5 UK Dividend Growth Stocks to Consider

4. Diageo plc (NYSE:DEO)

Beverage company Diageo plc (NYSE:DEO) is a dividend aristocrat with over 25 years of consistent dividend increases under its belt. Perhaps its dividend history and growth prospects were the reasons why the Oracle of Omaha snapped up a $41 million stake in Diageo plc (NYSE:DEO) during the first quarter.

 In January this year, Diageo plc (NYSE:DEO)’s management talked about its dividend growth plan:

“We’ll also be disciplined on the other side from a divestiture portfolio as we have been dividend, we will continue to be a progressive dividend payer, and we’ve announced a 5% dividend increase in this first half of this year. And then return of capital, we’ve announced an additional GBP500 million of return of capital for this year, and we will come back at year-end results with a further update for next fiscal if the Board decides to do so.”

As of the end of the first quarter of 2023, 23 hedge funds tracked by Insider Monkey reported owning stakes in Diageo plc (NYSE:DEO).