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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

Companies42
Avg yield2.10%
Longest streak9 yrs

DV Scorecard

Our proprietary snapshot of this list — averages and standouts, computed from the companies below. Not investment advice.

Avg Distribution Safety Score™90/100across 42 companies
Median Yield1.54%dividend yield
Median 1-Yr Return+14.6%price change, 1 year
Payout CadenceQuarterlymost common
Avg Expense Ration/a for stocks
Highest YieldWES7.81%
Highest SafetyNIscore 100
Best Safety-Adj. YieldWESsafety 100 · 7.81%

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.

KingsAristocratsChampionsContendersChallengers this page
Streak required50+ years25+ years25+ years10–24 years5–9 years
Must be in the S&P 500NoYesNoNoNo
Company sizeAny — small-caps includedLarge-cap (index rules)Any — broadest 25+ listAnyAny
Think of it asThe all-time greatsThe blue-chip indexThe full 25+ rosterChampions in trainingThe 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.

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.

5 yrs5 yrs · 19 companies · 45% of the list19 · 45%6 yrs6 yrs · 6 companies · 14% of the list6 · 14%7 yrs7 yrs · 2 companies · 5% of the list2 · 5%8 yrs8 yrs · 12 companies · 29% of the list12 · 29%9 yrs9 yrs · 3 companies · 7% of the list3 · 7%

Sector breakdown

How the 42 companies on this list distribute across sectors.

Industrials7
Consumer Discretionary7
Energy6
Financials5
Utilities4
Information Technology3
Healthcare3
Real Estate3
Consumer Staples2
Materials1

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.

long streak · higher yield0%1%2%3%4%5%6%7%8%9%510median 6 yrsmedian 1.5%Consecutive years of dividend increasesCurrent yieldAMAT · Applied Materials Inc. · 8 yrs of increases · 0.35% yield · $420.5BMS · Morgan Stanley · 5 yrs of increases · 1.85% yield · $338.8BGS · Goldman Sachs Group, Inc. · 5 yrs of increases · 1.61% yield · $314.2BWFC · Wells Fargo & Company · 5 yrs of increases · 2.05% yield · $267.8BTMO · Thermo Fisher Scientific Inc. · 8 yrs of increases · 0.34% yield · $197.9BTJX · The TJX Companies Inc. · 5 yrs of increases · 1.10% yield · $170.6BDE · Deere & Company · 6 yrs of increases · 1.11% yield · $161.2BHWM · Howmet Aerospace Inc. · 5 yrs of increases · 0.18% yield · $109.0BPWR · Quanta Services Inc. · 8 yrs of increases · 0.07% yield · $94.3BKKR · KKR & Co. Inc. · 6 yrs of increases · 0.76% yield · $94.1BHCA · HCA Healthcare Inc. · 5 yrs of increases · 0.81% yield · $82.3BROST · Ross Stores Inc. · 5 yrs of increases · 0.72% yield · $74.9BEOG · EOG Resources, Inc. · 8 yrs of increases · 2.89% yield · $74.5BCI · The Cigna Group · 5 yrs of increases · 2.16% yield · $74.5BKMI · Kinder Morgan, Inc. · 8 yrs of increases · 3.60% yield · $71.9BET · Energy Transfer LP · 5 yrs of increases · 6.59% yield · $69.9BAPO · Apollo Global Management Inc. · 5 yrs of increases · 1.73% yield · $69.5BNXPI · NXP Semiconductors N.V. · 8 yrs of increases · 1.48% yield · $67.3BCARR · Carrier Global Corp. · 6 yrs of increases · 1.44% yield · $57.1BLNG · Cheniere Energy, Inc. · 5 yrs of increases · 0.85% yield · $55.0BFANG · Diamondback Energy Inc. · 8 yrs of increases · 2.10% yield · $55.0BVST · Vistra Corp. · 6 yrs of increases · 0.56% yield · $52.4BODFL · Old Dominion Freight Line Inc. · 9 yrs of increases · 0.49% yield · $48.6BGRMN · Garmin Ltd. · 7 yrs of increases · 1.47% yield · $48.1BKDP · Keurig Dr Pepper Inc. · 5 yrs of increases · 3.02% yield · $42.1BYUM · Yum! Brands Inc. · 8 yrs of increases · 1.98% yield · $40.8BMLM · Martin Marietta Materials Inc. · 9 yrs of increases · 0.61% yield · $33.8BVICI · VICI Properties · 8 yrs of increases · 6.77% yield · $29.6BCNP · CenterPoint Energy Inc. · 5 yrs of increases · 2.09% yield · $28.2BOTIS · Otis Worldwide Corporation · 6 yrs of increases · 2.33% yield · $28.2BNRG · NRG Energy Inc. · 5 yrs of increases · 1.39% yield · $27.2BVRSK · Verisk Analytics Inc. · 7 yrs of increases · 0.97% yield · $26.3BPHM · PulteGroup Inc. · 8 yrs of increases · 0.84% yield · $24.0BDRI · Darden Restaurants Inc. · 5 yrs of increases · 3.08% yield · $22.7BNI · NiSource Inc. · 9 yrs of increases · 2.56% yield · $22.0BCTSH · Cognizant Technology Solutions Corporation · 8 yrs of increases · 2.87% yield · $21.2BGIS · General Mills, Inc. · 5 yrs of increases · 6.49% yield · $20.3BSBAC · SBA Communications Corp. · 6 yrs of increases · 2.67% yield · $19.7BWES · Western Midstream Partners LP · 5 yrs of increases · 7.81% yield · $19.0BKIM · Kimco Realty Corp. · 5 yrs of increases · 4.00% yield · $17.6BTXRH · Texas Roadhouse, Inc · 5 yrs of increases · 1.47% yield · $13.0BNYT · The New York Times Company · 8 yrs of increases · 1.10% yield · $12.3BMLMNIAMATPWRVICIWES
bubble size = market capeach companyhighest yieldsmedian streak & yield

