and headquartered in Japan, G-Tekt operates production facilities across Asia, North America, and Europe, supplying long-term customers under multi-year contracts. Its close integration with OEM production lines creates stable demand and high switching costs.

Key Business Segments

• Automotive Structural Components – Body frames, chassis parts, and high-strength steel components used in passenger vehicles

• Metal Stamping & Tooling – Precision manufacturing technologies supporting large-scale automotive production

• Global OEM Supply – Long-term supply relationships with major Japanese and international automakers

Takeaway: With a 5.0% dividend yield, a conservative 35% payout ratio, and 15 consecutive years of dividend increases, G-Tekt stands out as an undervalued, income-oriented compounder. Dividend growth of 81% over the past five years highlights improving capital returns, while strong financial discipline supports sustainability even in cyclical auto markets.

Zoetis (ZTS)

Dividend Yield 1.64% | MaxRatio 10.41 | Financial Score 99

Zoetis is the world’s largest animal health company, supplying medicines, vaccines, diagnostics, and precision technologies for both pets and livestock. Founded in 1952 as part of Pfizer and headquartered in New Jersey, it operates in more than 60 countries and supports veterinarians, farmers, and pet owners globally.

Key Business Segments

• Companion Animal Health – Treatments, vaccines, dermatology solutions, and diagnostics for dogs, cats, and horses — the company’s fastest-growing segment driven by rising pet ownership.

• Livestock Health – Veterinary pharmaceuticals and vaccines for cattle, swine, poultry, and fish, helping producers maintain herd health and farm productivity.

• Diagnostics & Precision Animal Tech – Digital tools, diagnostic platforms, and monitoring solutions that improve clinical accuracy and long-term care.

• Biopharma R&D – A robust pipeline focused on parasiticides, dermatology, chronic conditions, and next-gen vaccines.

Takeaway: With more than a decade of uninterrupted dividend increases, high-margin products, and a dominant position in the global animal health market, Zoetis stands out as a long-term compounder.

✨ These six are my “front runners” for December. They’ve cleared every screen, proven themselves over time, and sit at the top of my focus list this month.

💬 Like, share, and repost to spread the dividend mindset!

Happy dividends for all the holders!

- Max & MaxDividends Team

MaxDividends Mission

Helping people build growing passive income, retire early, and live off dividends.

Someone’s sitting in the shade today because someone planted a tree a long time ago. ― Warren Buffett.

Refer a friend

*Disclaimer: This article reflects the author’s personal opinions and is intended for educational and entertainment purposes only. It does not constitute financial advice in any form. Always do your own research and consult a licensed financial advisor. The author may hold positions in some of the stocks mentioned, in line with the views expressed. This is a disclosure, not a recommendation to buy or sell any securities.

As a reader of MaxDividends, you agree to our disclaimer. You can read the full disclaimer here.

The MaxDividends Macro Report is your monthly deep dive into global dividend trends — packed with data, insights, and analysis from the most dividend-focused team and community in the world.

💬 Like, share, and repost to spread the dividend mindset!

Hey Dividend Investors!

Our latest MaxDividends Macro Report — November 2025 is here, and it’s loaded with sharp, data-driven insights to keep your income strategy moving upward.

Each week, we track thousands of dividend-paying companies across global markets — studying trends, running the numbers, and cutting through the noise so you don’t have to. Every chart, metric, and signal you see here comes from hours of careful analysis by the MaxDividends team.

And the mission behind all that work stays the same: helping you build a dividend income stream that’s reliable today and growing for years ahead.

We’re the most dividend-focused community on Earth — and you’re right in the heart of it.

The MaxDividends Macro Report

• Dividend Eagles: 3 Top-Performing Dividend Stocks of the Month

• Updated Dividend Eagles Top Stocks List

• The Most Notable Dividend Increases

• Dividend Macro Highlights:

  • Global Dividend Trends

  • US Dividend Trends

• ⭐ My Personal Stock Watchlist for November 2025

The new MaxDividends PDF Macro Report for November is a must-see for every dividend investor.

🎁 Bonus!

Inside, you’ll find 5 outstanding dividend stock ideas, fresh market trends, macro insights, and real-world plans to grow your income — all crafted by the MaxDividends team.

📊 View Full Report (PDF) 📊

We’re sharing it today with the entire community so everyone can see just how powerful these reports are — packed with value, guidance, and data worth far more than a couple cups of coffee. Trends, top lists, strategies, support, insights — and of course, the app that ties it all together.

Dividend Eagles Deliver ~$143B YTD

3 Top-Performing Dividend Eagles of November

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +12.96% PH Parker-Hannifin Corp

Engineering Power, Built for Decades

Parker-Hannifin is one of the world’s leading manufacturers of motion and control technologies — powering equipment across aerospace, industrial automation, climate systems, energy, and advanced manufacturing. Its components sit inside aircraft, factories, heavy machinery, and mission-critical systems that must work flawlessly.

Founded in 1917 and headquartered in Cleveland, Ohio, Parker has spent over a century engineering high-precision components and systems for the most demanding applications.

Its scale, technical depth, and diversified end markets help produce resilient cash flows even in economic downturns — a foundation that supports its long, uninterrupted dividend growth record.

🥈 +16.82% JBHT J.B. Hunt Transport Services

Moving America, Mile After Mile

J.B. Hunt is one of America’s largest logistics operators, orchestrating freight movement across trucks, rail, and intermodal platforms. The company’s deep integration with major retailers and its leadership in intermodal efficiency make it a key pulse-check for the U.S. economy.

Founded in 1961 and based in Arkansas, J.B. Hunt pioneered the truck-to-rail intermodal model, cutting shipping costs and emissions long before it became industry standard.

Its technology-driven operations, strong contracts, and national scale support steady cash generation — keeping dividends growing as the company continues modernizing America’s supply chain.

🥇 +17.91% EXPD Expeditors International of Washington

Global Trade, Delivered with Precision

Expeditors is a global logistics and freight-forwarding leader specializing in air, ocean, and customs brokerage services. The company coordinates complex international shipments for thousands of businesses, ensuring goods move smoothly across borders, regulations, and continents.

Founded in 1979 and headquartered in Seattle, Expeditors built its business on operational discipline, asset-light efficiency, and a culture of financial conservatism.

Its model shines during volatile markets: high margins, flexible cost structure, and deep customer relationships translate into reliable cash flows — supporting a long track record of dividend growth and shareholder returns.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

50+ consecutive years of dividend increases

Johnson & Johnson (JNJ) stands as one of the most reliable dividend stocks in the market, boasting 64 consecutive years of dividend increases—a rare achievement that earns it the prestigious title of a Dividend King.

The company has paid dividends without interruption since 1944 and has raised its payout every year since 1961, demonstrating unwavering commitment to shareholders even during economic downturns, litigation challenges, and industry disruptions.

As of 2025, JNJ offers a dividend yield of ~2.65%, well above the S&P 500 average, with a payout ratio of around 50%—indicating a sustainable balance between rewarding investors and reinvesting in growth.

Its pharmaceutical and medical technology segments generate steady cash flow, ensuring dividend reliability. Notably, J&J’s AAA credit rating (higher than the U.S. government) further underscores its financial strength to maintain and grow dividends.

If you want to dive deeper, the full list of all Dividend Eagles — with up-to-date analytics, financial scores, valuations, streaks, payout metrics, and every data point you need — is available in Premium inside the MaxDividends App for all partners right here:

👉 the full list of all Dividend Eagles

This is where you can explore every Eagle in detail, compare quality, screen for opportunities, and build a portfolio with true long-term horsepower.

And now, let’s get into the good part — a hand-picked set of dividend ideas worth your attention this month, selected for reliability, growth, and real income-producing strength. Let’s dive in.

The Most Notable Dividend Increases of the Month

Exxon Mobil (XOM) – Dividend Increase: +4.00%

40+ consecutive years of rising dividends

Exxon Mobil (NYSE: XOM) is one of the world’s largest integrated energy companies, spanning upstream oil & gas production, refining, petrochemicals, carbon solutions, and global trading. Its scale, capital discipline, and low-cost legacy assets make it one of the most durable cash generators in the energy sector — built to withstand commodity cycles and return cash through thick and thin.

For Q3 2025, Exxon posted revenue of $92.3 billion, with net income of $8.33 billion, supported by downstream strength, stable refining margins, and record chemical volumes. Free cash flow remained robust as capital spending stayed within long-term guidance and high-return Permian assets delivered another quarter of efficiency gains. Management reiterated its multi-year plan focused on disciplined capex, low-cost barrels, and expanding high-margin chemical and LNG segments.

Exxon raised its quarterly dividend from $0.99 to $1.03, marking a 4% increase and extending its 40+ (42) year dividend growth streak. The annualized dividend now stands at $4.12 per share, yielding around 3.4%, backed by a conservative payout ratio and decades of cycle-tested cash generation. Five-year dividend growth is modest but steady, and the company continues to pair dividend increases with aggressive buybacks fueled by strong free cash flow.

Visa (V) – Dividend Increase: +13.60%

15+ consecutive years of rising dividends

Visa (NYSE: V) operates the world’s largest electronic payments network, powering trillions of dollars in global commerce across consumers, merchants, banks, and fintech platforms. It remains a compounder built on scale, brand trust, security infrastructure, and the unstoppable ongoing shift from cash to digital payments.

For fiscal Q4 2025, Visa generated net revenue of $8.9 billion, up on double-digit cross-border volume strength, growing tap-to-pay adoption, and continued expansion in value-added services. Net income reached $4.7 billion as operating margins remained elite — among the highest in the S&P 500 — supported by disciplined cost management and high incremental profitability. Management reaffirmed expectations for solid revenue growth into 2026 driven by travel recovery, debit strength, and new payment flows.

Visa lifted its quarterly dividend from $0.59 to $0.67, a 13.6% increase, continuing its 16-year dividend growth streak. The annualized payout now stands at $2.68 per share (yield ~0.7%). With a payout ratio below 25% and consistent double-digit earnings growth, Visa has one of the strongest long-term dividend runways in the market — a classic “low yield, high growth” compounding machine.

McDonald’s (MCD) – Dividend Increase: +5.00%

49 consecutive years of rising dividends

McDonald’s (NYSE: MCD) is the world’s largest restaurant company, serving nearly 70 million customers per day across 100+ countries. Its franchise-heavy model delivers stable royalty-based cash flows, global brand strength, pricing power, and unmatched operating leverage — a defensive giant built for every economic backdrop.

