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All I Want for Christmas Are Dividend Aristocrats

publication date: Dec 25, 2020
author/source: Valuentum Analysts

Image Source: Five Furlongs

It may not be as catchy as Mariah Carey's Christmas hit, "All I Want For Christmas Is You," but if you ask a dividend growth investor what they might want for Christmas as it relates to an investment, they might start singing about a long list of Dividend Aristocrats--a list of companies that have increased their dividends in each of the past 20-25+ years. Therefore, we wanted to do something special this Christmas for members.

We've aggregated a list of every non-financial Dividend Aristocrat in our 16-page stock report coverage universe and made a list conveniently available below, including some key data and links directly to their 16-page stock reports (pdf). To access the 16-page stock report of any company on this list, just click on its name, and you'll be prompted to download that particular company's 16-page stock report pdf file. Remember, we provide separate Dividend Reports for stocks, too.

For example, the 16-page stock report pdf file that is linked to a company's name below is only a portion of our research, commentary, ratings and data on that particular company. Let's take Emerson Electric as an example. Not only does it have a 16-page Stock Report and additional Valuentum commentary via articles and notes, but it also has a Dividend Report. Both pdf reports can be downloaded on its stock web page here (the pdf icons are to the right of the stock chart). 

We hope you enjoy the vast amount of research connected to the download links on this list. Each company's fair value estimate, Dividend Cushion ratio, Economic Castle rating and much more is backed by a three-stage discounted cash flow process, with fully populated financial statements, available by request from Gold and Platinum members. Please download away. What's your favorite Dividend Aristocrat? Comment below.


Company Name Symbol Industry Est. Dividend Yield Dividend Cushion Ratio Economic Castle
AbbVie ABBV Health Care  5.1% 1.3 Very Attractive
Abbott ABT Health Care  1.3% 2.8 Attractive
Archer-Daniels-Midland ADM Recession Resistant 2.9% 2.1 Attractive
Automatic Data Processing ADP Technology Giants 2.1% 2.0 Highest Rated
Albemarle ALB Mining & Chemicals 1.0% 0.5 Attractive
AO Smith Corp AOS Industrial Leaders 1.9% 3.2 Attractive
Air Products & Chemicals APD Mining & Chemicals 2.0% 0.9 Attractive
AptarGroup ATR Mining & Chemicals 1.1% 2.3 Attractive
Becton, Dickinson BDX Health Care  1.3% 2.0 Attractive
Casey's General CASY Recession Resistant 0.8% 1.1 Attractive
Caterpillar CAT Industrial Leaders 2.4% 1.9 Attractive
Church & Dwight CHD Recession Resistant 1.1% 2.7 Attractive
Colgate-Palmolive CL Recession Resistant 2.2% 1.4 Attractive
Clorox CLX Recession Resistant 2.0% 1.6 Very Attractive
Carlisle Companies CSL Mining & Chemicals 1.3% 2.7 Neutral
Cintas Corp CTAS Discretionary  1.0% 2.0 Very Attractive
Chevron CVX Oil & Gas Complex 7.1% 0.7 Neutral
Dover DOV Industrial Leaders 1.6% 1.9 Attractive
Ecolab ECL Mining & Chemicals 0.9% 2.4 Attractive
Emerson Electric EMR Industrial Leaders 2.5% 1.9 Attractive
Expeditors Intl EXPD Industrial Leaders 1.1% 4.9 Very Attractive
Fastenal FAST Industrial Leaders 2.1% 1.5 Attractive
Federal Realty FRT REIT - Retail 5.4% 0.5 Neutral
H.B. Fuller FUL Mining & Chemicals 1.2% -4.8 Attractive
General Dynamics GD Industrial Leaders 2.9% 0.9 Attractive
Graco GGG Mining & Chemicals 1.0% 3.1 Very Attractive
Genuine Parts GPC Discretionary  3.2% 1.1 Attractive
W.W. Grainger GWW Industrial Leaders 1.5% 2.7 Attractive
Hormel Foods HRL Recession Resistant 1.8% 2.1 Attractive
IBM IBM Technology Giants 5.3% 0.6 Attractive
Illinois Tool Works ITW Industrial Leaders 2.3% 1.2 Very Attractive
Johnson & Johnson JNJ Health Care  2.8% 2.1 Attractive
Kimberly-Clark KMB Recession Resistant 2.8% 1.1 Attractive
Coca-Cola KO Recession Resistant 3.3% 1.0 Attractive
Lancaster Colony LANC Recession Resistant 1.7% 2.2 Attractive
Leggett & Platt LEG Discretionary  3.8% -0.1 Attractive
Lowe's LOW Discretionary  1.4% 2.3 Attractive
McDonald's MCD Discretionary 2.2% 0.3 Attractive
Medtronic MDT Health Care 2.2% 1.8 Attractive
McCormick MKC Recession Resistant 1.5% 1.1 Attractive
3M MMM Industrial Leaders 3.4% 1.0 Attractive
Nucor NUE Mining & Chemicals 3.0% 1.3 Attractive
Realty Income Corp O REIT - Retail 4.6% 0.7 Neutral
PepsiCo PEP Recession Resistant 2.9% 0.9 Attractive
Procter & Gamble PG Recession Resistant 2.2% 1.8 Attractive
Parker-Hannifin PH Industrial Leaders 1.3% 1.9 Attractive
Pentair PNR Industrial Leaders 1.6% 2.7 Very Attractive
PPG Industries PPG Mining & Chemicals 1.5% 2.5 Attractive
Roper Technologies ROP Industrial Leaders 0.5% 4.5 Very Attractive
Raytheon Tech RTX Industrial Leaders 2.6% 1.9 Attractive
Sherwin-Williams SHW Mining & Chemicals 0.7% 2.1 Attractive
Smucker SJM Recession Resistant 3.0% 0.3 Attractive
Sonoco SON Mining & Chemicals 2.9% 1.1 Attractive
Stanley Black & Decker SWK Industrial Leaders 1.6% 2.6 Attractive
Sysco SYY Recession Resistant 2.4% 0.9 Attractive
AT&T T Telecom Services 7.1% -0.1 Attractive
Target TGT Recession Resistant 1.6% 2.7 Attractive
VF Corp VFC Discretionary 2.3% 1.7 Attractive
Walgreens Boots Alliance WBA Health Care  5.0% 0.5 Attractive
Wal-Mart WMT Recession Resistant 1.5% 2.2 Attractive
Exxon Mobil XOM Oil & Gas Complex 10.2% 0.1 Attractive


