In this article, we will take a look at some of the best dividend growth stocks for long-term investors.
Dividend stocks have long been popular among investors, though in recent years, they’ve taken a back seat to high-growth companies. Still, many long-term investors continue to see their value, as consistent dividend growth can provide lasting benefits.
Firms that regularly increasing payouts are often viewed as financially sound, with stable or improving competitive positions. Historically, dividend growth stocks also tend to be less volatile than the broader market, which has made them a favorite among investors seeking steady returns.
Morningstar recently noted that dividend growth strategies have offered smoother performance compared to the overall market. While not always synonymous with “quality,” these stocks still represent a solid, defensive investment option. For risk-conscious investors, companies that steadily raise their dividends remain a practical and appealing way to participate in the equity market. Given this, we will take a look at some of the best dividend aristocrat stocks to invest in.
Our Methodology
For this article, we scanned the list of dividend aristocrats, which are the companies that have raised their payouts for 25 consecutive years or more. From that list, we picked 15 companies with dividend yields above 2%, as of October 12. The stocks are ranked according to their dividend yields.
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15. Aflac Incorporated (NYSE:AFL)
Dividend Yield as of October 12: 2.09%
An American insurance company, Aflac Incorporated (NYSE:AFL), mainly focuses on supplemental health and life insurance. The Japanese market plays a vital role in Aflac’s overall performance, contributing a substantial share of its earnings. In the second quarter of 2025, Aflac Japan reported net earned premiums of ¥254.6 billion. The company recorded a 23.2% year-over-year increase in sales, supported by strong premium persistency. Much of this growth was driven by the success of its new cancer insurance product, Miraito.
Aflac Incorporated (NYSE:AFL) continues to prioritize innovation, product development, and the expansion of its distribution network through strategic partnerships. The company’s current focus lies in strengthening its distribution channels and enhancing its product portfolio to align with changing customer needs. Success for the company depends on its ability to develop competitive products, deepen market penetration, and effectively manage regulatory requirements across both Japan and the United States.
In addition to its global presence, Aflac Incorporated (NYSE:AFL) is widely known because of its status as one of the best dividend aristocrat stocks. The company has been rewarding shareholders with growing dividends for the past 42 years and currently pays a quarterly dividend of $0.58 per share. As of October 12, the stock has a dividend yield of 2.09%.
14. Cincinnati Financial Corporation (NASDAQ:CINF)
Dividend Yield as of October 12: 2.19%
Maintaining and increasing dividend payments through economic downturns is a rare accomplishment, achieved only by companies with reliable income streams and solid financial discipline. Cincinnati Financial Corporation (NASDAQ:CINF) stands out as one such company, having raised its dividend every year since 1960.
With a history that stretches back more than a century, Cincinnati Financial Corporation (NASDAQ:CINF) has built a strong presence in the US insurance industry. The company provides property and casualty coverage through a wide network of independent agents and also offers life insurance and specialty policies for higher-risk or unusual cases. It’s agent-driven model is one of its key advantages, fostering long-term relationships with local agencies and policyholders, which has helped sustain consistent growth over the years.
Even during recessions, Cincinnati Financial Corporation (NASDAQ:CINF) has continued to raise its dividend, though sometimes modestly, to maintain its track record. This consistency highlights the company’s solid financial position and careful cash management, qualities that few insurers can match during economic slowdowns.
The insurer’s 65-year streak of consecutive dividends increases reflects its conservative underwriting approach and management’s focus on long-term stability. Another factor supporting this achievement is its disciplined payout ratio, which provides a comfortable safety buffer and ensures the sustainability of its dividend policy. Cincinnati Financial Corporation (NASDAQ:CINF) currently offers a quarterly dividend of $0.87 per share and has a dividend yield of 2.19%, as of October 12.
13. PPG Industries, Inc. (NYSE:PPG)
Dividend Yield as of October 12: 2.88%
PPG Industries, Inc. (NYSE:PPG) is a leading supplier of paints, coatings, and specialty materials, serving a wide range of industries including construction, consumer goods, industrial manufacturing, transportation, and aftermarket services.
