Dividend Growth Stocks: 25 Aristocrats

3. Lowe’s Companies Inc. (NYSE:LOW)

5-Year Average Dividend Growth Rate: 15.61%

On January 20, TD Cowen lifted its price target on Lowe’s Companies Inc. (NYSE:LOW) to $295 from $250 and kept a Hold rating. The move was part of a broader reset across the hardlines group. Within that space, TD Cowen named Planet Fitness as its top pick, followed by Home Depot and O’Reilly Automotive.

Lowe’s may not grab headlines as an exciting stock, but it stands out for investors who value steady dividend growth. The company has increased its dividend almost every year since going public in 1961, and over the past decade alone, the payout has climbed more than 300%.

Concerns about a housing slowdown may also be overstated. When housing supply is tight and buying a home becomes more difficult, homeowners often shift their spending toward improving what they already own. That dynamic tends to support demand for home improvement projects. While near-term changes in consumer spending can slow renovation activity, any cyclical pressure is likely to ease over time, allowing growth to resume.

Lowe’s Companies Inc. (NYSE:LOW) operates as a broad-based home improvement retailer, offering products for construction, maintenance, repair, remodeling, and home decoration.