The Dividend Aristocrats are a group of 69 stocks in the S&P 500 Index with over 25 consecutive years of dividend increases. These high-quality businesses have managed recessions and various crises, while continuing to reward shareholders with dividend raises each year.
As a result, the Dividend Aristocrats are among the best dividend stocks to buy and hold for the long run.
The following 3 Dividend Aristocrats have dividend yields well above the S&P 500 average, and durable competitive advantages to continue raising their dividends in the years to come.
1. PPG Industries
PPG Industries (NYSE:PPG) is the world’s largest paints and coatings company. Its only competitors of similar size are Sherwin-Williams (NYSE:SHW) and Dutch paint company Akzo Nobel. PPG Industries was founded in 1883 and today has approximately 3,500 technical employees located in more than 70 countries at 100 locations.
With more than five decades of consecutive dividend increases, PPG Industries is a member of the Dividend Kings. The company generates annual revenues of nearly $16 billion.
On April 29th, 2025, PPG Industries reported first quarter results for the period ending March 31st, 2025. For the quarter, revenue decreased 4.4% to $3.68 billion, but beat estimates by $20 million. Adjusted earnings-per-share of $1.72 compared to adjusted earnings-per-share of $1.86 in the prior year. Pricing was up slightly for the quarter while volume grew 1%. Currency exchange was a 3% headwind, and divestitures reduced results by 2%.
We expect PPG (WA:IBSP) to grow its earnings by 7% per year going forward. Organic growth will boost EPS, as will share buybacks.
Even after more than five decades of dividend growth, PPG Industries has a very low payout ratio of around 34% expected for 2025.
PPG Industries’ key advantage is that it is one of just three similarly-sized companies in the coatings and paints industry, which limits its competitors. This gives PPG Industries size and scale, and the ability to increase prices.
2. Aflac Inc. (AFL)
Aflac (NYSE:AFL), founded in 1955, is the world’s largest underwriter of supplemental cancer insurance. The diversified insurance corporation also provides accident, short-term disability, critical illness, dental, vision, and life insurance. Roughly 70% of the company’s pretax earnings are from Japan, with 30% coming from the U.S. The $56 billion market cap company generated $5.4 billion in profit in 2024.
On December 2nd, 2024, Aflac raised its quarterly dividend 16% to $0.58. This marked the company’s 43rd straight year of increasing its payment.
The company recently reported first-quarter financial results. For the quarter, revenue declined 37% to $3.4 billion, which was $874 million below estimates. The steep decline in revenue was primarily due to investment losses compared to investment gains in the prior year. For the quarter, net earnings equaled $29 million, or $0.05 per share, compared to net earnings of $1.9 billion, or $3.25 per share, in the prior year.
However, this includes investment losses of $963 million, which are excluded from adjusted earnings. On an adjusted basis, earnings-per-share equaled $1.66, matching the prior year’s result.
In U.S. dollars, Aflac Japan’s quarterly net earned premiums decreased 7.4% to $1.7 billion while Aflac U.S. net earned premiums grew 1.8% to $1.5 billion. Adjusted book value grew 3.5% to $51.98 per share.
Aflac has two sources of revenue: income from premiums and income from investments. On the premium side, this is generally sticky with policy renewals making up the bulk of income. The other lever available is on the investment side, where the vast majority of the portfolio is in bonds. Having multiple sources of income means the company should continue to grow earnings and dividends in the long run.
3. AbbVie Inc. (ABBV)
AbbVie (NYSE:ABBV) is a biotechnology company focused on developing and commercializing drugs for immunology, oncology and virology. AbbVie was spun off by Abbott Laboratories (NYSE:ABT) in 2013. Since then, AbbVie has become one of the largest players in the biotechnology industry, especially following the closing of its acquisition of Allergan (NYSE:AGN).
AbbVie reported its first-quarter earnings results on April 25. It generated revenues of $13.3 billion during the quarter, up 8% from the same quarter last year. Revenue beat analyst estimates and was positively impacted by compelling growth from some of its major drugs, including Skyrizi and Rinvoq, while Humira sales declined by 51% due to growing competition from biosimilars and market share losses.
AbbVie earned $2.46 per share during the first quarter, which was 7% more than the company’s earnings-per-share during the previous year’s quarter. AbbVie’s earnings-per-share beat the consensus analyst estimate by $0.06.
AbbVie’s guidance for 2025’s adjusted earnings-per-share was raised during the earnings call; the company expects to earn $12.09 - $12.29 on a per-share basis this year. This means that earnings per share will be up substantially compared to 2024.
ABBV has increased its dividend for 53 years, qualifying it as a Dividend King. ABBV stock currently yields 3.3%.
Get the complete list of Aristocrat stocks here.
Disclosure: No positions in any stocks mentioned