Dividend Growth Stocks: 10 Aristocrats

9. A. O. Smith Corporation (NYSE:AOS)

5-Year Annual Dividend Growth Rate: 10.8%

A. O. Smith Corporation (NYSE:AOS) is ninth on our list of the best dividend aristocrat stocks with solid dividend growth. The American company specializes in the manufacturing and distribution of water heating equipment and water treatment products.

In the past five years, the company has raised its dividend annually by 10.8% and its overall dividend growth streak came in at 29 years. Moreover, the company has been making regular dividend payments for the past 83 consecutive years. It currently pays a quarterly dividend of $0.30 per share and has a dividend yield of 1.59%, as of July 25.

With a total stake value of $528 million, 28 hedge funds in Insider Monkey’s database owned positions in A. O. Smith Corporation (NYSE:AOS) in Q1 2023. In comparison, 26 hedge funds owned stakes in the company in the previous quarter.