5 Best Consistent Dividend Stocks to Buy

In this article, we discuss 5 best consistent dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read 16 Best Consistent Dividend Stocks to Buy. 

5. Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Consecutive Years of Dividend Growth: 27
5-Year Average Payout Ratio: 43.2%

Lincoln Electric Holdings, Inc. (NASDAQ:LECO) is an Ohio-based multinational company of welding products. The company also specializes in robotic welding systems. The company currently pays a quarterly dividend of $0.64 per share, having raised it by 14.3% in October 2022. This was the company’s 27th consecutive year of dividend growth, which makes it one of the best consistent dividend stocks on our list. The stock has a dividend yield of 1.51%, as of February 28.

In the fourth quarter of 2022, Lincoln Electric Holdings, Inc. (NASDAQ:LECO) reported revenue of $930.9 million, which showed a 10.3% growth from the same period last year. The company’s 5-year average dividend payout ratio came in at 43.2%.

In February, Baird raised its price target on Lincoln Electric Holdings, Inc. (NASDAQ:LECO) to $180 with an Outperform rating on the shares, highlighting the company’s strong international business.

As of the end of Q4 2022, 28 hedge funds tracked by Insider Monkey reported owning stakes in Lincoln Electric Holdings, Inc. (NASDAQ:LECO), with a total value of roughly $314 million. Among these hedge funds, Woodline Partners was the company’s leading stakeholder in Q4.