Sean Anthony Eddy
Wells Fargo Analyst John Sheehan published his “core list” of current outperforming companies that have produced high dividends across time.
These are blue chip, industry-leading companies that can be used to build a well-diversified portfolio, he wrote in a Wells Fargo Concept and Holdings report.
The list favors companies that have at least mid-cap market capitalization status and a substantial revenue base. These high-quality stocks have characteristics that Wells Fargo analysts believe are important for long-term investors, said Sheehan.
“Our process considers long-term growth, the management team’s level of experience, return on invested capital, stability of revenues and earnings, stock price volatility, financial strength, debt ratings (if applicable), and any other characteristics that we deem significant, either overall or for a specific industry or sector, as well as the potential to maintain these characteristics,” he said.
These are the top 20 companies, ranked by the highest percentage change from Dec. 31, 2022, to Dec. 31, 2023:
- Public Storage (PSA) - Dividends paid 12-month ending on Dec. 31, 2023: $12; percentage change: 50%
- Automatic Data Processing Inc. (ADP) - Dividends paid 12-month ending on Dec. 31, 2023: $5; percentage change: 20.2%
- Oracle Corp. (ORCL) - Dividends paid 12-month ending on Dec. 31, 2023: $1.52; percentage change: 18.8%
- Mastercard Inc. Class A (MA) - Dividends paid 12-month ending on Dec. 31, 2023: $2.28; percentage change: 16.3%
- Lowe’s Companies Inc. (LOW) - Dividends paid 12-month ending on Dec. 31, 2023: $4.30; percentage change: 16.2%
- Accenture Plc Class A (CAN) - Dividends paid 12-month ending on Dec. 31, 2023: $4.65; percentage change: 15.4%
- Parker-Hannifin Corp. (PH) - Dividends paid 12-month ending on Dec. 31, 2023: $5.77; percentage change: 14.9%
- Landstar System Inc. (LSTR) - Dividends paid 12-month ending on Dec. 31, 2023: $1.26; percentage change: 14.5%
- Paychex Inc. (PAYX) - Dividends paid 12-month ending on Dec. 31, 2023: $3.46; percentage change: 14.2%
- UnitedHealth Group Inc. (UNH) - Dividends paid 12-month ending on Dec. 31, 2023: $7.29; percentage change: 13.9%
- TJX Companies Inc. (TJX) - Dividends paid 12-month ending on Dec. 31, 2023: $1.29; percentage change: 12.9%
- Broadcom Inc. (AVGO) - Dividends paid 12-month ending on Dec. 31, 2023: $19.05; percentage change: 12.7%
- NIKE Inc. Class B (NKE) - Dividends paid 12-month ending on Dec. 31, 2023: $1.39; percentage change: 10.8%
- Danaher Corp. (DHR) - Dividends paid 12-month ending on Dec. 31, 2023: $1.06; percentage change: 10.4%
- NextEra Energy Inc. (NEE) - Dividends paid 12-month ending on Dec. 31, 2023: $1.87; percentage change: 10%
- Home Depot Inc. (HD) - Dividends paid 12-month ending on Dec. 31, 2023: $8.36; percentage change: 10%
- Microsoft Corp. (MSFT) - Dividends paid 12-month ending on Dec. 31, 2023: $2.79; percentage change: 9.8%
- Linde Plc (LIN) - Dividends paid 12-month ending on Dec. 31, 2023: $5.10; percentage change: 9%
- PepsiCo Inc. (PEP) - Dividends paid 12-month ending on Dec. 31, 2023: $4.83; percentage change: 8.5%
- Abbott Laboratories (ABT) - Dividends paid 12-month ending on Dec. 31, 2023: $2.04; percentage change: 8.5%