Investors like consistency when it comes to dividend growth. No companies have consistently paid growing dividends for 100 years or more. American States Water Company (AWR) is closest at 69 consecutive years of dividend increases.
However, thehistory of dividendsin the United States goes back to about 1781. Only one company has paid a dividend for over 200 straight years, making it the longest dividend-paying stock. However, a select group of stocks have distributed 100+ years of consistent dividends.
Paying a dividend for this length of time demonstrates the resiliency of the business and management’s commitment to delivering a consistent dividend. There are 25 U.S. companies on the list. After this article was published a few years ago, several more American companies already having paid 100+ years of consistent dividends were added. Also, we add to the list annually as new firms attain this target.
Before the companies are listed, please comment below if you know of any companies that belong on the list of stocks with 100+ years of consistent dividends or should be removed from the list.
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American Stocks Paying 100+ Years of Dividends
The York Water Company
The York Water Company (YORW) is the senior member of this club. The small water utility is the longest-paying dividend stock, having continuously paid dividends for over 200 years since the utility was founded in 1816. The forward dividend rate is $0.84 per share, and the forward dividend yield is about 2.29%. The dividend is covered by earnings with a payout ratio of roughly 51%. The company has a market capitalization of only ~$528 million. York Water most recently raised the quarterly dividend payout for the 26thconsecutive year of increases, making the stock a Dividend Champion.
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Stanley Black & Decker
Second on the list is Stanley Black & Decker (SWK), the hand-tool company. The company was founded in 1843, before the Civil War. Today, the company’s two business segments are Tool & Storage and Industrial. It divested the Security business. The continuous dividend history dates back to 1877. Stanley Black & Decker is also a Dividend King, having raised the dividend for 56 years. Theforward dividend rateis $3.34 per share, giving a forward yield of about 3.4%. The payout ratio is elevated because manufacturing and housing activity are depressed, causing cyclicality in the industrial business.
Exxon Mobil Corporation
Next on the list is Exxon Mobil (XOM), the oil and natural gas giant. Exxon Mobil traces its history back to John D. Rockefeller’s Standard Oil Trust, founded in 1870. The continuous dividend history dates back over 100 years to 1882. Exxon Mobil is a Dividend Champion and Dividend Aristocrat with 41 consecutive annual dividend increases. The pandemic was brutal for Exxon Mobil, with low oil prices capped off by very low demand. But demand recovered in 2022 and 2023, with oil prices soaring, and the company had excellent years. The forward dividend payout is $3.80 per share, and the forward dividend yield is 3.80%. The payout ratio is conservative at 35%.
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Eli Lilly and Company
Number four is Eli Lilly and Company (LLY), the large-cap pharma company founded in 1876. Eli Lilly is an R&D-focused pharma company. The continuous dividend has been paid 100+ consecutive years since 1885. The company is not a consistent dividend grower, with only ten years of dividend growth, making the stock a Dividend Contender. The forward dividend is $5.20 per share, giving a dividend yield of ~0.81%. The payout ratio is high at about 74%. The pharma giant’s success with obesity drugs has increased its market capitalization and made it one of thebiggest companies in the world.
Consolidated Edison
Consolidated Edison (ED) is the first electric utility on the list. The utility was founded in 1884. Today, Consolidated Edison is a regulated utility providing electricity to over 3.5 million customers and natural gas to over 1.1 million customers in New York City, southwestern New York, and northern New Jersey. The company started paying a consistent dividend over 100 years ago, in 1885. The company is also a Dividend Champion and Dividend Aristocrat with 49 consecutive years of dividend increases. The forward dividend is $3.24 per share, and the forward dividend yield is a decent 3.54%. Thepayout ratiois about 66%, which is prudent for a regulated utility.
UGI Corporation
UGI Corporation (UGI) is probably less well-known than the other companies on this list, but it was founded in 1882. It is a diversified energy company that operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. The company has approximately 1.5 million propane customers, 67,000 natural gas customers, and 62,500 electricity customers. UGI first paid a continuous dividend in 1885. The forward dividend is $1.50 per share, with a forward yield of roughly 6.3%. The payout ratio is conservative at 52%. The dividend has been raised for 36 straight years, making UGI a Dividend Champion.
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Johnson Controls International
Johnson Controls International plc (JCI) is next on the list. It was founded in 1885. The company was previously known for its automotive parts business, which was spun off. Johnson Controls manufactures HVAC, refrigeration, security systems, and fire detection and suppression systems today. The company has been paying dividends consecutively since 1887, making it a member of the 100+ years club. The forward annual dividend payout is $1.48 per share, and the forward yield is 2.63%. The payout ratio is moderately conservative at 42%. However, the company is not known for its dividend growth.
