Dividend Macro Overview: April 25

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Dividend Macro Overview: April 25

Today's Table of Contents

• Dividend Eagles: 3 Top-Performing Dividend Stocks of April

• Dividend Eagles Top Stocks Updated List

• The Most Notable Dividend Increases

• The Most Solid Dividend Hikes

• Dividend Macro Highlights: Global Dividend Trends

• My Personal Stock Watchlist for April 2025

Dividend Eagles: 3 Top-Performing Dividend Stocks of March

The "Dividend Eagles List" comprises approximately 100 of the most reliable dividend-paying companies in the U.S. market, each boasting over 15 consecutive years of increasing dividends.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

🥉 +6.97% LARK Landmark Bancorp Inc

Landmark Bancorp Inc. is a Kansas-based bank holding company that runs Landmark National Bank, serving customers across small towns and regional hubs throughout the state.

They offer all the essentials—checking, savings, home loans, business lending, and cash management—catering mostly to individuals, local businesses, and farmers. What makes them stand out is their strong community presence and a no-frills, relationship-driven approach to banking.

Landmark sticks to what it knows best: steady growth, smart risk-taking, and keeping things local. With a solid track record of profitability and a loyal customer base, the company’s strength comes from staying grounded in the communities it serves.

🥈 +7.67% BMI Badger Meter Inc

Badger Meter, Inc. makes smart metering tools that help cities, businesses, and utilities track how water moves—down to the last drop.

The company builds advanced flow measurement and control tech, like ultrasonic and electromagnetic meters, plus cloud-connected software that gives real-time insight into usage, leaks, and system performance. Their gear is used everywhere from municipal water systems to industrial plants.

Badger Meter stands out for its reliable tech, data accuracy, and focus on sustainability. With water conservation becoming a global priority, the company’s long-term strength comes from growing demand for smart infrastructure and its ability to deliver trusted, high-quality solutions.

🥇 +8.30% COST Costco Wholesale Corp

Costco Wholesale Corporation is one of the largest membership-based warehouse retailers in the world, known for selling everyday essentials in bulk at low prices.

The company runs massive no-frills stores stocked with everything from groceries and electronics to furniture and pharmacy items—all under one roof. Its secret sauce? A lean business model, ultra-low markups, and a fiercely loyal base of paying members who keep coming back for the value.

Costco serves millions of households and small businesses across the U.S. and internationally, staying laser-focused on efficiency, quality, and keeping costs down. Its competitive edge comes from scale, strong vendor relationships, and a membership model that fuels steady, high-volume traffic and long-term growth.

Dividend One-Pager of the Month

A Proven Dividend Eagle 🦅

Unum Group (UNM) has established itself as a reliable dividend payer, boasting a 16-year track record of consistent dividend growth. The company currently pays an annual dividend of $1.68 per share, yielding 2.06%. Its most recent quarterly dividend payment of $0.42 per share was made on February 14 to shareholders who held the stock before the ex-dividend date of January 24.

Over the past three years, Unum has maintained a strong annualized dividend growth rate of 11.10%. With a conservative payout ratio of 17.74% of earnings and 18.53% of cash flow, Unum demonstrates both financial strength and a commitment to returning value to shareholders while retaining capital for future growth.

The Most Notable Dividend Increases

Colgate-Palmolive (CL) - Dividend Increase: +4.00%

50+ consistent years. Proven Dividend Eagle.

Colgate-Palmolive has paid uninterrupted dividends on its common stock since 1895 and has increased payments to common shareholders every year for 62 years.

The $70B consumer staples heavyweight behind brands like Colgate, Ajax, and Hill’s Pet Nutrition, has raised its quarterly dividend from $0.50 to $0.52 again recently, lifting the annual payout to $2.08 per share. That’s a 2.3% forward yield at the current price of $90.28.

The payment is scheduled for May 15 to shareholders on record as of April 17. This marks 62 consecutive years of dividend increases. Over the last three years, the dividend grew 3.57%, with a 56.82% payout ratio, keeping it well-covered.

