The S&P 500 Dividend Aristocrats is a stock market index composed of the companies in the S&P 500 index that have increased their dividends in each of the past 25 consecutive years. It was launched in May 2005.
Components are added when they reach the 25-year threshold and are removed when they fail to increase their dividend during a calendar year or are removed from the S&P 500. However, a study found that the stock performance of companies improves after they are removed from the index.
There are 67 companies in the index.
|Abbott Laboratories||ABT||Health Care|
|Air Products & Chemicals||APD||Materials|
|Archer-Daniels-Midland Co||ADM||Consumer Staples|
|Atmos Energy Corp||ATO||Utilities|
|Automatic Data Processing||ADP||Information Technology|
|Becton Dickinson & Co||BDX||Health Care|
|Brown & Brown Inc.||BRO||Financials|
|Brown–Forman (class B)||BF.B||Consumer Staples|
|Cardinal Health Inc||CAH||Health Care|
|Church & Dwight||CHD||Consumer Staples|
|Cincinnati Financial Corp||CINF||Financials|
|Coca-Cola Co||KO||Consumer Staples|
|Consolidated Edison Inc||ED||Utilities|
|Essex Property Trust||ESS||Real Estate|
|Expeditors International of Washington||EXPD||Industrials|
|Exxon Mobil Corp||XOM||Energy|
|Federal Realty Investment Trust||FRT||Real Estate|
|Franklin Resources Inc||BEN||Financials|
|Genuine Parts Company||GPC||Consumer Discretionary|
|Hormel Foods Corp||HRL||Consumer Staples|
|Illinois Tool Works||ITW||Industrials|
|The J. M. Smucker Company||SJM||Consumer Staples|
|Johnson & Johnson||JNJ||Health Care|
|Kenvue, Inc.||KVUE||Consumer Staples|
|McCormick & Company||MKC||Consumer Staples|
|McDonald's Corp||MCD||Consumer Discretionary|
|Medtronic plc||MDT||Health Care|
|Procter & Gamble||PG||Consumer Staples|
|Realty Income||O||Real Estate|
|S&P Global Inc||SPGI||Financials|
|Stanley Black & Decker||SWK||Industrials|
|Sysco Corp||SYY||Consumer Staples|
|T Rowe Price Group Inc||TROW||Financials|
|Target Corp||TGT||Consumer Discretionary|
|W. W. Grainger||GWW||Industrials|
|Walgreens Boots Alliance||WBA||Consumer Staples|
|Walmart Inc.||WMT||Consumer Staples|
|West Pharmaceutical Services||WST||Health Care|
Components history Edit
The following are the changes to the components of the index since 2008:
In 2023, four companies were added to the list: CH Robinson Worldwide (CHRW), Nordson (NDSN), J.M. Smucker (SJM) and Kenvue (KVUE). VF Corporation (VFC) was removed after a cut to its dividend.
In 2022, two companies were added to the index: Brown & Brown, Inc. (BRO) and Church & Dwight Co., Inc. (CHD). AT&T Inc. (T) was removed due to its dividend cut and People's United Financial, Inc. (PBCT) was removed when its merger with M&T Bank Corporation was finalized.
In 2021, there were three additions to the index: IBM (IBM), NextEra Energy (NEE) and West Pharmaceutical Services (WST). Five companies were removed from the index: Raytheon (RTX), Carrier Global (CARR), Otis Worldwide (OTIS), Stryker Corporation (SYK) and Leggett & Platt (LEG), which was removed when it moved from the S&P 500 to the S&P MidCap 400.
In 2020, there were 7 additions: Amcor (AMCR), Atmos Energy (ATO), Realty Income Corporation (O), Essex Property Trust (ESS), Ross Stores (ROST), Albemarle Corporation (ALB), and Expeditors International (EXPD) were added to the list effective prior to market open on February 3. United Technologies was renamed Raytheon Technologies after divestment of some divisions and remained in the index. Both spinoffs Carrier Global (CARR) and Otis Worldwide (OTIS) were added to the index effective prior to the market opening on April 3, 2020.
Removals in 2020: Ross Stores (ROST) and Helmerich & Payne (HP). Ross Stores suspended its dividend on May 21 due to the COVID-19 pandemic and was removed from the index prior to market open on July 1, 2020
In 2014, Bemis (BMS) was removed from the S&P 500 index and therefore removed from the index.
In 2013, Pitney Bowes (PBI) was removed after slashing the dividend from 37.5c to 18.75c per quarter per share.
In 2012, CenturyLink (CTL) was removed from the index. The following 9 companies were added to the index: AT&T (T), Colgate-Palmolive (CL), Franklin Templeton Investments (BEN), Genuine Parts Company (GPC), Health Care Property Investors (HCP), Illinois Tool Works (ITW), Medtronic (MDT), Sysco (SYY), and T. Rowe Price (TROW).
In 2010, ten companies were removed from the index: Avery Dennison (AVY), BB&T (BBT), Gannett (GCI), General Electric (GE), Johnson Controls (JCI), Legg Mason (LM), M&T Bank (MTB), Pfizer (PFE), State Street Bank (STT), and U.S. Bancorp (USB). Brown Forman (BF.B) was added.
In 2009, 9 companies were removed from the index: Anheuser Busch (BUD), Bank of America (BAC), Comerica (CMA), Fifth Third Bank (FITB), Keycorp (KEY), Progressive Corp (PGR), Regions Financial (RF), Synovus Financial (SNV), and Wrigley Company (WW), which was acquired by Mars, Incorporated. There were two additions: Bemis Company (BMS) and Leggett & Platt (LEG).
In 2008, the index contained 52 companies.
- "S&P 500 Dividend Aristocrats". S&P Global.
- Strauss, Lawrence C. (February 14, 2020). "When Dividend Aristocrats Lose Their Status, Their Returns Often Improve". Barron's.
- Carrel, Lawrence (July 30, 2020). "As More Firms Cut Dividends, Dividend Aristocrats Show Resilience". Forbes.
- Ciura, Bob (August 1, 2023). "2023 Dividend Aristocrats List". Sure Dividend.
- "S&P Dow Jones Indices Announces Rebalancing Results for the S&P 500 Dividend Aristocrats" (PDF).
- "Constituent Change Announced for the S&P 500 Dividend Aristocrats Index" (PDF). S&P Dow Jones Indices. August 22, 2023.
- Assis, Claudia (February 7, 2023). "North Face parent blows past Wall Street quarterly expectations, cuts dividend". MarketWatch.
- Divine, John (February 10, 2022). "2022's Dividend Aristocrats List: All 65 Stocks". U.S. News & World Report.
- "S&P Dow Jones Indices Announces Rebalancing Results for the S&P 500 Dividend Aristocrats" (PDF). S&P Dow Jones Indices. January 24, 2021.
- "Constituent Change Announced for the S&P 500 Dividend Aristocrats Index" (PDF). S&P Dow Jones Indices. March 29, 2022.
- "Signature Bank, SolarEdge Technologies and FactSet Research Systems Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600" (PDF). S&P Dow Jones Indices. December 3, 2021.
- Strauss, Lawrence C. (February 7, 2020). "The 'Dividend Aristocrats' Add 7 New Members". Barron's.
- Strauss, Lawrence C. (January 26, 2019). "4 Companies Have Joined the 'Dividend Aristocrats' — but Their Stocks Lag the Market". Barron's.
- Soe, Aye M. (December 2008). "S&P 500 Dividend Aristocrats" (html). Standard & Poor's. Social Science Research Network. SSRN 1321681.