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The Dividend Champions have raised their dividends for at least 25 years in a row. As a result, they are the best candidates for investors looking to get raises for doing nothing.

This article will discuss the our top 10 Dividend Champions to get raises for doing nothing. We will list the 10 Dividend Champions in the Sure Analysis Research Database with the highest 5-year dividend growth rates.

High-Growth Dividend Champion #10: Gorman-Rupp Co. (GRC)

• 5-year dividend growth rate: 9.0%

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 nearly $700 million and a market capitalization of $1 billion.

Today, 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.

Source: Investor Presentation

Gorman-Rupp posted third quarter earnings on October 25th, 2024. Results were weaker than the analysts’ estimates but still they reflected strong growth over the prior year.

Revenue grew marginally (0.4%), from $167.5 million to $168.2 million, as price hikes offset a decrease in volumes.

Adjusted earnings-per-share of $0.49 missed the analysts’ consensus by $0.06, but they were 44% higher than those in the prior year’s period. The strong performance resulted primarily from price hikes and lower input costs.

Click here to download our most recent Sure Analysis report on GRC (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #9: Badge Meter Inc. (BMI)

• 5-year dividend growth rate: 10.0%

Badger Meter was founded in 1905 in Milwaukee, WI. The company’s first product was a “frost proof” water meter.

Today, Badger Meter manufactures and markets meters and valves that are used to measure and control the flow of liquids, such as water, oil and various chemicals. The company’s products are also used to control the flow of air and other gases. Badger Meter generates ~$750 million in annual revenues.

On August 12th, 2024, Badger Meter increased its quarterly dividend 25.9% to $0.34 per share for the September 6th payment date, extending the company’s dividend growth streak to 32 consecutive years.

On October 17th, 2024, Badger Meter reported third quarter earnings results for the period ending September 30th, 2024. For the quarter, revenue grew 11.9% to $208.4 million, but this was $3.75 million less than expected.

Earnings-per-share of $1.08 compared favorably to earnings-per-share of $0.88 in the prior year and was $0.07 above estimates.

Click here to download our most recent Sure Analysis report on BMI (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #8: Roper Technologies (ROP)

• 5-year dividend growth rate: 10.0%

Roper Technologies is a specialized industrial company that manufactures products such as medical and scientific imaging equipment, pumps, and material analysis equipment.

Roper Technologies also develops software solutions for the healthcare, transportation, food, energy, and water industries. The company was founded in 1981, generatesaround $5.4 billion in annual revenues, and is based in Sarasota, Florida.

On October 23rd, 2024, Roper posted its Q3 results for the period ending September 30th, 2024. Quarterly revenues and adjusted EPS were $1.76 billion and $4.62, indicating a year-over-year increase of 13% and 7%, respectively.

The company’s momentum during the quarter remained strong, with organic growth coming in at 4% and acquisitions further boosting top-line growth.

Organic growth was once again driven by broad-based strength across its portfolio of niche-leading businesses.

Click here to download our most recent Sure Analysis report on ROP (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #7: Nordson Corp. (NDSN)

• 5-year dividend growth rate: 10.0%

Nordson was founded in 1954 in Amherst, Ohio by brothers Eric and Evan Nord, but the company can trace its roots back to 1909 with the U.S. Automatic Company.

Today the company has operations in over 35 countries and engineers, manufactures, and markets products used for dispensing adhesives, coatings, sealants, biomaterials, plastics, and other materials, with applications ranging from diapers and straws to cell phones and aerospace.

Source: Investor Presentation

On August 14th, 2024, Nordson increased its dividend by 15% to $0.78 per share quarterly, marking 61 years of increases.

On August 21st, 2024, Nordson reported third quarter results for the period ending July 31st, 2024. (Nordson’s fiscal year ends October 31st.) For the quarter, the company reported sales of $662 million, 2% higher compared to $649 million in Q3 2023, which was driven by a positive acquisition impact, and offset by organic decrease of 1%.

The Industrial Precision saw sales increase by 9.6%, while the Medical and Fluid Solutions and Advanced Technology Solutions segment had sales declines of (2.4%) and (10.9%), respectively.

The company generated adjusted earnings per share of $2.41, a 6% decrease compared to the same prior year period.

Click here to download our most recent Sure Analysis report on NDSN (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #6: Walmart Inc. (WMT)

• 5-year dividend growth rate: 11.0%

Walmart traces its roots back to 1945 when Sam Walton opened his first discount store. The company has since grown into one of the largest retailers in the world, serving over 230 million customers each week. Revenue will likely be around $600 billion this year.

Walmart posted second quarter earnings on August 15th, 2024, and results were excellent, sending the stock soaring. Adjusted earnings-per-share beat estimates by two cents at 67 cents. Revenue was up almost 5% year-over-year to $169.3 billion, and beat estimates by almost $2 billion.

Walmart posted third quarter earnings on November 19th, 2024, and results were better than expected on both the top and bottom lines, and by wide margins for both.

Adjusted earnings-per-share came to 58 cents, which was a nickel ahead of estimates, or almost 10%. Revenue was up 5.5% to $170 billion, which beat estimates by almost $3 billion.

Comparable sales in the US were up 5.3%, 150 basis points better than expected. Transactions were 3.1% higher during the quarter, while average ticket was up 2.1%.

E-commerce sales rose 27% during the quarter and was responsible for more than half of the total comparable sales gain.

Click here to download our most recent Sure Analysis report on Walmart (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #5: Casey’s General Stores (CASY)

• 5-year dividend growth rate: 12.0%

Casey’s General Stores owns and operates over 2,600 convenience stores under Casey’s brand name. The business primarily serves rural markets and approximately 50% of Casey’s stores are in areas with populations of 5,000 or less.