In recent years, the company has invested billions in acquisitions to fuel its next phase of growth. While PPG Industries, Inc. (NYSE:PPG) aims to maintain a balanced capital allocation approach, it remains willing to make sizable acquisitions when the right opportunities arise. The company has also devoted a significant portion of its cash toward share repurchases, a move that has contributed meaningfully to its earnings-per-share growth over time.
Acquisitions have long been central to PPG Industries, Inc. (NYSE:PPG)’s expansion strategy, though they have also added to its debt levels. Today, the company operates almost entirely as a coatings-focused business, having moved away from its traditional glass and chemical operations. This transition has left the company with a streamlined coatings portfolio that has delivered stronger margins in recent years.
Due to these strategic shifts, PPG Industries, Inc. (NYSE:PPG) was able to maintain its dividend policy over the years. The company has been increasing its dividends for 54 consecutive years, which makes it one of the best dividend aristocrat stocks. With a quarterly dividend of $0.87 per share, PPG has a dividend yield of 2.88%, as of October 12.
12. Medtronic plc (NYSE:MDT)
Dividend Yield as of October 12: 2.98%
Medtronic plc (NYSE:MDT) stands as the world’s largest producer of biomedical devices and implantable technologies. The company operates through four main segments: Cardiovascular, Neuroscience, Medical Surgical, and Diabetes.
Medtronic plc (NYSE:MDT) continues to pursue growth through both internal innovation and strategic acquisitions. Its strong focus on research and development fuels organic expansion, while targeted acquisitions further strengthen its portfolio. The company also sees significant growth potential in emerging markets, with an established presence in regions such as China, India, and Africa, markets characterized by large populations and rapidly expanding economies.
Revenue from these emerging markets has been growing at a double-digit pace for several years, outpacing the growth rate in the United States, which currently contributes just over half of Medtronic plc (NYSE:MDT)’s total revenue. In fact, in fiscal Q2 2025, the company recorded revenue of $4.2 billion from its US operations, while international markets contributed $4.3 billion.
Since 2021, Medtronic plc (NYSE:MDT) has completed nine smaller, tuck-in acquisitions worth more than $3.3 billion, reflecting its commitment to expanding its capabilities and product offerings. The company’s key competitive strength lies in its robust research and development program, with annual R&D spending consistently exceeding $2 billion. This investment has been central to its ability to deliver continuous product innovation and maintain its leadership in the medical technology space.
Moreover, Medtronic plc (NYSE:MDT)’s dividend growth continues to draw investor interest. The company has increased its dividend for 48 consecutive years, underscoring its financial stability and shareholder-focused approach. Currently, it offers a quarterly dividend of $0.71 per share and has a dividend yield of 2.98%, as of October 12.
11. Genuine Parts Company (NYSE:GPC)
Dividend Yield as of October 12: 3.16%
Genuine Parts Company (NYSE:GPC) operates the largest global network for automotive parts, with over 10,800 locations worldwide. As a leading distributor of automotive and industrial components, the company has a long history of acquiring smaller businesses both in the US and abroad to strengthen its market presence and enter new segments.
While supply chain disruptions remain one of the key challenges for the broader economy following the pandemic, Genuine Parts Company (NYSE:GPC) has managed to navigate these difficulties relatively well. As economic conditions improve, the company’s performance has continued to recover.
Genuine Parts Company (NYSE:GPC) stands out for its remarkable record of dividend growth, having raised its dividend for 69 consecutive years— one of the longest streaks in the market. This consistent performance reflects its strong brand position and the steady expansion of the auto parts industry. With an aging global vehicle fleet, the company is well-positioned for continued growth in the years ahead. The company’s quarterly dividend comes in at $1.03 per share and has a dividend yield of 3.16%, as of October 12.
10. Consolidated Edison, Inc. (NYSE:ED)
Dividend Yield as of October 12: 3.32%
Consolidated Edison, Inc. (NYSE:ED) provides electricity, gas, and steam services to customers across the New York City region. The company supplies power to around 3.7 million electric and 1.1 million gas customers, while also operating the largest steam system in the United States.
