This week brings 12 companies announcing dividend increases. Each represents an opportunity for income-focused investors seeking growing payouts.
Companies that regularly raise their dividends demonstrate financial strength and management’s confidence in future prospects. Dividend increases signal reliable cash flow generation and thoughtful capital allocation. This week’s selections all have a proven track record of annual dividend growth, with each company maintaining at least 5 years of consecutive increases.
A few highlights from this week’s list:
- Average dividend increase: 4.6% (median: 3.8%)
- Average dividend streak: 15.5 years (median: 13.0 years)
My strategy focuses on buying, holding, and adding to positions in companies that raise their dividends annually and have the potential to outperform relevant benchmarks over time.
Why Dividend Increases Matter
Think of dividend increases as a company’s report card. They show management can generate cash, allocate capital wisely, and maintain confidence in future growth—all while rewarding shareholders. This balance is rare and valuable. Companies that consistently raise dividends often deliver superior returns over time, and those increasing payouts help protect your purchasing power as prices rise.
How I Create the Lists
Additionally, the information presented here is the result of combining multiple data sources: the U.S. Dividend Champions spreadsheet provides the universe of companies I review, and then upcoming dividend announcements. This combination joins data on companies with a track record of consistent dividend growth and the timeliness of their dividend increases. It’s important to note that every company on this list has a minimum of 5 years of dividend growth history.
To be considered for this list, a company must offer higher total annual dividends. Although a company might not increase its dividend every calendar year, its overall annual dividend can still grow.
What Is the Ex-Dividend Date?
The ex-dividend date is when you must own shares to qualify for an upcoming dividend or distribution. To be eligible, you must have bought the shares by the end of the preceding business day. For instance, if the ex-dividend date is Tuesday, you must have acquired the shares by the market close on Monday. If the ex-dividend date falls on a Monday (or a Tuesday following a holiday on Monday), you must have purchased the shares by the previous Friday.
Dividend Streak Categories
Here are the definitions of the streak categories that I’ll use throughout the piece.
- King: 50+ years.
- Champion/Aristocrat: 25+ years.
- Contender: 10-24 years.
- Challenger: 5+ years.
| Category | Count |
| King | 1 |
| Champion | 0 |
| Contender | 8 |
| Challenger | 3 |
This Week’s Dividend Increases
The data is sorted by the ex-dividend date (ascending) and then by the streak (descending):
| Name | Ticker | Streak | Forward Yield | Ex-Div Date | Increase Percent | Streak Category |
| Brunswick Corporation | BC | 13 | 1.97 | 23-Feb-2026 | 2.33% | Contender |
| Tractor Supply Company | TSCO | 16 | 1.83 | 24-Feb-2026 | 4.35% | Contender |
| Xylem Inc. Common Stock New | XYL | 15 | 1.33 | 24-Feb-2026 | 7.50% | Contender |
| S&P Global Inc. | SPGI | 52 | 0.93 | 25-Feb-2026 | 1.04% | King |
| Equinix, Inc. | EQIX | 11 | 2.23 | 25-Feb-2026 | 10.02% | Contender |
| Penske Automotive Group, Inc. | PAG | 5 | 3.33 | 25-Feb-2026 | 1.45% | Challenger |
| First BanCorp. New | FBP | 8 | 3.56 | 26-Feb-2026 | 11.11% | Challenger |
| Brookfield Infrastructure Partners LP Limited Partn… | BIP | 18 | 4.81 | 27-Feb-2026 | 5.81% | Contender |
| Brookfield Renewable Partners L.P. Limited Partners… | BEP | 16 | 4.99 | 27-Feb-2026 | 5.09% | Contender |
| Power Integrations, Inc. | POWI | 13 | 1.92 | 27-Feb-2026 | 2.38% | Contender |
| National Bank Holdings Corporation | NBHC | 10 | 3.08 | 27-Feb-2026 | 3.23% | Contender |
| Peoples Financial Services Corp. | PFIS | 9 | 4.53 | 27-Feb-2026 | 1.13% | Challenger |
Understanding the Data
Streak: Years of dividend growth history are sourced from the U.S. Dividend Champions spreadsheet.