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.

← calmer than the market (27 of 42)more volatile →0.00.51.01.52.0market = 1.0β — how much a stock moves when the market movesGIS · General Mills, Inc. · β -0.05 — calmer than the marketLNG · Cheniere Energy, Inc. · β -0.01 — calmer than the marketEOG · EOG Resources, Inc. · β 0.26 — calmer than the marketCI · The Cigna Group · β 0.30 — calmer than the marketFANG · Diamondback Energy Inc. · β 0.41 — calmer than the marketKDP · Keurig Dr Pepper Inc. · β 0.41 — calmer than the marketCNP · CenterPoint Energy Inc. · β 0.45 — calmer than the marketKMI · Kinder Morgan, Inc. · β 0.53 — calmer than the marketNI · NiSource Inc. · β 0.54 — calmer than the marketET · Energy Transfer LP · β 0.55 — calmer than the marketYUM · Yum! Brands Inc. · β 0.56 — calmer than the marketDRI · Darden Restaurants Inc. · β 0.58 — calmer than the marketTJX · The TJX Companies Inc. · β 0.62 — calmer than the marketWES · Western Midstream Partners LP · β 0.65 — calmer than the marketVICI · VICI Properties · β 0.68 — calmer than the marketVRSK · Verisk Analytics Inc. · β 0.69 — calmer than the marketTXRH · Texas Roadhouse, Inc · β 0.80 — calmer than the marketCTSH · Cognizant Technology Solutions Corporation · β 0.86 — calmer than the marketTMO · Thermo Fisher Scientific Inc. · β 0.87 — calmer than the marketROST · Ross Stores Inc. · β 0.88 — calmer than the marketOTIS · Otis Worldwide Corporation · β 0.89 — calmer than the marketDE · Deere & Company · β 0.90 — calmer than the marketGRMN · Garmin Ltd. · β 0.91 — calmer than the marketWFC · Wells Fargo & Company · β 0.92 — calmer than the marketNYT · The New York Times Company · β 0.95 — calmer than the marketKIM · Kimco Realty Corp. · β 0.97 — calmer than the marketSBAC · SBA Communications Corp. · β 1.00 — calmer than the marketMLM · Martin Marietta Materials Inc. · β 1.10 — moves as much or more than the marketHCA · HCA Healthcare Inc. · β 1.13 — moves as much or more than the marketODFL · Old Dominion Freight Line Inc. · β 1.18 — moves as much or more than the marketPHM · PulteGroup Inc. · β 1.19 — moves as much or more than the marketHWM · Howmet Aerospace Inc. · β 1.19 — moves as much or more than the marketNRG · NRG Energy Inc. · β 1.20 — moves as much or more than the marketPWR · Quanta Services Inc. · β 1.22 — moves as much or more than the marketMS · Morgan Stanley · β 1.22 — moves as much or more than the marketGS · Goldman Sachs Group, Inc. · β 1.29 — moves as much or more than the marketCARR · Carrier Global Corp. · β 1.31 — moves as much or more than the marketVST · Vistra Corp. · β 1.41 — moves as much or more than the marketAPO · Apollo Global Management Inc. · β 1.50 — moves as much or more than the marketAMAT · Applied Materials Inc. · β 1.57 — moves as much or more than the marketKKR · KKR & Co. Inc. · β 1.79 — moves as much or more than the marketNXPI · NXP Semiconductors N.V. · β 1.80 — moves as much or more than the marketGISNXPI
β < 1 — calmer than the marketβ ≥ 1 — moves as much or more

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.