Analysts expect Consolidated Edison, Inc. (NYSE:ED) to deliver consistent earnings growth over the coming years, supported by new customer additions and regular rate increases, alongside the steady recovery of the US economy. Its main growth drivers remain customer expansion and regulated rate hikes. Operating in a regulated sector gives ConEd the advantage of being able to periodically adjust its rates, ensuring stable and predictable revenue growth. The company projects an average annual rate base increase of more than 8% through 2029, which should translate into steady earnings improvement. However, rising interest rates pose a potential risk, as they can raise borrowing costs for debt-heavy utilities.
Despite such challenges, Consolidated Edison, Inc. (NYSE:ED) stability and consistent performance have strongly supported its dividend growth over the years. The company has never missed a dividend since 1885 and has raised its payouts for 51 years in a row. It currently offers a quarterly dividend of $0.85 per share and has a dividend yield of 3.32%, as recorded on October 12.
9. Exxon Mobil Corporation (NYSE:XOM)
Dividend Yield as of October 12: 3.58%
Global energy demand is reaching record levels and continues to rise. Economic growth, along with emerging drivers such as artificial intelligence (AI), is expected to keep oil demand increasing through 2030, while natural gas consumption is forecasted to grow by more than 20% by 2040. At the same time, the shift towards cleaner energy sources is gathering pace.
This environment favors Exxon Mobil Corporation (NYSE:XOM), one of the world’s leading energy companies. The firm is well-positioned to deliver solid earnings and cash flow growth through the end of the decade. Its expanding investments in lower-carbon initiatives also strengthen its ability to meet evolving energy needs.
Exxon Mobil Corporation (NYSE:XOM)’s roadmap through 2030 includes roughly $140 billion in capital spending over the next five years, focused on major development projects and its operations in the Permian Basin. The company expects these investments to yield lifetime returns exceeding 30%. With current oil prices, the company aims to boost its annual earnings capacity by $20 billion and its cash flow by $30 billion by 2030, representing compound annual growth rates of 10% and 8%, respectively. Such figures are impressive for a company of its scale.
As earnings and cash flow continue to expand, Exxon Mobil Corporation (NYSE:XOM) is positioned to generate substantial excess cash, supporting its ability to maintain and grow its dividends over time. The company has already grown its dividends for 42 consecutive years, which makes XOM one of the best dividend aristocrat stocks. The company offers a quarterly dividend of $0.99 per share and has a dividend yield of 3.58%, as of October 12.
8. Essex Property Trust, Inc. (NYSE:ESS)
Dividend Yield as of October 12: 4.02%
Essex Property Trust, Inc. (NYSE:ESS) is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages apartment communities. Its portfolio is concentrated in major metropolitan areas across Northern and Southern California and the Seattle region— markets known for their limited housing supply and strong rental demand.
Essex Property Trust, Inc. (NYSE:ESS)’s focus on the West Coast is driven by favorable long-term rental dynamics. These regions boast strong economic output and healthy job growth, both of which sustain high housing demand. Moreover, the high cost of single-family homes in these markets makes renting a more appealing option for many residents. With limited available land and lengthy, expensive construction processes, new housing supply remains constrained, further supporting the rental market.
Essex Property Trust, Inc. (NYSE:ESS) benefits from its large scale and experienced management team, which has a proven record of enhancing shareholder value through disciplined operations and strategic investments. It’s consistent and growing dividend serves as a clear reflection of that strength. The company has raised its dividends for 31 years in a row, and currently pays a quarterly dividend of $2.57 per share. As of October 12, the stock has a dividend yield of 4.02%.
7. The Clorox Company (NYSE:CLX)
Dividend Yield as of October 12: 4.13%
The Clorox Company (NYSE:CLX) traces its roots back more than a century, with its signature liquid bleach first introduced in 1913. Today, the company has evolved into a global producer of consumer and professional products, offering a wide range of brands that cater to diverse markets and customer needs. Its broad portfolio gives Clorox significant scale and a strong presence across multiple product categories.
