Dividend Kings List 2026: All 57 Stocks Ranked by Value

Only 57 companies in the entire stock market have raised their dividends every single year for 50+ years straight. Not through the 2008 financial crisis. Not through COVID. Not through stagflation, oil shocks, or dot-com busts. Every. Single. Year.

These are the Dividend Kings — the ultimate test of corporate durability.

But here's the thing most dividend investors get wrong: a great company isn't always a great investment. Price matters. Even the best Dividend King becomes a bad buy when it's wildly overvalued.

That's why we've ranked all 57 Dividend Kings using Benjamin Graham's intrinsic value formula — the same framework the father of value investing used to find bargains. Below, you'll find every Dividend King sorted from most undervalued to most overvalued, so you can focus your capital where it has the best chance of compounding.

Use our free Dividend Calculator to model exactly how much passive income these stocks could generate for your portfolio.

What Is a Dividend King?

A Dividend King is a company that has increased its dividend payout to shareholders for at least 50 consecutive years. There's no official governing body — unlike Dividend Aristocrats (which must also be in the S&P 500) — so the only requirement is the streak itself.

That simplicity is what makes the list so powerful. You don't need to be a mega-cap. You don't need to be in the S&P 500. You just need to have paid shareholders more money, every year, for half a century.

As of March 2026, there are 57 Dividend Kings. Recent additions include Pentair (PNR), MGE Energy (MGEE), RLI Corp (RLI), Archer-Daniels-Midland (ADM), and United Bankshares (UBSI).

How We Ranked: The Graham Intrinsic Value Formula

Benjamin Graham's intrinsic value formula estimates what a stock is actually worth based on its earnings and growth, not what the market says it's worth:

Graham Value = EPS × (8.5 + 2g) × 4.4 / Y

Where:

EPS = Trailing twelve-month earnings per share
g = Expected 5-year earnings growth rate
8.5 = Base P/E for a zero-growth company
4.4 = Graham's benchmark corporate bond yield (1962)
Y = Current AAA corporate bond yield (~5.1% in early 2026)

A stock trading below its Graham Value is potentially undervalued. The bigger the gap, the larger the "margin of safety" — Graham's core principle.

Disclaimer: Graham Values are estimates based on analyst consensus EPS and growth projections. They are not buy/sell recommendations. Always do your own due diligence.

The Complete 2026 Dividend Kings List — Ranked by Value

We've organized all 57 Dividend Kings into tiers based on how their current price compares to the Graham intrinsic value estimate. Stocks are ranked from most undervalued (biggest margin of safety) to most overvalued.

🟢 Tier 1: Potentially Undervalued (Trading Below Graham Value)

These Dividend Kings are currently priced below their estimated Graham intrinsic value — offering the strongest margin of safety for value investors.

Rank	Company	Ticker	Sector	Yield	Yrs	Price*	Graham Value*	Margin
1	Altria Group	MO	Consumer Staples	7.8%	55	$57	$91	37%
2	Universal Corp.	UVV	Consumer Staples	6.4%	54	$52	$79	34%
3	Northwest Natural Holding	NWN	Utilities	4.9%	69	$40	$60	33%
4	Hormel Foods	HRL	Consumer Staples	3.7%	59	$30	$44	32%
5	Stanley Black & Decker	SWK	Industrials	4.2%	57	$82	$118	31%
6	Black Hills Corp.	BKH	Utilities	4.5%	54	$57	$81	30%
7	Stepan Co.	SCL	Materials	2.3%	58	$64	$90	29%
8	National Fuel Gas	NFG	Energy	3.2%	54	$58	$80	28%
9	H.B. Fuller	FUL	Materials	1.3%	56	$62	$84	26%
10	Genuine Parts Co.	GPC	Consumer Discr.	3.1%	69	$118	$158	25%
11	Federal Realty Inv. Trust	FRT	Real Estate	4.2%	57	$102	$136	25%
12	Farmers & Merchants Bancorp	FMCB	Financials	1.9%	59	$810	$1,070	24%
13	Canadian Utilities	CDUAF	Utilities	5.1%	53	$24	$31	23%
14	Gorman-Rupp Co.	GRC	Industrials	1.8%	52	$32	$41	22%
15	Becton Dickinson	BDX	Health Care	1.8%	54	$218	$276	21%
16	H2O America	HTO	Utilities	2.8%	58	$56	$70	20%
17	PPG Industries	PPG	Materials	2.2%	53	$118	$147	20%
18	United Bankshares	UBSI	Financials	4.1%	52	$36	$44	18%
19	Kenvue Inc.	KVUE	Health Care	3.5%	62	$22	$27	19%
20	Target Corp.	TGT	Consumer Staples	3.5%	57	$124	$150	17%

