5 Future Dividend Kings in the Next 6 Years or Less

4. Automatic Data Processing, Inc. (NASDAQ:ADP)

Consecutive Years of Dividend Growth: 48

Automatic Data Processing, Inc. (NASDAQ:ADP) is a New Jersey-based management services company. In January, Barclays maintained an Overweight rating on the stock with a $278 price target, appreciating the company’s management and its recent quarterly earnings.

Automatic Data Processing, Inc. (NASDAQ:ADP) currently pays a quarterly dividend of $1.25 per share and has a dividend yield of 2.34%, as of March 23. The company has raised its dividends consistently for the past 48 years. It is among the best dividend kings of the future on this list.

At the end of Q4 2022, 49 hedge funds tracked by Insider Monkey owned stakes in Automatic Data Processing, Inc. (NASDAQ:ADP), up from 48 in the previous quarter. These stakes have a consolidated value of over $3.5 billion.

Carillon Tower Advisers mentioned Automatic Data Processing, Inc. (NASDAQ:ADP) in its Q3 2022 investor letter. Here is what the firm has to say:

“Despite a difficult macroeconomic environment, hiring trends have remained robust and Automatic Data Processing, Inc. (NASDAQ:ADP) shares reacted positively to strong quarterly earnings and guidance that was well above consensus expectations.”