The Clorox Company (NYSE:CLX) maintains its leadership position through substantial advertising efforts, continuously investing in brand visibility and customer loyalty. In fiscal 2026, the company expects to spend roughly 11% of its net sales on advertising and promotions, underscoring its commitment to supporting its brands and sustaining market strength.
A key advantage of The Clorox Company (NYSE:CLX)’s business model is the everyday nature of its products, which are used by millions of consumers regardless of economic conditions. The company estimates that its products can be found in approximately nine out of ten U.S. households.
Because demand for cleaning supplies and food products remains steady even during economic downturns, The Clorox Company (NYSE:CLX) has been able to maintain profitability through various cycles. This resilience has also enabled the company to steadily increase its dividend over the years. Its dividend growth streak currently spans 22 years, and the company offers a quarterly dividend of $1.24 per share. The stock has a dividend yield of 4.13%, as of October 12.
6. Eversource Energy (NYSE:ES)
Dividend Yield as of October 12: 4.16%
Eversource Energy (NYSE:ES) provides electricity, natural gas, and water services to around 4.6 million customers across Connecticut, Massachusetts, and New Hampshire. As a regulated utility, the company operates under federal and state oversight, with service rates determined through regulatory proceedings that ensure cost recovery. While Eversource doesn’t own power generation assets, it manages energy supply through contracts and procurement to meet customer demand.
Eversource Energy (NYSE:ES) is moving forward with its updated investment plan of $23.7 billion for the 2024–2028 period, focusing on projects in transmission and electric distribution. The company expects to achieve earnings-per-share growth of 5% to 7% annually during this time, in line with its dividend growth goals.
Operating in a regulated sector provides the company with stability and predictable cash flows, making its earnings relatively consistent. This steady business model also helps Eversource Energy (NYSE:ES) remain resilient during economic downturns, allowing it to continue growing its dividends even through recessions. The company has raised its payouts for 25 consecutive years, which makes it one of the best dividend aristocrat stocks. Its quarterly dividend sits at $0.7525 per share for a dividend yield of 4.16%, as of October 12.
5. Kimberly-Clark Corporation (NASDAQ:KMB)
Dividend Yield as of October 12: 4.22%
Kimberly-Clark Corporation (NASDAQ:KMB) operates as a global consumer goods company, selling everyday disposable products such as diapers, tissues, and paper towels across 175 countries. Its revenue mainly comes from its well-known brands, distributed through supermarkets, large retailers, and online platforms worldwide.
A key focus for future growth lies in expanding its presence across developing and emerging markets, which already make up a substantial share of its total sales. Kimberly-Clark Corporation (NASDAQ:KMB) plans to strengthen its personal care and professional segments, particularly in regions where product usage and market penetration remain relatively low. Alongside this, the company continues to implement cost-saving initiatives and share repurchase programs, both of which have contributed to higher earnings per share.
As a leading name in the consumer staples industry, Kimberly-Clark Corporation (NASDAQ:KMB) benefits from steady demand for its products regardless of economic conditions. Although its growth outlook is modest, the company remains a dependable choice for income-focused and risk-averse investors. This year, the company achieved its 53rd consecutive annual dividend hike, which makes it one of the best dividend aristocrat stocks. The company offers a quarterly dividend of $1.26 per share and has a dividend yield of 4.22%, as recorded on October 12.
4. Chevron Corporation (NYSE:CVX)
Dividend Yield as of October 12: 4.59%
Chevron Corporation (NYSE:CVX) operates as an integrated energy company, meaning it’s involved in every major stage of the oil and gas value chain. Its upstream operations focus on producing oil and natural gas, the midstream segment handles transportation, and the downstream division refines these resources into end products like gasoline and chemicals. Each part of the business performs differently depending on the phase of the energy cycle.
Chevron Corporation (NYSE:CVX) has developed one of the most durable portfolios in the energy sector, with production costs among the lowest in the industry— around $30 per barrel this year. This cost efficiency allows the company to maintain healthy cash flows even when oil prices are subdued. Recently completed expansion projects, ongoing cost-cutting efforts, and the Hess merger are expected to add up to $12.5 billion in annual free cash flow starting next year. The Hess acquisition has also strengthened Chevron’s long-term outlook, extending its production and cash flow growth well into the 2030s.