🟡 Tier 2: Fairly Valued (Within 15% of Graham Value)

These stocks are trading near their estimated intrinsic value — not screaming bargains, but not overpriced either.

Rank	Company	Ticker	Sector	Yield	Yrs	Price*	Graham Value*	Margin
21	Nucor Corp.	NUE	Materials	1.6%	52	$142	$166	14%
22	Cincinnati Financial	CINF	Financials	2.4%	65	$138	$161	14%
23	RPM International	RPM	Materials	1.6%	52	$112	$130	14%
24	Commerce Bancshares	CBSH	Financials	1.4%	57	$68	$78	13%
25	Consolidated Edison	ED	Utilities	3.4%	51	$100	$114	12%
26	Archer-Daniels-Midland	ADM	Consumer Staples	3.8%	51	$48	$55	13%
27	California Water Service	CWT	Utilities	2.1%	57	$48	$54	11%
28	Middlesex Water Co.	MSEX	Utilities	2.0%	53	$58	$65	11%
29	Tootsie Roll Industries	TR	Consumer Staples	1.2%	56	$29	$32	9%
30	Emerson Electric	EMR	Industrials	1.8%	68	$118	$128	8%
31	Nordson Corp.	NDSN	Industrials	1.1%	62	$218	$236	8%
32	Johnson & Johnson	JNJ	Health Care	3.2%	63	$158	$170	7%
33	PepsiCo	PEP	Consumer Staples	3.5%	53	$148	$158	6%
34	Kimberly-Clark	KMB	Consumer Staples	3.6%	53	$138	$147	6%
35	Fortis Inc.	FTS	Utilities	3.8%	52	$42	$44	5%
36	Illinois Tool Works	ITW	Industrials	2.2%	52	$258	$268	4%
37	Dover Corp.	DOV	Industrials	1.2%	70	$178	$184	3%
38	MGE Energy	MGEE	Utilities	1.7%	51	$82	$84	2%
39	RLI Corp.	RLI	Financials	0.9%	50	$78	$80	3%
40	MSA Safety	MSA	Industrials	1.0%	54	$178	$182	2%

🔴 Tier 3: Potentially Overvalued (Trading Above Graham Value)

These Dividend Kings may be overpriced relative to their earnings and growth. Quality companies, but patient investors may want to wait for a pullback.

Rank	Company	Ticker	Sector	Yield	Yrs	Price*	Graham Value*	Diff
41	Coca-Cola	KO	Consumer Staples	2.9%	63	$62	$60	-3%
42	Colgate-Palmolive	CL	Consumer Staples	2.2%	62	$92	$88	-5%
43	ABM Industries	ABM	Industrials	1.8%	59	$52	$49	-6%
44	Procter & Gamble	PG	Consumer Staples	2.4%	69	$168	$155	-8%
45	Lowe's Companies	LOW	Consumer Discr.	1.8%	63	$254	$232	-9%
46	American States Water	AWR	Utilities	2.2%	71	$82	$74	-11%
47	Sysco Corp.	SYY	Consumer Staples	2.7%	55	$76	$68	-12%
48	Tennant Co.	TNC	Industrials	1.1%	53	$84	$74	-14%
49	Abbott Laboratories	ABT	Health Care	1.8%	53	$122	$106	-15%
50	Marzetti (f/k/a Lancaster Colony)	MZTI	Consumer Staples	1.9%	63	$178	$152	-17%
51	AbbVie Inc.	ABBV	Health Care	3.2%	53	$198	$168	-18%
52	Parker-Hannifin	PH	Industrials	1.0%	68	$598	$502	-19%
53	Walmart	WMT	Consumer Staples	1.0%	52	$92	$76	-21%
54	Pentair	PNR	Industrials	1.1%	50	$98	$78	-26%
55	W.W. Grainger	GWW	Industrials	0.7%	53	$1,098	$860	-28%
56	Automatic Data Processing	ADP	Industrials	2.0%	51	$298	$228	-31%
57	S&P Global	SPGI	Financials	0.7%	52	$498	$372	-34%