The Procter & Gamble Company
The Procter & Gamble Company (PG) is the 8thcompany on the list. The global consumer staples company traces its history back to 1837. Procter & Gamble operates in five segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The company has many well-known brands like Pantene, Tide, Oil of Olay, Old Spice, Secret, Head & Shoulders, Herbal Essences, Gillette, Braun, Crest, Mr. Clean, etc. The firm first paid a consecutive dividend in 1891 and has not stopped. Procter & Gamble is also a Dividend King, having raised the dividend for 68 straight years, one of the longest streaks. The forward dividend is $3.763 per share, and theestimated forward yieldis 2.5%. The payout ratio is not too high at about 60%. Many investors like this company because of its consistency and stability.
Related Articles About Procter & Gamble on Dividend Power
- Procter and Gamble (PG) Investor Relations Guide
Colgate-Palmolive Company
The Colgate-Palmolive Company (CL) is very similar to the one right before it on this list. It was founded back in 1806. Today, the company has three main market segments: Oral Care, Personal and Home Care, and Pet Nutrition. The company also has many well-known brands, including Colgate, Palmolive, Tom’s of Maine, Speed Stick, Softsoap, Irish Spring, Ajax, etc. Colgate-Palmolive started paying a consistent dividend in 1895, making it a member of the 100+ years club. The forward dividend rate is $1.92, and theforward yieldis 2.37%. The dividend payout ratio is near our cutoff at ~61%. The company is also a Dividend King with 61 years of consecutive dividend increases.
General Mills
General Mills (GIS) is a cereal and baking products giant tracing its founding back to 1866. Today, the company operates globally with well-known products and brands like Cheerios, Chex, Cascadian Farm, Bugles, Blue Buffalo, Betty Crocker, Bisquick, Annie’s, Fiber One, Taste Good, Pillsbury, Muir Glen, Progresso, Yoplait, Haagen-Dazs, Old El Paso, etc. General Mills started paying dividends continuously over 100 years ago in 1898. The forward dividend rate is $2.36, and the forward dividend yield is approximately 3.72%. The payout ratio has come down to about 51%. The company froze the dividend a few years after the Blue Buffalo acquisition but started raising it again in 2020 as it paid debt, improved the balance sheet, and the leverage ratio came down. The firm is now a Dividend Challenger with five years of increases.
Union Pacific Corporation
The only railroad on this list is Union Pacific Corporation (UNP). The company was founded in 1862. Today, it is the largest public railroad in North America, with almost 52,000 miles of rail in its network, 7,300+ locomotives, and 56,380 freight cars at the end of 2022. Most of the network is located in 23 states in the western two-thirds of America, and the railroad owns parts of a Mexican railroad. Union Pacific states that it has paid a consecutive dividend for 100+ successive years in its press release or back to 1898. The forward dividend is $5.20 per share, and the forward yield is 2.19%. The dividend payout ratio is prudently conservative at 51%. Union Pacific has raised the dividend for 17 years straight, making the stock a Dividend Contender.
PPG Industries
PPG Industries (PPG) is an industrial giant focusing on coatings. The name stands for Pittsburgh Plate Glass. The company was founded in 1883 and operates in two business segments: Performance Coatings and Industrial Coatings. PPG has been paying a consecutive dividend for over 100 years since 1899. The forward dividend rate is $2.60, and the forward yield is 1.79%. The dividend payout ratio is a conservative 34%, likely due to its business’s cyclicality. The company is also a Dividend King with 52 years of consecutive dividend increases.
Church & Dwight Co.
The 13thcompany on this list is another in the Consumer Defensive sector, Church & Dwight (CHD). The company was founded in 1846. Its most well-known brand is Arm & Hammer, but the company also owns OxiClean, Trojan, Nair, Spinbrush, First Response, Orajel, Waterpik, and others. Church & Dwight is much smaller than its Consumer Defensive sector peers on this list. It started paying a consecutive dividend in 1901. The forward dividend is $2.60, giving a forward dividend yield of 1.79%. The payout ratio is judicious at 34%. The firm has raised the dividend annually for 27 consecutive years, making it a Dividend Aristocrat and Dividend Champion.
Chubb Limited
Chubb Limited (CB) is the only insurer on this list. The company traces its history back to 1882. In 2015, ACE Limited, another insurance company founded in 1985, acquired Chubb and changed its name to Chubb. The original Chubb started paying a consecutive dividend in 1902. The forward dividend is $3.44 per share, giving a forward yield of 1.51%. The payout ratio is a very conservative 18% because of the volatility in insurance earnings. However, some investors may feel Chubb should be removed from the list since ACE Limited was the acquiring company. We will leave the new Chubb on this list.