At the same time, Chevron Corporation (NYSE:CVX) is making headway in low-carbon energy ventures, including its recent move into the lithium business, which is expected to further support the company’s already rising dividend profile. CVX has been rewarding investors with growing dividends for the past 38 consecutive years. It currently offers a quarterly dividend of $1.71 per share for a dividend yield of 4.59%, as of October 12.
3. Federal Realty Investment Trust (NYSE:FRT)
Dividend Yield as of October 12: 4.73%
Federal Realty Investment Trust (NYSE:FRT) is a real estate investment trust that owns and operates strip malls and mixed-use properties. The company focuses on acquiring premium shopping centers in prime metropolitan areas and redeveloping them to enhance their appeal for both shoppers and tenants. Its projects include the addition of roughly 3,100 residential units, as well as hotels and office spaces, which have helped diversify its income sources and offset the effects of growing e-commerce trends.
By maintaining a portfolio of high-quality assets in key markets, Federal Realty Investment Trust (NYSE:FRT) has managed to steadily grow its dividend over time. The company’s prudent payout ratio and solid balance sheet provide it with the flexibility to both sustain its dividend and continue investing in portfolio expansion.
On August 6, Federal Realty Investment Trust (NYSE:FRT) declared a 3% hike in its quarterly dividend to $1.13 per share. Through this increase, the company extended its dividend growth streak to 58 years, which makes FRT one of the best dividend aristocrat stocks to invest in. As of October 12, the stock offers an attractive dividend yield of 4.73%.
2. Target Corporation (NYSE:TGT)
Dividend Yield as of October 12: 5.33%
Target Corporation (NYSE:TGT) operates as a large retail chain offering a wide range of products, from groceries to home essentials, while maintaining an emphasis on a more refined shopping experience. However, this premium positioning has left it somewhat misaligned with today’s consumers, who are increasingly shifting toward budget-friendly retailers.
Target Corporation (NYSE:TGT)’s partnerships with celebrities and well-known brands have helped it stand out, offering exclusive collections in categories such as beauty and apparel. This strategy has allowed the company to carve out a profitable niche, which has also supported a 68% increase in its dividend payments over the past five years.
In June, Target Corporation (NYSE:TGT) announced its 54th consecutive dividend hike, raising the annual payout by 2% to $4.56 per share. With a dividend yield of around 5.33%, which is well above the S&P 500 average of roughly 1.2%, TGT continues to appeal to income-focused investors. The company’s quarterly dividend comes in at $1.14 per share.
1. Realty Income Corporation (NYSE:O)
Dividend Yield as of October 12: 5.55%
Realty Income Corporation (NYSE:O) ranks among the largest real estate investment trusts (REITs) in the market. The company holds a well-diversified property portfolio that spans retail, industrial, gaming, and other sectors, with most properties leased to some of the world’s most recognized corporations. Its net lease model ensures consistent and predictable rental income.
Realty Income Corporation (NYSE:O)’s solid property mix is backed by a strong balance sheet, giving it the financial strength to steadily grow both its portfolio and dividend payments. The company distributes about 75% of its adjusted funds from operations as dividends, which is relatively conservative for a REIT. This approach enables it to reinvest the remaining cash into acquiring additional income-producing properties. The company also maintains one of the most robust balance sheets in the REIT industry, further supporting its expansion plans.
Realty Income Corporation (NYSE:O) has established an impressive dividend track record over the years. By October 2025, the company had increased its dividend 132 times since its public debut in 1994, marking 112 consecutive quarterly raises and 30 straight years of growth. Since going public, it has delivered an average annual dividend growth rate of 4.2%. The company offers a monthly dividend of $0.2695 per share for a dividend yield of 5.55%, as of October 12.
While we acknowledge the potential of O to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than O and that has 100x upside potential, check out our report about this cheapest AI stock.
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