Whatever the market condition, it’s always wise to review one's portfolio, and if it’s tilted toward income, include time-tested investments. In my case, I’m choosing Dividend Kings: those that have increased their dividends for at least the last 50 consecutive years. That said, many of these companies raise their dividends by as low as 0.1% annually just to maintain the title. That's not what I call very “kingly.”

As they say, past performance does not guarantee future returns. However, it’s how all funds are sold. So, while there’s no guarantee of the future, I’m interested in coming up with a list of 3 Dividend Kings with the highest dividend increases over the years - because they’ll likely continue to increase the payout down the line.

How I Came Up With The Following Dividend Kings

For this analysis, I made use of Barchart’s free stock screening tool and applied the following watchlist and filters: 

• Watchlist: Kings, so I can only see companies who have increased their dividend payout for over 50 years. I also have a pre-made watchlist for various types of stocks.
• Current Analyst Rating: 4 to 5 (higher-end of moderate buy to strong buy rating), to find the highest-rated Dividend Kings.
• Number of Analysts: Minimum of 12 analysts. More analysts mean a more reliable consensus.
• 5-YR Dividend Growth: I purposely left this blank to able to sort for the Dividend Kings with the highest 5-yr dividend growth rate.

After hitting “SEE RESULTS,” I was left with 13 companies, and for this article, I’ll discuss the 3 Dividend Kings with the highest dividend growth rates, which are: Lowe's Companies, Parker-Hannifin Corp, and Abbott Laboratories (ABT).  

Lowe's Companies (LOW)

Lowe’s Companies is one of the largest home improvement companies worldwide, and its products are embedded deep within the American household. That’s because Lowe’s Companies caters to all sorts of home improvement projects you can think of, which is why it’s the go-to option for professional house builders - and even weekend DIYers like myself. 

The giant’s Q1'25 financials reported it’s top-line declined by around 2% YoY to $20.9 billion, while its bottom line decreased by almost 6.5% to $1.64 billion. This resulted in a reported EPS of $2.93 (down from $3.06 in the same quarter one year ago).

In terms of dividends, Lowe’s Companies’ 5-year dividend growth rate is a staggering 133.62%. Right now, its forward payout is $4.60 per share, paid $1.15 per quarter, and translates to a dividend yield of around ~2.1% - certainly not the highest, but if you’re looking for stability and long-term growth potential. Moreover, Lowe’s dividend payout ratio is just 37.76%, which means there’s still lots of room for potential future increases.  It doesn’t get much better than this. 

Wall Street analysts are also bullish on LOW stock, with a consensus among 31 analysts rating the stock a  “Moderate Buy” (with a score of 4.32 out of 5). Further, the highest price target for LOW is $305 per share, which means around 38% upside from its current levels. 

Parker-Hannifin Corp (PH)

The next Dividend King with a high dividend growth rate is Parker-Hannifin Corp. Parker is one of the foundations of motion and control technologies mainly used in Aerospace hydraulics and flight control. Its primary segments include Diversified Industrial and Aerospace Systems - both can be found in the biggest aerospace markets globally. You could say, Parker-Hannifin Corp is the Lowe’s Companies of the aeronautics sector.

Parker recently reported its Q3’25 financials. Although its top line also decreased by ~2% YoY to $4.96 billion, its bottom line increased by over 32% to $960 million, resulting in an increased quarterly EPS of $1.63.

In terms of dividends, Parker-Hannifin Corp’s increased it by 92.09% over the past 5 years. Its forward dividend is estimated to be $7.20 per share, which is currently $1.80 per quarter. The payout ratio is only 24.27% of its earnings, which also means there’s still a ton of room for growth.

Analysts aren’t sleeping on Parker-Hannifin, either.  In fact, a consensus among 19 Wall Street analysts collectively rate PH stock a “Strong Buy,” with an average score of 4.63 out of 5 - the highest rating of this list. PH stock as a high price target of $827, suggesting as much as 26% upside potential for new investors. 

Abbott Laboratories (ABT)

The last but certainly not the least Dividend King on the list is Abbot Laboratories. Healthcare innovation is what Abbott does best. It’s no exaggeration that Abbot Labs takes charge in reshaping the global medical sector, operating across the most critical medical areas: pharmaceuticals, diagnostics, nutrition, and medical devices.

Abbott Lab’s Q1‘25 financials reported an “all-positive” quarter. Its top line increased by almost 4% YoY to $10.35 billion, and its bottom line also increased by almost 11% to $1.9 billion. Finally, EPS came in at $1.09 (up from $0.98 in the same year-ago quarter).

The company’s 5-year dividend growth is 71.88%, which is impressive amongst the Dividend Kings. Its forward annual dividend is $2.36 per share, which is paid as $0.59 per share per quarter. Further, the dividend represents just 46.38% of the company’s earnings, which means the company still has lots of additional runway for dividend growth. 

Wall Street analysts collectively rate ABT stock a “Strong Buy,” with an average score of 4.52 out of 5. Given its time-tested performance, it makes sense. The highest price target for ABT is $159, which suggests ~21% upside potential from its current levels. 

Final Thoughts

The Dividend Kings I presented above are almost certainly sound investment options if you’re in it for the long game - 5, 7, 10 years, or more. However, any investment comes with risks - no matter how ‘safe’ they seem. It's also best to look at any prospective buy from different angles. Consider its prospects, long-term vision, potential setbacks, etc. Because the market can do silly things to everyone - not even to the most established companies out there are safe from a surprise.