For the October–December 2024 period (Q4 2024), Colgate reported $4.95 billion in sales, up 6% year-over-year. Full-year net sales hit a record $20.1 billion, while GAAP EPS jumped 27% to $3.51.

Operating cash flow rose 10% to $4.1 billion, and the company returned $3.4 billion to shareholders. A fresh $5B share repurchase plan was also approved.

Roche Holding (RO.SW) - Dividend Increase: +4.18%

35+ consecutive years. Proven Dividend Eagle.

Roche Holding AG (ROG), the Swiss pharma heavyweight behind blockbusters like Avastin and Ocrevus, just raised its annual dividend to 9.70 CHF, marking its 38th consecutive annual increase.

At current levels, that gives you a 3.49% yield. Over the past five years, dividend growth has averaged +10.00%, and while the payout ratio sits high at 93.11%, the company’s strong cash generation keeps it covered.

For the January–December 2023 period, Roche reported 63.3 billion CHF in sales, up 2% year-over-year, and 14.1 billion CHF in net income, a 4% increase. Growth was driven by strength in immunology and new diagnostics platforms, even as COVID-related sales tapered off.

Fuchs Petrolub (FPE) - Dividend Increase: +5.00%

20+ consecutive years. Proven Dividend Eagle.

Fuchs Petrolub SE is a German multinational specializing in lubricants and specialty products for automotive and industrial applications. In 2024, they reported sales of €3.5 billion and net income of €302 million, showing resilience in a tough market.

Fuchs has been upping their payouts for 22 consecutive years. For 2024, they increased the dividend by 5% to €1.11 per preference share, yielding around 3.14%. The payout ratio stands at a sustainable 48.03%, indicating a balanced approach between rewarding shareholders and fueling growth

Financially, they're solid. Their Return on Equity (ROE) is an impressive 21.7%, reflecting efficient use of shareholder funds. Over the past decade, they've achieved a 10-year revenue CAGR of 11%, demonstrating consistent expansion.

The Most Solid Recent Dividend Hikes

• Ares (ARES) +20.43%

• Danaher (DHR) +18.52%

• Domino's Pizza (DPZ) +15.23%

• First Business Financial (FBIZ) +16.00%

• Comfort Systems USA (FIX) +14.29%

• First Industrial Realty (FR) +20.27%

• Kinsale Capital (KNSL) +13.33%

• LeMaitre Vascular (LMAT) +25.00%

• Monolithic Power (MPWR) +24.80%

• The New York Times (NYT) +38.46%

🦅 Dividend Eagles List: April’25

An updated compilation of top-performing dividend stocks with 15+ years of consecutive dividend increases, known as Dividend Eagles, selected based on stringent criteria.

The Dividend Eagles Top Stocks List is a curated selection of over 100 of the most reliable dividend-paying companies in the U.S. market.

Each company on this list boasts a remarkable track record of increasing dividends for at least 15 consecutive years, reflecting their financial stability and commitment to returning value to shareholders.

Created by the MaxDividends Team. Available only on MaxDividends. Exclusive.

Key Benefits of the Dividend Eagles Top Stocks List

Consistent Dividend Growth

Companies featured have a proven history of not only paying dividends but also increasing them annually for over 15 years. This consistency can provide investors with a growing income stream, which is particularly valuable for those seeking passive income or planning for retirement.

Financial Stability

The stringent criteria ensure that only financially robust companies are included. These firms have demonstrated resilience across various market cycles, making them potentially safer investments during economic downturns.

Comprehensive Research

The list is meticulously compiled by the MaxDividends team, leveraging in-depth analysis and strict selection criteria. This saves investors time and effort in identifying high-quality dividend stocks, providing a reliable resource for building a dividend-focused portfolio.