< 30%Payout < 30% · 20 companies · 48% of the list20 · 48%30–50%Payout 30–50% · 12 companies · 29% of the list12 · 29%50–75%Payout 50–75% · 7 companies · 17% of the list7 · 17%> 75%Payout > 75% · 3 companies · 7% of the list3 · 7%
≤ 75% of earnings> 75% — thinner cushion

A streak is a track record, not a guarantee

Four things to check before buying anything on streak length alone.

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.

InvestmentAnnual incomeMonthly incomeWeekly 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
MLMMartin Marietta Materials Inc.Materials90.61%9628.7$33.8B$550.66
NINiSource Inc.Utilities92.56%10022.5$22.0B$46.57
ODFLOld Dominion Freight Line Inc.Industrials90.49%9843.1$48.6B$232.80
AMATApplied Materials Inc.TechnologyInformation Technology80.35%9533.6$420.5B$553.92
CTSHCognizant Technology Solutions CorporationIT ConsultingInformation Technology82.87%657.8$21.2B$43.18
EOGEOG Resources, Inc.Oil & Gas ExplorationEnergy82.89%728.0$74.5B$144.00
FANGDiamondback Energy Inc.Energy82.10%668.8$55.0B$203.02
KMIKinder Morgan, Inc.Energy InfrastructureEnergy83.60%9923.4$71.9B$32.49
NXPINXP Semiconductors N.V.TechnologyInformation Technology81.48%9217.9$67.3B$278.80
NYTThe New York Times CompanyCommunication Services81.10%10027.1$12.3B$72.99
PHMPulteGroup Inc.Consumer Discretionary80.84%9912.6$24.0B$126.75
PWRQuanta Services Inc.Industrials80.07%10045.2$94.3B$643.14
TMOThermo Fisher Scientific Inc.Healthcare80.34%9421.4$197.9B$526.46
VICIVICI PropertiesDiversified REITReal Estate86.77%899.3$29.6B$26.58
YUMYum! Brands Inc.Consumer Discretionary81.98%10022.4$40.8B$147.57
GRMNGarmin Ltd.Consumer Discretionary71.47%9626.0$48.1B$240.51
VRSKVerisk Analytics Inc.Industrials70.97%6526.3$26.3B$192.28
CARRCarrier Global Corp.Industrials61.44%7224.5$57.1B$68.10
DEDeere & CompanyAgricultural & Construction EquipmentIndustrials61.11%10025.3$161.2B$607.33
KKRKKR & Co. Inc.Financials60.76%6516.6$94.1B$95.53
OTISOtis Worldwide CorporationElevators & EscalatorsIndustrials62.33%7517.5$28.2B$70.41
SBACSBA Communications Corp.Real Estate62.67%7720.8$19.7B$178.02
VSTVistra Corp.Utilities60.56%7916.9$52.4B$166.74
APOApollo Global Management Inc.Financials51.73%6313.5$69.5B$119.04
CIThe Cigna GroupHealth InsuranceHealthcare52.16%989.3$74.5B$284.85
CNPCenterPoint Energy Inc.Utilities52.09%10022.6$28.2B$43.68
DRIDarden Restaurants Inc.Consumer Discretionary53.08%9717.6$22.7B$193.94
ETEnergy Transfer LPMidstream EnergyEnergy56.59%10012.1$69.9B$20.37
GISGeneral Mills, Inc.Packaged FoodsConsumer Staples56.49%7512.3$20.3B$36.91
GSGoldman Sachs Group, Inc.Investment BankingFinancials51.61%10017.2$314.2B$1,098.20
HCAHCA Healthcare Inc.Healthcare50.81%9312.4$82.3B$371.87
HWMHowmet Aerospace Inc.Industrials50.18%10052.9$109.0B$280.70
KDPKeurig Dr Pepper Inc.Consumer Staples53.02%9113.4$42.1B$30.20
KIMKimco Realty Corp.Real Estate54.00%9035.6$17.6B$26.14
LNGCheniere Energy, Inc.Energy50.85%9817.1$55.0B$267.40
MSMorgan StanleyInvestment BankingFinancials51.85%10017.7$338.8B$218.50
NRGNRG Energy Inc.Utilities51.39%8313.6$27.2B$139.98
ROSTRoss Stores Inc.Consumer Discretionary50.72%10030.4$74.9B$238.21
TJXThe TJX Companies Inc.Consumer Discretionary51.10%10029.7$170.6B$155.41
TXRHTexas Roadhouse, IncRestaurantsConsumer Discretionary51.47%10030.8$13.0B$191.43
WESWestern Midstream Partners LPMidstream EnergyEnergy57.81%10015.4$19.0B$47.06
WFCWells Fargo & CompanyDiversified BankingFinancials52.05%9812.4$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.

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