I prefer to buy companies with good dividend growth (NYSE:DG) culture and perspectives and do not sold them. The rule of thumb for dividend growth investors' (DGis) investment horizon is 100 - your age.
Why 100? - Average lifetime now is ~ 85 years but this is for ALL seniors most of them do not SWAN because they are not DGis 8-). If DGis want to pass their stocks to kids and/or grandkids their investment horizon should exceed a century.
Unfortunately average life-time of public company is about 25 years now (http://priceonomics.com/why-are-so-many-of-the-worlds-oldest-businesses-in/) i.e. more than 2X less than my investment horizon particularly due to creative disruption (http://www.technologyreview.com/view/519226/technology-is-wiping-out-companies-faster-than-ever/) in which I actively participate. Moreover, 52% of fortune 500 firms since 2000 are gone (https://www.linkedin.com/pulse/20141013064938-24873921-fragile-business-anti-fragile-business) mostly because of business underperformance (bad for investors) or mergers & acquisitions (not so bad for investors).
So I performed search for US and Canadian companies which are already 100+ years in business using S&P database. The results are below. Please note that I did catch (and fixed) some mistakes in dividend histories but I didn't verify the age of company. Generally USA and Canada economy are relatively young as well as some fields (e.g. software) created recently.
- trade
- food/drink production
- bank
- housing/lodging
- transportation
- arm production & defense
- entertainment
- apparel
but world progress accelerates and I'd not limit myself only with "proven fields" and invest in "young fields". Also industry field itself might be very stable but players are not (e.g. fashion in apparel) or field itself changes with time (who will own typewriter or invest in gladiator stadiums now?).
There are US/Canadian businesses which are at least century years old:
| Public companies 100 years old or more | ||||
| Symbol | Company | Established | Dividends Paid Since | S&P Sub-Industry |
| BK | The Bank of New York Mellon Corporation | 1784 | 1785 | Asset Management & Custody Banks |
| CI | CIGNA Corporation | 1792 | 1867 | Managed Health Care |
| DD | EI DuPont de Nemours & Co. | 1802 | 1904 | Diversified Chemicals |
| CL | Colgate-Palmolive Co. | 1806 | 1895 | Household Products |
| VAL | The Valspar Corporation | 1806 | 1964 | Specialty Chemicals |
| JW.A | John Wiley & Sons Inc. | 1807 | 1982 | Publishing |
| C | Citigroup, Inc. | 1812 | 2011 | Diversified Banks |
| YORW | York Water | 1816 | 1816 | Water Utilities |
| WBK | Westpac Banking ADR | 1817 | 1817 | Diversified Banks |
| JPM | JPMorgan Chase & Co. | 1823 | 1827 | Diversified Banks |
| BMO | Bank of Montreal/Marshall & Ilsley Corporation | 1829 | 1829 | Diversified Banks |
| STT | State Street Corp. | 1832 | 1910 | Asset Management & Custody Banks |
| MCK | McKesson Corporation | 1833 | 1995 | Health Care Distributors |
| BNS | Bank of Nova Scotia | 1834 | 1834 | Diversified Banks |
| PG | Procter & Gamble Co. | 1837 | 1891 | Household Products |
| DE | Deere & Company | 1837 | 1937 | Agricultural & Farm Machinery |
| PBCT | People's United Financial Inc. | 1842 | 1993 | Regional Banks |
| SAL | Salisbury Bancorp Inc. | 1848 | 1998 | Regional Banks |
| LAZ | Lazard Ltd. | 1848 | 2005 | Investment Banking & Brokerage |
| PFE | Pfizer Inc. | 1849 | 1901 | Pharmaceuticals |
| AXP | American Express Company | 1850 | 1870 | Consumer Finance |
| GLW | Corning Inc. | 1851 | 2007 | Electronic Components |
