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AllenBauer.com

Personal Investing

Increasing Dividend Stocks

I’m not trying to find the next hot stock. I’m building an income-producing portfolio made up of companies with demonstrated histories of increasing what they pay their shareholders.

My goal is financial freedom through growing investment income. I want to own productive assets that pay me, increase those payments over time, and eventually generate enough income that I don't have to sell the underlying investments to live.

I divide increasing-dividend companies into three groups:

Last updated: October 4, 2026. All figures below reflect the data as of this date.

25+ years of increases

Dividend Champions

Companies that have increased their dividends for 25 or more consecutive years.

MO

Altria Group

Champion

Current Yield

6.37%

Forward Yield

6.59%

Price
$67.35
Dividend Per Share
$4.44
Earnings Per Share
$4.75
Payout Ratio
70.34%
P/E Ratio
14.41

Company Information

Exchange
NYSE
Sector
Consumer Defensive
Industry
Tobacco
Country
United States

EPD

Enterprise Products Partners

Champion

Current Yield

6.09%

Forward Yield

6.19%

Price
$36.18
Dividend Per Share
$2.24
Earnings Per Share
$2.91
Payout Ratio
80.15%
P/E Ratio
13.10

Company Information

Exchange
NYSE
Sector
Energy
Industry
Oil & Gas Midstream
Country
United States

10–24 years of increases

Dividend Contenders

Companies that have increased their dividends for 10–24 consecutive years.

AMSF

AMERISAFE

Contender

Current Yield

11.11%

Forward Yield

6.95%

The current (trailing) yield and dividend per share include special dividends, so they may differ substantially from the forward yield. The high current yield shouldn't be read as the expected recurring dividend.

Price
$23.59
Dividend Per Share
$2.62
Earnings Per Share
$2.48
Payout Ratio
49.83%
P/E Ratio
12.12

Company Information

Exchange
NASDAQ
Sector
Financial Services
Industry
Insurance - Specialty
Country
United States

MPLX

MPLX LP

Contender

Current Yield

7.22%

Forward Yield

7.64%

Price
$56.38
Dividend Per Share
$4.31
Earnings Per Share
$4.65
Payout Ratio
82.52%
P/E Ratio
12.66

Company Information

Exchange
NYSE
Sector
Energy
Industry
Oil & Gas Midstream
Country
United States

5–9 years of increases

Dividend Challengers

Companies that have increased their dividends for 5–9 consecutive years.

VICI

VICI Properties

Challenger

Current Yield

7.59%

Forward Yield

8.12%

Price
$22.65
Dividend Per Share
$1.84
Earnings Per Share
$2.58
Payout Ratio
67.84%
P/E Ratio
9.32

Company Information

Exchange
NYSE
Sector
Real Estate
Industry
REIT - Diversified
Country
United States

GLPI

Gaming and Leisure Properties

Challenger

Current Yield

7.54%

Forward Yield

8.70%

Price
$37.68
Dividend Per Share
$3.28
Earnings Per Share
$3.39
Payout Ratio
105.19%
P/E Ratio
13.10

Company Information

Exchange
NASDAQ
Sector
Real Estate
Industry
REIT - Specialty
Country
United States

Plain English

What These Numbers Mean

Current Dividend Yield+

The annual dividends paid over the trailing period divided by the current stock price. It gives me a picture of the income the investment has recently generated relative to its price.

Forward Dividend Yield+

The expected annual dividend based on the company's most recently declared regular dividend rate divided by the current share price. I pay particular attention to this because it provides a better picture of the income rate going forward, although future dividends are never guaranteed.

Dividend Per Share+

The amount of dividends attributed to each share of stock over the measured period. Special dividends can sometimes cause this number to be significantly higher than the company's normal recurring dividend.

Earnings Per Share (EPS)+

The company's earnings divided by its outstanding shares. I compare earnings with dividends because I want to understand whether the company's profits support what it is paying shareholders.

Payout Ratio+

The percentage of earnings being paid to shareholders as dividends. I use this as one measure of dividend sustainability. A lower number generally leaves more room for the company to maintain or increase its dividend, but appropriate payout ratios vary considerably by industry and company structure.

P/E Ratio+

The stock price divided by earnings per share. It provides a basic measure of how much investors are paying for each dollar of company earnings. I use it as one valuation measure rather than looking at yield alone.

Exchange+

The stock exchange on which the investment trades.

Sector+

The broad area of the economy in which the company operates.

Industry+

The more specific type of business within that sector.

Country+

The company's home country.

My Approach

Why I Invest This Way

I don't want to depend entirely on stock prices going higher.

My objective is to build an increasing stream of income from businesses that share their profits with their owners.

Price will move up and down. Markets will have good years and bad years. My focus is on the income the portfolio produces and whether that income continues growing.

I can reinvest dividends while I'm building the portfolio and eventually use part of that income to help fund my life.

For me, the end goal isn't owning more stuff or trying to impress people. It's financial freedom.

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This Is What I Do, Not Financial Advice

These are investments I personally own or follow as part of my increasing-dividend strategy. I'm sharing my process, holdings and reasoning for educational purposes. This is not individualized investment, tax or financial advice. Investments involve risk, dividends can be reduced or eliminated, and past dividend growth does not guarantee future results.

Everyone's financial circumstances, goals and tolerance for risk are different. Do your own research and make decisions appropriate for your situation.