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.

4. Badger Meter, Inc. (NYSE:BMI)

Consecutive Years of Dividend Growth: 30
5-Year Average Payout Ratio: 43.7%

Badger Meter, Inc. (NYSE:BMI) is an American company that provides industry-leading water solutions to its consumers. In the fourth quarter of 2022, the company posted revenue of $147.3 million, up 8.5% from the prior-year period. The company operating cash flow for the quarter came in at $29.7 million.

On February 10, Badger Meter, Inc. (NYSE:BMI) declared a quarterly dividend of $0.225 per share, which fell in line with its previous dividend. In 2022, the company achieved its 30 years streak of dividend growth. The stock has a dividend yield of 0.74%, as recorded on February 28. The company’s 5-year average dividend payout ratio came in at 43.7%.

At the end of December 2022, 19 hedge funds in Insider Monkey’s database reported owning stakes in Badger Meter, Inc. (NYSE:BMI), compared with 20 a quarter earlier. These stakes have a collective value of $192.8 million.

3. Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Consecutive Years of Dividend Growth: 34
5-Year Average Payout Ratio: 39.2%

Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a Missouri-based information technology company that mainly provides payment processing services to the finance industry. In February 2023, the company took its dividend growth streak to 34 years. It currently offers a quarterly dividend of $0.52 per share and has a dividend yield of 1.25%, as of February 28.

Following the company’s recent quarterly earnings, DA Davidson maintained a Neutral rating on Jack Henry & Associates, Inc. (NASDAQ:JKHY) in February, with a $188 price target.

As of the end of the December quarter, 27 hedge funds tracked by Insider Monkey owned stakes in Jack Henry & Associates, Inc. (NASDAQ:JKHY), up from 25 in the previous quarter. These stakes have a consolidated value of over $223 million. AQR Capital Management was the company’s largest stakeholder among these hedge funds.

2. McCormick & Company, Incorporated (NYSE:MKC)

Consecutive Years of Dividend Growth: 37
5-Year Average Payout Ratio: 43.6%

McCormick & Company, Incorporated (NYSE:MKC) is another one of the best consistent dividend stocks on our list. The food manufacturing company has been raising its dividends consistently for the past 37 years and currently offers a per-share dividend of $0.39 every quarter. The stock has a dividend yield of 2.10%, as of February 28. The company has a healthy 5-year average dividend payout ratio of 43.6%.

In January, Bernstein upgraded McCormick & Company, Incorporated (NYSE:MKC) to Outperform with a $90 price target. The firm expects a recovery in the company’s fundamental performance over the course of 2023.

According to Insider Monkey’s Q4 2022 database, 25 hedge funds owned stakes in McCormick & Company, Incorporated (NYSE:MKC), with a total value of over $1.5 billion.

1. Brady Corporation (NYSE:BRC)

Consecutive Years of Dividend Growth: 37
5-Year Average Payout Ratio: 38.6%

Brady Corporation (NYSE:BRC) is an American manufacturing company that deals in specialty products and technical equipment. The company offers a quarterly dividend of $0.23 per share and has a dividend yield of 1.68%, as of February 28. This consistent dividend stock has raised its payouts for 37 years in a row. Moreover, its five-year average payout ratio came in at 38.6%.

At the end of Q4 2022, 14 hedge funds tracked by Insider Monkey owned investments in Brady Corporation (NYSE:BRC), up from 11 in the previous quarter. The stakes owned by these hedge funds have a total value of $95.7 million.

You can also take a look at 12 Best AI Stocks for 2023 and 15 Best Oil Stocks to Buy

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