5 Income Stocks with Over 10 Years of Dividend Increases

In this article, we discuss 5 income stocks with over 10 years of dividend increases. If you want our detailed analysis of these stocks, go directly to 10 Income Stocks with Over 10 Years of Dividend Increases. 

5. AXIS Capital Holdings Limited (NYSE:AXS)

Dividend Yield as of January 19: 3.04%

Number of Hedge Fund Holders: 26

Number of Years of Dividend Increases: 18

AXIS Capital Holdings Limited (NYSE:AXS) is a holding company that operates via its subsidiaries, conducting operations in Bermuda, the United States, Canada, Europe, and Singapore. AXIS Capital Holdings Limited (NYSE:AXS) line of business includes property, professional lines, terrorism, marine, energy, environmental, and other categories of insurance and reinsurance. 

AXIS Capital Holdings Limited (NYSE:AXS) on December 2 declared a $0.43 per share quarterly dividend, which reflects a 2.4% increase from the prior dividend of $0.42. The dividend was paid on January 18 to shareholders of record on December 30. The company also announced a share repurchase program of $100 million in common stock, effective until December 31, 2022. 

On January 4, Wells Fargo analyst Elyse Greenspan upgraded AXIS Capital Holdings Limited (NYSE:AXS) to Equal Weight from Underweight with a price target of $57, up from $54. The analyst believes that AXIS Capital Holdings Limited (NYSE:AXS) should be able to benefit from the continued favorable market conditions. Further, she notes AXIS Capital Holdings Limited (NYSE:AXS) recently announced a new buyback authorization, which will enable the company to return excess capital to shareholders, while still taking advantage of organic growth opportunities. Lastly, the shares trade at a cheap valuation.

Pzena Investment Management is the largest AXIS Capital Holdings Limited (NYSE:AXS) stakeholder as of Q3 2021, owning 7.1 million shares of the company, worth $327 million. Overall, 26 hedge funds were long AXIS Capital Holdings Limited (NYSE:AXS) in the third quarter, up from 19 funds in the prior quarter.