12 Best Mid-Cap Dividend Aristocrats to Invest in Now

6. Polaris Inc. (NYSE:PII)

Number of Hedge Fund Holders: 26

Polaris Inc. (NYSE:PII) is a Minnesota-based automotive manufacturer that specializes in designing and producing powersports vehicles, which it groups into three main segments: off-road vehicles (including ATVs, side-by-sides, and snowmobiles), on-road vehicles (such as motorcycles and light-duty utility vehicles), and marine products (like pontoons and deck boats).

Polaris Inc. (NYSE:PII) currently holds either the top or second-largest market share in every category it serves. With a history spanning 70 years, the company has established a broad dealer network to distribute its vehicles and related accessories. This extensive reach allows the company to invest significantly in research and development, enabling it to create vehicles that are more powerful, safer, higher performing, and visually appealing, helping it retain its leadership in the market.

Polaris Inc. (NYSE:PII) reported mixed earnings in the first quarter of 2025. Its revenue came in at $1.5 billion, which fell by 12% from the same period last year. However, it beat analysts’ estimates by $10 million. North America sales for the quarter came in at nearly $1.3 billion, which represented 84% of the company’s total sales, though 11% down on a YoY basis. Total company sales declined due to reduced volume and lower net pricing, which was influenced by increased promotional activity. However, these impacts were partially offset by a more favorable product mix.

That said, Polaris Inc. (NYSE:PII)’s cash position remained stable despite facing declines on various fronts. The company ended the quarter with $291.7 million available in cash and cash equivalents. In addition, its operating cash flow came in at $83.2 million, compared with an outflow of $105 million in 2024. In January, the company achieved its 30th consecutive annual dividend hike, which makes PII one of the best dividend stocks on our list. It offers a quarterly dividend of $0.67 per share and has a dividend yield of 7.90%, as of May 5.