30 Dividend Kings of 2021 (Part II) (2024)

This is the second part of our three-part series titled 30 Dividend Kings of 2021.You can read our analysis of dividend investing strategy and check out some of the top dividend kings of 2021 by going to 30 Dividend Kings of 2021 (Part I).

20. Dover Corp (NYSE: DOV)

Dividend Yield: 1.65%

Illinois-based Dover manufactures industrial products such as pipeline components, fuel pumps and food-service systems. In August 2020, the company increased its annual cash dividend for the 65th consecutive year. In the fourth quarter, Dover’s net earnings increased by 8% to reach $182 million.

A total of 40 hedge funds in Insider Monkey’s database held long positions in Dover at the end of the third quarter.

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19. American States Water Co (NYSE: AWR)

Dividend Yield: 1.68%

American States Water is one of the top 30 dividend kings of 2021.

American States Water is a water service company that has consistently increased its dividend over the last 66 years. In the third quarter, the company posted GAAP EPS of $0.72, missing the consensus by $0.04. Revenue in the period totaled $133.69 million, below the Street estimates by $18.4 million. A total of 21 hedge funds tracked by Insider Monkey held stakes in AWR at the end of the third quarter.

Related Article: 10 Best Water Stocks and ETFs to Buy in 2021

18. ABM Industries, Inc. (NYSE: ABM)

Dividend Yield: 1.93%

New York-based ABM Industries provides facilities management services like electrical and lighting, energy, facility engineering, HVAC, mechanical and janitorial services. In the fourth quarter, ABM’s revenue came in at $1.48 billion, a decline of 9.9%. For the first quarter of 2021, the company expects GAAP EPS in the range of $0.53 to $0.58. Non-GAAP EPS is expected to be between $0.60 to $0.65.

A total of 18 hedge funds tracked by Insider Monkey were long ABM at the end of the third quarter.

Vulcan Value Partners said the following about ABM stock in their Q3 Letter:

“ABM Industries Inc. is the largest janitorial services provider in the U.S. Its market segments also include facility management services, parking services, and maintenance services. Its technical solutions business retrofits electrical, HVAC, lighting, and water systems to reduce customer utility expenses. ABM Industries’ asset-light business model, high level of recurring revenue, and solid free cash flow generation make it an attractive business. ABM Industries has high market share in several large metro cities and employs 140,000 workers, which enables it to deploy resources nationally to provide solutions to companies with multiple locations. It has made extensive technology investments to manage its workforce efficiently and create flexibility during difficult economic times. New service offerings including Enhanced Clean add value and further entrench customers. The trend of outsourcing janitorial services is accelerating during COVID-19 and market share is shifting towards larger providers, such as ABM Industries, who can adapt to customers’ needs without disrupting their business models.”

Related Article: Janitorial Services Continues to be in Demand and ABM Industries (ABM) Seems to Benefit

17. SJW Group (NYSE: SJW)

Dividend Yield: 2%

California-based SJW is a water utility company serving over 1 million customers in California and Texas. The company increased its dividend by over 6% on Jan. 28, 2021. This marked the 53^rd consecutive dividend hike by the company.

A total of 9 hedge funds tracked by Insider Monkey held stakes in SJW at the end of the September quarter.

16. Hormel Foods Corp (NYSE: HRL)

Dividend Yield: 2%

Minnesota-based beef, chicken and sausage products company is one of the top 30 dividend kings of 2021. In November 2020, it announced a 5% increase in its annual dividend. This was the 55th consecutive annual dividend increase by Hormel. At the end of the third quarter, 30 hedge funds out of the 816 tracked by Insider Monkey held stakes in Hormel, up from 27 funds a quarter earlier.

Mairs and Power said the following about HRL stock in their investor letter:

“Hormel (HRL) was a strong contributor to the Fund’s first quarter performance. Since people were dining out less and buying more at the supermarket, this should come as no surprise. It’s well positioned for this downturn.”

Click to continue reading and see theTop 5 Dividend Kings of 2021 (Part II).

You can also check out 30 Dividend Kings of 2021 (Part I) and 30 Dividend Kings of 2021 (Part III)

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Disclosure: None. 30 Dividend Kings of 2021 (Part II)is originally published at Insider Monkey.