| WGL | WGL Holdings | 1852 | 1852 | Gas Utilities |
| WFC | Wells Fargo & Company | 1852 | 1939 | Diversified Banks |
| TRV | The Travelers Companies, Inc. | 1853 | 2003 | Property & Casualty Insurance |
| GAS | AGL Resources Inc. | 1856 | 1939 | Gas Utilities |
| TD | Toronto-Dominion Bk | 1857 | 1857 | Diversified Banks |
| BMS | Bemis Company, Inc. | 1858 | 1922 | Paper Packaging |
| MBTF | MBT Financial Corp. | 1858 | 2000 | Regional Banks |
| DNBF | DNB Financial Corp. | 1860 | 1995 | Regional Banks |
| UNP | Union Pacific Corporation | 1862 | 1900 | Railroads |
| NOV | National Oilwell Varco, Inc. | 1862 | 2009 | Oil & Gas Equipment & Services |
| USB | U.S. Bancorp | 1863 | 1863 | Diversified Banks |
| RRD | R.R. Donnelley & Sons Company | 1864 | 1911 | Commercial Printing |
| IBCP | Independent Bank Corporation | 1864 | 2014 | Regional Banks |
| PNC | PNC Financial Services Group | 1865 | 1865 | Regional Banks |
| HWBK | Hawthorn Bancshares, Inc. | 1865 | 1995 | Regional Banks |
| HBCP | Home Bancorp (Britton & Koontz Capital Corp.) | 1866 | 2014 | Thrifts & Mortgage Finance |
| ACU | Acme United Corp. | 1867 | 2004 | Office Services & Supplies |
| PKG | Packaging Corp. of America | 1867 | 2004 | Paper Packaging |
| CFR | Cullen/Frost Bankers, Inc. | 1868 | 1993 | Regional Banks |
| MET | MetLife, Inc. | 1868 | 2000 | Life & Health Insurance |
| MPB | Mid Penn Bancorp Inc. | 1868 | 2011 | Regional Banks |
| ESBK | Elmira Savings Bank | 1869 | 1988 | Thrifts & Mortgage Finance |
| GS | The Goldman Sachs Group, Inc. | 1869 | 1999 | Investment Banking & Brokerage |
| WBC | WABCO Holdings Inc. | 1869 | 2007 | Construction Machinery & Heavy Trucks |
| RY | Royal Bank Canada | 1870 | 1870 | Diversified Banks |
| XOM | Exxon Mobil Corporation | 1870 | 1882 | Integrated Oil & Gas |
| FNFG | First Niagara Financial Group Inc. | 1870 | 1998 | Regional Banks |
| SMG | The Scotts Miracle-Gro Company | 1870 | 2005 | Fertilizers & Agricultural Chemicals |
| LB.C | Laurentian Bank, Canada | 1871 | 1871 | Regional Banks |
| MMC | Marsh & McLennan Companies, Inc. | 1871 | 1923 | Insurance Brokers |
| KMB | Kimberly-Clark Corporation | 1872 | 1935 | Household Products |
| AFG | American Financial Group Inc. | 1872 | 1987 | Multi-line Insurance |
| NBN | Northeast Bancorp | 1872 | 1988 | Regional Banks |
| ZION | Zions Bancorp. | 1873 | 1966 | Regional Banks |
| BAC | Bank of America Corporation | 1874 | 1903 | Diversified Banks |
| RAI | Reynolds American Inc. /Lorillard, Inc. | 1875 /1760 | 1999 | Tobacco |
| RIVR | River Valley Bancorp | 1875 | 1997 | Thrifts & Mortgage Finance |
| PRU | Prudential Financial, Inc. | 1875 | 2002 | Life & Health Insurance |
| LLY | Eli Lilly & Co. | 1876 | 1885 | Pharmaceuticals |
| PVH | Phillips-Van Heusen Corp. | 1876 | 1970 | Apparel, Accessories & Luxury Goods |
| SWK | Stanley Black & Decker | 1877 | 1877 | Industrial Machinery |
| GEF | Greif, Inc. | 1877 | 1926 | Metal & Glass Containers |
| PDCO | Patterson Companies Inc. | 1877 | 2010 | Health Care Distributors |
| CVX | Chevron Corporation | 1879 | 1912 | Integrated Oil & Gas |
| FL | Foot Locker, Inc. | 1879 | 2003 | Apparel Retail |
| BCE | BCE Inc | 1881 | 1881 | Integrated Telecommunication Services |
| UGI | UGI Corp. | 1882 | 1885 | Gas Utilities |
| CB | The Chubb Corporation | 1882 | 1902 | Property & Casualty Insurance |
| PPG | PPG Industries Inc. | 1883 | 1899 | Specialty Chemicals |
| NSC | Norfolk Southern Corp. | 1883 | 1901 | Railroads |
| LEG | Leggett & Platt, Incorporated | 1883 | 1939 | Home Furnishings |
