30 Dividend Kings of 2021 (Part III)

This is the last part of Insider Monkey’s three-part series of 30 dividend kings of 2021. Click to check out Top 5 Dividend Kings of 2021 (Part III). You can also go to 30 Dividend Kings of 2021 (Part I) and 30 Dividend Kings of 2021 (Part II).

10. Farmers & Merchants Bancorp, Inc. (OH) Common Stock (NASDAQ: FMAO)

Dividend Yield: 2.82%

The Farmers & Merchants Bancorp offers commercial banking services, with a special focus on agriculture sector. It also offers agricultural and residential mortgage, consumer and credit card lending activities. In 2020, the company increased its dividend for the 55th straight year. Earlier in February, the company posted its full-year results. GAAP EPS in the quarter came in at $74.03, while revenue in the quarter jumped 2% to $174.3 million.

9. Cincinnati Financial Corporation (NASDAQ: CINF)

Dividend Yield: 2.89%

Cincinnati Financial offers property and casualty insurance services. In the third quarter, the company posted non-GAAP operating income of $0.39 cents per share, in-line with the Wall Street’s estimates.  As of the end of the third quarter, 19 hedge funds tracked by Insider Monkey held stakes in the company. The total value of these stakes is $735.84 million.

Robert Joseph Caruso’s Select Equity Group is one of the leading hedge funds having stakes in the company. The fund owns 8.37 million shares of the company, worth 652.68 million.

Here’s what Brown Advisory said about CINF stock in their Q2 Letter:

“Commercial insurer Cincinnati Financial dropped on expectations that mandated COVID-19 business shutdowns in the U.S. will result in a surge of business interruption insurance claims and potentially large settlement payments in the coming months. We added slightly to our position during the quarter.”

Related Article: Is CINF A Good Stock To Buy Now?

8. Genuine Parts Company (NYSE: GPC)

Dividend Yield: 3.15%

Georgia-based Genuine Parts sells automotive replacement parts, industrial replacement parts, office products and electronic materials. The company has increased its dividend consistently over the last 63 years. In the third quarter, Genuine Parts’ non-GAAP EPS came in at $1.63, above the Street’s estimates by $0.21.  Revenue in the period came in at $4.37 billion, missing the Street’s estimates by $70 million.

A total of 23 hedge funds tracked by Insider Monkey were bullish on Genuine Parts at the end of the third quarter.

Amana Mutual Fund said the following about GPC stock in their investor letter:

“Genuine Parts presents something of a conundrum. As a supplier of replacement automotive parts, the decline in new car sales would be good. On the other hand, people aren’t driving nearly as much.”

Related Article: 10 Best Auto-Part Stocks To Buy For 2021

7. 3M Co (NYSE: MMM)

Dividend Yield: 3.34%

3M is a major industrial player in the U.S. that sells thousands of products, including adhesives, abrasives, laminates, passive fire protection, window films, paint protection films, dental and orthodontic products. The company on Feb. 2 declared a quarterly dividend of $1.48 per share, a 1% increase.

Hedge fund sentiment ticked up for 3M in the third quarter, as 56 funds tracked by Insider Monkey ended the quarter with the stock in their portfolios, up from 42 funds a quarter earlier.

Related Article: Is 3M (MMM) A Good Stock To Buy Now?

6. Black Hills Corp (NYSE: BKH)

Dividend Yield: 3.70%

Black Hills is a recent addition in the dividend kings 2021 list. The company provides electricity and gas to South Dakota and Wyoming. It is also a major provider of power throughout the American West.  The company is serving 1.28 million customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.

The company became a dividend king in October 2020, when it announced a 5.6% increase in its dividend.

Click to continue reading and see the Top 5 Dividend Kings of 2021 (Part III).

Also check out 30 Dividend Kings of 2021 (Part I) and 30 Dividend Kings of 2021 (Part II).

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Disclosure: None. 30 Dividend Kings of 2021 (Part III) is originally published at Insider Monkey.