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November 2018 Dividend Champions List

|About: A. O. Smith Corporation (AOS), BRO, CTAS, EV, GRC, MCY, MSEX, NWN, RPM, SCL, TMP, TRI, TYCB, UMBF, UTX, VFC, WST

As part of my process, I update the list of dividend champions every month. I find it extremely helpful to go through the process of updating the list, in order to identify companies that I may have missed for my regular weekly dividend increase reports. I also find it helpful to have another point to touch base on the dividend investing universe, which can offer a glimpse into potential opportunities for further research. I like to immerse myself into dividend growth investing, and following dividend increase and maintaining the list of dividend champions definitely keeps me in fighting shape to pounce when the right opportunity is available at the right price.

A dividend champion is a company that has increased dividends every single year for at least 25 years in a row. This is a very difficult thing to achieve, which is why there are only 127 companies in the US that have managed to do this ( out of 10,000 or so). I find the list of dividend champions to be more complete than the list of dividend aristocrats. The list of dividend aristocrats uses inconsistent criteria to add and remove stocks, and has excluded companies for no reason in the past. Given that I update the list of dividend champions, and post the supporting data behind each dividend champion, I have list of companies have raised dividends for 25 years in a row. I am very comfortable with the list of dividend champions for those reasons, which is something I cannot say about the list of dividend aristocrats. If you study the historical changes in the dividend aristocrats you will understand my point of view.

Over the past month, there were several dividend champions that raised dividends. We also had three new additions to the list. You can download the list using Google Documents or Using Dropbox.November 2018 Dividend Champions List ( Google Documents)November 2018 Dividend Champions List ( Dropbox)Subscribers to my free email list will receive the file in a spreadsheet format.

New Dividend Champions

Brown & Brown (BRO) raised its quarterly dividend by 6.70% to 8 cents/share. This was the twenty-fifth consecutive annual dividend increase for the company.

United Technologies (UTX) raised its quarterly dividend by 5% to 73.50 cents/share. This newly minted dividend champion typically raises distributions every five quarters, rather than every four quarters.

Thompson Reuters (TRI) raised its quarterly dividend by 1.50% to 35 cents/share. The company raises dividends at a slow pace to get to the coveted 25 year streak of annual dividend increases.

The companies that raised dividends and extended their streaks of consecutive annual dividend increases include:

V.F. Corporation (VFC) raised its quarterly dividend by 10.90% to 51 cents/share. This marked the 46th consecutive annual dividend increase for this dividend champion.

West Pharmaceutical Services, Inc. (WST) raised its quarterly dividend by 7.10% to 15 cents/share. West Pharmaceutical Services is a dividend champion with 26 years of annual dividend increases under its belt.

Middlesex Water Company (MSEX) raised its quarterly dividend by 7.30% to 24 cents/share. This marked the 46th consecutive annual dividend increase for this dividend champion.

Eaton Vance Corp. (EV) raised its quarterly dividend by 12.90% to 35 cents/share. This marked the 38th consecutive dividend increase for this dividend champion.

A. O. Smith Corporation (AOS) raised its quarterly dividend by 22.20% to 22 cents/share. This was the second dividend increase this year for A.O. Smith. A.O. Smith is a dividend champion with 25 years of annual dividend increases under its belt.

Calvin B. Taylor Bankshares (OTCQX:TYCB) raised its quarterly dividend by 1% to 98 cents/share. This is the 28th consecutive year that the Board of Directors has increased the regular annual cash dividend.

Gorman-Rupp Company (GRC) raised its quarterly dividend by 8% to 13.50 cents/share. This event marked the 46th consecutive year of increased dividends paid to its shareholders. The company also declared a special dividend of $2/share.

Mercury General (MCY) raised its quarterly dividend by 0.40% to 62.75 cents/share. This marked the 32nd consecutive year of dividend increases for Mercury General. Also marked the 7th year in a row where the quarterly dividend is raised by a quarter of a cent.

Middlesex Water Company (MSEX) raised its quarterly dividend by 7.30% to 24 cents/share. This marked the 46th consecutive annual dividend increase for this dividend champion.

Northwest Natural Gas (NWN) raised its quarterly dividend by 0.50% to 47.50 cents/share. This marked the 62nd consecutive annual dividend increase for this dividend king. Northwest Natural Gas is one of only three companies on NYSE Increasing Dividends* with 62 year legacy of increasing annual dividends

RPM (RPM) raised its quarterly dividend by 9.40% to 35 cents/share. This action marked RPM’s 45th consecutive year of increased cash dividends paid to its stockholders.

Stepan (SCL) raised its quarterly dividend by 11.10% to 25 cents/share. The increase marks the 51st consecutive year in which the quarterly dividend rate on the Company's common stock has increased.

UMB Financial (UMBF) raised its quarterly dividend by 3.40% to 30 cents/share. This was the second dividend increase over the past year. The current payment is 9.10% higher than the payment done during the same time last year. This dividend champion has increased dividends for 26 years in a row.

Tompkins Financial (TMP) raised its quarterly dividend by 4.20% to 50 cents/a share. This was the second dividend increase over the past year. The current payment is 6.40% higher than the payment done during the same time last year. This dividend champion has increased dividends for 32 years in a row.

Cintas (CTAS) raised its annual dividend by 26.50% to $2.05/share. This is the 35th consecutive year that the annual dividend has increased, which is every year since Cintas went public in 1983.

Relevant Articles:

- Dividend Champions List For June 2018

- August 2018 Dividend Champions List

- September 2018 Dividend Champions List

- October 2018 Dividend Champions List