Many income investors are familiar with dividend growth stocks such as the Dividend Aristocrats, which are a group of 69 stocks in the S&P 500 Index that have raised their dividends for at least 25 consecutive years.

However, there are a number of lesser-known dividend growth stocks that do not get nearly as much coverage, and have much smaller followings.

These 3 dividend growth stocks have long histories of dividend growth, and solid current yields. And even though they do not get much attention from investors, they should continue to raise their dividends each year.

As a result, they could be 3 of the best dividend stocks you’ve never heard of.

Primerica Inc. (PRI)

Primerica, Inc. provides term life insurance to middle-income households in the United States and Canada. On behalf of third parties, it also offers mutual funds, annuities, managed investments, and other financial products.

As of March 31st, 2025, PRI insured 5.7 million lives and had roughly 2.9 million client investment accounts. The company’s offerings are sold via a network of 152,167 licensed sales representatives, who are independent contractors.

PRI is organized into the following three operating segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products.

On May 7th, PRI shared its first-quarter earnings report for the period ending March 31st, 2025. The company’s total operating revenue grew by 9.4% over the year-ago period to $804.8 million in the quarter. That was driven by strength in both the Term Life Insurance and Investment and Savings Products segments during the quarter.

Diluted EPS climbed 28.5% over the year-ago period to $5.05 during the quarter. This topped the analyst consensus by $0.27 for the quarter. That was due to a roughly 230-basis-point expansion in the net profit margin to 21% in the quarter.

Over the past decade, PRI’s diluted EPS have compounded by 15.6% annually. We think that diluted EPS can grow by 10% each year. This is because there’s an estimated $14 trillion protection gap in the term life insurance market. As the company’s licensed sales representatives educate consumers, there are opportunities for additional growth in this market.

PRI’s Investment and Savings Products segment also benefits from economic growth and the fact that client asset values tend to grow over time as a result.

PRI has increased its dividend for 15 consecutive years.

Donaldson Co. (DCI)

Donaldson has been creating filtration solutions for a wide array of applications since 1915. Its sales consist of filters in various engine and industrial applications as core categories, but continuous innovation and acquisitions have expanded the portfolio. The company is expected to produce about $3.7 billion in revenue this year.

Donaldson posted third quarter earnings on June 3rd, 2025, and results were mixed. Earnings-per-share came to 99 cents, slightly ahead of expectations. Revenue was up 1.3% year-over-year to $940 million, and beat estimates by almost $7 million. Growth in sales was driven by volume gains that were offset by currency translation headwinds.

Gross margin was 34.5% of revenue, a decline of 110 basis points year-over-year. This was due to higher manufacturing costs and footprint optimization initiatives. Operating expenses came to 18.2% of sales, down sharply from 20.1% a year ago.

Segment margins were 18.1% of revenue in Mobile Solutions, 18.1% in Industrial Solutions, and 7.8% in Life Sciences. The company took a pre-tax charge of $62 million for impairment of intangible assets in Univercells Technologies and Solaris, as well as an additional $4.2 million in restructuring costs.

Donaldson raised its dividend for the 30th consecutive year.

The company can grow through a variety of methods. First, sales increases ought to continue from organic growth, pricing increases, and acquisitions, which should amount to mid-single-digit or better growth. We see margin improvement activities as key to the company producing meaningfully higher earnings in the coming years, as well as a rebound in revenue producing leverage on SG&A costs.

Oshkosh Corporation (OSK)

Oshkosh Corporation is a leader in designing, manufacturing, and servicing a broad range of access equipment, commercial, fire & emergency, military and specialty vehicles and vehicle bodies. Brands under the corporate umbrella include Oshkosh, JLG, Pierce, McNeilus, Jerr-Dan, Frontline, CON-E-CO, London and IMT.

The company operates in three segments – Access Equipment, Defense, and Vocational – with products offered in over 150 countries. It employs approximately 18,000 people.

On January 30th, 2025, Oshkosh declared a $0.51 quarterly dividend, which represented an 11% increase.

On April 30th, 2025, Oshkosh reported first quarter 2024 results. (The company changed their fiscal year to a calendar year beginning on January 1st and ending on December 31st, effective in 2022). For the quarter, the company recorded sales of $2.31 billion, down 9% compared to Q1 2024.

Sales were mixed across the company’s segments, with Access, and Defense seeing decreases of 23% and 9%, respectively, while Vocational increased by 12%. Adjusted net income equaled $125 million, or $1.92 per share, compared to adjusted net income of $191 million, or $2.89 per share in Q1 2024.

Oshkosh holds a competitive advantage in its niche and has essential offerings for a variety of industries such as aerial work platforms, fire truck ladders and refuse collection bodies.

The company has leading brands, with a reputation for reliability and longevity, to go along with a comprehensive product line.

Disclosure: No positions in any stocks mentioned

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