Dividend Lists
Dividend Challengers List 2026
U.S.-listed companies with 5 to 9 consecutive years of dividend increases — the youngest tier of the dividend-growth pipeline.
Updated July 2026 · 42 companies
DV Scorecard
Our proprietary snapshot of this list — averages and standouts, computed from the companies below. Not investment advice.
The 2026 overview
Every company here has raised its dividend for at least 5 straight years — a record that, by definition, has paid a growing income through every recession, rate shock, and market crash of the past half-decade. This page tracks 42 of them with live market data, and the longest active streak belongs to MLM (Martin Marietta Materials Inc.) at 9 years.
Membership clusters in essential-demand businesses — Industrials, Consumer Discretionary and Energy lead the list — where steady cash flow funds a rising payout. The reward for that conservatism shows up as lower volatility rather than headline yield: 27 of the 42 move less than the market, while the median yield sits at just 1.5%.
A long streak is a track record, not a verdict. The charts and each company's Distribution Safety Score below help separate the durable payers — the group runs a 32% median payout ratio, leaving real room to keep raising — from any name propping up a famous streak. None of this is investment advice.
What are Dividend Challengers?
Dividend Challengers are U.S.-listed companies with 5 to 9 consecutive years of dividend increases — the entry tier of the “Dividend Champions, Contenders & Challengers” (CCC) data set. Five straight raises is where a dividend habit starts to look like a dividend policy, and this tier is where you find them earliest: companies fresh off a spin-off, businesses that initiated a payout after years of pure growth, and names rebuilding a streak after a past cut. The trade-off for catching them early is a shorter track record, so pairing the streak with payout coverage matters more here than anywhere else in the CCC family.
The dividend-streak clubs compared
Five clubs, one axis of difference: how long the increase streak must run (plus, for Aristocrats, S&P 500 membership). A streak climbs the ladder from Challenger to King — and a single cut resets it to zero.
| Kings | Aristocrats | Champions | Contenders | Challengers this page | |
|---|---|---|---|---|---|
| Streak required | 50+ years | 25+ years | 25+ years | 10–24 years | 5–9 years |
| Must be in the S&P 500 | No | Yes | No | No | No |
| Company size | Any — small-caps included | Large-cap (index rules) | Any — broadest 25+ list | Any | Any |
| Think of it as | The all-time greats | The blue-chip index | The full 25+ roster | Champions in training | The newest streaks |
Who this page is for
Best for
- Investors hunting the earliest stage of the dividend-growth pipeline
- Growth-and-income investors who accept a shorter record for faster dividend growth
- Screeners watching for future Contenders and Champions
Not a fit for
- Conservative income investors who want decades-tested streaks — see Champions or Kings
- Anyone who equates a 5-year streak with a proven commitment; it's a start, not a verdict
- Income maximizers chasing headline yield
The leaders
The five longest active increase streaks, and the five highest current yields. Every row links to full analysis.
Longest streaks
Streak length distribution
How the 42 streaks spread across the 5–9 year window. Crossing the 5-year bar is the entry ticket — and any streak that reaches 10 years graduates out of this tier entirely.
Sector breakdown
How the 42 companies on this list distribute across sectors.
Endurance vs. yield
Every company on one canvas: streak length across, current yield up, bubble sized by market cap. The medians (6 yrs, 1.5%) split the field into quadrants — the gold zone is the rare combination of an above-median streak and above-median income. Hover any bubble for the name and numbers.
The sleep-well factor
Each dot is one company's beta — how hard it moves when the market moves. 27 of the 42 sit left of the market line: historically calmer than the index. That muted volatility, not headline yield, is what long-streak dividend growers are prized for.
Payout headroom
Share of earnings paid out as dividends. The median here is 32%, and only 3 companies pay out more than 75% — the rest keep a real earnings cushion behind the next raise. Coverage like this, not the streak itself, is what keeps a streak alive.
A streak is a track record, not a guarantee
Four things to check before buying anything on streak length alone.
- Token raises can defend a famous streak. A company can keep a 50-year run alive with ~1% bumps while the business stalls — check the dividend growth rate on the ticker page, not just the streak.
- An unusually high yield is a question, not a gift. When one name yields far above the rest of the list, the market is usually pricing in doubt about the payout. Start with payout ratio and cash flow.
- Coverage beats history. Dividends are paid from future earnings, not past discipline — the payout-headroom chart above says more about the next raise than the streak does.
- Survivorship hides the failures. This list only shows streaks that survived; members that froze or cut are quietly gone. Treat membership as a starting screen, then verify each name.
