Through recessions and economic booms, over decades of market volatility, only eight companies in the S & P 500 have hiked their annual dividends year-in and year-out for at least 60 years. Given the recent turmoil across the banking sector and increased fears of a broader economic downturn, investors seeking to pocket steady income can turn to these companies, which are the most reliable of a group known as “dividend aristocrats.” Many of these companies are well known household names like 3M , Coca-Cola , Colgate-Palmolive , Johnson & Johnson and Procter & Gamble . But the group also includes industrial conglomerate Dover , manufacturing giant Emerson Electric and auto parts maker Genuine Parts . “These companies have had management that have been able to change with the times and adapt to new competition, new technology,” said Howard Silverblatt, senior index analyst at S & P Global Dow Jones Indices. “Companies who have increased for so many years — and this goes for not just 60, but also 10 years — it becomes part of their cultures and they increase even when they can’t.” Take Coca-Cola. It pays an annual dividend of $1.84 per share, and currently has a dividend yield of 3.07%, while the S & P 500’s average dividend yield is 1.65%. The Atlanta-based beverage giant has been using a two-pronged strategy to boost sales by raising prices, while still marketing more affordable products to lower-income customers. The company has also rolled out new drink flavors in recent years and various low-sugar products , such as Coke Zero and Diet Coke, for consumers that have begun to seek out healthier options. Last year, Coca-Cola’s revenue rose 11% to $43 billion , driven by 11% growth from product mix and pricing. In February, Citi analyst Filippo Falorni named Coke one of his top buy-rated picks, saying the company emerged from the pandemic in a much stronger position . Meanwhile, Dover has increased its dividend for 67 years — nearly every year since its…
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