No. 4 Dividend Achiever: Parker Hannifin Corp. (NYSE:PH)
Parker Hannifin is another cheap dividend achiever, trading at less than 15 times earnings.
As a manufacturer of motion and control technologies, it’s relatively under the radar. It has a 55-year streak of consecutive dividend increases and offers a 2.5% dividend yield.
Parker Hannifin has a wide distribution network and over 12,000 Parker stores, giving it a strong economic moat. It also has engineers in the field, providing an edge when it comes to offering maintenance and repairs to industrial distributors.
No. 5 Dividend Achiever: 3M Co. (NYSE:MMM)
The $87 billion company needs no introduction. It’s a diversified products company operating in the health care, industrial, office and electronics industries. However, over half its revenues are from high-margin consumables, which gives it an edge over other industrial companies.
It has upped its dividend for 56 years and offers investors a 2.9% dividend yield. And 3M has one of the highest returns on invested capital on our list of dividend achievers, coming in at over 25%.
All 19 of the dividend achievers that have been upping their dividends for more than 50 years have a great track record of rewarding shareholders. It’s a record that’s often overlooked and overshadowed by higher-yielding stocks.
This article is brought to you courtesy of Marshall Hargrave from Wyatt Research.