June 13, 2024

The Art of Investment

Mastering the Stock Market Strategies

10 Dividend Growth Stocks: April 2024

8 min read
Golden Top Ten Sign with Laurel Wreath on a Golden Product Presentation Podium Stage with Spotlights. 3d Rendering

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In my 10 Dividend Growth Stocks series, I rank a selection of Dividend Radar stocks and present the ten top-ranked stocks for further research and possible investment. Dividend Radar is a weekly automatically generated spreadsheet of dividend growth [DG] stocks with dividend

Proj-DGR = min(30%,average(min(D,E,R),median(D,E,R)))

where:

  • D = 5-DGR
  • E = 5-EGR
  • R = 5-RGR

  • Yrs: years of consecutive dividend increases
  • Qual: Quality score out of 30
  • Fwd Yield: forward dividend yield for a recent share Price
  • 5-Avg Yield: 5-year average dividend yield
  • 5-DGR: 5-year compound annual growth rate of the dividend
  • Proj DGR: my projected dividend growth rate
  • 5-YOC: the projected yield on cost after five years of investment
  • ACN: Adjusted Chowder Number
  • 5-TTR: 5-year compound trailing total return
  • FV Est: my fair value estimate
  • FV -Disc +Prem: discount or premium of the recent share Price to my FV Est
  • Buy Below: my risk-adjusted buy-below price
  • -Disc +Prem: discount or premium of the recent share Price to my Buy Below price
  • Price: recent share price

Color-coding

  • Ticker: highlighted for stocks I own in my DivGro portfolio

  • Qual: for color scheme, see DVK Quality Snapshots

  • Fwd Yield: green if Fwd Yield5-Avg Yield

  • 5-YOC: green if 5-YOC ≥ 4.0%, yellow if 5-YOC ≥ 2.5% (but less than 4.0%), and red if 5-YOC < 2.5%

  • ACN: colored based on the likelihood of delivering annualized returns of 8%, according to the Chowder Rule: green means likely, yellow means less likely, and red means unlikely

  • Price: green if PriceBuy Below

Rank Company (Ticker) Sector Supersector
1 Microsoft (MSFT) Information Technology Sensitive
2 Visa (V) Financials Cyclical
3 UnitedHealth (UNH) Health Care Defensive
4 Franklin Electric (FELE) Industrials Sensitive
5 Mastercard (MA) Financials Cyclical
6 Brown & Brown (BRO) Financials Cyclical
7 Lowe’s (LOW) Consumer Discretionary Cyclical
8 Accenture plc (ACN) Information Technology Sensitive
9 Marsh & McLennan (MMC) Financials Cyclical
10 NextEra Energy (NEE) Utilities Defensive

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