US large-cap dividend hike watch: 10 stocks with the longest growth streaks

A screen identified 47 US large-cap stocks meeting criteria of yield above 2%, payout ratio below 60%, dividend growth above 5%, and more than five consecutive years of increases; the article lists the 10 longest streaks. McDonald’s leads with 51 years of dividend increases, while McCormick has the lowest listed payout ratio at 34.1% and a 4% yield; Broadridge and Unum have the fastest listed dividend growth at 23.9% and 20.2%. The screen’s figures are snapshots as of Nov. 4, 2026, and an ex-dividend date does not indicate a dividend increase.

Analysis

This is a screening signal, not a catalyst: a long dividend record can support a quality narrative, but it does not establish that today’s yield compensates for valuation, earnings risk, or capital needs. The key second-order risk is that payout ratios use reported earnings, not necessarily distributable free cash flow. That matters most where capital spending, regulatory requirements, or balance-sheet funding compete with shareholder returns. For ATO and NEE, higher real yields could pressure income-stock valuations while financing needs constrain cash available for increases. For PFG and UNM, reported earnings and statutory capital can diverge; dividend capacity should be checked against capital ratios and cash generation. ADP’s payout durability is also exposed to payroll and employment conditions.

Near term, there is little reason to expect broad repricing from this list alone; confirm live yields and company-issued dividend announcements before acting on the screen’s dates. Over 1–3 months, earnings, cash-flow conversion, and management capital-allocation commentary are the relevant catalysts. Over 6–18 months, persistent higher rates or weaker earnings could expose the difference between a long streak and genuine capacity to keep raising distributions. The contrarian point: dividend-growth screens can overweight historical continuity and underweight current valuation and reinvestment needs. No relative valuation or free-cash-flow data are supplied, so a ranking here is not a buy signal.

Key Decisions for Investors

• No basket trade on this screen alone. Refresh prices and ex-dates, then compare each name’s dividend with free cash flow after required investment and, for PFG/UNM, capital adequacy before sizing exposure.
• Put MKC on a diligence watchlist rather than buying solely for payout headroom. Consider a long only if updated results show cash-flow growth supporting the dividend and valuation is reasonable; falsify on a dividend freeze/cut or deterioration in cash conversion.
• For ATO and NEE, monitor real Treasury yields, financing costs, and capital-spending plans. Avoid adding to either as a yield trade if real yields rise materially and management signals tighter cash-return capacity; reassess if yields stabilize and funding needs remain covered.
• Do not infer an imminent raise from a listed ex-date. Treat a company announcement or earnings update as the catalyst, and verify all dates against issuer disclosures before any event positioning.