Forward Yield: The payout rate is calculated by dividing the new payout rate by the current share price.
Ex-Dividend Date: This is the date by which you must own the stock to receive the dividend.
Increase Percent: The percent increase.
Streak Category: This is the company’s overall dividend history classification.
Show Me the Money
Here is a table that shows the new and old rates and the percentage increase. The table is sorted by ex-dividend day in ascending order and dividend streak in descending order.
| Ticker | Old Rate | New Rate | Increase |
| BC | 0.43 | 0.44 | 2.33% |
| TSCO | 0.23 | 0.24 | 4.35% |
| XYL | 0.40 | 0.43 | 7.50% |
| SPGI | 0.96 | 0.97 | 1.04% |
| EQIX | 4.69 | 5.16 | 10.02% |
| PAG | 1.38 | 1.40 | 1.45% |
| FBP | 0.18 | 0.20 | 11.11% |
| BIP | 0.43 | 0.46 | 5.81% |
| BEP | 0.37 | 0.39 | 5.09% |
| POWI | 0.21 | 0.22 | 2.38% |
| NBHC | 0.31 | 0.32 | 3.23% |
| PFIS | 0.62 | 0.63 | 1.13% |
Additional Metrics
Here are additional metrics related to these companies. Some data points include yearly pricing action and the P/E ratio. The table is sorted the same way as the table above.
| Ticker | Price | 52W Low | 52W High | PE Ratio | % Off Low | % Off High |
| BC | 89.22 | 41.00 | 90.25 | 17.34 | 118% Off Low | 1% Off High |
| TSCO | 52.54 | 46.85 | 63.99 | 21.31 | 12% Off Low | 18% Off High |
| XYL | 129.24 | 100.47 | 154.27 | 79.47 | 29% Off Low | 16% Off High |
| SPGI | 419.38 | 381.61 | 579.05 | 33.67 | 10% Off Low | 28% Off High |
| EQIX | 923.85 | 701.41 | 992.90 | 136.86 | 32% Off Low | 7% Off High |
| PAG | 168.18 | 134.05 | 189.51 | 10.32 | 25% Off Low | 11% Off High |
| FBP | 22.48 | 16.40 | 23.43 | 21.95 | 37% Off Low | 4% Off High |
| BIP | 38.27 | 25.72 | 39.85 | 0.00 | 49% Off Low | 4% Off High |
| BEP | 31.29 | 19.29 | 32.78 | 0.00 | 62% Off Low | 5% Off High |
| POWI | 45.90 | 30.86 | 68.20 | 21.08 | 49% Off Low | 33% Off High |
| NBHC | 41.55 | 32.83 | 43.44 | 13.17 | 27% Off Low | 4% Off High |
| PFIS | 55.63 | 38.90 | 57.71 | 11.07 | 43% Off Low | 4% Off High |
Tickers by Yield and Growth Rates
I’ve organized the table in descending order, allowing investors to prioritize the current yield. Additionally, the table includes some historical dividend growth rates. I’ve also incorporated the “Chowder Rule,” which combines the current yield with the five-year dividend growth rate.