Enhanced Portfolio Performance

Investing in companies with a strong dividend growth history can lead to superior long-term returns. Reinvested dividends and the power of compounding can significantly boost portfolio value over time.

Access to Exclusive Insights

Subscribers to the Dividend Eagles Top Stocks List gain access to regular updates, detailed company analyses, and insights into dividend trends, helping them make informed investment decisions.

These companies have been meticulously selected based on stringent criteria established by the MaxDividends team.

Created by the MaxDividends Team. Available only on MaxDividends. Exclusive.

By incorporating the Dividend Eagles Top Stocks List into your investment strategy, you align yourself with a disciplined approach focused on quality, stability, and growth.

Dividend Macro Highlights: Global Dividend Trends

The macro report is updated quarterly

The global cumulative dividend payout for Q4 2024 continued the upward trend seen in Q4 2020.

This indicates that most dividend-paying companies have weathered the impact of the 2020 crisis and successfully adapted their businesses to the new reality. As a result, they’ve been able to keep increasing their dividend payouts.

Companies paid out $371.7 billion in dividends in the fourth quarter of 2024. In comparison, companies collectively paid out $339.9 billion in Q4 2023 (Figure 1).

Regional Dividend Leaders

The top performers in dividend growth for the fourth quarter were Japan, Europe ex UK, and North America, with increases of 23.2%, 15.9%, and 8.6%, respectively.

No regions showed negative growth in dividend payments, but the weakest performance came from Asia Pacific ex Japan, with dividend growth of just 0.8%.

U.S. Dividend Landscape (S&P 500)

The S&P 500 dividend yield has been cut in half over the past decade. It now stands at 1.34%, which means stock prices relative to dividends are higher than usual. As a result, the dividend yield is at record lows

Inflation's Impact on Dividends

Inflation has been rising faster than dividend growth, causing a correction in the S&P 500 dividend chart. Since mid-2022, inflation has been gradually decreasing, allowing the S&P 500 dividend chart to show a slight uptick.

However, since Q3 2024, inflation has started to rise again, leading to a renewed correction in the S&P 500 dividend chart.

S&P 500 Historical Dividend Trends

Historical dividends from stocks that are part of the S&P 500 Index are shown in Figure 5.

The data is adjusted for inflation. With the current inflation rate (Figure 4), there is a gradual acceleration in the growth of dividends on the S&P 500 Index.

The previous peak was in May 2020, when the dividend was 73.09. Currently, this figure stands at 75.32.

S&P 500 Dividend Growth

The S&P 500 dividend growth is shown in Figure 6. Over the past 32 years, the chart has been negative only three times, and all of those periods were linked to crises. Over the past month, dividend growth has outpaced inflation, reaching 6.44%.

However, over the past 12 months, these indicators have generally followed the same trend.

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time.

My Personal Stock Watchlist for April 2025

A complete list of my top stocks currently on my radar.

I’m fully committed to strong dividend stocks, striking the perfect balance between capital growth and a rising stream of dividend income. My ultimate goal? To build a solid and ever-growing passive income for a life funded by dividends.

I share my insights, strategy, stock picks, and investment ideas on the MaxDividends blog.

Right now, I’m tracking over 40 companies, regularly updating my shortlist and main watchlist every month.

No access yet? Check your status & upgrade to Premium to join the movement. Exclusive insights await inside!

A complete list of my favorite stocks I’m currently tracking—only the best make it in.

MaxDividends Recent Events

Stock prices can be volatile, and those ups and downs often test investors' patience. That’s why having a steady income stream through dividend payments can be so appealing.

At MaxDividends, we focus on maximizing yields to make the most of dividends, helping you grow a reliable and expanding passive income.

The best part of a dividend strategy is that it works in any market, offering a steady path to wealth no matter the conditions.

My Comments

Uncertainty and Action Plan in Foggy Times

The tariff war is heating up, and market uncertainty is growing too. I’m sure many of you have noticed how stock prices swing back and forth depending on the narrative. Investors are hoping for a more positive backdrop.