| BTU | Peabody Energy Corp. | 1883 | 2001 | Coal & Consumable Fuels |
| KR | The Kroger Co. | 1883 | 2006 | Food Retail |
| ED | Consolidated Edison Inc. | 1884 | 1885 | Multi-Utilities |
| CIVB | Civista Bancshares /First Citizens Banc Corp./ | 1884 | 1994 | Regional Banks |
| LVLT | Level 3 Communications Inc. (LLL?) | 1884 | 2004 | Alternative Carriers |
| NCR | NCR Corp. | 1884 | 2007 | Technology Hardware, Storage & Peripherals |
| JCI | Johnson Controls Inc. | 1885 | 1887 | Auto Parts & Equipment |
| KO | The Coca-Cola Company | 1886 | 1893 | Soft Drinks |
| AVP | Avon Products Inc. | 1886 | 1919 | Personal Products |
| JNJ | Johnson & Johnson | 1886 | 1944 | Pharmaceuticals |
| EIX | Edison International | 1886 | 2004 | Electric Utilities |
| AWK | American Water Works Company, Inc. | 1886 | 2008 | Water Utilities |
| SUN | Sunoco, Inc. | 1886 | 2012 | Oil & Gas Storage & Transportation |
| SIEB | Siebert Financial Corp. | 1886 | 1990 | Investment Banking & Brokerage |
| NST | NSTAR/Northern Star Resources Limited | 1886 | 2012 | Gold |
| HON | Honeywell Intl | 1887 | 1887 | Aerospace & Defense |
| OCX.C | Onex Corp | 1887 | 1887 | Multi-Sector Holdings |
| BMY | Bristol-Myers Squibb Company | 1887 | 1900 | Pharmaceuticals |
| EXC | Exelon Corp. | 1887 | 1902 | Electric Utilities |
| ORI | Old Republic International Corp. | 1887 | 1942 | Property & Casualty Insurance |
| MRO | Marathon Oil Corporation | 1887 | 1991 | Oil & Gas Exploration & Production |
| SMBC | Southern Missouri Bancorp, Inc. | 1887 | 1995 | Thrifts & Mortgage Finance |
| ABT | Abbott Laboratories | 1888 | 1926 | Health Care Equipment |
| HUB.B | Hubbell Inc. | 1888 | 1934 | Electrical Components & Equipment |
| MHP | The McGraw-Hill Companies, Inc. | 1888 | 1937 | Specialized Finance |
| AA | Alcoa, Inc. | 1888 | 1939 | Aluminum |
| UCFC | United Community Financial Corp. | 1889 | 2014 | Thrifts & Mortgage Finance |
| CM | Canadian Imperial Bk Commerce | 1890 | 1890 | Diversified Banks |
| EMR | Emerson Electric Co. | 1890 | 1947 | Electrical Components & Equipment |
| RNST | Renasant Corp (First M&F Corp.) | 1890 | 1987 | Regional Banks |
| ASBI | Ameriana Bancorp | 1890 | 1988 | Regional Banks |
| IMO | Imperial Oil Ltd | 1891 | 1891 | Integrated Oil & Gas |
| MRK | Merck & Co. Inc. | 1891 | 1935 | Pharmaceuticals |
| STI | SunTrust Banks, Inc. | 1891 | 1985 | Regional Banks |
| FCAP | First Capital Inc. | 1891 | 1999 | Thrifts & Mortgage Finance |
| GE | General Electric Co. | 1892 | 1899 | Industrial Conglomerates |
| CVS | CVS Caremark Corporation | 1892 | 1916 | Drug Retail |
| CFBK | Central Federal Corp. | 1892 | 1999 | Thrifts & Mortgage Finance |
| JOB | General Employment Enterprises Inc. | 1893 | 1994 | Human Resource & Employment Services |
| FRME | First Merchants Corp | 1894 | 1894 | Regional Banks |
| MBWM | Mercantile Bank (Firstbank Corporation) | 1894 | 2003 | Regional Banks |
| AMP | Ameriprise Financial Inc. | 1894 | 2005 | Asset Management & Custody Banks |
| LECO | Lincoln Electric Holdings Inc. | 1895 | 1915 | Industrial Machinery |
| NTRS | Northern Trust | 1896 | 1896 | Asset Management & Custody Banks |
| POM | Pepco Holdings, Inc. | 1896 | 1904 | Electric Utilities |
| DOW | The Dow Chemical Company | 1897 | 1911 | Diversified Chemicals |
| BDX | Becton, Dickinson and Company | 1897 | 1926 | Health Care Equipment |
| GIS | Genl Mills | 1898 | 1898 | Packaged Foods & Meats |
| ADM | Archer Daniels Midland Company | 1898 | 1927 | Agricultural Products |
| IP | International Paper Co. | 1898 | 1946 | Paper Products |
