Image Source: Pixabay

As a group of companies that produce goods that are used in construction and manufacturing, the industrial sector forms the backbone of the global economy.

The industrial sector covers a wide swath of industries, including (among others):

• Airlines
• Railroads
• Aerospace/Defense
• Various Industrial Manufacturers

A surprising number of Dividend Kings, a group of stocks with at least 50 years of dividend increases, come from the Industrials sector. The following 3 Industrials stocks have increased their dividends for over 50 years.

Gorman-Rupp Co. (GRC)

Gorman-Rupp began manufacturing pumps and pumping systems back in 1933. Since that time, it has grown into an industry leader with annual sales of about $680 million. Gorman-Rupp is a focused, niche manufacturer of critical systems that many industrial clients rely upon for their own success. Gorman-Rupp generates about one-third of its total revenue from outside of the U.S.

Gorman-Rupp posted first quarter earnings on April 24th, 2025. Earnings came to 46 cents per share, while revenue was up 2.9% year-over-year to $164 million. Sales were up $1.8 million in the municipal market, and up $3.2 million in the repair market. Sales were up $2.5 million in the OEM market. These were partially offset by declines of $2.7 million in construction, $0.9 million in agriculture, and $0.9 million in industrial markets.

Gross profit was $50.3 million in Q1, resulting in gross margin of 30.7% of revenue. These were better than $48.4 million and gross margin of 30.4% a year ago. The increase in gross margin was primarily driven by the realization of selling price increases, partially offset by increased labor and overhead costs.

We are forecasting 6% earnings-per-share growth going forward. The company can achieve this result mostly through high single-digit sales growth. Given the company’s robust backlog of uncompleted work, we see revenue growth continuing for the near term, which the company says continues to occur. The company’s competitive advantage is in its many decades of experience in providing innovative solutions for niche, but critical, engineering problems facing its customers.

GRC has increased its dividend for 52 consecutive years.

MSA Safety (MSA)

MSA Safety Incorporated, formerly Mine Safety Appliances, was founded in 1914. Today, it develops and manufactures safety products. Customers come from a variety of industrial markets, including oil & gas, fire service, construction, mining, and the military. MSA Safety’s major products include gas and flame detection, air respirators, head protection, fall protection, air purifying respirators, and eye protection gear.

On April 29th, 2025, MSA released its Q1 results. For the quarter, revenue came in at $421.3 million, up 2% compared to Q1-2024. More specifically, the Americas segment’s sales were down 1% while the International segment’s sales rose by 9%. MSA’s adjusted operating margin declined slightly by 50 basis points to 20.8% compared to last year. Adjusted EPS improved by 4% to $1.68.

MSA has put together a solid growth record in the past decade, growing by an average rate of 13.2% per year from 2015 through 2024. MSA’s acquisition of Globe Manufacturing in 2017 boosted the company’s revenue growth profile and provided the company with an expansion into new product categories, such as protective clothing for firefighters.

Innovations such as the thermal imaging camera in the self-contained breathing apparatus and the company’s V-Series line of fall protection have helped as well. In addition, the Sierra Monitor acquisition, Bristol Uniforms acquisition, Bacharach acquisition, and a strong backlog cement the idea of the possibility of continued growth. Most of MSA’s products continue to be in high demand in the current environment.

MSA Safety has several competitive advantages that fuel its growth as the leader across the safety and protection products industry. It has a global reach that competitors cannot match, with roughly a third of annual sales from outside the Americas, and it can invest in growth initiatives to retain its industry leadership.

On May 2nd, 2025, MSA Safety raised its dividend by 3.9% to a quarterly rate of $0.53. MSA has increased its dividend for 55 consecutive years.

Stanley Black & Decker (SWK)

Stanley Black & Decker is a world leader in power tools, hand tools, and related items. The company holds the top global position in tools and storage sales. Stanley Black & Decker is second in the world in the areas of commercial electronic security and engineered fastening.

On April 30th, 2025, Stanley Black & Decker reported first quarter results for the period ending March 31st, 2025. For the quarter, revenue fell 3.4% to $3.74 billion, but this was $20 million ahead of estimates. Adjusted earnings-per-share of $0.75 compared favorably to $0.56 in the prior year and was $0.08 more than expected.

Company-wide organic growth improved 1% for the quarter, but this was offset by currency exchange and divestitures. Organic sales for Tools & Outdoor, the largest segment within the company, had organic growth of 1%. North America improved 2%, Europe was unchanged, and the rest of the world declined 3%. Gains for DEWALT, Outdoor and Aerospace were offset by weaker results in Consumer and Auto Production.

Stanley Black & Decker’s key competitive advantage is that its products are well-known and respected by customers. This was why the company has been able to increase prices in certain product categories over the years and not see a decline in sales. Stanley Black & Decker has also been very active in making strategic acquisitions to help grow the company.

SWK has increased its dividend for 57 years.

More By This Author:

The 10 Stocks With The Longest Dividend Growth Streaks
3 Canadian Oil Stocks For High Income
The Top 7 Canadian Oil Stocks, Ranked In Order