| Ticker | Yield | 1 Yr DG | 3 Yr DG | 5 Yr DG | 10 Yr DG | Chowder Rule |
| BEP | 4.99 | 5.1 | 5.2 | 5.2 | 5.4 | 10.1 |
| BIP | 4.81 | 6.2 | 6.1 | 5.9 | 7.3 | 10.7 |
| PFIS | 4.53 | 20.2 | 16.1 | 11.4 | 7.1 | 15.8 |
| FBP | 3.56 | 12.5 | 16.1 | 29.2 | 32.8 | |
| PAG | 3.33 | 26.7 | 35.8 | 43.9 | 18.6 | 47.3 |
| NBHC | 3.08 | 7.1 | 8.5 | 8.4 | 19.6 | 11.4 |
| EQIX | 2.23 | 10.1 | 14.8 | 12.0 | 10.7 | 14.0 |
| BC | 1.97 | 2.4 | 5.6 | 11.7 | 12.6 | 13.7 |
| POWI | 1.92 | 3.7 | 5.3 | 14.9 | 13.3 | 16.8 |
| TSCO | 1.83 | 4.5 | 7.7 | 25.1 | 19.7 | 26.9 |
| XYL | 1.33 | 11.1 | 10.1 | 9.0 | 11.0 | 10.3 |
| SPGI | 0.93 | 5.5 | 5.0 | 7.5 | 11.3 | 8.5 |
Investment Considerations
Dividend Increases This Week: Top Picks
While all 12 companies in this week’s list demonstrate commitment to dividend growth, several stand out as particularly compelling investment opportunities for dividend-focused investors.
First BanCorp. New (FBP)
- Landed a 11.11% dividend raise, one of the week’s best
- Building a 8-year track record of dividend growth
- Yielding 3.56%, attractive for income-focused investors
- Strong 5-year dividend growth rate of 29.2%
Equinix, Inc. (EQIX)
- Raised dividends by 10.02%, among the week’s top increases
- Building a 11-year track record as a Contender
- Yields 2.23%, balancing income and growth
- Five-year dividend growth rate of 12.0%
Xylem Inc. Common Stock New (XYL)
- Increased dividends by 7.50%
- Building a 15-year track record as a Contender
- Lower yield at 1.33% with a focus on growth over income
Brookfield Infrastructure Partners LP Limited Partn… (BIP)
- Boosted dividends 5.81%
- 18 years of raises—solid Contender standing
- Forward yield of 4.81% is attractive for yield seekers
- P/E of 0.00 suggests attractive valuation
Brookfield Renewable Partners L.P. Limited Partners… (BEP)
- Increased dividends by 5.09%
- Building a 16-year track record as a Contender
- Current yield of 4.99% supports income-oriented portfolios
- P/E of 0.00 suggests attractive valuation
Tractor Supply Company (TSCO)
- Raised dividends 4.35%
- Building a 16-year track record as a Contender
- Low 1.83% yield but strong dividend growth focus
- 5-year dividend growth at 25.1% demonstrates commitment
National Bank Holdings Corporation (NBHC)
- Raised payouts by 3.23%
- Contender status with 10 consecutive years of dividend increases
- Offers 3.08% yield with solid income potential
- Reasonable valuation with P/E ratio of 13.17
Power Integrations, Inc. (POWI)
- Lifted the payout by 2.38%
- Contender with 13 years of dividend growth
- Yield of 1.92% with emphasis on payout growth
- 5-year dividend growth averaging 14.9% annually
Brunswick Corporation (BC)
- Announced a 2.33% payout raise
- 13 years of raises—solid Contender standing
- Modest 1.97% yield, prioritizing dividend growth over current income
- P/E of 17.34 is in a reasonable range
- 5-year dividend growth averaging 11.7% annually
Penske Automotive Group, Inc. (PAG)
- Bumped the dividend 1.45%
- On a 5-year run of annual dividend raises
- Offers 3.33% yield with solid income potential
- Valuation looks attractive at a P/E of 10.32
- Strong 5-year dividend growth rate of 43.9%
Peoples Financial Services Corp. (PFIS)
- Announced a 1.13% payout raise
- Building a 9-year track record of dividend growth
- Yielding 4.53%, attractive for income-focused investors
- Valuation looks attractive at a P/E of 11.07
- 5-year dividend growth averaging 11.4% annually
S&P Global Inc. (SPGI)
- Raised dividends 1.04%
- Maintains an exceptional 52-year dividend growth streak, achieving King status
- Low 0.93% yield but strong dividend growth focus
For more detailed information about stock return calculations for these companies, you can use our Stock Return Calculator with SCHD (our benchmark) pre-loaded for a 10-year analysis. Part 1 includes SCHD and BC, TSCO, XYL, SPGI, EQIX, PAG. Part 2 includes SCHD and FBP, BIP, BEP, POWI, NBHC, PFIS.