Key terms for reading this list
Income projection
Estimated income at the list's 2.10% average yield. For illustration only — actual income varies by which companies you hold.
| Investment | Annual income | Monthly income | Weekly income |
|---|---|---|---|
| $10,000 | $210 | $18 | $4 |
| $25,000 | $526 | $44 | $10 |
| $50,000 | $1,052 | $88 | $20 |
| $100,000 | $2,104 | $175 | $40 |
All 42 Dividend Challengers
Sorted by streak length. Click any column header to re-sort. Tickers link to full analysis.
| Ticker | Company | Sector | Streak | Yield | Distribution Safety Score™ ⓘ | Fwd P/E | Market cap | Price |
|---|---|---|---|---|---|---|---|---|
| MLM | Martin Marietta Materials Inc. | Materials | 9 | 0.61% | 96 | 28.7 | $33.8B | $550.66 |
| NI | NiSource Inc. | Utilities | 9 | 2.56% | 100 | 22.5 | $22.0B | $46.57 |
| ODFL | Old Dominion Freight Line Inc. | Industrials | 9 | 0.49% | 98 | 43.1 | $48.6B | $232.80 |
| AMAT | Applied Materials Inc.Technology | Information Technology | 8 | 0.35% | 95 | 33.6 | $420.5B | $553.92 |
| CTSH | Cognizant Technology Solutions CorporationIT Consulting | Information Technology | 8 | 2.87% | 65 | 7.8 | $21.2B | $43.18 |
| EOG | EOG Resources, Inc.Oil & Gas Exploration | Energy | 8 | 2.89% | 72 | 8.0 | $74.5B | $144.00 |
| FANG | Diamondback Energy Inc. | Energy | 8 | 2.10% | 66 | 8.8 | $55.0B | $203.02 |
| KMI | Kinder Morgan, Inc.Energy Infrastructure | Energy | 8 | 3.60% | 99 | 23.4 | $71.9B | $32.49 |
| NXPI | NXP Semiconductors N.V.Technology | Information Technology | 8 | 1.48% | 92 | 17.9 | $67.3B | $278.80 |
| NYT | The New York Times Company | Communication Services | 8 | 1.10% | 100 | 27.1 | $12.3B | $72.99 |
| PHM | PulteGroup Inc. | Consumer Discretionary | 8 | 0.84% | 99 | 12.6 | $24.0B | $126.75 |
| PWR | Quanta Services Inc. | Industrials | 8 | 0.07% | 100 | 45.2 | $94.3B | $643.14 |
| TMO | Thermo Fisher Scientific Inc. | Healthcare | 8 | 0.34% | 94 | 21.4 | $197.9B | $526.46 |
| VICI | VICI PropertiesDiversified REIT | Real Estate | 8 | 6.77% | 89 | 9.3 | $29.6B | $26.58 |
| YUM | Yum! Brands Inc. | Consumer Discretionary | 8 | 1.98% | 100 | 22.4 | $40.8B | $147.57 |
| GRMN | Garmin Ltd. | Consumer Discretionary | 7 | 1.47% | 96 | 26.0 | $48.1B | $240.51 |
| VRSK | Verisk Analytics Inc. | Industrials | 7 | 0.97% | 65 | 26.3 | $26.3B | $192.28 |
| CARR | Carrier Global Corp. | Industrials | 6 | 1.44% | 72 | 24.5 | $57.1B | $68.10 |
| DE | Deere & CompanyAgricultural & Construction Equipment | Industrials | 6 | 1.11% | 100 | 25.3 | $161.2B | $607.33 |
| KKR | KKR & Co. Inc. | Financials | 6 | 0.76% | 65 | 16.6 | $94.1B | $95.53 |
| OTIS | Otis Worldwide CorporationElevators & Escalators | Industrials | 6 | 2.33% | 75 | 17.5 | $28.2B | $70.41 |
| SBAC | SBA Communications Corp. | Real Estate | 6 | 2.67% | 77 | 20.8 | $19.7B | $178.02 |
| VST | Vistra Corp. | Utilities | 6 | 0.56% | 79 | 16.9 | $52.4B | $166.74 |
| APO | Apollo Global Management Inc. | Financials | 5 | 1.73% | 63 | 13.5 | $69.5B | $119.04 |
| CI | The Cigna GroupHealth Insurance | Healthcare | 5 | 2.16% | 98 | 9.3 | $74.5B | $284.85 |
| CNP | CenterPoint Energy Inc. | Utilities | 5 | 2.09% | 100 | 22.6 | $28.2B | $43.68 |
| DRI | Darden Restaurants Inc. | Consumer Discretionary | 5 | 3.08% | 97 | 17.6 | $22.7B | $193.94 |
| ET | Energy Transfer LPMidstream Energy | Energy | 5 | 6.59% | 100 | 12.1 | $69.9B | $20.37 |
| GIS | General Mills, Inc.Packaged Foods | Consumer Staples | 5 | 6.49% | 75 | 12.3 | $20.3B | $36.91 |
| GS | Goldman Sachs Group, Inc.Investment Banking | Financials | 5 | 1.61% | 100 | 17.2 | $314.2B | $1,098.20 |
| HCA | HCA Healthcare Inc. | Healthcare | 5 | 0.81% | 93 | 12.4 | $82.3B | $371.87 |
| HWM | Howmet Aerospace Inc. | Industrials | 5 | 0.18% | 100 | 52.9 | $109.0B | $280.70 |
