5 Future Dividend Kings in the Next 6 Years or Less

In this article, we discuss 5 future dividend kings in the next 6 years or less. If you want to read our detailed analysis of dividend stocks and their returns over the years, go directly to read 12 Future Dividend Kings in the Next 6 Years or Less. 

5. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Consecutive Years of Dividend Growth: 47

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is a retail holding company that owns retail pharmacy chains and other pharmaceutical manufacturing and distribution companies. The company is among the best dividend kings of the future as it has raised its payouts consistently for the past 47 years. The stock’s dividend yield on March 23 came in at 5.91%.

Loop Capital initiated its coverage on Walgreens Boots Alliance, Inc. (NASDAQ:WBA) in February with a Buy rating and a $45 price target. The firm appreciated the company’s new healthcare platform.

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) was a popular buy among hedge funds in Q4 2022, as 42 funds tracked by Insider Monkey owned stakes in the company, up from 39 in the previous quarter. The collective value of these stakes is over $1.08 billion. Citadel Investment Group was the company’s leading stakeholder in Q4.

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.”

3. Telephone and Data Systems, Inc. (NYSE:TDS)

Consecutive Years of Dividend Growth: 48

Telephone and Data Systems, Inc. (NYSE:TDS) is an American multinational telecommunications company, based in Chicago. The company’s cash position remained strong last year as its operating cash flow at the end of December 2022 came in at $832 million, compared with $802 million in 2021. It had $273 million available in cash and cash equivalents at the end of 2022, up from $156 million in the prior-year period.

Telephone and Data Systems, Inc. (NYSE:TDS), one of the best dividend kings of the future, currently pays a quarterly dividend of $0.185 per share. In 2023, the company took its dividend growth streak to 48 years. The stock has a dividend yield of 7.46%, as of March 23.

At the end of Q4 20222, 20 hedge funds tracked by Insider Monkey reported having stakes in Telephone and Data Systems, Inc. (NYSE:TDS), up from 13 in the previous quarter. These stakes have a consolidated value of over $67.8 million.

2. RPM International Inc. (NYSE:RPM)

Consecutive Years of Dividend Growth: 49

RPM International Inc. (NYSE:RPM) is an Ohio-based multinational paint and coating manufacturing company. On January 3, the company declared a quarterly dividend of $0.42 per share, which fell in line with its previous dividend. The company is among the best dividend kings of the future as it has raised its dividends for 49 years in a row. The stock’s dividend yield came in at 2.02% on March 23.

Following the company’s quarterly earnings, BMO Capital maintained an Outperform rating on RPM International Inc. (NYSE:RPM) in January with a $112 price target.

As per Insider Monkey’s Q4 2022 database, 26 hedge funds owned stakes in RPM International Inc. (NYSE:RPM), up from 23 in the preceding quarter. The collective value of these stakes is over $243.6 million. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q4.

1. Consolidated Edison, Inc. (NYSE:ED)

Consecutive Years of Dividend Growth: 49

Consolidated Edison, Inc. (NYSE:ED) is a New York-based energy company. It has been raising its dividends consistently for the past 49 years and is one year away from achieving its Dividend King status. The company offers a quarterly dividend of $0.81 per share and has a dividend yield of 3.52%, as of March 23.

At the end of Q4 2022, 25 hedge funds in Insider Monkey’s database reported having investments in Consolidated Edison, Inc. (NYSE:ED), worth over $460 million collectively. AQR Capital Management was the company’s leading stakeholder in Q4.

You can also take a look at 16 Best Strong Buy Stocks To Invest In and 13 Best Monthly Dividend Stocks to Buy

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