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Below you’ll find the Dividend Aristocrats list for 2023 and a free dynamic ranking system that updates daily.
Visit the page at any time to see the latest scores. The detailed 40-point scoring methodology is outlined below the table. You’ll also find tips for selecting the best Dividend Aristocrat stocks and the best brokers for dividend growth investing.
Table of Contents
Dividend Aristocrats List and Rankings
Keep reading after the table to learn about the dynamic ranking system and how I source the data.
The default sort is by the ranking score, highlighting the most undervalued Dividend Aristocrats at the top. You can sort it as you like.
You may also download this table as a free Dividend Aristocrats spreadsheet, CSV, or PDF. Swipe to scroll across the table on mobile.
Please note: This data table relies on multiple data feeds. If one feed is down, the table may not populate all fields or load to the website. If there’s an error, refresh or come back later. Blanks and data feed errors will impact rankings.
02/07/2023: Removed VFC due to dividend cut
01/24/2023: Additions NDSN, CHRW, SJM (S&P Global Press Release)
01/26/2022: Additions BRO, CHD; Deletion T (S&P Global Press Release)
12/20/2021: Deletion LEG moved from S&P 500 to S&P 400 Mid Cap Index
02/01/2021: Additions IBM, NEE, WST; Deletions CARR, OTIS, RTX (S&P Global Press Release)
05/21/2020: ROST suspended dividend – Removed from table 09/29/20
04/06/2020 Removed UTX, added RTX. OTIS, CARR
Update for 2020: Added AMCR, ALB ATO, ESS, EXPD, O, ROST. PX to LIN.
Update for 2019: Added CB, CAT, UTX, PBCT.
Update for 2018: Added AOS, PX, ROP
Help Selecting the Best Dividend Stocks
For those looking for help in selecting the best dividend growth and retirement income stocks, I use and recommend The Sure Dividend Pro Plan. The five newsletter bundle has a strong focus on Dividend Aristocrats and other retirement and passive income investments. It tops the list of our favorite stock newsletters.
I’ve been a paid subscriber to this newsletter to supplement my own stock research for the past four years. Each month, Sure Dividend recommends its top 10 dividend growth stock picks, plus rankings of 850+ other of the best dividend stocks in the market. Highly recommended.
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The Sure Passive Income Newsletter — Focuses on ‘buy and hold forever’ dividend stocks. Its goal is to buy once and never sell for truly passive rising income over the long run. It publishes on the 3rd Sunday of the month.
Top 10 Dividend Elite Service — Analyzes the Top 10 dividend stocks with 25+ years of rising dividends every month. It publishes on the 1st Sunday of the month.
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The regular price for the Sure Dividend Pro Plan is $499 per year. RBD readers pay $399 per year by using the button below or the Sure Dividend coupon code “RBD100“.
Beginner investors can choose an entry-level newsletter subscription called The Sure Dividend Ideas Plan which offers only the Top 10 Dividend Elite Service and Top 10 REITs Service.
Regularly priced at $99, RBD readers pay $67 per year. The newsletters included offer basic buy recommendations without sell recommendations or quantitative analysis.
Both services come with a 7-day free trial. where you can download the latest versions to try them out.
Read more: Sure Dividend Review – Is it Worth the Cost?
Dividend Aristocrats Ranking Methodology
The table above has the updated Dividend Aristocrats list and a dynamic ranking system designed to highlight the most undervalued Dividend Aristocrats at a given point in time, worthy of more research.
I call this a quick value rankings list because it’s a first-glance look at the current best value opportunities. Keep in mind that this is in no way a complete way to evaluate a stock. Further research is necessary before buying one of these stocks.
Don’t consider this ranking system a recommendation to buy or sell individual stocks. However, use it as a starting point for further due diligence and research.
I also make no guarantee of the accuracy of this data. Data is sourced from Google Finance, Finviz, and the Dividend Radar CCC list, so it’s as good as they provide it. This table is now fed with near real-time data.
I’m currently using a 40-point system to rank the stocks based on my own investment philosophies and objectives.
Up to five points are awarded to each stock based on the following criteria:
- Current P/E Ratio
- Forward P/E Ratio
- Current Yield
- Cash Ratio (Cash and cash equivalents/total current liabilities)
- PEG Ratio (Price to earnings growth)
- Price to Book Ratio
- Payout Ratio
- 5-Year Dividend Growth Rate (DGR)
These are eight valuation measures I use in my own investing.
Above you can see the vital data, but I’m calculating the scoring behind the scenes because it doesn’t fit. Basic logical commands calculate the scoring based on the metrics listed after the table.
If you have any suggestions for additional metrics, please write them in the comments section. Data that is N/A, negative, or unavailable is scored as zero.
The table and calculations are done with a Google Sheet, utilizing the GOOGLEFINANCE function and the SheetsFinance add-on. I get the dividend growth rate (5-YR DGR) from the Dividend Radar CCC spreadsheet.
What are the Dividend Aristocrats?
The S&P Dividend Aristocrats Stocks List is a group of companies that have paid and increased dividends for 25 years or more. Income investors favor Dividend Aristocrats because the companies are solid long-term holdings with predictable, safe, and growing dividend payments.
The list is maintained by S&P Global and updated once a year in late January.
Dividend growth is a key metric for income investors to ensure income growth outpaces inflation. Stability and reliability are also important factors so that income streams remain consistent in a retirement portfolio.
To learn more about the Dividend Aristocrats, visit the Standard & Poors Indices Website.
Dividend Aristocrats Stocks List Eligibility
To be eligible for membership in the S&P 500 Dividend Aristocrats list, a company must meet the following criteria (source):
- Be a member of the S&P 500
- Have increased dividends every year for at least 25 consecutive years
- Meet minimum float-adjusted market capitalization and liquidity requirements
S&P maintains the complete eligibility standards of the Dividend Aristocrats list.