Let’s be realistic and accept that markets fluctuate, and we cannot control that. Businesses evolve. Situations change. Time moves forward. It has always been this way, and it always will be.

Overcoming the Fear of the Unknown

Here’s how I personally think about it

1) Keep Investing, but Focus on Quality

No matter how you invest today, continue doing so. The key factor to watch is the quality of your investments. If you are unsure about individual companies, consider switching to broad market index funds.

2) The Best Opportunities Come in Downturns

The most profitable opportunities emerge during declines, not during periods of growth. It’s impossible to perfectly time the market.

My passive income keeps increasing. In my investments, I follow the MaxDividends strategy. You can read more about it here:

👉 MaxDividends Strategy

My strategy is based on the MaxDividends concept and is incredibly passive. Most of the time, I do nothing—just watch my dividend income grow.

I track all my results in the MaxDividends App—it provides a clear, structured view of every portfolio.

My Strategic Thoughts & Plans for 2025

Main

For the past 20 years, I’ve aggressively invested my time and resources into building businesses, which have been my main source of capital. In recent years, my stock investments have further grown that capital.

This year, I’m turning 40. As a father of three, I want to stay involved in business and investing, but on my own terms. My goal is to take on a more strategic role, free up more time for myself and my family, and pursue interests I’ve put off for years. Investing allows me to do just that.

In 2025, I’m transitioning to fully living off dividends. My primary capital and main portfolio—filled with strong growth companies and high-dividend stocks—will fund this shift.

Q2 2025

Starting in Q2 2025, alongside my regular $12,000 experiment purchases, I’ll demonstrate how I live off dividends using the growing passive income from my main stock portfolio.

Currently, my portfolio is worth approximately $1,330,000. Since last year, I’ve stopped investing in pure growth stocks in this portfolio and shifted toward dividend growth and high-yield dividend stocks.

By the end of 2024, my plan was to further transition toward dividend income—and I executed that plan earlier in January’25.

While the market allows, I took advantage of growth stock opportunities and reduced my allocation to them, further increasing my share of high and growing dividend stocks. Given my long-term plans, this move fully aligns with my overall goal of living off dividends.

Right now, 90% of my core portfolio consists of high-yielding, dividend-growing stocks. My average monthly dividend income is now approaching $7,000. For now, I’ll continue reinvesting these dividends to accelerate the growth of both my dividends and passive income.

💡 My strategy is based on the MaxDividends Investing Concept and Dividend Eagles, and it’s incredibly low-maintenance. Most of the time, I just sit back and watch my passive income grow.

I’ll share with you simple, proven, and effective methods for selecting built-to-last companies—led by generations of exceptional leaders—that pay consistently growing dividends. These companies provide ever-expanding passive income, allowing you to focus on what you love and spend time with the people who matter most.

✅ This is a time-tested, results-driven approach that leads to predictable success.
By focusing on strong, reliable companies that pay above-average dividends and steadily increase payouts over time, we set the foundation for consistent dividend growth and financial freedom.

👉 My Recent Friday Purchases Overview

My Plans for This Week

This week, I’ll continue investing in high dividend growth stocks. I have several ideas on my radar. Most likely, I’ll keep adding to one great name after the recent dip. I really like this business and I’m happy to increase my stake in it.

Overall, I see a lot of attractive investment opportunities right now, but my weekly budget is limited, so I’m taking a calm, selective approach.

Next week, I’ll also have April dividend payments coming in, and I’m looking forward to reinvesting that cash to further grow my passive income.

On a related note, last week I tested the process of transferring dividends from my brokerage account to my bank account for the first time, just to walk through the steps.

Starting sometime between Q4 2025 and Q1 2026, I plan to begin regularly withdrawing part of my dividends to start living off of them.

Happy dividends for all the holders!

For your convenience, we have prepared a PDF version of the Dividend Macro Overview. You can download and review it at any time. 🙌

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