Table notes: Stocks with Valuentum 16-page stock reports that are included in either the ProShares S&P 500 Dividend Aristocrats ETF or the S&P 500 High Yield Dividend Aristocrats Index. Estimated dividend yield is based on the company's estimated annualized forward rate of dividends divided by its current share price. The Dividend Cushion ratio is a proprietary Valuentum measure that drives our assessment of the company's Dividend Safety rating. The forward-looking measure assesses dividend coverage via the cash characteristics of the business. The Dividend Cushion is a ratio that sums the existing net cash (total cash less total long-term debt) a company has on hand (on its balance sheet) plus its expected future free cash flows (cash from operations less all capital expenditures) over the next five years and divides that sum by future expected cash dividends (including expected growth in them, where applicable) over the same time period. The Economic Castle rating assumes that 'economic profit' (as measured by ROIC less WACC) is the primary factor in assessing the value that a company generates for shareholders. Whereas an economic moat assessment evaluates a firm on the basis of the sustainability and durability of its economic value creation stream, Valuentum's Economic Castle rating evaluates a company on the basis of the magnitude of the economic profit that it will deliver to shareholders (as measured by its ROIC-less-WACC spread). Stocks with the best Valuentum Economic Castle ratings are poised to generate the most economic value for shareholders regardless of their competitive positions. 


In our 16-page equity research reports, we offer a fair value estimate for each company based on a rigorous and transparent discounted cash flow process, assess the attractiveness of a stock based on a firm-specific margin of safety, and provide a relative valuation comparison in the context of the company’s industry and peers. Each report includes detailed pro forma financial statements, explicit fundamental forecasts, and scenario analysis. A cross section of the ValueCreation and ValueRisk ratings provides a financial assessment of a company’s business quality (competitive position), while the ValueTrend and Economic Castle ratings offer insight into the trajectory of a firm’s economic profit creation (ROIC versus WACC). Included in each 16-page report is a company's rating on the Valuentum Buying Index (VBI), a methodology that combines rigorous financial and valuation analysis with an evaluation of a firm's technicals and momentum indicators to derive a score between 1 and 10 for each company (10=best). We believe the VBI methodology helps identify the most attractive stocks at the best time to consider buying, helping to avoid value traps and lagging performance due to the opportunity cost of holding a stock with great potential but at an inopportune time. The Best Ideas Newsletter portfolio puts the VBI into practice. Read more about the Valuentum Buying Index rating system, "Value and Momentum Within Stocks, Too." Members can access our 16-page company research reports, generally updated on a quarterly basis by using our 'Symbol' search box in our website header.

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