| PEP | Pepsico, Inc. | 1898 | 1952 | Soft Drinks |
| FFDF | FFD Financial Corp. | 1898 | 1996 | Regional Banks |
| CME | CME Group Inc. | 1898 | 2003 | Specialized Finance |
| GT | Goodyear Tire & Rubber Co. | 1898 | 2013 | Tires & Rubber |
| AVA | Avista Corp | 1899 | 1899 | Multi-Utilities |
| BOH | Bank of Hawaii | 1899 | 1899 | Regional Banks |
| TE | TECO Energy, Inc. | 1899 | 1900 | Multi-Utilities |
| EFX | Equifax Inc. | 1899 | 1914 | Research & Consulting Services |
| TKR | Timken Co. | 1899 | 1922 | Industrial Machinery |
| SON | Sonoco Products Co. | 1899 | 1925 | Paper Packaging |
| GD | General Dynamics Corp. | 1899 | 1979 | Aerospace & Defense |
| LM | Legg Mason Inc. | 1899 | 1983 | Asset Management & Custody Banks |
| BAM | Brookfield Asset Management (GrafTech International Ltd.) | 1899 | 1989 | Diversified Real Estate Activities |
| WAYN | Wayne Savings Bancshares Inc. | 1899 | 1993 | Thrifts & Mortgage Finance |
| S | Sprint Nextel Corp. | 1899 | 1984 | Wireless Telecommunication Services |
| UIL | UIL Holdings | 1900 | 1900 | Electric Utilities |
| TMK | Torchmark Corp. | 1900 | 1933 | Life & Health Insurance |
| CRRB | Bay Bancorp (Carrollton Bancorp) | 1900 | 1994 | Regional Banks |
| FUNC | First United Corporation | 1900 | 1992 | Regional Banks |
| EMCF | Emclaire Financial Corp. | 1900 | 2001 | Regional Banks |
| CHD | Church & Dwight | 1901 | 1901 | Household Products |
| HE | Hawaiian Elec Indus | 1901 | 1901 | Electric Utilities |
| WAG | Walgreens Boots Alliance Holding Company | 1901 | 1933 | Pharmaceutical Retailers |
| CPB | Campbell Soup | 1902 | 1902 | Packaged Foods & Meats |
| MATX | Matson Inc | 1902 | 1902 | Marine |
| MMM | 3M Co. | 1902 | 1916 | Industrial Conglomerates |
| TGT | Target Corp. | 1902 | 1965 | General Merchandise Stores |
| FBSS | Fauquier Bankshares Inc. | 1902 | 1998 | Regional Banks |
| NAV | Navistar International Corp. | 1902 | 1970 | Construction Machinery & Heavy Trucks |
| NFG | Natl Fuel Gas | 1903 | 1903 | Gas Utilities |
| F | Ford Motor Co. | 1903 | 2012 | Automobile Manufacturers |
| JW.B | Wiley(John)Sons 'B' | 1904 | 1904 | Publishing |
| UBOH | United Bancshares Inc. | 1904 | 2012 | Regional Banks |
| PCAR | PACCAR Inc. | 1905 | 1943 | Construction Machinery & Heavy Trucks |
| CHRW | CH Robinson Worldwide Inc. | 1905 | 1997 | Air Freight & Logistics |
| PCG | PG & E Corp. | 1905 | 2005 | Multi-Utilities |
| MJN | Mead Johnson Nutrition Company | 1905 | 2009 | Packaged Foods & Meats |
| BBT | BB & T Corp. | 1906 | 1903 | Regional Banks |
| AEE | Ameren Corp | 1906 | 1906 | Multi-Utilities |
| AEP | American Electric Power Co., Inc. | 1906 | 1909 | Electric Utilities |
| K | Kellogg Company | 1906 | 1923 | Packaged Foods & Meats |
| ATO | Atmos Energy Corporation | 1906 | 1984 | Gas Utilities |
| KEQU | Kewaunee Scientific Corp. | 1906 | 1996 | Health Care Equipment |
| INGR | Ingredion Inc (Corn Products International Inc.) | 1906 | 1998 | Agricultural Products |
| XRX | Xerox Corp. | 1906 | 2008 | Data Processing & Outsourced Services |
| GCI | Gannett Co., Inc. | 1906 | 2015 | Publishing |
| HH | Hooper Holmes Inc. | 1906 | 1987 | Health Care Services |
| CRS | Carpenter Technology | 1907 | 1907 | Steel |
| KCLI | Kansas City Life Ins | 1907 | 1907 | Life & Health Insurance |
| PEG | Public Svc Enterprises | 1907 | 1907 | Multi-Utilities |
| PX | Praxair Inc. | 1907 | 1992 | Industrial Gases |
| COB | CommunityOne Bancorp (FNB United Corp. + Bank of Granite Corporation) | 1907 | 1996 | Regional Banks |
| UPS | United Parcel Service, Inc. | 1907 | 2000 | Air Freight & Logistics |