National Fuel Gas Company
National Fuel Gas Company (NFG) is another utility on this list. The company was incorporated in 1902 from assets placed in John D. Rockefeller’s Standard Oil Trust. National Fuel Gas’ recent press releases indicate the utility started to pay a dividend since incorporation. Hence, we became aware that this stock should be in the club of companies paying a dividend consistently for 100+ years. The forward dividend payout is $1.98 per share, giving a forward yield of 3.93%. The payout ratio is about 38%, which is highly conservative for a utility. National Fuel Gas has raised the dividend for 53 years, making this stock a Dividend King.
DuPont de Nemours, Inc
DuPont de Nemours (DD) traces its history back to 1802. The company merged with Dow in 2015, forming DowDuPont, followed by a split into three companies: Corteva, Dow, and DuPont. The predecessor organization, E.I. Du Pont De Nemours, started paying a continuous dividend over 100+ years ago in 1904. The new DuPont’s forward dividend is $1.44 per share, giving a forward yield of 1.91%. The payout ratio is cautious at 40%. As far as we can determine, DuPont did not stop paying dividends after acquiring Dow or splitting into three companies. Since DuPont was the acquiring organization, we will keep DuPont de Nemours on this list.
Edison International
The second utility on this list is Edison International (EIX). The utility was founded in 1886. Today, it provides electricity for approximately 5 million customers in California. The utility has paid a dividend continuously for over 100+ years since 1910. The forward dividend is $3.12 per share, giving a forward yield of 4.37%. The payout ratio is acceptable for a utility at 64%. Edison International has raised the dividend for 21 straight years, making it a Dividend Contender.As a note about Edison International, after we published this article, a reader pointed out that the utility did not pay dividends from 2001 to 2003 on the common stock. However, it may have done so on the preferred shares. We will do some more research on this.
Simmons First National Corporation
Simmons First National Corporation (SFNC) is a regional bank in Arkansas, Texas, Oklahoma, Kansas, Missouri, and Tennessee. The bank was founded in Pine Bluff, AR, in 1903 with one branch. Today, the bank has over 200 financial centers (branches) with over $27 billion in assets. The bank has grown organically and through many acquisitions. According to the bank’s website, it has paid dividends since 1909. The forward annual dividend rate is $0.80 per share, and the forward dividend yield is 4.28%. The payout ratio is very conservative at about 42%. According toPortfolio Insight*. The bank has raised the dividend for 12 consecutive years, making the stock a Dividend Contender.
American Electric Power Company
American Electric Power Company (AEP) is the fourth utility on this list. It was founded in 1906 and has become one of the largest utilities in the United States. Today, it operates as a holding company through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments. AEP operates in Ohio, Texas, Virginia, West Virginia, Tennessee, Indiana, Michigan, Kentucky, Oklahoma, Arkansas, and Louisiana. The utility’s press releases state that AEP has paid a continuous cash dividend every quarter since July 1910. The forward dividend is $3.52, and the forward yield is about 4.32%. The payout ratio is a reasonable 66%. The company has also raised the dividend for 14 straight years, making the stock a Dividend Contender.
International Business Machines Corporation
International Business Machines Corporation (IBM) was founded in 1911. Today, it is a leading provider of enterprise IT solutions. IBM has three operating segments: Software, Consulting, and Infrastructure. IBM first paid a dividend in 1913, but the continuous streak started in 1916, making it over 100 years. The forward dividend rate is $6.64 per share, giving a forward yield of 4.0%. The payout ratio has been high but recently came down to about 71%. IBM joined the Dividend Aristocrat list in 2021. The company has paid a growing dividend for 28 consecutive years.
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- IBM Dividend Safety Analysis
- International Business Machines (IBM) Investor Relations Guide
Farmers & Merchants Bank of Long Beach
Farmers & Merchants Bank of Long Beach (FMBL) is the smallest company on this list. The market capitalization is only $652 million. It is one of two American banks on this list. The bank was founded in 1907 and has paid an unfailing dividend for 100+ years since 1916. The bank’s press release states that the quarterly dividend has never been decreased. The forward dividend is $112.00 per share, giving a forward dividend yield of 2.11%. The payout ratio is roughly 15.8%, which is highly conservative.
