Dover Corporation Offers Half A Century's Of Dividend Growth

Dover (NYSE:DOV) might not have the same name recognition as dividend stalwarts like Exxon Mobil (NYSE:XOM) or McDonald’s (NYSE:MCD), but it does have one important thing in common — a great track record of consistently increasing dividends (in DOV’s case, 56 years). And that’s exactly the kind of thing that sets “hidden gems” apart from just “lesser-known stocks.”

With cash and free cash flow levels running close to $2 billion in any quarter, Dover has been able to finance its conversion into a payout-boosting machine: What was a 15-cent quarterly payout in 2004 has more than doubled to its current 35 cents. While that only translates to a modest yield of slightly more than 2%, DOV’s dividend payout ratio stands at just under 30%. That means DOV has more than enough room to stretch out that dividend in the future.

Source: InvestorPlace

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