| OGE | OGE Energy | 1908 | 1908 | Electric Utilities |
| UTL | UNITIL Corp | 1908 | 1908 | Electric Utilities |
| WMB | Williams Companies, Inc. | 1908 | 1974 | Oil & Gas Storage & Transportation |
| SM | SM Energy Company | 1908 | 1993 | Oil & Gas Exploration & Production |
| DTE | DTE Energy | 1909 | 1909 | Multi-Utilities |
| MGEE | MGE Energy | 1909 | 1909 | Electric Utilities |
| D | Dominion Resources, Inc. | 1909 | 1925 | Multi-Utilities |
| VMC | Vulcan Materials Company | 1909 | 1934 | Construction Materials |
| IFF | International Flavors & Fragrances Inc. | 1909 | 1956 | Specialty Chemicals |
| LMT | Lockheed Martin Corporation | 1909 | 1995 | Aerospace & Defense |
| FBIZ | First Business Financial Services, Inc. | 1909 | 2006 | Regional Banks |
| IR | Ingersoll-Rand Plc | 1910 | 1910 | Industrial Machinery |
| XEL | Xcel Energy | 1910 | 1910 | Electric Utilities |
| IBM | International Business Machines | 1911 | 1916 | IT Consulting & Other Services |
| HBAN | Huntington Bancshares | 1912 | 1912 | Regional Banks |
| MSEX | Middlesex Water | 1912 | 1912 | Water Utilities |
| CAT | Caterpillar Inc | 1914 | 1914 | Construction Machinery & Heavy Trucks |
| MSA | MSA Safety | 1916 | 1918 | Office Services & Supplies |
| BP | BP p.l.c. ADS | 1917 | 1917 | Integrated Oil & Gas |
| IDA | Idacorp Inc | 1917 | 1917 | Electric Utilities |
| BRK.A | Berkshire Hathaway Inc. | 1889 | no div | Multi-Sector Holdings |
| BW | The Babcock & Wilcox Company | 1867 | no div | Heavy Electrical Equipment |
| GV | Goldfield Corp. | 1906 | no div | Construction & Engineering |
| OI | Owens-Illinois, Inc. | 1903 | no div | Metal & Glass Containers |
| SIRO | Sirona Dental Systems Inc. | 1882 | no div | Health Care Equipment |
| YAMA | Yuma Energy (Pyramid Oil Company) | 1909 | Suspended Preferred Stock dividends in Nov 2015 | Oil & Gas Exploration & Production |
| (NASDAQ:MPAC) | MOD-PAC Corp. | 1881 | Private from 2013 | Paper Packaging |
| (NYSE:NVE) | NV Energy, Inc. | 1906 | Now subsidiary of Berkshire Hathaway | |
| (DUCK) | Duckwall-ALCO Stores Inc. | 1901 | bankruptcy | Discount Retail |
| TEG | Integrys Energy Group, Inc. | 1883 | Probably acquisition or private | |
| TNB | Thomas & Betts Corp. | 1898 | Probably acquisition or private | |
| URS | URS Corporation | 1904 | Probably acquisition or private | |
| WAB | Westinghouse Air Brake Technologies Corporation | 1869 | Probably acquisition or private | |
| GRNB | Green Bankshares, Inc. | 1890 | Probably acquisition or private | |
| HCBK | Hudson City Bancorp, Inc. | 1868 | Probably acquisition or private | |
| LNBB | LNB Bancorp Inc. | 1905 | Probably acquisition or private | |
| LSBI | LSB Financial Corp. | 1869 | Probably acquisition or private | |
| MFLR | Mayflower Bancorp, Inc. | 1889 | Probably acquisition or private | |
| PNBC | Princeton National Bancorp Inc. | 1865 | Probably acquisition or private | |
~ Same as picture:
Although these companies are old some of them are still beautiful and I invest in such beauties.
I have to point that famoust phrase "Past performance does not guarantee future results." is applicable to these old companies and DG firms (see seekingalpha.com/instablog/725729-sds-se...). Moreover I have observed that some companies erased their financial and dividend history from public databases (e.g. Yahoo, WSJ), so I'd say "Past performance IS not guaranteed" in financial world. So do your DD before invest in ANY company or fiancial instrument.
SDS 28 Jan 2016
Disclosure: I am/we are long IN SOME MENTIONED STOCKS.
