5 Dividend Kings To Buy For Safe Dividend Growth

4. Nordson Corporation (NASDAQ:NDSN)

5-Year Average Annual Dividend Growth Rate: 16.02%
Dividend Yield as of March 8: 1.17%

Nordson Corporation (NASDAQ:NDSN) is an American adhesive manufacturing company, based in Ohio. KeyBanc upgraded the stock to Overweight with a $255 price target. The firm appreciated the company’s ‘best-in-class’ returns and its constructive capital allocation.

Nordson Corporation (NASDAQ:NDSN) currently offers a quarterly dividend of $0.65 per share for a dividend yield of 1.17%, as of March 8. The company maintains a 59-year streak of consistent dividend growth, which places it as one of the best dividend kings for safe dividend growth. In the past five years, the company has raised its dividends at an annual average rate of 16.02%.

At the end of Q4 2022, 25 hedge funds in Insider Monkey’s database owned stakes in Nordson Corporation (NASDAQ:NDSN), compared with 26 in the previous quarter. The collective value of these stakes is over $284.3 million.

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