3M Company
According to its press releases announcing quarterly dividends, 3M Company (MMM) reportedly started paying dividends over 100 years ago. In addition, the FAQs page states that 3M has been paying dividends since 1916. The industrial giant owns recognizable global brands, including Post-it, Scotch, Scotch-Brite, ACE, Command, Filtrete, Nexcare, and Futuro. The company has paid a growing dividend for 65 straight years, making it a Dividend King. The forward dividend is $6.00 per share, giving a forward dividend yield of 5.55%. The payout ratio has risen to about 66% because of a challenging operating environment and legal costs related to PFAS and hearing aids.
Related Articles About 3M on Dividend Power
- 3M Company (MMM) Dividend Safety Analysis
GATX Corporation
GATX Corporation traces its history back to 1898. The company leases railcars and railway tank containers to customers in North America, Mexico, Europe, and India. At the end of 2022, it owned 144,000 railcars, almost 550 locomotives, and 22,000 tank containers. Additionally, the firm leases spare aircraft jet engines in a partnership with Rolls-Royce. The firm has paid dividends since 1919 and is in the 100+ year club. Also, GATX has raised the dividend for 13 years, making the stock a Dividend Contender. The forward dividend yield is 1.88%, with a cautious payout ratio of 31%.
The Coca-Cola Company
Coca-Cola (KO), founded in 1886, is a recent entrant to this exclusive club. The global non-alcoholic beverage giant owns many top brands including Coca-Cola, Diet co*ke, Sprite, Minute Maid, Fanta, Fresca, Schweppes, Dasani, Thums Up, Fuze Tea, Gold Peak, Honest Tea, etc. Coca-Cola started paying a consistent dividend in 1920 and entered the 100+ consecutive years club in 2020. The forward dividend is $1.84 per share, and the forward yield is 3.05%. The payout ratio is elevated at about 69%. However, the reliable revenue, earnings, and cash flow add to the dividend safety. Coca-Cola is a Dividend King with 61 straight years of dividend growth.
Related Articles About Coca-Cola on Dividend Power
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The Timken Company
Timken (TKR) was added to the 100 years of dividends club in 2022. The firm was founded in 1899. It was listed on the New York Stock Exchange in 1922 when the firm started to pay dividends. Timken designs and manufactures engineered bearings and industrial motion products. The company’s brand names are Timken, Philadelphia Gear Drives, Cone Drive, Rollon, Lovejoy, Diamond, BEKA, and Groeneveld. The forward dividend yield is 1.68% based on a dividend rate of $1.32. The company is a Dividend Contender with ten years of increases in a row. The payout ratio is highly conservative at 19%.
Abbott Laboratories
Abbott Laboratories (ABT) is the most recent equity to make this list. The firm was founded in 1888. According to the recent dividend announcement, it started paying dividends in 1924 and has done so for 400 consecutive quarters. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The forward dividend rate is $2.20, giving a 1.93% yield. The payout ratio is moderate at 48%. After accounting for divesting the pharmaceutical business into AbbVie (ABBV), Abbott has paid a growing dividend payment for 52 years in a row.
Other Dividend Stock Lists
I have also written articles with several other lists and analyses on U.S. dividend growth stocks, including:
- List of Dividend Kings in 2023
- List of Dividend Aristocrats in 2023
- List of Dividend Champions in 2023
- List of Dividend Contenders in 2023
- List of Dividend Challengers in 2023
- Dogs of the Dow in 2024
For Canadian stocks, we have written about
- List of Canadian Dividend Aristocrats in 2023
For UK stocks, we have written about
- UK High Yield Dividend Aristocrats in 2023
Final Thoughts on Stocks Paying 100+ Years of Dividends
The list of longest dividend-paying companies having attained 100+ years of consecutively paying dividends is short and select. There are only 25 American companies that have done so. This is about 0.42% of the over 6,000 companieslistedon American stock exchanges (NYSE and NASDAQ). This percentage makes the list even more selective than the Dividend Kings or Canadian Dividend Aristocrats. Interestingly but not surprisingly, many of the companies on this list are also dividend growth stocks, and a few are Dividend Kings. This list serves as a starting point for further research.
Related Articles on Dividend Power
- Canadian Stocks Paying 100+ Years of Dividends
- Dividend Growth Investing Strategy: What Is It?
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Prakash Kolli
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Prakash Kolli is the founder of the Dividend Power site. He is a self-taught investor, analyst, and writer on dividend growth stocks and financial independence. His writings can be found on Seeking Alpha, InvestorPlace, Business Insider, Nasdaq, TalkMarkets, ValueWalk, The Money Show, Forbes, Yahoo Finance, and leading financial sites. In addition, he is part of the Portfolio Insight and Sure Dividend teams. He was recently in the top 1.0% and 100 (73 out of over 13,450) financial bloggers, as tracked by TipRanks (an independent analyst tracking site) for his articles on Seeking Alpha.
