Article updated on October 3rd, 2025 by Bob Ciura
Spreadsheet data updated daily
The Dividend Aristocrats represent a prestigious group of 69 S&P 500 stocks that have achieved 25 or more consecutive years of dividend increases. These stocks are often regarded as the ‘best of the best’ in the realm of dividend growth, boasting a long history of market outperformance.
To qualify as a Dividend Aristocrat, a stock must meet the following criteria:
- Be a constituent of the S&P 500
- Have a minimum of 25 consecutive years of dividend increases
- Fulfill specific size and liquidity requirements
Currently, there are 69 Dividend Aristocrats. You can download an Excel spreadsheet containing all 69 stocks, along with essential metrics such as dividend yields and price-to-earnings ratios, by clicking the link below:
Disclaimer: Sure Dividend is not affiliated with S&P Global. S&P Global owns and maintains The Dividend Aristocrats Index. The information in this article and downloadable spreadsheet is based on Sure Dividend’s own review and analysis of the S&P 500 Dividend Aristocrats ETF (NOBL) and other sources. For official information, consult S&P Global.
Note 1: On January 24th, 2025, Erie Indemnity (ERIE), Eversource Energy (ES), and FactSet Research System (FDS) were added to the list, maintaining a total of 69 Dividend Aristocrats.
Source: S&P News Releases.
You can find detailed analyses of all 69 Dividend Aristocrats in our Dividend Aristocrats In Focus Series, which includes insights on valuation, growth, and competitive advantages.
Table of Contents
How to Use The Dividend Aristocrats List To Find Dividend Investment Ideas
The downloadable Dividend Aristocrats Excel Spreadsheet includes the following metrics for each stock:
- Price-to-earnings ratio
- Dividend yield
- Market capitalization
All Dividend Aristocrats are high-quality businesses, as evidenced by their long histories of dividend payments. A company that can consistently increase dividends for 25 years must possess a strong competitive advantage.
However, not all Dividend Aristocrats are equally attractive investments at any given time. This is where the spreadsheet becomes invaluable, allowing you to quickly identify quality dividend investment opportunities.
The list serves as a concise reference for all S&P 500 stocks with 25+ consecutive years of dividend increases, meeting specific size and liquidity criteria. These companies demonstrate both the desire and ability to reward shareholders with rising dividends—a rare combination.
While these criteria are compelling, they are not sufficient on their own. Value must also be taken into account. The spreadsheet enables you to sort stocks by trailing price-to-earnings ratio, helping you identify undervalued, high-quality dividend stocks.
Here’s a quick guide on how to leverage the Dividend Aristocrats list to find high-quality dividend growth stocks that may be trading at a discount:
- Download the list
- Sort by ‘Trailing PE Ratio,’ from smallest to largest
- Conduct further research on the top stocks
Step 1: Download the list and open it.
Step 2: Apply a filter function to each column in the spreadsheet.
Step 3: Click the small gray down arrow next to ‘Trailing P/E Ratio’ and sort from smallest to largest.
Step 4: Review the highest-ranked Dividend Aristocrats before making investment decisions. Detailed analyses of every Dividend Aristocrat are available further down in this article.
Performance Of The Dividend Aristocrats
As of September 2025, the Dividend Aristocrats, tracked by the Dividend Aristocrats ETF (NOBL), recorded a total return of 0.15%, underperforming the SPDR S&P 500 ETF (SPY) for the month.
- NOBL generated returns of 0.15% in September 2025
- SPY generated returns of 4.3% in September 2025
While short-term performance can be noisy, it’s essential to evaluate performance over a minimum of three years, ideally longer. Over the past decade, the Dividend Aristocrats Index has slightly underperformed the broader market, yielding an 11.0% total annual return compared to the S&P 500 Index’s 15.3%.
However, the Dividend Aristocrats have exhibited lower risk, as measured by standard deviation. This combination of higher total returns with lower volatility is often seen as the ‘holy grail’ of investing.
Notably, much of the outperformance relative to the S&P 500 occurs during recessions (2000-2002, 2008). The Dividend Aristocrats have historically experienced smaller drawdowns during economic downturns, making it easier to hold through challenging times.
For instance, in 2008, the Dividend Aristocrats Index declined by 22%, while the S&P 500 fell by 38%. Strong businesses with competitive advantages tend to generate robust cash flows during recessions, allowing them to capture market share while weaker companies struggle.
The Dividend Aristocrats Index has outperformed the market over the last 28 years. We believe dividend-paying stocks outperform non-dividend-paying stocks for three key reasons:
- Companies that pay dividends are likely generating earnings or cash flows, excluding the riskiest stocks.
- Dividend-paying businesses are more selective with growth projects, enhancing shareholder value.
- Stocks that pay dividends demonstrate a commitment to rewarding shareholders, indicating management’s shareholder-friendly approach.
In our view, Dividend Aristocrats have historically outperformed the market due to their status as higher-quality businesses. A high-quality business is likely to outperform a mediocre one over the long term, all else being equal.
To maintain a streak of 25+ consecutive years of dividend increases, a company must possess, or have recently possessed, a strong competitive advantage.
Sector Overview
The sector breakdown of the Dividend Aristocrats Index reveals a tilt toward Consumer Staples and Industrials, which together account for over 40% of the index, compared to less than 20% of the S&P 500.
Additionally, the Dividend Aristocrats Index is significantly underweight in the Information Technology sector, with approximately a 3% allocation compared to over 20% in the S&P 500. This index is populated with stable, ‘old economy’ blue-chip consumer product businesses and manufacturers, such as Coca-Cola (KO) and Johnson & Johnson (JNJ).