For Q3 2025, global comparable sales rose 5.5%, driven by menu pricing, digital ordering growth, and continued expansion of delivery partnerships. Systemwide sales hit $31.2 billion as operating income climbed on strong restaurant-level profitability. Management highlighted ongoing momentum across the U.S. and international markets, supported by loyalty program adoption and new store development in high-growth regions.

McDonald’s increased its quarterly payout from $1.77 to $1.86, a 5% raise, extending its 49 year track record as one of the most reliable dividend growers in the S&P 500. The annual dividend now stands at $7.44 per share (yield ~2.3%). With a balanced payout ratio and predictable cash generation, McDonald’s remains a textbook Dividend King in the making — steady hikes, consistent earnings, and a fortress brand.

The Most Solid Recent Dividend Hikes

• Accenture (ACN) +10.14%

• City Holding (CHCO) +10.13%

• First United (FUNC) +18.18%

• Microsoft (MSFT) +9.64%

• Philip Morris International (PM) +8.89%

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

Global: Latest Dividend Data

The global cumulative dividend payout for Q3 2025 continued the upward trend seen in Q2 2020.

This indicates that most dividend-paying companies have weathered the impact of the 2020 crisis and successfully adapted their businesses to the new reality.

Global Total Quarterly Dividend Payments (US$ Billions)

Global dividend payments continued to show strong momentum through 2025. Companies paid out approximately $390 billion in dividends during the first quarter, followed by a significantly higher $570+ billion in the second quarter.

With Q3 now fully reported, total dividend payments reached $371.6 billion, including regular and special distributions. While lower than the exceptionally strong Q2 levels, the third quarter still reflects a solid global payout pace and underscores the resilience of corporate cash flows across major markets (Figure 1).

Global Dividend Breakdown — Q4 2025 Year-to-Date

These charts show how global dividend payments have been distributed across sectors and industries through the latest data for 2025.

Financial Services remain firmly in the lead, accounting for 26.23% of all global dividend payouts. Industrials contribute 10.83%, while Consumer Defensive (9.73%), Technology (9.54%), and Healthcare (9.31%) each play similarly sized roles in the global income landscape. The broad 34.35% “Other” category underscores the growing diversification of dividend-paying companies worldwide.

At the industry level, banks continue to dominate, with diversified and regional banks combining for 15.63% of total global payouts. Drug manufacturers (6.49%), integrated oil & gas (4.30%), and diversified insurance (2.45%) also remain meaningful contributors.

Meanwhile, the large 71.12% “Other” segment reflects the wide range of industries now participating in global dividend generation.

U.S. Dividend Landscape

The chart illustrates total dividend payments by U.S. companies in 2025, broken down by quarter.

Q1 and Q2 maintained strong momentum, with payouts in the $230–240 billion range — reflecting healthy profits and continued commitment to shareholder returns.

For Q3 2025, total dividends reached $223.9 billion, including $217.0 billion in regular dividends and $6.9 billion in special dividends.

Regular payouts continue to make up the vast majority of distributions, while special dividends add a modest boost — together confirming that U.S. companies remain financially strong and shareholder-oriented heading into year-end.

U.S. Dividend Breakdown — Q4 2025 Year-to-Date

These charts show how dividend payments in the U.S. market are distributed across sectors and industries as 2025 approaches its final stretch.

Financial Services remain the dominant dividend-paying sector, contributing 25.23% of all U.S. payouts. Technology follows with 14.26%, while Healthcare (12.24%), Consumer Defensive (10.57%), and Energy (9.68%) form a balanced group of steady contributors. The 28.03% “Other” category continues to signal a broadening dividend base across the market.

At the industry level, diversified banks lead with 11.85% of total payouts. Drug manufacturers add 8.95%, while regional banks contribute another 5.00%. Integrated oil & gas (4.58%) and semiconductors (4.07%) round out the next tier. The large 65.55% “Other” share highlights the wide variety of industries now playing meaningful roles in the U.S. dividend landscape.

Cumulative dividends paid by US companies in 2025

Dividends paid by U.S. companies in 2025 continue to grow steadily as the year progresses.

Cumulative payouts reached roughly $235B by Q1, climbed to around $470B by Q2, and moved past $680B in Q3. As of the latest Q4 data — with the quarter still underway — cumulative dividends have already exceeded $820B, pointing to another strong finish for the year.

Regular dividends remain the dominant driver of total payouts, while special dividends contribute only a small share, underscoring the reliability and consistency of U.S. corporate cash distributions.

Cumulative dividends paid by US Dividend Eagles in 2025

Dividend Eagles — companies with 15+ years of consecutive dividend growth — have now paid out more than $120B in dividends year-to-date 2025.

Payouts continued to rise quarter after quarter: roughly $35B by Q1, nearly $75B by Q2, and just over $110B by Q3. With Q4 still underway, total dividends have already surpassed $120B, reflecting another strong year of steady, reliable cash returns from America’s most consistent dividend growers.

Proof That Dividend Eagles Deliver, Year After Year

Over the past decade, US Dividend Eagles — companies with 15+ years of consecutive dividend increases — have nearly doubled their annual payouts, climbing from around $75B in 2016 to more than $140B in 2024. That’s pure cash returned to shareholders, without even counting the effect of reinvestment.

📊 This chart makes the MaxDividends concept crystal clear: when you own businesses that never stop paying and keep raising the bar every single year, your income stream snowballs in front of your eyes. These are not flashy promises — they are the most reliable wealth-building machines in the market.

Average Dividend Yield of Dividend Eagles, Q4 2025

In 2025, the average dividend yield of Dividend Eagles moved through a modest midyear cycle before stabilizing into year-end. Yields started near 2.10% in Q1, peaked around 2.30% in Q2, and then dipped to just above 2.08% in Q3.

By Q4, the average yield recovered to 2.12%, landing slightly below the long-term average of 2.15%. This mild rebound suggests steady income conditions and a broadly stable valuation backdrop for America’s most reliable dividend growers.

🥇 Top 5 Dividend Eagles by Total Payouts (2025 YTD)

These are the heavyweights — the Dividend Eagles returning the most cash to shareholders right now:

1. Microsoft (MSFT) — 💵 $25.38B in dividends

2. Johnson & Johnson (JNJ) — 💵 $12.37B

3. Procter & Gamble (PG) — 💵 $10.25B

4. Home Depot (HD) — 💵 $9.02B

5. Coca-Cola (KO) — 💵 $8.81B

📊 Together, just these five companies alone have distributed over $55 billion in dividends so far — a powerful reminder of what it means to own reliable, world-class businesses that never stop paying.

And that’s exactly what the Dividend Eagles List is all about. 🦅 It’s our curated lineup of 100+ U.S. companies that have raised dividends for 15+ consecutive years — the strongest, most consistent payers in the market. These aren’t just stocks; they’re proven wealth-building machines built on financial stability, resilience, and decades of shareholder commitment.

👉 The full, always-updated Dividend Eagles List is available inside the MaxDividends App — exclusive to our community.

U.S. Dividend Landscape - (S&P 500)

S&P 500 Dividend Yield — Historical Perspective

The S&P 500 dividend yield has drifted even lower, now sitting at 1.16% — one of the lowest levels in more than a century of market history. Stock prices remain high relative to the dividends companies pay, keeping yield levels deeply compressed.

When viewed against nearly 150 years of data, today’s yield stands far below the long-term historical norm of 3–5%.

S&P 500 Historical Dividend Trends

Inflation-adjusted dividends for the S&P 500 continue to show a steady long-term upward trajectory. Even with periodic economic shocks and market volatility, the underlying growth trend in real dividends has remained intact for more than a century.

The previous inflation-adjusted peak came in May 2020, when dividends reached 73.09. Today, that figure stands at 78.48, setting a new all-time high and highlighting the ongoing strength of corporate cash flows within the index.

S&P 500 Dividend Growth

The S&P 500 dividend growth trend continues to demonstrate long-term resilience. Over the past 32 years, negative dividend growth has appeared only during major crisis periods — confirming how rarely large U.S. companies reduce their payouts.

The latest reading shows dividend growth at 6.92%, reflecting a steady pace of expansion and solid earnings support across the index.

Despite market volatility and shifting economic conditions, the broader pattern remains firmly positive.

Inflation’s Impact on Dividends

Inflation has continued to move in a narrow range through 2025, shaping how real (inflation-adjusted) S&P 500 dividends appear on the long-term chart. After cooling sharply from the 2022 peak, inflation remained subdued in early 2025 — dipping to 2.3% in March — which provided a more supportive backdrop for real dividend growth.

Through mid-2025, inflation hovered between 2.4% and 2.7%, before rising again toward 2.9% in late summer and touching 3.0% in September.

This mild reacceleration limits the pace at which inflation-adjusted S&P 500 dividends can expand, keeping real dividend growth steady but far from the powerful upswing seen right after the 2022 inflation peak.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

📊 View Full Report (PDF) 📊

🎁 One More Bonus!

My Personal Stock Watchlist — November 2025

A hand-picked list of the dividend stocks I’m actively tracking this month.

Each month I hand-pick a focused shortlist of dividend stocks worth watching. No guesswork, no hype — I screen thousands of companies and keep only the ones with strong balance sheets, reliable dividend growth, and long-term wealth-building potential.

This watchlist is where I’m putting my energy — a mix of high-yield opportunities and growth names with the power to multiply income streams over time. If you’re serious about building a future where dividends cover your lifestyle, this is where to start.

🎯 My 6 Standout Candidates for November

Novo Nordisk (NVO)

Dividend Yield 3.75% | MaxRatio 26.23 | Financial Score 97

Novo Nordisk is a global healthcare leader best known for its diabetes and obesity treatments. Founded in 1923 and headquartered in Denmark, the company operates in more than 170 countries, with products serving millions of patients worldwide.

Key Business Segments

• Diabetes & Obesity Care – Insulin, GLP-1 therapies, and innovative treatments for diabetes and weight management.

• Rare Disease Treatments – Specialty medicines targeting hemophilia, growth disorders, and other rare conditions.

• Biopharma & R&D – Heavy investment in next-generation biologics and clinical trials for chronic diseases.

Takeaway: With 29 straight years of dividend increases and 173% dividend growth in the last five years, Novo Nordisk is one of the most reliable healthcare dividend growth engines in the world.