*Approximate prices as of early March 2026. Graham Values are estimates based on trailing EPS, analyst consensus growth rates, and current AAA corporate bond yields. Verify current prices before making investment decisions.

Key Takeaways From the 2026 Rankings

The Most Undervalued Dividend Kings

The biggest value opportunities cluster in a few sectors:

Consumer Staples — Altria (MO), Universal (UVV), and Hormel (HRL) all trade at significant discounts. Altria's massive 7.8% yield reflects tobacco risk, but the company generates enormous free cash flow and has successfully diversified.
Utilities — Northwest Natural (NWN), Black Hills (BKH), and Canadian Utilities (CDUAF) offer fat yields and trade below intrinsic value. These are classic "boring" compounders.
Industrials — Stanley Black & Decker (SWK) has been beaten down from its post-pandemic highs, creating a rare entry point for a 57-year dividend grower.

The Most Overvalued Dividend Kings

The most stretched valuations tend to be in mega-cap growth names:

S&P Global (SPGI) and ADP are exceptional businesses that command premium valuations — but Graham would say you're paying for future growth that may not materialize.
W.W. Grainger (GWW) at nearly $1,100/share trades at a steep premium.
Walmart (WMT) and Parker-Hannifin (PH) are quality businesses priced for perfection.

Yield Hunters: The Highest-Paying Dividend Kings

If current income is your priority:

Stock	Ticker	Yield	Streak
Altria Group	MO	7.8%	55 yrs
Universal Corp.	UVV	6.4%	54 yrs
Canadian Utilities	CDUAF	5.1%	53 yrs
Northwest Natural	NWN	4.9%	69 yrs
Black Hills Corp.	BKH	4.5%	54 yrs

Sector Breakdown of the 57 Dividend Kings

Understanding sector concentration helps you build a balanced portfolio:

Consumer Staples: 14 stocks (25%) — The largest group, dominated by food, household, and tobacco names.
Industrials: 13 stocks (23%) — Manufacturing, business services, and infrastructure.
Utilities: 10 stocks (18%) — Water, gas, and electric providers. Stable but slower growth.
Financials: 6 stocks (11%) — Banks, insurance, and financial data companies.
Health Care: 5 stocks (9%) — Pharma and medical devices.
Materials: 5 stocks (9%) — Chemicals, steel, and building materials.
Consumer Discretionary: 2 stocks (4%) — Retail and auto parts.
Energy: 1 stock (2%) — Natural gas.
Real Estate: 1 stock (2%) — REIT.
Technology: 0 stocks — No tech Dividend Kings exist.

The zero tech representation is striking. It tells you something important about which business models are built for half-century durability — and which aren't.

New Dividend Kings in 2025–2026

Five companies recently joined the elite club:

Archer-Daniels-Midland (ADM) — Agricultural giant hit 50 years of increases
MGE Energy (MGEE) — Wisconsin utility with a rock-solid balance sheet
Pentair (PNR) — Water treatment and flow control, riding secular growth
RLI Corp. (RLI) — Specialty insurer known for underwriting discipline
United Bankshares (UBSI) — West Virginia-based regional bank

Companies expected to join by 2027: McDonald's (MCD), Sysco (SYY), Medtronic (MDT), and Clorox (CLX).

How to Build a Dividend Kings Portfolio on a Budget

You don't need $100,000 to start investing in Dividend Kings. Here's the "Poor Man's" approach:

Step 1: Start With Fractional Shares

Brokerages like Fidelity, Schwab, and Robinhood let you buy as little as $1 of any stock. Even Parker-Hannifin at ~$600/share is accessible.

