Dividend Growth Stocks: 25 Aristocrats

10. Linde plc (NASDAQ:LIN)

5-Year Average Dividend Growth Rate: 9.27%

Linde plc (NASDAQ:LIN) has spent years building out practical hydrogen solutions, from efficient compression systems to safe refueling technology. It has also developed ways to cut hydrogen’s carbon footprint by pairing production with carbon capture and storage.

That work is already translating into large projects. In 2024, Linde reached an agreement to build a 100-megawatt renewable hydrogen plant for Shell in Germany, with commercial operations expected to start in 2027. A year later, in June 2025, the company signed a long-term contract to supply industrial gases to a $4 billion low-carbon ammonia facility now under construction in Louisiana. To support that deal, the company plans to invest $400 million in a new on-site facility, adding to its existing hydrogen and syngas infrastructure in the region.

Even with its early lead in hydrogen, Linde has taken a measured view of how quickly the market will grow. Management believes the technology still needs five to seven years to mature before more projects become fully economically viable. Until then, the company continues to invest selectively while preparing for broader adoption.

Clean energy remains a major priority. In 2023, Linde outlined plans to invest up to $50 billion in clean energy projects over the next decade. It is also expanding its global footprint, completing the acquisition of Airtec, one of the Middle East’s largest industrial gas companies, in September 2025.

On the shareholder side, Linde has built a strong track record. The company has raised its dividend for 31 consecutive years and has consistently paid out.

Linde plc (NASDAQ:LIN) is a UK-based industrial gases and engineering company that serves a wide range of end markets, including chemicals and energy, food and beverage, electronics, healthcare, manufacturing, metals, and mining.