Shoe Carnival (SCVL)

Dividend Yield 3.46% | MaxRatio 31.72 | Financial Score 98

Shoe Carnival Inc. is a U.S. footwear retailer offering affordable brand-name shoes for the entire family. Founded in 1978 and headquartered in Evansville, Indiana, it runs 400+ stores across the U.S. and Puerto Rico, blending value pricing with an upbeat in-store experience.

Key Business Segments

• Retail Stores – Wide selection of athletic, casual, and dress footwear for men, women, and children.

• E-Commerce – Online sales with buy-online, pick-up in-store convenience.

• Private Label Brands – Exclusive offerings that boost margins and differentiate the product mix.

• Loyalty Program (Shoe Perks) – Personalized promotions and repeat-customer rewards.

Takeaway: With 218% dividend growth in just five years and a conservative payout ratio under 20%, Shoe Carnival has emerged as a true dividend growth underdog.

Bank OZK (OZK)

Dividend Yield 4.08% | MaxRatio 11.08 | Financial Score 92

Bank OZK is a regional bank headquartered in Little Rock, Arkansas. Founded in 1903, it operates across the Southern U.S., offering retail and commercial banking services with a focus on conservative lending.

Key Business Segments

• Community Banking – Personal checking, savings, and lending services across multiple states.

• Commercial Real Estate Lending – Nationally recognized lender in real estate development finance.

• Treasury & Wealth Management – Services tailored to both individuals and businesses.

Takeaway: With 25 consecutive years of dividend increases and a payout ratio under 30%, Bank OZK is a steady regional bank with dependable dividend growth.

goeasy Ltd (GSY) | Canada

Dividend Yield 4.75% | MaxRatio 55.79 | Financial Score 98

goeasy Ltd. is a Canadian financial services company providing non-prime lending and lease-to-own products. Founded in 1990 and headquartered in Mississauga, Ontario, it serves customers often overlooked by traditional banks.

Key Business Segments

• easyfinancial – Non-prime consumer lending and installment loans across Canada.

• easyhome – Lease-to-own business for household goods and furniture.

• Credit & Insurance Services – Expanding portfolio of credit protection and related products.

Takeaway: With 277% dividend growth in the last five years and 21 straight years of raises, goeasy is one of the most aggressive dividend growth stories in North America.

FedEx (FDX)

Dividend Yield 2.17% | MaxRatio 10.91 | Financial Score 97

FedEx Corporation is a global leader in logistics, e-commerce, and business services. Founded in 1971 and headquartered in Memphis, Tennessee, it operates in over 220 countries and territories with one of the world’s largest express delivery networks.

Key Business Segments

• FedEx Express – Time-definite international and domestic shipping.

• FedEx Ground – Cost-effective package delivery across the U.S. and Canada.

• FedEx Freight – Less-than-truckload freight services nationwide.

• FedEx Logistics – Supply chain solutions including brokerage and warehousing.

Takeaway: With over 100% dividend growth in the last five years and a growing role in global trade, FedEx is turning into a surprisingly strong dividend growth stock.

Zoetis (ZTS)

Dividend Yield 1.66% | MaxRatio 10.22 | Financial Score 99

Zoetis is the world’s largest animal health company, supplying medicines, vaccines, diagnostics, and precision technologies for both pets and livestock. Founded in 1952 as part of Pfizer and headquartered in New Jersey, it operates in more than 60 countries and supports veterinarians, farmers, and pet owners globally.

Key Business Segments

• Companion Animal Health – Treatments, vaccines, dermatology solutions, and diagnostics for dogs, cats, and horses — the company’s fastest-growing segment driven by rising pet ownership.

• Livestock Health – Veterinary pharmaceuticals and vaccines for cattle, swine, poultry, and fish, helping producers maintain herd health and farm productivity.

• Diagnostics & Precision Animal Tech – Digital tools, diagnostic platforms, and monitoring solutions that improve clinical accuracy and long-term care.

• Biopharma R&D – A robust pipeline focused on parasiticides, dermatology, chronic conditions, and next-gen vaccines.

Takeaway: With more than a decade of uninterrupted dividend increases, high-margin products, and a dominant position in the global animal health market, Zoetis stands out as a long-term compounder.

✨ These six are my “front runners” for November. They’ve cleared every screen, proven themselves over time, and sit at the top of my focus list this month.

💬 Like, share, and repost to spread the dividend mindset!

Happy dividends for all the holders!

- Max & MaxDividends Team

MaxDividends Mission

Helping people build growing passive income, retire early, and live off dividends.

Someone’s sitting in the shade today because someone planted a tree a long time ago. ― Warren Buffett.

Refer a friend

*Disclaimer: This article reflects the author’s personal opinions and is intended for educational and entertainment purposes only. It does not constitute financial advice in any form. Always do your own research and consult a licensed financial advisor. The author may hold positions in some of the stocks mentioned, in line with the views expressed. This is a disclosure, not a recommendation to buy or sell any securities.

As a reader of MaxDividends, you agree to our disclaimer. You can read the full disclaimer here.

The MaxDividends Macro Report is your monthly deep dive into global dividend trends — packed with data, insights, and analysis from the most dividend-focused team and community in the world.

💬 Like, share, and repost to spread the dividend mindset!

Hey Dividend Investors!

Our latest MaxDividends Macro Report for October 2025 is here — packed with fresh insights to keep your income stream climbing.

Every week, we track thousands of dividend-paying companies worldwide — analyzing trends, crunching data, and filtering the noise so you don’t have to. Every chart and table you see here reflects hours of careful work by the MaxDividends team.

And the best part? All that research is distilled into one clear mission: helping you build reliable, growing dividend income for years to come.

We’re the most dividend-focused community on Earth — and you’re right in the heart of it.

The MaxDividends Macro Report

• Dividend Eagles: 3 Top-Performing Dividend Stocks of the Month

• Updated Dividend Eagles Top Stocks List

• The Most Notable Dividend Increases

• Dividend Macro Highlights:

  • Global Dividend Trends

  • US Dividend Trends

• ⭐ My Personal Stock Watchlist for October 2025

The new MaxDividends PDF Macro Report for October is a must-see for every dividend investor.

🎁 Bonus!

Inside, you’ll find 5 outstanding dividend stock ideas, fresh market trends, macro insights, and real-world plans to grow your income — all crafted by the MaxDividends team.

📊 View Full Report (PDF) 📊

We’re sharing it today with the entire community so everyone can see just how powerful these reports are — packed with value, guidance, and data worth far more than a couple cups of coffee. Trends, top lists, strategies, support, insights — and of course, the app that ties it all together.

Dividend Eagles Deliver ~$116B YTD

3 Top-Performing Dividend Eagles of October

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +11.94% AVY Avery Dennison Corp

Labeling the World, Rewarding Long-Term Holders

Avery Dennison is the quiet giant behind billions of labels, tags, and materials that keep global commerce organized. From retail tags and logistics barcodes to pressure-sensitive packaging, the company’s products touch nearly every supply chain in the world.

Founded in 1935, Avery built its business on adhesives and evolved into a technology-driven materials leader serving retail, healthcare, logistics, and industrial markets. Its global scale, product diversity, and focus on sustainability give it a durable competitive edge.

Even though it operates in a cyclical materials industry, its pricing power, innovation pipeline, and strong customer relationships keep cash flows resilient — a model of quiet consistency.

🥈 +14.44% WST West Pharmaceutical Services

Delivering Precision, Preserving Health

West Pharmaceutical Services plays a critical yet often invisible role in global healthcare. The company designs and manufactures sophisticated containment and delivery systems for injectable drugs and vaccines — from rubber stoppers to complex auto-injector components used by major pharma and biotech firms.

Founded in 1923 and headquartered in Pennsylvania, West has spent a century perfecting the science of precision manufacturing. Its solutions support vaccine stability, drug purity, and patient safety, making it indispensable to the life sciences supply chain.

🥇 +24.26% JBHT J.B. Hunt Transport Services Inc

Hauling America’s Future, One Dividend at a Time

J.B. Hunt is one of the largest transportation and logistics companies in the U.S., orchestrating the movement of goods across rail, truck, and intermodal systems. Its scale, technology integration, and deep relationships with major retailers make it a bellwether for the U.S. economy.

Founded in 1961 and headquartered in Arkansas, J.B. Hunt pioneered the intermodal model — combining trucking with rail for cost efficiency and lower emissions. Today, it continues to invest in digital platforms and automation to optimize fleet utilization and service reliability.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

50+ consecutive years of dividend increases

Illinois Tool Works Inc. (NYSE: ITW) demonstrates a consistent and reliable dividend policy, which underscores its financial stability and commitment to returning value to shareholders. Recently, the company’s Board of Directors announced a 7% increase in the quarterly dividend — to $1.61 per share, equivalent to an annual dividend of $6.44 per share. This step continues the company’s long-standing tradition of increasing payouts:

ITW has been raising dividends for 51 consecutive years, and its dividend yield is approximately 2.47%. Dividends are paid quarterly, with the nearest ex-dividend date on September 30, 2025, and the payment date on October 10, 2025. The payout ratio is at a level of about 51.65–53.58%, indicating a balanced approach between distributing profits to shareholders and reinvesting in business growth.

The average annual dividend growth rate in recent years has been about 7%, reflecting the company’s ability to generate stable cash flow and earnings. Such consistent dividend growth makes ITW an attractive asset for income investors focused on long-term and reliable payments.

The Most Notable Dividend Increases of the Month

OZK Bank (OZK) - Dividend Increase: +2.30%

25+ consistent years of dividends

Bank OZK (NASDAQ: OZK) is a high‑return regional bank with a national footprint in commercial real estate lending through its Real Estate Specialties Group, alongside community banking, business banking, and treasury services across nine states — a not flashy but steady lender with disciplined underwriting and deposit‑gathering that travels well through cycles.

For Q2 2025, total revenue printed at $392.8 million, up 6.8% year over year, while net income available to common stockholders hit a record $178.9 million, up 3.1% YoY; diluted EPS was $1.58 as net interest income set a quarterly record and loan and deposit growth stayed solid — a margin play with credit costs contained and asset quality steady. Management also raised loan growth expectations on the back of healthy production pipelines, reinforcing operating momentum into the second half.

Dividend yield is 3.41% on an annual dividend of $1.76, backed by a 25‑year dividend increase track record — not flashy but steady cash returns. The bank has already raised the dividend twice in 2025, including an October move to $0.45 per share (61st consecutive quarterly increase), reflecting robust earnings power and conservative payout discipline. Five‑year dividend growth is +68.00%, and the dividend payout ratio is 28.57%, leaving ample room for organic growth, credit reserves, and buybacks without stressing capital — a solid setup as the rate and credit cycle evolves.