Step 2: Focus on the Undervalued Tier

Don't just buy the most famous names. Our Graham ranking shows where the actual value is — often in smaller, less-followed companies.

Step 3: Turn on DRIP

Reinvest every dividend automatically. Over decades, DRIP turns small positions into serious wealth. Read our full guide on DRIP investing →

Step 4: Dollar-Cost Average

Add $50–$200/month to your Dividend Kings positions. Consistency beats timing.

→ Use our free Dividend Calculator to see how $100/month in Dividend Kings compounds over 10, 20, or 30 years.

Dividend Kings vs. Dividend Aristocrats: What's the Difference?

Feature	Dividend Kings	Dividend Aristocrats
Minimum streak	50 years	25 years
Must be in S&P 500?	No	Yes
Size requirements	None	Minimum market cap & liquidity
Current count	57	69
Includes small-caps?	Yes	No

Key insight: Not all Dividend Kings are Aristocrats (some are too small for the S&P 500), and not all Aristocrats are Kings (many haven't hit 50 years yet). The Kings list is arguably more impressive because it relies purely on dividend durability.

Frequently Asked Questions

How many Dividend Kings are there in 2026?

There are 57 Dividend Kings as of 2026, each with at least 50 consecutive years of annual dividend increases. The list grew from 47 companies at the end of 2024 to 52 in 2025, and to 57 in 2026 with recent additions and reclassifications.

Which Dividend King has the longest streak?

American States Water (AWR) holds the record with 71 consecutive years of dividend increases, followed by Dover Corp. (DOV) at 70 years and Procter & Gamble (PG), Genuine Parts (GPC), and Northwest Natural (NWN) at 69 years.

Are Dividend Kings good investments?

Historically, Dividend Kings have outperformed the S&P 500 during bear markets and matched it over full market cycles — with lower volatility. They're especially attractive for income-focused investors and retirees. However, buying at overvalued prices can hurt returns, which is why our Graham Value ranking matters.

What is the best Dividend King to buy in 2026?

Based on our Graham intrinsic value analysis, the most undervalued Dividend Kings include Altria (MO), Universal Corporation (UVV), Northwest Natural (NWN), and Hormel Foods (HRL). However, "best" depends on your goals — income seekers might prefer high-yield names, while growth investors might favor companies like S&P Global (SPGI) despite its premium price.

Is there a Dividend Kings ETF?

There is no ETF that tracks only Dividend Kings. The closest options are:

ProShares S&P 500 Dividend Aristocrats (NOBL) — tracks 25+ year streaks in the S&P 500
Vanguard Dividend Appreciation (VIG) — tracks 10+ year streaks
Building your own portfolio of individual Kings gives you more control and avoids the expense ratio.

Do Dividend Kings outperform the S&P 500?

Over long periods, Dividend Kings have delivered comparable or better risk-adjusted returns than the S&P 500. They tend to underperform in strong bull markets (especially tech-driven ones) but outperform during recessions and bear markets. The key advantage is lower drawdowns and consistent income.

What happens when a Dividend King cuts its dividend?

The company is immediately removed from the list. Recent examples include 3M (MMM), Walgreens (WBA), and Leggett & Platt (LEG), all of which cut dividends in 2024 and were deleted. In the entire history of the Dividend Kings list (since 2010), only 6 companies have been removed.

Start Building Your Dividend Kings Portfolio Today

The Dividend Kings represent the most battle-tested dividend payers in the market. But remember: price matters. Use our Graham Value rankings to focus on the stocks offering the best margin of safety.

Your next steps:

📊 Try our free Dividend Calculator — Model your income from any Dividend King
📧 Join our newsletter — Get weekly value rankings and new Dividend King alerts
📖 Learn about DRIP investing — The secret weapon that turns small positions into wealth

The best time to start investing in Dividend Kings was 50 years ago. The second best time is today.

Data sources: Sure Dividend, Dividend Growth Investor, company filings, analyst consensus estimates. Prices and Graham Values are approximate as of early March 2026 and should be verified before making investment decisions. This article is for educational purposes only and does not constitute financial advice.