Eli Lilly, WD-40: 10 dividend hikes to watch for this week

Companies often establish a pattern of hiking dividends at the same time each year, giving investors a reliable cash influx and enticing them to stick around for the long term. Here is your weekly list of companies that look set to raise their payouts in the next week based on what they did this time last year, with help from StreetInsider and InvestingPro+ data.

Companies with strong dividend growth streaks

1. The Andersons (NASDAQ:) raised by 2.9% last year and currently has an annualized payout of $0.72, a yield of 2%, and a payout ratio of 16.15%. Its dividend growth streak is 26 years.

2. Norwood Financial Corp (NASDAQ:) raised by 7.7% last year and currently has an annualized payout of $1.12, a yield of 3.3%, and a payout ratio of 31.35%. Its dividend growth streak is 24 years.

3. Toro Co (NYSE:) raised by 14.3% last year and currently has an annualized payout of $1.20, a yield of 1.1%, and a payout ratio of 31.66%. Its dividend growth streak is 18 years.

4. The Ensign Group (NASDAQ:) raised by 4.8 % last year and currently has an annualized payout of $0.22, a yield of 0.2%, and a payout ratio of 5.64%. Its dividend growth streak is 15 years.

5. Farmers & Merchants Bancorp (NASDAQ:) Inc (NASDAQ:) raised by 5.6% last year and currently has an annualized payout of $0.84, a yield of 2.9%, and a payout ratio of 28.94%. Its dividend growth streak is 12 years.

6. Washington Trust Bancorp Inc (NASDAQ:) raised by 3.8% last year and currently has an annualized payout of $2.16, a yield of 4.8%, and a payout ratio of 49.65%. Its dividend growth streak is 11 years.

7. Fortune Brands (NYSE:) raised by 7.7% last year and currently has an annualized payout of $1.12, a yield of 1.9%, and a payout ratio of 19.26%. Its dividend growth streak is 9 years.

8. Eli Lilly (NYSE:) raised by 15.3% last year and currently has an annualized payout of $3.92, a yield of 1.1%, and a payout ratio of 56.76%. Its dividend growth streak is 7 years.

9. TFI International (NYSE:) raised by 17.4% last year and currently has an annualized payout of $1.08, a yield of 1%, and a payout ratio of 13.12%. Its dividend growth streak is 6 years.

10. WD-40 Company (NASDAQ:) raised by 8.3% last year and currently has an annualized payout of $3.12, a yield of 1.9%, and a payout ratio of 62.36%. Its dividend growth streak is 6 years.

Dividend growth streaks under 5 years

FMC Corp (NYSE:) raised by 10.4% last year and currently has an annualized payout of $2.12, a yield of 1.7%, and a payout ratio of 40.23%. Its dividend growth streak is 4 years.

The First Of Long Island (NASDAQ:) raised by 5.3% last year and currently has an annualized payout of $0.84, a yield of 4.5%, and a payout ratio of 40.31%. Its dividend growth streak is 3 years.

Franklin Resources (NYSE:) raised by 3.6% last year and currently has an annualized payout of $1.16, a yield of 4.4%, and a payout ratio of 45.13%. Its dividend growth streak is 2 years.

Touchstone Bank (OTC:) raised by 7.1% last year and currently has an annualized payout of $0.28, and a yield of 2.9%. Its dividend growth streak is less than 1 year.

AFC Gamma Inc (NASDAQ:) raised by 16.3% last year and currently has an annualized payout of $2.24, a yield of 13.3%, and a payout ratio of 93.13%. Its dividend growth streak is 1 year.

City Office REIT (NYSE:) raised by 33.3% last year and currently has an annualized payout of $0.80, a yield of 8.5%, and a payout ratio of 8.64%. Its dividend growth streak is less than 1 year.

PHX Minerals Inc (NYSE:) raised by 50% last year and currently has an annualized payout of $0.08, a yield of 2.4%, and a payout ratio of 24.63%. Its dividend growth streak is less than 1 year.

***

For tools, data, and content to help you make better investing decisions, try InvestingPro+.