Lam Research Corp (LRCX) - Dividend Increase: +13.00%

10+ consecutive years of dividends.

Lam Research (NASDAQ: LRCX) builds core semiconductor fabrication tools — particularly etch, deposition, and cleaning equipment — that support advanced logic, memory, and packaging nodes. Its systems are critical in fabs worldwide, especially in Asia, the U.S., and Europe.

In the quarter ended June 29, 2025, the company reported revenue of $5,171 million, with U.S. GAAP net income of $1,720 million (EPS $1.35). Gross margin was 50.1%, and operating income margin reached 33.7%.

The company pays an annual dividend of $1.04, yielding 0.81%. Dividend Increase Track Record is 10 years, 5-Year Dividend Growth is +91.00%, and Dividend Payout Ratio is 25.00%.

RPM International (RPM) - Dividend Increase: +5.90%

50+ consecutive years of dividends.

A true Dividend King. The coatings and sealants leader keeps rewarding shareholders with reliable. growing payouts — half a century and counting.

RPM International (NYSE: RPM) makes specialty coatings, sealants, roofing systems, and building materials sold into industrial, specialty, and consumer end‑markets across North America and globally — a not flashy but steady play on maintenance, repair, and high‑performance building upgrades.​

For fiscal Q1 2026 (quarter ended Aug. 31, 2025), sales were $2.11 billion, up 7.4% year over year, with net income of $227.6 million as adjusted EBIT reached $337.8 million — solid operating momentum and a clean margin play on mix and cost actions. Prior quarter results showed net sales of $2.081975 billion and net income of $225.758 million, underscoring steady execution into the fiscal year transition.​

The company pays an annual dividend of $2.16, yielding 1.90%. RPM has increased its dividend for 51 years, with 5‑year dividend growth of +34.00% and a dividend payout ratio of 40.37% — balanced returns with room to fund growth and bolt‑on deals.

The Most Solid Recent Dividend Hikes

• Cboe Global Markets (CBOE) +14.29%

• Chemed (CHE) +20.00%

• Dilard’s (DDS) +20.00%

• Intuit (INTU) +15.38%

• Lam Research (LRCX) +13.04%

• ResMed (RMD) +13.21%

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

Global: Latest Dividend Data

The global cumulative dividend payout for Q3 2025 continued the upward trend seen in Q2 2020.

This indicates that most dividend-paying companies have weathered the impact of the 2020 crisis and successfully adapted their businesses to the new reality.

Global Total Quarterly Dividend Payments (US$ Billions)

Companies paid out $640.5 billion in dividends in the second quarter of 2025. As of now, companies have already paid out $355.1 billion in the third quarter. This figure is expected to increase by the end of the quarter (Figure 1)

Global Dividend Breakdown — Q3 2025 Year-to-Date

The charts show the distribution of global dividend payments across sectors and industries for the first three quarters of 2025.

Financial Services lead the pack, accounting for nearly 25% of total payouts, followed by Industrials (11%), Technology (9.7%), Healthcare (9.6%), and Consumer Defensive (9.6%) sectors.

At the industry level, banks remain dominant — both diversified and regional lenders together contribute more than 13% of all dividends worldwide. Pharmaceuticals, integrated oil & gas, and insurance also play meaningful roles, while a broad “Other” category reflects the growing diversity of dividend-paying businesses across the global market.

U.S. Dividend Landscape

The chart illustrates total dividend payments by U.S. companies in 2025, broken down by quarter.

Q1 and Q2 maintained strong momentum, with payouts in the $230–240 billion range — reflecting healthy profits and continued commitment to shareholder returns.

For Q3 2025, total dividends reached $223.9 billion, including $217.0 billion in regular dividends and $6.9 billion in special dividends.

Regular payouts continue to make up the vast majority of distributions, while special dividends add a modest boost — together confirming that U.S. companies remain financially strong and shareholder-oriented heading into year-end.

U.S. Dividend Breakdown — Q3 2025 Year-to-Date

The charts highlight how dividend payments in the U.S. market were distributed across sectors and industries during the first three quarters of 2025.

Financial Services remain the top-paying sector, contributing about 19.5% of total dividends, followed by Technology (16.5%), Healthcare (14.6%), Consumer Defensive (10.5%), and Energy (10.3%).

At the industry level, Drug Manufacturers lead with over 10% of total payouts, while banks — both diversified and regional — together add more than 11%. Oil & Gas and Semiconductors also hold strong positions, underscoring the balanced mix of traditional income sectors and modern growth industries driving America’s dividend landscape.

Cumulative dividends paid by US companies in 2025

Dividends paid by U.S. companies in 2025 continue to grow steadily as the year progresses.

Cumulative payouts reached roughly $235B by Q1, $470B by Q2, and have now climbed to more than $680B by Q3. Regular dividends represent the overwhelming majority of these payments, while special dividends contribute only a small share.

Cumulative dividends paid by US Dividend Eagles in 2025

Dividend Eagles — companies with 15+ years of consecutive dividend growth — have now paid out more than $110B in dividends year-to-date 2025.

Payouts continue to rise steadily: about $35B by Q1, nearly $75B by Q2, and just over $110B by Q3. This sustained growth highlights the resilience and reliability of America’s most consistent dividend payers.

Proof That Dividend Eagles Deliver, Year After Year

Over the past decade, US Dividend Eagles — companies with 15+ years of consecutive dividend increases — have nearly doubled their annual payouts, climbing from around $75B in 2016 to more than $139B in 2024. That’s pure cash returned to shareholders, without even counting the effect of reinvestment.

📊 This chart makes the MaxDividends concept crystal clear: when you own businesses that never stop paying and keep raising the bar every single year, your income stream snowballs in front of your eyes. These are not flashy promises — they are the most reliable wealth-building machines in the market.

Average Dividend Yield of Dividend Eagles, Q4 2025

In 2025, the average dividend yield of Dividend Eagles has trended upward after a midyear dip. Yields started near 2.1% in Q1, eased slightly in Q3, and then surged to 2.56% in Q4, moving well above the long-term average of 2.23%. This late-year rebound highlights the strength and renewed value appeal of Dividend Eagles as dependable income generators.

🥇 Top 5 Dividend Eagles by Total Payouts (2025 YTD)

These are the heavyweights — the Dividend Eagles returning the most cash to shareholders right now:

1. Microsoft (MSFT) — 💵 $25.38B in dividends

2. Johnson & Johnson (JNJ) — 💵 $12.37B

3. Procter & Gamble (PG) — 💵 $10.25B

4. Home Depot (HD) — 💵 $9.10B

5. Coca-Cola (KO) — 💵 $8.81B

📊 Together, just these five companies alone have distributed over $55 billion in dividends so far — a powerful reminder of what it means to own reliable, world-class businesses that never stop paying.

And that’s exactly what the Dividend Eagles List is all about. 🦅 It’s our curated lineup of 100+ U.S. companies that have raised dividends for 15+ consecutive years — the strongest, most consistent payers in the market. These aren’t just stocks; they’re proven wealth-building machines built on financial stability, resilience, and decades of shareholder commitment.

👉 The full, always-updated Dividend Eagles List is available inside the MaxDividends App — exclusive to our community.

U.S. Dividend Landscape - (S&P 500)

The S&P 500 dividend yield has been cut in half over the past decade. It now stands at 1.18%, which means stock prices relative to dividends are higher than usual. As a result, the dividend yield is at record lows.

S&P 500 Historical Dividend Trends

Historical dividends from stocks that are part of the S&P 500 Index are shown in Figure 5. The data is adjusted for inflation. With the current inflation rate (Figure 4), there is a gradual acceleration in the growth of dividends on the S&P 500 Index.

The previous peak was in May 2020, when the dividend was 73.09. Currently, this figure stands at 78.48.

S&P 500 Dividend Growth

The S&P 500 dividend growth is shown in Figure 6. Over the past 32 years, the chart has been negative only three times, and all of those periods were linked to crises.

Over the past month, dividend growth has outpaced inflation, reaching 7.46%. The upward trend has continued over the past 12 months.

Inflation’s Impact on Dividends

Inflation has been rising faster than dividends have been increasing, leading to a correction in the S&P 500 dividend chart. Since mid-2022, inflation has been gradually declining, allowing the S&P 500 dividend chart to reflect growth. Since mid-2023, the pace of inflation’s decline has slowed significantly.

However, the ongoing downward trend in inflation continues to positively impact the growth of the S&P 500 dividend chart.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

📊 View Full Report (PDF) 📊

🎁 One More Bonus!

My Personal Stock Watchlist — October 2025

A hand-picked list of the dividend stocks I’m actively tracking this month.

Each month I hand-pick a focused shortlist of dividend stocks worth watching. No guesswork, no hype — I screen thousands of companies and keep only the ones with strong balance sheets, reliable dividend growth, and long-term wealth-building potential.

This watchlist is where I’m putting my energy — a mix of high-yield opportunities and growth names with the power to multiply income streams over time. If you’re serious about building a future where dividends cover your lifestyle, this is where to start.

🎯 My 6 Standout Candidates for October

Novo Nordisk (NVO)

Dividend Yield 3.08% | MaxRatio 17.36 | Financial Score 97

Novo Nordisk is a global healthcare leader best known for its diabetes and obesity treatments. Founded in 1923 and headquartered in Denmark, the company operates in more than 170 countries, with products serving millions of patients worldwide.

Key Business Segments

• Diabetes & Obesity Care – Insulin, GLP-1 therapies, and innovative treatments for diabetes and weight management.

• Rare Disease Treatments – Specialty medicines targeting hemophilia, growth disorders, and other rare conditions.

• Biopharma & R&D – Heavy investment in next-generation biologics and clinical trials for chronic diseases.

Takeaway: With 29 straight years of dividend increases and 173% dividend growth in the last five years, Novo Nordisk is one of the most reliable healthcare dividend growth engines in the world.

Shoe Carnival (SCVL)

Dividend Yield 2.70% | MaxRatio 16.66 | Financial Score 98

Shoe Carnival Inc. is a U.S. footwear retailer offering affordable brand-name shoes for the entire family. Founded in 1978 and headquartered in Evansville, Indiana, it runs 400+ stores across the U.S. and Puerto Rico, blending value pricing with an upbeat in-store experience.

Key Business Segments

• Retail Stores – Wide selection of athletic, casual, and dress footwear for men, women, and children.

• E-Commerce – Online sales with buy-online, pick-up in-store convenience.