Historical Returns
My investment strategy focuses on identifying stocks that consistently outperform the market and grow their dividend payouts over time. For broad exposure to U.S. equity markets, excluding the REIT sector, I recommend the Schwab U.S. Dividend Equity ETF (SCHD).
SCHD features strong historical performance, offers a yield that exceeds that of the S&P 500, and consistently delivers increasing dividends. With over $70 billion in assets, it’s an incredibly popular dividend-growth ETF. The ten-year dividend growth rate is one of the four key factors that SCHD tracks in its index.
Note: The benchmark used in analysis may vary by week. Check the chart analysis sections for the specific benchmark used.
Group 1 Results
From this group, we start with SCHD, our benchmark, offering investors about a 189% total return over the past decade.
Analyzing the first group of stocks (BC, TSCO, XYL, SPGI, EQIX, PAG) alongside SCHD reveals significant performance divergence. Equinix, Inc. (EQIX) emerged as the clear standout, delivering exceptional total returns that significantly outpaced both the benchmark and other group members. EQIX’s strong performance reflects the company’s position in the data center REIT sector, where growing demand for digital infrastructure has driven substantial shareholder returns. The company’s 10.02% dividend increase, while impressive, represents just one component of EQIX’s overall value creation story.
Conversely, Brunswick Corporation (BC) struggled within this group, posting weaker total returns over the analysis period. Despite maintaining a solid 13-year dividend growth streak and offering a reasonable 1.97% yield, BC’s performance lagged significantly. This underperformance highlights an important lesson: even companies with strong dividend growth histories can face headwinds from sector-specific challenges, cyclical market dynamics, or broader economic factors affecting consumer discretionary stocks. Investors should note that BC’s dividend reliability doesn’t guarantee capital appreciation, though the income component remains valuable for income-focused portfolios.
The remaining stocks in this group (TSCO, XYL, SPGI, PAG) showed mixed results, with performance varying based on their individual business fundamentals and market positioning. S&P Global Inc. (SPGI), with its exceptional 52-year King status dividend streak, demonstrated steady performance, while Tractor Supply Company (TSCO) and Xylem Inc. (XYL) showed competitive results relative to the benchmark. This diversity within a single group underscores the importance of company-specific analysis beyond dividend metrics alone.
Group 2 Results
Let’s take a closer look at group 2 now.
The second group (FBP, BIP, BEP, POWI, NBHC, PFIS) presented a more competitive landscape with tighter performance clustering. First BanCorp. New (FBP) claimed the top spot, with its impressive 11.11% dividend increase and strong regional banking fundamentals translating to solid returns. FBP’s performance reflects the strength of well-managed regional banks, which often combine attractive yields with steady dividend growth. The company’s 3.56% yield and exceptional 29.2% five-year dividend growth rate demonstrate its commitment to shareholder returns.
Notably, SCHD performed competitively in this group, demonstrating that the ETF’s diversified approach can hold its own against individual stock selections. The Brookfield infrastructure and renewable energy partnerships (BIP and BEP) showed strong performance, with their attractive yields (4.81% and 4.99% respectively) and consistent dividend growth making them appealing for income-focused investors. Both partnerships maintained solid Contender status with 18 and 16 years of dividend growth respectively.
Other group members like Peoples Financial Services Corp. (PFIS) with its attractive 4.53% yield, National Bank Holdings Corporation (NBHC) with its reasonable valuation and 3.08% yield, and Power Integrations, Inc. (POWI) with its strong 14.9% five-year dividend growth rate, each brought unique characteristics to the group. This balanced performance profile suggests that investors in this group could construct a diversified portfolio without worrying about missing a single standout opportunity.
Based on this analysis and further due diligence, I have included several companies in my portfolio and will sometimes make timely purchases of existing holdings. The charts below assume dividends are reinvested.
I’d love to hear your thoughts on my strategy, so feel free to share yours in the comments below! As always, do your due diligence before making any investment decisions.