The Dividend Champions List is not bound by membership in the S&P 500 index, so smaller companies qualify. In addition, the Champions follow the fiscal year instead of the calendar year.
So the S&P 500 rules may not include certain companies with great dividend histories (such as Parker Hannifin) whose streaks are fiscal year based.
Many dividend growth investors prefer the Dividend Champions, Challengers, and Contenders (CCC) for its more comprehensive range of companies.
But the Dividend Aristocrats are the most famous, so many investors choose to stick with the most well-known list. I’ve chosen to do the same for this exercise to keep the size of the table manageable.
How to Buy the Most Undervalued Dividend Aristocrat Stocks
You can attempt to buy each Dividend Aristocrat stock one at a time or use an ETF such as “NOBL”.
Either way, I’m a big fan of the online broker M1 Finance. With M1 Finance, you can create your own “pie“, a kind of a customized mini-ETF. Then you can buy all the stocks in the pie at once.
Every time you add funds to your account, M1 will automatically buy more of the most undervalued stocks in your portfolio.
M1 Finance is commission-free. The main difference between M1 Finance and old-fashioned brokers is you create your ideal portfolio first, then fund and modify it over time.
M1 is popular for its simplicity and excellent design. Part broker, part robo-advisor. It was founded by a 25-year-old Stanford grad and is geared toward that generation. Super-slick desktop and mobile usage.
Read more: M1 Finance Review
Detailed Scoring Metrics
I’ve updated the table to be dynamically generated in real-time. A Google Sheet feeds the table, which gets its data from the GOOGLEFINANCE function and the SheetsFinance add-on.
TTM P/E Ratio
- 0-10, 5 points
- 10.01-15, 4 points
- 15.01-20, 3 points
- 20.01-30, 2 points
- 30.01-40, 1 point
- >40, 0 points
Forward P/E Ratio
- 0-10, 5 points
- 10.01-15, 4 points
- 15.01-20, 3 points
- 20.01-30, 2 points
- 30.01-40, 1 point
- >400, 0 points
- >4%, 5 points
- 3.01%- 4.0%, 4 points
- 2.01%-3.0%, 3 points
- 1.01%-2.0%, 2 points
- 0.01%-1.0%, 1 point
- No dividend, 0 points
Cash Ratio (Under construction)
- >1.00, 5 points
- 0.75-1.00, 4 points
- 0.50-0.75, 3 point
- 0.25-0.50, 2 point
- 0.1-0.25, 1 point
- 0.01-.1, 0 points
- 0.0-1.0, 5 points
- 1.01-2, 4 points
- 2.01-3, 3 points
- 3.01-4, 2 points
- 4.01, 5, 1 point
- >5.0, 0 points
Price to Book
- 0-2, 5 points
- 2.01-4, 4 points
- 4.01-6, 3 points
- 6.01-8, 2 points
- 8-10, 1 point
- >10, 0 points
- <35%, 5 points
- 35.01%- 45.0%, 4 points
- 45.01%-60.0%, 3 points
- 60.01%-75.0%, 2 points
- 75.01%-90.0%, 1 point
- >90.00% =, 0 points
5-Year Dividend Growth Rate
- >=15%, 5 points
- 10%- 14.99%, 4 points
- 7.5%-9.99%, 3 points
- 5.0%%-7.49%, 2 points
- 2.5%-4.99%, 1 point
- <2.5% =, 0 points
Please provide any feedback you may have in the comments section or by contacting me. I’m happy to consider other metrics or adjusting the methodology as long as the data is available and it fits into the screen.
Why Invest in the Dividend Aristocrats?
Dividend growth investors pay close attention to a few lists of stocks to help quickly weed out companies without a proven long-term dividend commitment.
The most widely used is the S&P Dividend Aristocrats List. Dividend Aristocrats are stocks that are part of the Standard & Poors 500 index and have maintained a continuous dividend payment and growth streak of 25 years or more. They also must meet minimum certain market capitalization and liquidity requirements.
The Dividend Aristocrats are, as their name suggests, an elite group. Today, the list consists of 50 stocks.
Some of the more popular members include Chevron (CVX), Proctor & Gamble (PG), Walmart (WMT), Coca-Cola (KO), and Johnson & Johnson (JNJ).
For dividend investors looking for excellent, wide-moat companies with superior business models and rock-solid management over the years, the Dividend Aristocrats List is a candy store.
For now, I’ve chosen to focus on the Dividend Aristocrats instead of the U.S. Champions, Challengers, and Contenders List (the “CCCs”) to keep the table more manageable. Though I also use the CCC list, many beginner-to-intermediate investors tend to favor the upper crust of dividend payers.
How to Use the Dividend Aristocrats Ranking System to find the Best Dividend Stocks
The ranking system is a STARTING POINT for further research. It’s a quick look at the Dividend Aristocrats list, comparable in one table.
Don’t just go and buy the top ten, that would be short-sighted. But use it to foster investment ideas and then go off and do your own research on the individual stocks. A high or low ranking through my automated system is not a recommendation to buy or sell any stock. Invest at your own risk!
Keep in mind that the data is only as accurate as data providers. All are reliable, but sometimes the table doesn’t update perfectly or the data is wrong. Also, watch out for anomalies. For example, a stock could receive a “5” rating for a high yield, but the company may have lost the investors’ confidence and could be ready to cut the dividend.
Add this Dividend Aristocrats list ranking system to your list of stock research tools.
Photo source: Wikipedia Commons
Craig is a former IT professional who left his 20-year career to be a full-time finance writer. A DIY investor since 1995, he started Retire Before Dad in 2013 as a creative outlet to share his investment portfolios. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Read more HERE.
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