• Private Label Brands – Exclusive offerings that boost margins and differentiate the product mix.

• Loyalty Program (Shoe Perks) – Personalized promotions and repeat-customer rewards.

Takeaway: With 218% dividend growth in just five years and a conservative payout ratio under 20%, Shoe Carnival has emerged as a true dividend growth underdog.

Bank OZK (OZK)

Dividend Yield 3.44% | MaxRatio 9.39 | Financial Score 92

Bank OZK is a regional bank headquartered in Little Rock, Arkansas. Founded in 1903, it operates across the Southern U.S., offering retail and commercial banking services with a focus on conservative lending.

Key Business Segments

• Community Banking – Personal checking, savings, and lending services across multiple states.

• Commercial Real Estate Lending – Nationally recognized lender in real estate development finance.

• Treasury & Wealth Management – Services tailored to both individuals and businesses.

Takeaway: With 25 consecutive years of dividend increases and a payout ratio under 30%, Bank OZK is a steady regional bank with dependable dividend growth.

goeasy Ltd (GSY) | Canada

Dividend Yield 3.54% | MaxRatio 40.68 | Financial Score 98

goeasy Ltd. is a Canadian financial services company providing non-prime lending and lease-to-own products. Founded in 1990 and headquartered in Mississauga, Ontario, it serves customers often overlooked by traditional banks.

Key Business Segments

• easyfinancial – Non-prime consumer lending and installment loans across Canada.

• easyhome – Lease-to-own business for household goods and furniture.

• Credit & Insurance Services – Expanding portfolio of credit protection and related products.

Takeaway: With 277% dividend growth in the last five years and 21 straight years of raises, goeasy is one of the most aggressive dividend growth stories in North America.

FedEx (FDX)

Dividend Yield 2.37% | MaxRatio 12.05 | Financial Score 97

FedEx Corporation is a global leader in logistics, e-commerce, and business services. Founded in 1971 and headquartered in Memphis, Tennessee, it operates in over 220 countries and territories with one of the world’s largest express delivery networks.

Key Business Segments

• FedEx Express – Time-definite international and domestic shipping.

• FedEx Ground – Cost-effective package delivery across the U.S. and Canada.

• FedEx Freight – Less-than-truckload freight services nationwide.

• FedEx Logistics – Supply chain solutions including brokerage and warehousing.

Takeaway: With over 100% dividend growth in the last five years and a growing role in global trade, FedEx is turning into a surprisingly strong dividend growth stock.

Enghouse Systems (ENGH) | Canada

Dividend Yield 5.68% | MaxRatio 29.71 | Financial Score 99

Enghouse Systems Ltd. is a Canadian software and IT services company. Founded in 1984 and headquartered in Markham, Ontario, it develops enterprise software solutions for telecom, customer experience, and IT infrastructure worldwide.

Key Business Segments

• Interactive Management Group – Contact center software, video collaboration, and customer engagement solutions.

• Asset Management Group – Network software, operations support, and IT infrastructure tools.

• Acquisitions – Growth strategy built around acquiring and integrating complementary software firms.

Takeaway: With a 5.7% yield, 138% dividend growth over five years, and 15 straight years of raises, Enghouse combines growth, scale, and income in one of the strongest packages among Canadian dividend stocks.

✨ These six are my “front runners” for October. They’ve cleared every screen, proven themselves over time, and sit at the top of my focus list this month.

💬 Like, share, and repost to spread the dividend mindset! Happy dividends for all the holders!

- Max & MaxDividends Team

MaxDividends Mission

Helping people build growing passive income, retire early, and live off dividends.

Someone’s sitting in the shade today because someone planted a tree a long time ago. ― Warren Buffett.

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*Disclaimer: This article reflects the author’s personal opinions and is intended for educational and entertainment purposes only. It does not constitute financial advice in any form. Always do your own research and consult a licensed financial advisor. The author may hold positions in some of the stocks mentioned, in line with the views expressed. This is a disclosure, not a recommendation to buy or sell any securities.

As a reader of MaxDividends, you agree to our disclaimer. You can read the full disclaimer here.

The MaxDividends Macro Report is your monthly deep dive into global dividend trends — packed with data, insights, and analysis from the most dividend-focused team and community in the world.

💬 Like, share, and repost to spread the dividend mindset!

Hey Dividend Investors!

Our latest MaxDividends Macro Report for September 2025 is here — packed with insights designed to keep your income stream rising.

We track thousands of dividend stocks across the globe, crunching an ocean of data every single week. Every chart, every table you see here represents countless hours of analysis and careful review by the MaxDividends team.

And the best part — all of this work is distilled and delivered exclusively to you. Clear, actionable, and focused on what matters most: building lasting, growing dividend income for your future.

We’re the most dividend-focused community on Earth — and you’re right in the center of it.

The MaxDividends Macro Report: Dividend Eagles Deliver $105B YTD

• Dividend Eagles: 3 Top-Performing Dividend Stocks of the Month

• Updated Dividend Eagles Top Stocks List

• The Most Notable Dividend Increases

• Dividend Macro Highlights:

  • Global Dividend Trends

  • US Dividend Trends

• ⭐ My Personal Stock Watchlist for September 2025

📊 View Full Report (PDF) 📊

Dividend Eagles: 3 Top-Performing Dividend Stocks of September

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +5.63% GRC The Gorman Group

Pumping the World’s Flow, Sustaining Dividends

The Gorman-Rupp Company isn’t a name most people recognize, but its products are critical to everyday life. The company designs and manufactures pumps and pumping systems used in water, wastewater, flood control, agriculture, industry, and municipal infrastructure. From moving clean drinking water to powering fire protection systems and storm drainage, Gorman-Rupp is a behind-the-scenes enabler of essential services.

Founded in 1933, the business has built its reputation on reliability, engineering quality, and serving mission-critical markets. Its wide product range — from small utility pumps to massive flood-control units — gives it a steady role in global infrastructure and industrial applications.

The company has increased its dividend for more than 50 consecutive years, earning the rare title of Dividend King. The yield is modest, typically around the 1.5–2% range, but the consistency and safety behind it matter more. With a conservative payout ratio and strong cash generation, GRC has plenty of room to keep rewarding shareholders.

While the business is somewhat cyclical — tied to infrastructure budgets and industrial spending — the long-term demand for water systems, municipal utilities, and replacement equipment provides a reliable tailwind.

🥈 +6.71% PRI Primerica Inc

Financial Empowerment for Main Street, Growing Payouts

Primerica isn’t a household name in every home—but the company is deeply involved in financial services for middle-income families. It acts as a distributor of term life insurance, mutual funds, annuities, auto/home insurance, debt management, and related products through a network of licensed representatives. Its mission: to help everyday households gain financial stability through education and affordable protection.

Founded in the late 1970s (as A.L. Williams) and later rebranded as Primerica, the company evolved into a hybrid model combining insurance sales with financial advice. Over time it has expanded into investments, credit solutions, and insurance distribution in both the U.S. and Canada. The use of a multi-level marketing (MLM) structure means that a significant part of its growth depends on recruiting agents along with selling products.

The current annual dividend is about $4.16 per share, yielding roughly 1.4–1.6 %. Its payout ratio is low — under 20 % — suggesting the company retains ample earnings for reinvestment or growth. Over the past decade, the dividend has been increased consecutively (13+ years of raises), signaling a commitment to rewarding shareholders.

🥇 +8.14% KLAC KLA Corporation

Inspecting Chips, Rewarding Investors

KLA Corporation sits at the heart of the semiconductor supply chain—not as a chipmaker, but as a crucial enabler. The company designs, produces, and supports process control, metrology, inspection, and yield-management systems used by semiconductor fabs throughout the the world. In effect, KLA ensures that chips are manufactured with precision, low defect rates, and consistency. Its tools and software help fabs catch flaws early, measure tiny features, and push throughput.

Formed via the merger of KLA and Tencor (hence “KLA-Tencor” in its past), the company has evolved into one of the foremost suppliers of equipment and analytics for wafer fabrication, reticle processing, and packaging lines. Over time, it’s carved a strong niche with high technical barriers, long replacement cycles, and deep integration into the semiconductor ecosystem.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

50+ consecutive years of dividend increases

Illinois Tool Works Inc. (NYSE: ITW) demonstrates a consistent and reliable dividend policy, which underscores its financial stability and commitment to returning value to shareholders. Recently, the company’s Board of Directors announced a 7% increase in the quarterly dividend — to $1.61 per share, equivalent to an annual dividend of $6.44 per share. This step continues the company’s long-standing tradition of increasing payouts:

ITW has been raising dividends for 51 consecutive years, and its dividend yield is approximately 2.47%. Dividends are paid quarterly, with the nearest ex-dividend date on September 30, 2025, and the payment date on October 10, 2025. The payout ratio is at a level of about 51.65–53.58%, indicating a balanced approach between distributing profits to shareholders and reinvesting in business growth.

The average annual dividend growth rate in recent years has been about 7%, reflecting the company’s ability to generate stable cash flow and earnings. Such consistent dividend growth makes ITW an attractive asset for income investors focused on long-term and reliable payments.

The Most Notable Dividend Increases of the Month

Realty Income (O) - Dividend Increase: +3.65%

25+ consistent years of dividends

Realty Income has declared 132 dividend increases since our NYSE listing in 1994.

Realty Income (NYSE: O) is a U.S.-based REIT that invests in free-standing, single-tenant commercial properties under long-term NNN leases across the United States, the United Kingdom, and six other European countries. It’s famously known as “The Monthly Dividend Company,” delivering that dependable rental income through a widely diversified property footprint.

In Q2 2025 (three months ended June 30, 2025), Realty Income posted total revenue of $1,410.4 million, up compared to $1,339.4 million a year earlier, underlining a solid topline uptick. Net income available to common stockholders reached $196.9 million, reflecting steady operational performance and rent resilience even amid market headwinds.

Microsoft Corp (MSFT) - Dividend Increase: +9.60%

20+ consecutive years of dividends. Proven Dividend Eagle 🦅

Microsoft Corporation (NASDAQ: MSFT) is a global technology leader with operations spanning cloud computing, productivity software, personal computing, AI, and enterprise services. Its key products include Microsoft 365, Azure and Windows; it operates in a large number of markets worldwide, including the U.S., Europe, and Asia.

For its fourth fiscal quarter ended June 30, 2025, Microsoft reported revenue of $76.4 billion, up 18% year-over-year, and net income of $27.2 billion, an increase of 24% YoY. The margin performance was strong, driven by contribution from cloud & AI segments, and operating income grew 23%.