| KDP | Keurig Dr Pepper Inc. | Consumer Staples | 5 | 3.02% | 91 | 13.4 | $42.1B | $30.20 |
| KIM | Kimco Realty Corp. | Real Estate | 5 | 4.00% | 90 | 35.6 | $17.6B | $26.14 |
| LNG | Cheniere Energy, Inc. | Energy | 5 | 0.85% | 98 | 17.1 | $55.0B | $267.40 |
| MS | Morgan StanleyInvestment Banking | Financials | 5 | 1.85% | 100 | 17.7 | $338.8B | $218.50 |
| NRG | NRG Energy Inc. | Utilities | 5 | 1.39% | 83 | 13.6 | $27.2B | $139.98 |
| ROST | Ross Stores Inc. | Consumer Discretionary | 5 | 0.72% | 100 | 30.4 | $74.9B | $238.21 |
| TJX | The TJX Companies Inc. | Consumer Discretionary | 5 | 1.10% | 100 | 29.7 | $170.6B | $155.41 |
| TXRH | Texas Roadhouse, IncRestaurants | Consumer Discretionary | 5 | 1.47% | 100 | 30.8 | $13.0B | $191.43 |
| WES | Western Midstream Partners LPMidstream Energy | Energy | 5 | 7.81% | 100 | 15.4 | $19.0B | $47.06 |
| WFC | Wells Fargo & CompanyDiversified Banking | Financials | 5 | 2.05% | 98 | 12.4 | $267.8B | $86.42 |
Streak = consecutive years of dividend increases (curated). Yield, price, and market cap update with our data pipeline. Safety = Dividend Vision's own Distribution Safety Score™ (0–100), computed by our published scorer from payout coverage, dividend trend, and volatility — the same score shown in the screener and ticker pages. Not investment advice.
ETFs for Dividend Challengers exposure
DGRO's index requires 5+ consecutive years of increases — the Challenger entry bar — so it holds many of these names alongside longer-streak growers. No fund tracks the 5–9 year tier alone.
Frequently asked questions
How many Dividend Challengers are on this list?
This page tracks 42 Dividend Challengers with live market data, sorted by the length of their consecutive dividend-increase streak.
What is the average yield of the Dividend Challengers?
The average dividend yield across the 42 companies on this list is 2.10%.
How often is this list updated?
Membership is curated from public dividend-streak data; yields, prices, and market caps refresh from our data pipeline. Last updated July 2026.
What is a Dividend Challenger?
A Dividend Challenger is a U.S.-listed company that has increased its dividend for 5 to 9 consecutive years — the youngest tier of the CCC (Champions, Contenders & Challengers) data set, below the 10–24 year Contenders and the 25+ year Champions.
Why does the streak clock start over after a dividend cut?
A single cut or freeze resets the consecutive-increase count to zero, no matter how long the prior streak ran. Several well-known companies on this list are rebuilding after a 2020 cut or pause — the business may be decades old even though the streak is young.
Are Challengers riskier than Champions?
The streak itself proves less — five years may not include a full recession, so a Challenger's raise history is a weaker durability signal than a Champion's 25 years. That doesn't make the companies weak; it means payout ratio, cash flow, and the Distribution Safety Score carry more of the analysis.
How is this list maintained?
The CCC data set is community-maintained and updated monthly. This page reflects the 42 Challengers we currently match to live market data.
Explore more
Dividend Kings
The elite tier: 50+ consecutive years of dividend growth.
Dividend Aristocrats
S&P 500 companies with 25+ consecutive years of dividend increases.
Dividend Champions
Every U.S. company with 25+ years of increases — no index-membership requirement.
Dividend Contenders
The next generation: 10–24 consecutive years of dividend increases.
Best Dividend Growth ETFs
ETF baskets built on rising payouts — SCHD, VIG, DGRO and friends.
Learn the method
The metrics and risks behind this list, explained in the Academy.
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