Across the company, Casey’s makes about 63% of revenue from selling fuel, 25% from groceries and general merchandise, and 10% from prepared food & dispensed beverages, which includes the company’s made-from-scratch pizzas, donuts, subs, and sandwiches.

Casey’s increased its quarterly dividend by 16% to $0.50 per share in June 2024, which marked its 25th consecutive annual dividend increase.

On November 1st, 2024, Casey’s completed its acquisition of Fikes Wholesale, Inc, the owner of CEFCO Convenience Stores. Casey’s purchased Fikes for $1.145 billion in all-cash. Casey’s acquired 198 retail stores and a dealer network, which increased the company’s store count to roughly 2,900 stores.

On December 9th, 2024, Casey’s reported Q2 FY 2025 results for the period ending October 31st, 2024. The company saw diluted earnings-per-share of $4.85, up 14% from the year-ago period, and beating analysts’ estimate by $0.58.

Click here to download our most recent Sure Analysis report on CASY (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #4: Ecolab, Inc. (ECL)

• 5-year dividend growth rate: 12.0%

Ecolab Inc. is the global leader in water, hygiene, and energy technologies and services, with a presence in more than 170 countries.

The company operates in four major business segments: Global Industrial, Global Institutional, Global Healthcare and Global Pest Elimination.

In late October, Ecolab reported (10/29/24) financial results for the third quarter of fiscal 2024. Organic sales grew 4% over the prior year’s quarter, primarily thanks to strong growth in the Institutional segment, which grew its sales 7%.

Thanks to higher volumes, material price hikes and lower supply chain costs, adjusted earnings-per-share grew 19%, from $1.54 to $1.83, and exceeded the analysts’ consensus by $0.01.

Moreover, thanks to robust pricing and positive sales momentum, management slightly improved its guidance for earnings-per-share in 2024, from $6.50-$6.70 to $6.60-$6.70, implying 28% growth over the prior year at the mid-point.

Click here to download our most recent Sure Analysis report on ECL (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #3: Stryker Corp. (SYK)

• 5-year dividend growth rate: 12.0%

Stryker is a global leader in the medical device sector. Product lines include surgical equipment, neurovascular products and orthopedic implants.

Today, the company employs more than 46,000 people worldwide. In November of 2021, Stryker reorganized its businesses into two reporting segments: MedSurg and Neurotechnology, and Orthopaedics and Spine.

On October 29th, 2024, Stryker reported third quarter earnings results for the period ending September 30th, 2024. For the quarter, revenue grew 12% to $5.5 billion, which was $130 million ahead of estimates.

Adjusted earnings-per-share totaled $2.87, which compared favorably to $2.46 in the prior year and was $0.10 better than expected.

Organic revenue was up 11.5% for the quarter. Volume grew 10.3% and higher prices added 1.2% to results. MedSurg and Neurotechnology had sales of $3.2 billion, which represented 12.7% organic growth, while Orthopaedics and Spine was higher by 9.7% to $2.3 billion.

Click here to download our most recent Sure Analysis report on SYK (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #2: S&P Global Inc. (SPGI)

• 5-year dividend growth rate: 12.0%

S&P Global is a worldwide provider of financial services and business information and revenue of over $13 billion. Through its various segments, it provides credit ratings, benchmarks and indices, analytics, and other data to commodity market participants, capital markets, and automotive markets.

S&P Global has paid dividends continuously since 1937 and has increased its payout for 51 consecutive years.

S&P Global posted third quarter earnings on October 24th, 2024, and results were quite strong once again. Adjusted earnings-per-share came to $3.89, which was 25 cents ahead of estimates. Earnings were down from $4.04 in Q2, but much higher than $3.21 in the year-ago period.

Revenue soared 16% higher year-on-year to $3.58 billion, which also beat estimates by $150 million. Growth in the Ratings and Indices segment led the top line higher in Q3, although strength was broad.

Click here to download our most recent Sure Analysis report on SPGI (preview of page 1 of 3 shown below):

High-Growth Dividend Champion #1: Stepan Co. (SCL)

• 5-year dividend growth rate: 15.0%

Stepan manufactures basic and intermediate chemicals, including surfactants, specialty products, germicidal and fabric softening quaternaries, phthalic anhydride, polyurethane polyols and special ingredients for the food, supplement, and pharmaceutical markets.

It is organized into three distinct business lines: surfactants, polymers, and specialty products. These businesses serve a wide variety of end markets, meaning that Stepan is not beholden to just a handful of industries.

Source: Investor presentation

The surfactants business is Stepan’s largest by revenue, accounting for ~68% of total sales in the most recent quarter. A surfactant is an organic compound that contains both water-soluble and water-insoluble components.

Stepan posted third quarter earnings on October 30th, 2024, and results were mixed. Adjusted earnings-per-share came in well ahead of expectations at $1.03, which was 38 cents better than expected. Revenue, however, was off almost 3% year-over-year to $547 million, and missed estimates by over $30 million.

Global sales volume fell 1% year-over-year, as double-digit growth in several of the company’s Surfactant end markets were fully offset by demand weakness in Polymers.

Click here to download our most recent Sure Analysis report on SCL (preview of page 1 of 3 shown below):

Final Thoughts

The beauty of dividend growth stocks is that they give shareholders a pay raise every year, for doing almost nothing. This is why we recommend quality dividend growth stocks, such as the Dividend Champions.

In order for a company to raise its dividend for at least 25 years, it must have durable competitive advantages, highly profitable businesses, and leadership positions in their respective industries.

They also have long-term growth potential and the ability to navigate recessions while continuing to raise their dividends.

The top 10 Dividend Champions in this article have long histories of dividend growth, and the ability to raise their dividends at a high rate going forward.

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