Microsoft pays an annual dividend of $3.32 per share, yielding approximately 0.65%, with a dividend payout ratio of 24.34%. The company has increased its dividend for 20 consecutive years.

JP Morgan (JPM) - Dividend Increase: +7.10%

15+ consecutive years of dividends. Proven Dividend Eagle 🦅

JPMorgan Chase & Co. is one of the biggest financial services firms globally, offering banking, investment banking, asset & wealth management, consumer & community banking, payments and markets operations. It operates mainly in the U.S. but also has significant international exposure, especially in capital markets and global finance.

In Q2 2025, JPMorgan reported revenue of $44.9 billion, down about 11% YoY. Net income was $15.0 billion, down from a higher figure a year ago, but still solid given margin pressures and deposit cost headwinds.

The company pays an annual dividend of $5.60, yielding 1.78%. Dividend Increase Track Record is 15 years, 5-Year Dividend Growth is +39.00%, Dividend Payout Ratio is 28.73%.

The Most Solid Recent Dividend Hikes

• Goldman Sachs Group (GS) +33.33%

• McKesson Corp (MCK) +15.49%

• Cintas Corp (CTAS) +15.38%

• Community Trust (CTBI) +12.77%

• Cummins Inc (CMI) +9.89%

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

Global: Latest Dividend Data

The global cumulative dividend payout for Q3 2025 continued the upward trend seen in Q2 2020.

This indicates that most dividend-paying companies have weathered the impact of the 2020 crisis and successfully adapted their businesses to the new reality.

Global Total Quarterly Dividend Payments (US$ Billions)

Companies paid out $640.5 billion in dividends in the second quarter of 2025. As of now, companies have already paid out $280.4 billion in the third quarter. This figure is expected to increase by the end of the quarter (Figure 1)

U.S. Dividend Landscape

The chart shows total dividend payments by US companies in 2025, broken down by quarter. Q1 and Q2 delivered strong payouts of around $230–240B each. For Q3, the figure reflects partial data so far, with regular dividends making up the bulk and special dividends adding only a small share.

Cumulative dividends paid by US companies in 2025

Dividends paid by US companies in 2025 show steady growth as the year progresses. Cumulative payouts reached about $235B by Q1, $460B by Q2, and climbed to over $660B by Q3 to date. Regular dividends account for nearly all of the total, with special dividends making up only a small fraction.

Cumulative dividends paid by US Dividend Eagles in 2025

Dividend Eagles — companies with 15+ years of consecutive dividend growth — have already distributed over $105B in dividends year-to-date 2025. Payouts are compounding quarter by quarter: around $35B by Q1, nearly $70B by Q2, and just over $105B so far in Q3.

Proof That Dividend Eagles Deliver, Year After Year

Over the past decade, US Dividend Eagles — companies with 15+ years of consecutive dividend increases — have nearly doubled their annual payouts, climbing from around $75B in 2016 to more than $136B in 2024. That’s pure cash returned to shareholders, without even counting the effect of reinvestment.

📊 This chart makes the MaxDividends concept crystal clear: when you own businesses that never stop paying and keep raising the bar every single year, your income stream snowballs in front of your eyes. These are not flashy promises — they are the most reliable wealth-building machines in the market.

Average Dividend Yield of Dividend Eagles, Q3 2025

In 2025, the average dividend yield of Dividend Eagles has hovered around 2.1%. Yields peaked at 2.18% in Q2 before easing to 2.05% in Q3, slightly below the long-term average of 2.11%. The stability of these yields underscores the reliability of Dividend Eagles as consistent income generators for long-term investors.

🥇 Top 5 Dividend Eagles by Total Payouts (2025 YTD)

These are the heavyweights — the Dividend Eagles returning the most cash to shareholders right now:

1. Microsoft (MSFT) — 💵 $25.38B in dividends

2. Johnson & Johnson (JNJ) — 💵 $9.24B

3. Procter & Gamble (PG) — 💵 $7.66B

4. Home Depot (HD) — 💵 $6.85B

5. Coca-Cola (KO) — 💵 $6.61B

📊 Together, just these five companies alone have distributed over $55 billion in dividends so far — a powerful reminder of what it means to own reliable, world-class businesses that never stop paying.

And that’s exactly what the Dividend Eagles List is all about. 🦅 It’s our curated lineup of 100+ U.S. companies that have raised dividends for 15+ consecutive years — the strongest, most consistent payers in the market. These aren’t just stocks; they’re proven wealth-building machines built on financial stability, resilience, and decades of shareholder commitment.

👉 The full, always-updated Dividend Eagles List is available inside the MaxDividends App — exclusive to our community.

U.S. Dividend Landscape - (S&P 500)

The S&P 500 dividend yield has been cut in half over the past decade. It now stands at 1.18%, which means stock prices relative to dividends are higher than usual. As a result, the dividend yield is at record lows.

S&P 500 Historical Dividend Trends

Historical dividends from stocks that are part of the S&P 500 Index are shown in Figure 5. The data is adjusted for inflation.

With the current inflation rate (Figure 4), there is a gradual acceleration in the growth of dividends on the S&P 500 Index. The previous peak was in May 2020, when the dividend was 73.09. Currently, this figure stands at 77.47.

S&P 500 Dividend Growth

The S&P 500 dividend growth is shown in Figure 6. Over the past 32 years, the chart has been negative only three times, and all of those periods were linked to crises.

Over the past month, dividend growth has outpaced inflation, reaching 7.46%. The upward trend has continued over the past 12 months.

Inflation’s Impact on Dividends

Inflation has been rising faster than dividends have been increasing, leading to a correction in the S&P 500 dividend chart. Since mid-2022, inflation has been gradually declining, allowing the S&P 500 dividend chart to reflect growth. Since mid-2023, the pace of inflation’s decline has slowed significantly.

However, the ongoing downward trend in inflation continues to positively impact the growth of the S&P 500 dividend chart.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

📊 View Full Report (PDF) 📊

Bonus Part

My Personal Stock Watchlist — September 2025

A hand-picked list of the dividend stocks I’m actively tracking this month.

Each month I hand-pick a focused shortlist of dividend stocks worth watching. No guesswork, no hype — I screen thousands of companies and keep only the ones with strong balance sheets, reliable dividend growth, and long-term wealth-building potential.

This watchlist is where I’m putting my energy — a mix of high-yield opportunities and growth names with the power to multiply income streams over time. If you’re serious about building a future where dividends cover your lifestyle, this is where to start.

⭐️ Today’s Shortlist

FedEx (FDX)

Dividend Yield 2.49% | MaxRatio 10+ | Financial Score 97

FedEx Corporation is a global leader in transportation, e-commerce, and business services. Founded in 1971 and headquartered in Memphis, Tennessee, FedEx operates one of the world’s largest express delivery networks, serving customers across over 220 countries and territories.

Key Business Segments

1. FedEx Express – Provides time-definite international and domestic shipping services, specializing in overnight delivery and air cargo.

2. FedEx Ground – Offers cost-effective, day-definite delivery services for small packages across the U.S. and Canada.

3. FedEx Freight – Delivers less-than-truckload (LTL) freight services with nationwide coverage.

4. FedEx Services – Supports sales, marketing, IT, and customer service operations across all FedEx segments.

5. FedEx Logistics – Handles supply chain solutions including customs brokerage, warehousing, and trade management.

FedEx is known for its global reach, speed, and reliability—making it a critical partner for businesses of all sizes and a key player in global commerce.

Nexstar Media Group (NXST)

Dividend Yield 3.69% | MaxRatio 10+ | Financial Score 98

Nexstar Media Group is the largest local TV station owner in the U.S. Based in Irving, Texas, with additional operations in New York and Chicago, it owns nearly 200 stations nationwide and also runs networks like The CW, NewsNation, Antenna TV, and Rewind TV.

Key Business Segments

• Local TV Stations – Operates nearly 200 stations across large and mid-sized markets, many affiliated with major networks.

• The CW & Digital Networks – Runs The CW (75% ownership), plus classic TV networks and the national news network NewsNation.

• Digital & Political Media – Owns The Hill and delivers streaming and mobile content to reach new audiences.

• Acquisitions & Expansion – Announced a $6.2B deal to acquire Tegna, expanding reach to about 80% of U.S. TV households once closed.

Nexstar is known for its scale, reach, and disciplined growth strategy. With 12 straight years of dividend increases, a payout ratio in the mid-30% range, and strong expansion through acquisitions, it’s positioned as a dependable, growth-focused dividend stock.

Shoe Carnival (SCVL)

Dividend Yield 2.71% | MaxRatio 10+ | Financial Score 98

Shoe Carnival Inc. is a leading footwear retailer offering a wide selection of value-priced shoes for the entire family. Founded in 1978 and headquartered in Evansville, Indiana, the company operates over 400 stores across the United States and Puerto Rico, serving value-conscious consumers with an engaging in-store experience.

Key Business Segments

1. Retail Stores – Operates physical locations in high-traffic shopping areas, featuring name-brand athletic, casual, and dress footwear for men, women, and children.

2. E-Commerce – Sells merchandise through its website, combining convenience with promotional pricing and store pickup options.

3. Private Label Brands – Offers exclusive brands that help differentiate the product mix and support healthy margins.

4. Loyalty Program (Shoe Perks) – Drives repeat business with personalized promotions and member-only discounts.

Shoe Carnival is known for its upbeat store environment, value-driven pricing, and strong customer loyalty—positioning it as a go-to destination for affordable, brand-name footwear.

Happy dividends for all the holders!

- Max & MaxDividends Team

MaxDividends Mission

Helping people build growing passive income, retire early, and live off dividends.

Someone’s sitting in the shade today because someone planted a tree a long time ago. ― Warren Buffett.

Refer a friend

*Disclaimer: This article reflects the author’s personal opinions and is intended for educational and entertainment purposes only. It does not constitute financial advice in any form. Always do your own research and consult a licensed financial advisor. The author may hold positions in some of the stocks mentioned, in line with the views expressed. This is a disclosure, not a recommendation to buy or sell any securities.

As a reader of MaxDividends, you agree to our disclaimer. You can read the full disclaimer here.

The MaxDividends Macro Report is your monthly deep dive into global dividend trends — packed with data, insights, and analysis from the most dividend-focused team and community in the world.

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Hey Dividend Investors!

Looking for a hassle-free way to grow your portfolio? Our latest MaxDividends Macro Report for August 2025 is here, packed with insights that could transform your investing strategy.