While these ‘boring’ businesses may not generate 20%+ earnings-per-share growth, they are also less likely to experience significant earnings drawdowns.
The 10 Best Dividend Aristocrats Now
This research report highlights the 10 best Dividend Aristocrats from our Sure Analysis Research Database, ranked by their expected 5-year total returns.
Dividend Aristocrat #10: Clorox Co. (CLX)
- 5-year Expected Annual Returns: 12.1%
Clorox manufactures and markets a diverse range of consumer and professional products, generating over $7 billion in annual revenue. The company has an impressive dividend increase streak of 48 consecutive years.
In its recent earnings report, Clorox reported adjusted earnings-per-share of $2.87, exceeding estimates by 66 cents, with revenue up 5.3% year-over-year.
Dividend Aristocrat #9: Nordson Corporation (NDSN)
- 5-year Expected Annual Returns: 12.3%
Nordson operates in over 35 countries, engineering products for dispensing adhesives and coatings. The company reported a 12% increase in sales for the third quarter, driven by strong performance across its segments.
Dividend Aristocrat #8: Automatic Data Processing (ADP)
- 5-year Expected Annual Returns: 12.6%
ADP is a leading business services outsourcing company, providing payroll and HR technology to over 700,000 corporate clients. The company reported better-than-expected earnings and revenue growth in its latest quarter.
Dividend Aristocrat #7: Brown & Brown (BRO)
- 5-year Expected Annual Returns: 12.4%
Brown & Brown is a prominent insurance brokerage firm with a strong focus on property and casualty insurance. The company has a 31-year streak of consecutive dividend increases.
Dividend Aristocrat #6: S&P Global (SPGI)
- 5-year Expected Annual Returns: 13.4%
S&P Global provides financial services and business information, generating over $15 billion in revenue. The company has increased its dividend for 52 consecutive years.
Dividend Aristocrat #5: PepsiCo Inc. (PEP)
- 5-year Expected Annual Returns: 15.8%
PepsiCo is a global food and beverage leader, with a diverse product portfolio. The company reported strong second-quarter earnings, exceeding revenue estimates.
Dividend Aristocrat #4: PPG Industries (PPG)
- 5-year Expected Annual Returns: 16.9%
PPG Industries is the largest paints and coatings company globally. The company recently raised its dividend for the 54th consecutive year.
Dividend Aristocrat #3: Becton Dickinson & Co. (BDX)
- 5-year Expected Annual Returns: 17.3%
Becton Dickinson is a leader in the medical supply industry, generating approximately $20 billion in annual revenue. The company reported strong growth across its segments in its latest earnings report.
Dividend Aristocrat #2: Amcor plc (AMCR)
- 5-year Expected Annual Returns: 17.9%
Amcor is a leading packaging manufacturer, emphasizing sustainable practices. The company reported strong growth following its acquisition of Berry Global.
Dividend Aristocrat #1: Factset Research Systems (FDS)
- 5-year Expected Annual Returns: 21.5%
FactSet provides integrated financial information and analytical tools, reporting solid revenue growth and strong cash flow in its latest quarter.
The Dividend Aristocrats In Focus Analysis Series
Detailed analyses of each Dividend Aristocrat are available, sorted by GICS sectors and listed alphabetically. Each analysis includes the latest Sure Analysis Research Database report.
Historical Dividend Aristocrats List (1989 – 2025)
The image below illustrates the history of the Dividend Aristocrats Index from 1989 through 2025:
Note: Some companies were removed and re-added to the Dividend Aristocrats Index during this period.
Disclaimer: Sure Dividend is not affiliated with S&P Global. S&P Global owns and maintains The Dividend Aristocrats Index. The information in this article and downloadable spreadsheet is based on Sure Dividend’s own review and analysis of the S&P 500 Dividend Aristocrats ETF (NOBL) and other sources. For official information, consult S&P Global.
This information was compiled from various sources, including the Dividend Kings List, Blue Chip Stocks List, and High Dividend Stocks List.
Frequently Asked Questions
1. What is the highest-paying Dividend Aristocrat? Amcor currently yields 6.3%.
2. What is the difference between the Dividend Aristocrats and the Dividend Kings? Dividend Aristocrats must be in the S&P 500 and have raised dividends for at least 25 consecutive years, while Dividend Kings have a 50-year requirement.
3. Is there an ETF that tracks the Dividend Aristocrats? Yes, the Dividend Aristocrats ETF (NOBL) specifically holds these stocks.
4. What is the average dividend yield of the Dividend Aristocrats? The average yield is currently 2.1%.
5. Are the Dividend Aristocrats safe investments? While no investment is guaranteed, Dividend Aristocrats are generally considered safe due to their competitive advantages and consistent dividend payouts.
Other Dividend Lists & Final Thoughts
The Dividend Aristocrats list is just one way to identify stocks that consistently pay rising dividends. Other lists include:
- The Dividend Kings List, which includes stocks with 50+ years of increases.
- The Blue Chip Stocks List, featuring stocks that qualify as Dividend Achievers, Aristocrats, or Kings.
- The High Dividend Stocks List, focusing on stocks with yields of 5% or more.
- The Monthly Dividend Stocks List, which pays dividends every month.
Ultimately, the Dividend Aristocrats are a collection of high-quality, shareholder-friendly stocks with strong competitive advantages. Investing in these stocks at fair prices and holding them for the long term can lead to favorable performance.
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