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Dividend Macro Overview: August 25

Today's Table of Contents

• Dividend Eagles: 3 Top-Performing Dividend Stocks of August

• Dividend Eagles Top Stocks Updated List

• The Most Notable Dividend Increases

• The Most Solid Dividend Hikes

• Dividend Macro Highlights:

  • Global Dividend Trends

  • MaxDividends Monthly Review

• My Personal Stock Watchlist for August 2025

📊 Dividend Macro Overview - PDF 📊

Dividend Eagles: 3 Top-Performing Dividend Stocks of August

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +16.97% LOW Lowe's Companies

Building America, Paying Shareholders

Lowe’s Companies (LOW) is one of the largest home improvement retailers in the U.S., serving both DIY homeowners and professional contractors. With more than 1,700 stores across the country and a growing online business, Lowe’s provides everything from lumber and tools to appliances and paint. Its scale, trusted brand, and pro-focused strategy make it a cornerstone of America’s housing and renovation market.

For dividend investors, Lowe’s is a powerhouse. It’s a Dividend King with over 60 consecutive years of dividend hikes, backed by strong free cash flow and disciplined capital allocation.

Management continues to return billions to shareholders annually through dividends and aggressive buybacks. While the yield isn’t sky-high, the long streak of double-digit dividend growth and the company’s leadership in a resilient sector make Lowe’s a classic long-term compounder for income-focused investors.

🥈 +17.69% WST West Pharmaceutical Services

Behind the Scenes, Powering Healthcare

West Pharmaceutical Services (WST) isn’t a consumer-facing brand, but it plays a critical role in modern medicine. The company makes injectable drug delivery systems—vials, stoppers, syringes, and packaging—that pharmaceutical giants rely on to safely deliver vaccines and treatments worldwide. If you’ve ever gotten a vaccine or hospital injection, there’s a good chance West’s products were part of it. Its global reach and dominance in a niche, high-barrier-to-entry market make it a quiet backbone of the healthcare system.

For dividend investors, WST offers consistency and growth. The company has raised its dividend for over 30 consecutive years, supported by steady margins and strong free cash flow from recurring healthcare demand.

While the yield is modest, dividend growth has been robust—averaging double digits in recent years. With a conservative payout ratio and leadership in a mission-critical niche, West is built to keep compounding dividends for decades to come.

🥇 +18.82% WSM Williams-Sonoma

Home Comforts, Premium Dividends

Williams-Sonoma (WSM) is a high-end home goods retailer best known for its namesake stores plus popular brands like Pottery Barn and West Elm. The company sells furniture, cookware, and lifestyle products that blend design with functionality—serving customers both online and through an established brick-and-mortar footprint. With a strong e-commerce platform driving over half of sales, WSM has built a reputation as the go-to for stylish, durable, and premium home essentials.

For dividend investors, Williams-Sonoma checks a lot of boxes. The company has raised its dividend for more than a decade straight, often at double-digit rates, and currently offers an above-average yield for retail.

Its asset-light model, strong free cash flow, and aggressive share buybacks give it flexibility to keep rewarding shareholders—even in slower housing or consumer cycles. For long-term income seekers, WSM is a rare mix of retail brand power, disciplined capital returns, and steady dividend growth.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

50+ consecutive years of dividend increases

Federal Realty Investment Trust (FRT) stands as a true Dividend King, boasting an unmatched 57-year streak of consecutive annual dividend increases—the longest in the REIT sector and a rare feat among real estate companies.

This remarkable consistency reflects its disciplined business model, which prioritizes high-quality, well-located retail and mixed-use properties in affluent, densely populated areas.

Unlike peers that chase scale, Federal Realty focuses on value-add redevelopment, transforming underperforming assets into premium destinations, ensuring steady cash flow to support its growing dividend.

Today, its 4.6% yield not only surpasses the REIT average but also sits near decade highs, making it a compelling choice for income investors seeking reliability and long-term growth. With a proven track record through economic cycles, Federal Realty remains a cornerstone of dividend resilience.

The Most Notable Dividend Increases of the Month

Badger Meter (BMI) - Dividend Increase: +18.00%

30+ consistent years of dividends. Proven Dividend Eagle 🦅

Badger Meter (BMI) is that solid measurement-tech name I’d bring up to a friend—making smart water meters, flow instrumentation, and analytics tools for utilities and industrial users across North America and beyond. They’re not flashy, but where accurate water data matters most, they’re the backbone.

For Q2 2025, BMI posted revenue of $238.1 million , up 10 % year-over-year . Net income was $34.6 million, representing a margin play that held strong despite market cycles—not headline grabbing, but dependable.

Dividend-wise, the numbers are clean: Annual Dividend is $1.36, Dividend Yield is 0.71 %, Dividend Increase Track Record is 32 years, 5-Year Dividend Growth is +100.00 %, and Dividend Payout Ratio is 29.58 %.

Illinois Tools (ITW) - Dividend Increase: +7.00%

50+ consecutive years of dividends. Proven Dividend Eagle 🦅

Illinois Tool Works (NYSE: ITW) engineers and manufactures complex industrial products across sectors like automotive, welding, food equipment, polymers, construction, and test & measurement. With operations in over 50 countries and a decentralized business model focused on innovation and pricing power, ITW leverages scale and recurring demand to drive profitability—"not flashy but steady," as you always say.

In Q2 2025, ITW posted $4.05 billion in revenue, up 1% year-over-year with flat organic growth . Net income came in at $755 million, roughly steady with last year, while GAAP EPS was $2.58, up 2% YoY, setting a new Q2 record. Margins expanded with operating margin of 26.3%, up about 10 basis points, thanks to enterprise initiatives adding 130 bps of leverage . It’s a textbook margin play—even in flat end markets.

The company pays an annual dividend of $6.00, yielding 1.83% . ITW has raised its dividend for 54 consecutive years, with 5-year dividend growth of 40.00%, and maintains a payout ratio near 67.13% . Yield is modest, but income consistency and capital discipline are built right into the DNA.

PPG Industries (PPG) - Dividend Increase: +4.40%

50+ consecutive years of dividends. Proven Dividend Eagle 🦅

PPG Industries (PPG) makes specialty coatings, paints, and materials used in industries like aerospace, automotive, packaging, and construction. With operations in over 70 countries, PPG serves both industrial manufacturers and end‑market consumers through its performance, architectural, and industrial coatings segments. It’s a global chemical stalwart—steady, diversified, and deeply embedded in industrial supply chains.

For Q1 2025, PPG reported $3.684 billion in revenue, down 4.0% year-over-year, pressured by foreign currency translation and prior divestitures. Net income stood at $375 million, a decline of 7% YoY, while adjusted net income was $396 million, reflecting a compressed net margin. Gross and operating leverage held up reasonably given volume softness—classic industrial margin discipline showing up in difficult macro conditions.

PPG pays an annual dividend of $2.72, yielding about 2.36%. They’ve raised dividends for 53 consecutive years, with 5-year dividend growth at around 34.00%, and a payout ratio of approximately 58.22%—a solid income stream backed by industrial-scale cash generation and long-term dividend discipline.

The Most Solid Recent Dividend Hikes

• Casey’s General Stores Inc (CASY) +14.00%

• Logitech International S.A. (LOGI) +12.19%

• Oil-Dri Corporation of America (ODC) +16.13%

• W.R. Berkley Corporation (WRB) +12.50%

• Worthington Industries Inc (WOR) +11.76%

🦅 Dividend Eagles List: August’25

An updated compilation of top-performing dividend stocks with 15+ years of consecutive dividend increases, known as Dividend Eagles, selected based on stringent criteria.

The Dividend Eagles Top Stocks List is a curated selection of over 100 of the most reliable dividend-paying companies in the U.S. market.

Each company on this list boasts a remarkable track record of increasing dividends for at least 15 consecutive years, reflecting their financial stability and commitment to returning value to shareholders.

Key Benefits of the Dividend Eagles Top Stocks List

Consistent Dividend Growth

Companies featured have a proven history of not only paying dividends but also increasing them annually for over 15 years. This consistency can provide investors with a growing income stream, which is particularly valuable for those seeking passive income or planning for retirement.

Financial Stability

The stringent criteria ensure that only financially robust companies are included. These firms have demonstrated resilience across various market cycles, making them potentially safer investments during economic downturns.

Comprehensive Research

The list is meticulously compiled by the MaxDividends team, leveraging in-depth analysis and strict selection criteria. This saves investors time and effort in identifying high-quality dividend stocks, providing a reliable resource for building a dividend-focused portfolio.

Enhanced Portfolio Performance

Investing in companies with a strong dividend growth history can lead to superior long-term returns. Reinvested dividends and the power of compounding can significantly boost portfolio value over time.

Access to Exclusive Insights

Subscribers to the Dividend Eagles Top Stocks List gain access to regular updates, detailed company analyses, and insights into dividend trends, helping them make informed investment decisions.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

By incorporating the Dividend Eagles Top Stocks List into your investment strategy, you align yourself with a disciplined approach focused on quality, stability, and growth.

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

U.S. Dividend Landscape (S&P 500)

The S&P 500 dividend yield has been cut in half over the past decade. It now stands at 1.21%, which means stock prices relative to dividends are higher than usual. As a result, the dividend yield is at record lows.

Inflation's Impact on Dividends

Inflation has been rising faster than dividends have been increasing, leading to a correction in the S&P 500 dividend chart. Since mid-2022, inflation has been gradually declining, allowing the S&P 500 dividend chart to reflect growth. Since mid-2023, the pace of inflation’s decline has slowed significantly.

However, the ongoing downward trend in inflation continues to positively impact the growth of the S&P 500 dividend chart.

S&P 500 Historical Dividend Trends

Historical dividends from stocks that are part of the S&P 500 Index are shown in Figure 5. The data is adjusted for inflation.

With the current inflation rate, there is a gradual acceleration in the growth of dividends on the S&P 500 Index. The previous peak was in May 2020, when the dividend was 73.09. Currently, this figure stands at 77.35.

S&P 500 Dividend Growth

The S&P 500 dividend growth is shown in Figure 6. Over the past 32 years, the chart has been negative only three times, and all of those periods were linked to crises.

Over the past month, dividend growth has outpaced inflation, reaching 7.46%. The upward trend has continued over the past 12 months.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

📊 Dividend Macro Overview - PDF 📊

My Personal Stock Watchlist for August 2025

A complete list of my top stocks currently on my radar.

I’m fully committed to strong dividend stocks, striking the perfect balance between capital growth and a rising stream of dividend income. My ultimate goal? To build a solid and ever-growing passive income for a life funded by dividends.

I share my insights, strategy, stock picks, and investment ideas on the MaxDividends blog.

Right now, I’m tracking over 45 companies, regularly updating my shortlist and main watchlist every month.

🏆 Max's Watchlist of August 25 🏆

MaxDividends Recent Events

By following the MaxDividends strategy and passing it on to your kids, you can eliminate a lot of your future worries about income.

At MaxDividends, we focus on maximizing yields to make the most of dividends, helping you grow a reliable and expanding passive income.

Last week, we shared several new articles and dividend stock ideas—stay tuned for insights and opportunities!

👉 List of Undervalued Dividend Stocks (August)

👉 Target’s Secret Weapon for Dividend Investors — And Why It Still Works After 53 Years

My Comments & Monthly Review

One more step forward, and I just locked in an extra $112 in annual cash flow—on top of what I already had, and now it’s official.

No market forecasts, no guessing oil prices, no endless news debates. I don’t need them.

What I do need? Cash hitting my bank account—month after month—so I can pay the bills and live life on my own terms.

With every step, I’m closer to my goal than I was a year ago. A lot of small, quiet moves eventually turn into big, noticeable results. My passive income keeps snowballing, and right now, that snowball is already generating almost $9,000 a year—on autopilot.

Time passes, life goes on, but here’s the difference: it now goes on with an extra $9K showing up in my pocket every single year. I could walk away from my portfolio for a year, even two, and guess what? The income wouldn’t just stay—it would keep growing.

Why? Because I own the best businesses, led by the smartest leaders in the world, working 24/7 to make me richer while I focus on the people and things I love. That’s the beauty of it. I’m a happy, lazy turtle with a growing bank account—and I wouldn’t trade this journey for anything.

This is the MaxDividends concept in action—a clear, proven strategy built on the strongest dividend stocks we call Dividend Eagles. They’ve carried me this far and will take me all the way to my goal, on time.

If you haven’t started yet, remember: every month you wait is another month you could have been getting paid. That’s money you’ll never get back. Don’t let the snowball start without you.

My passive income keeps increasing. In my investments, I follow the MaxDividends strategy. You can read more about it here:

👉 MaxDividends Strategy

My strategy is based on the MaxDividends concept and is incredibly passive. Most of the time, I do nothing—just watch my dividend income grow.

I track all my results in the MaxDividends App—it provides a clear, structured view of every portfolio.

MaxDividends Dividend Market Monthly Review

Here we go—another month down, another step closer to financial freedom. The MaxDividends journey is built on real stories, real numbers, and real compounding.

August has been a busy one: dividends hit the account, reinvestments went straight back to work, and new stock picks were added to strengthen the foundation. Whether you’re just starting or already deep in, the truth is simple—every dollar invested in quality dividend payers keeps stacking future income.

The guys who start today will thank themselves tomorrow. The ones who wait? They’ll feel the FOMO.

What’s Happening in the MaxDividends Portfolio?

July payouts rolled in and, true to strategy, got reinvested immediately—turning income into more shares and more future income.

• New Buys: Added $10,000 to Yokogawa Bridge (Japan) with another $20,000 lined up next week. On the U.S. side, select high-yield names were added to balance steady income with long-term growth.

• Dividend Hikes: A few holdings boosted payouts this month—the best kind of raise, because it’s money working harder without lifting a finger.

• Core Philosophy: No hype chasing, no panic selling. Just methodical compounding through quality and consistency.

Market Mood: Fear = Opportunity?

The headlines keep screaming uncertainty. Inflation hasn’t vanished, volatility is back, and growth stocks hog the spotlight. But here’s the truth: volatility is noise. Cash flow is real.

Smart dividend investors see shaky markets for what they are—buying opportunities. Quality dividend payers that raise payouts through cycles make short-term swings irrelevant. Every pullback is a chance to buy more income at a discount.

Dividend Ideas of the Month

Over 500 companies were screened this cycle, and the strongest ideas made it through. A mix of defensive names, high-yield opportunities, and steady growers:

• Merck (MRK) – Pharma powerhouse, trading near lows, yielding ~3.8%. A defensive anchor.

• OZK Bank (OZK) – Regional bank with industry-best efficiency and conservative risk management. Rock-solid for income stability.

• Johnson & Johnson (JNJ) – The Dividend King. Diversified, defensive, and still raising payouts.

• T. Rowe Price (TROW) – Cash-rich asset manager with a strong dividend protection track record.

• High-Yield Screeners – Financials, energy, telecoms, and REITs, many offering 7%+ yields paired with sustainable payout ratios.

These aren’t spec plays—they’re cash flow generators designed to compound.

Inside the App: Tools Getting Stronger

The MaxDividends app keeps evolving:

• New dividend score analytics

• Improved payout ratio visibility

• Real-time yield tracking

• Goal-based alerts to keep you on track for your monthly income targets

The mission stays clear: make dividend investing simple, powerful, and accessible. Whether your goal is $500 or $12,000/month, the app is your roadmap.

From the Founder: Max’s Monthly Word

When I started, I was putting $50 a month into dividend stocks. It wasn’t the amount—it was the habit. That tiny start snowballed into a system that now pays thousands every single month.

Here’s the lesson: don’t wait for “perfect.” Don’t wait for “someday.” Start small. Stay consistent. Compounding is the heavy lifter—you just need to show up.

MaxDividends $12K Project: The Passive Income Race

We’re 15 months into the public challenge—building $12,000/month in dividends over 120 months.

• Current income: $750/month

• Future projection: $12,000/month in 10–12 years

• Approach: Blend of high-yielders for immediate income + dividend growers for compounding

This is proof in motion: consistency beats hype, and patience pays.

Dividend Education: Did You Know?

• The world’s first dividend was paid in 1602 by the Dutch East India Company.

• Reinvested dividends with 8–10% annual growth outpace inflation over time.

• Dividend growers (30+ year streaks) historically outperform during downturns.

• Invest $1,000/month in 4% yielders growing 6% a year → in 15 years, passive income >$20,000 annually without touching principal.

This isn’t speculation. It’s math.

Your Monthly Checklist

✓ Reinvest all July dividends
✓ Review top picks and add one new high-yield position
✓ Track progress on the $12K Project
✓ Log into the app for updated dividend alerts and analytics
✓ Share MaxDividends with a friend who’s still “waiting to start”

Final Word: This Is Freedom in Motion

Every dividend check, every reinvestment, every steady buy—it’s building a life on your terms. The goal isn’t to out-trade Wall Street or predict headlines. The goal is freedom.

And here’s the truth: the guys who’ll be financially free in 10–15 years aren’t talking about it—they’re buying today. Quietly. Consistently. One dividend at a time.

My Strategic Thoughts & Plans for 2025

Main

For the past 20 years, I’ve aggressively invested my time and resources into building businesses, which have been my main source of capital. In recent years, my stock investments have further grown that capital.

This year, I’m turning 40. As a father of three, I want to stay involved in business and investing, but on my own terms. My goal is to take on a more strategic role, free up more time for myself and my family, and pursue interests I’ve put off for years. Investing allows me to do just that.

In 2025, I’m transitioning to fully living off dividends. My primary capital and main portfolio—filled with strong growth companies and high-dividend stocks—will fund this shift.

Q3 2025

Here’s the plan for this quarter:

In my main portfolio, I’ll be putting accumulated cash to work — adding to dividend stocks and continuing to reinvest aggressively. Right now, I don’t need to draw from my dividend income, so every dollar is going back into more dividend-paying shares.

That said, I’m already tracking how my monthly income is growing, how my capital is compounding, and how the overall trend is moving. I’m starting to get used to seeing over $10,000 a month in dividends — and I’m loosely comparing that against our monthly expenses. It’s a good place to be.

As for the $12,000 dividend portfolio, no changes there — still sticking with weekly buys of $3,000 throughout the quarter, like clockwork.

The kids’ portfolios also stay on track — I’ll continue investing $300 into each one, once per quarter. Three kids, three portfolios, one consistent plan.

The structure of all portfolios remains the same. The strategy hasn’t changed either: the focus is still on dividend income and dividend growth, with capital appreciation as a bonus — driven by buying financially strong, undervalued businesses.

Right now, 90% of my core portfolio consists of high-yielding, dividend-growing stocks. My average monthly dividend income is now approaching $6,000. For now, I’ll continue reinvesting these dividends to accelerate the growth of both my dividends and passive income.

💡 My strategy is based on the MaxDividends Investing Concept and Dividend Eagles, and it’s incredibly low-maintenance. Most of the time, I just sit back and watch my passive income grow.

I’ll share with you simple, proven, and effective methods for selecting built-to-last companies—led by generations of exceptional leaders—that pay consistently growing dividends. These companies provide ever-expanding passive income, allowing you to focus on what you love and spend time with the people who matter most.

✅ This is a time-tested, results-driven approach that leads to predictable success.
By focusing on strong, reliable companies that pay above-average dividends and steadily increase payouts over time, we set the foundation for consistent dividend growth and financial freedom.

👉 My Recent Friday Purchases Overview

My Plans for This Week

A new week is here, and my dividend journey keeps moving forward. Last week alone, my portfolio added over $100 in extra annual dividend income. And I’m not slowing down.

The spotlight last week was on OZK Bank—I’ve been adding heavily, building the position up to an average weight in my portfolio. On my shortlist right now: Lowe’s, Target Corp, Nexstar Media, Snap-On, and I’m keeping an eye on Shoe Carnival.

Over the weekend, I had a chance to dig deeper into the numbers, and I like what I’m seeing as far as entry conditions for new positions. I’ll be sharing more of my thoughts on that later this week.

As for the MaxDividends App—we’re continuing to refine and expand. Right now, we’re verifying dividend histories and payout data, plus adding new companies from both the U.S. and Japan. We’ve also rolled out a few new reference notes to explain key metrics, and we’ve significantly sped up load times across several core sections of the app.

Happy dividends for all the holders!

MaxDividends Mission

Helping people build growing passive income, retire early, and live off dividends.

Refer a friend

*Disclaimer: This article reflects the author’s personal opinions and is intended for educational and entertainment purposes only. It does not constitute financial advice in any form. Always do your own research and consult a licensed financial advisor. The author may hold positions in some of the stocks mentioned, in line with the views expressed. This is a disclosure, not a recommendation to buy or sell any securities.