2026 Complete Guide to U.S. Dividend Achievers
A list of Dividend Achievers that have raised their dividends for 10 or more consecutive years. Covers the meaning of Dividend Achievers — the underlying index for $VIG and $DGRO ETFs — along with the selection criteria and an investment strategy.
"Ten consecutive years of dividend increases — they may not be kings or aristocrats yet, but they've already proven themselves." Dividend Achievers refers to companies that have raised their dividend for 10 or more consecutive years. The bar may seem lower than that of Dividend Kings (50 years) or Dividend Aristocrats (25 years), but out of the thousands of U.S.-listed companies, only about 400 meet this condition.
Dividend Achievers are particularly important for a specific reason. VIG (Vanguard Dividend Appreciation ETF) — one of the dividend ETFs most widely purchased by Korean investors — uses this Dividend Achievers list as its underlying index. DGRO (iShares Core Dividend Growth ETF) follows a similar methodology. In other words, investing in VIG or DGRO is effectively the same as investing in the Dividend Achievers.
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1. What Is a Dividend Achiever?
Dividend Achievers are the stocks included in the Dividend Achievers Select Index, maintained by NASDAQ. There are two conditions:
Four hundred may sound like a lot, but consider this: raising the dividend every single year for a decade without once cutting it demonstrates significant management capability. During those ten years, companies have weathered COVID, sharp interest-rate hikes, supply-chain crises, and more.
2. The Full Dividend Classification System
From Dividend Kings to Dividend Achievers, here's a quick overview of the four categories covered in this series.
The list widens as you move down, and the requirements grow stricter as you move up. Dividend Achievers form the broadest base of this pyramid, while also serving as the "candidate pool for tomorrow's Aristocrats and Kings."
3. Notable Stocks by Sector
Listing all 400 would be endless, so we screened by major sector for stocks with high dividend yields and steady dividend growth. We excluded names already covered in the Dividend Aristocrats guide, focusing on stocks found exclusively among the Achievers.
| Sector | Ticker | Company | Dividend Yield | Dividend Growth (5Y) | Market Cap |
|---|---|---|---|---|---|
| Consumer Staples |  GIS | General Mills | 6.87% | 4.13% | $19B |
 CPB | Campbell's | 7.66% | 1.92% | $6.1B | |
 FLO | Flowers Foods | 10.78% | 4.40% | $1.7B | |
| Healthcare |  PFE | Pfizer | 6.54% | 2.37% | $153.1B |
 BMY | Bristol-Myers Squibb | 4.31% | 6.24% | $119.7B | |
 NVO | Novo Nordisk | 4.41% | 19.93% | $126.4B | |
| Industrials |  UPS | UPS | 6.46% | 10.18% | $86.4B |
 RHI | Robert Half | 9.17% | 11.65% | $2.4B | |
 SYK | Stryker | 1.04% | 7.67% | $129.8B | |
| IT |  HPQ | HP Inc. | 6.58% | 10.63% | $16.7B |
 OTEX | OpenText | 5.23% | 8.45% | $5.2B | |
| Energy |  MPLX | MPLX LP | 8.08% | 7.51% | $57.0B |
 HESM | Hess Midstream | 7.96% | 10.88% | $8.2B | |
| Utilities |  EIX | Edison International | 4.60% | 5.43% | $29.1B |
 AES | AES Corp. | 4.91% | 3.83% | $10.3B |
* Dividend yield and growth figures are based on real-time data from our database. The stocks listed above are Achievers-exclusive names not included in the Dividend Aristocrats.
4. Rising Dividend Stocks — "The Aristocrats of Tomorrow"
Among the Dividend Achievers, the names especially worth watching are those with fast dividend-growth rates. They are currently Achievers (10+ years), but at this pace they have a strong chance of joining the Aristocrats (25+ years) within the next 15 years.
NVO Novo NordiskThe very company that has shaken the world with its obesity drug Wegovy. As its business has exploded, its dividend has been rising at an annual pace of nearly 20%. Its current streak of consecutive dividend increases stands at roughly 20 years, and at this rate it could enter the Dividend Aristocrats in the early 2030s.
BMY Bristol-Myers SquibbA rare large-cap pharma that delivers both a yield in the 4% range and steady dividend growth. Its consecutive-increase streak stands at roughly 18 years, making it another Aristocrat candidate. PFE (Pfizer) is on a similar trajectory, but its post-COVID earnings volatility warrants a watchful eye.
5. VIG vs DGRO — A Comparison of Dividend Achiever ETFs
If picking from all 400 names feels daunting, another option is to invest in a Dividend Achiever-based ETF. Here's a comparison of the two most popular funds.
| Item | VIG | DGRO |
|---|---|---|
| Issuer | Vanguard | BlackRock (iShares) |
| Underlying Index | Dividend Achievers Select | Morningstar US Dividend Growth |
| Consecutive-Increase Threshold | 10+ years | 5+ years (broader scope) |
| Number of Holdings | ~340 | ~400 |
| Expense Ratio | 0.06% | 0.08% |
| Weighting Method | Market-cap weighted | Total-dollar-dividend weighted |
| Dividend Frequency | Quarterly | Quarterly |
The key difference lies in the selection criteria. VIG strictly applies a 10+ year consecutive-increase threshold (the Dividend Achiever rule), while DGRO takes a broader approach with 5+ years of increases plus a payout-ratio filter. As a result, DGRO includes fast-growing dividend payers that have not yet reached the 10-year mark.
Both charge less than 0.10% in fees and have delivered similar long-term performance. A handy way to remember: "Stricter filter = VIG; broader universe = DGRO." For a detailed comparison against other dividend ETFs, see the Dividend ETF Comparison Guide.
6. Frequently Asked Questions
Q. What's the difference between Dividend Achievers and Dividend Champions?
The consecutive-increase period differs. Achievers require 10+ years, while Champions require 25+ years. Think of Achievers as having "cleared the prelims," while Champions have "advanced to the main event." Stocks with 10–24 years of increases are unique to the Achievers list.
Q. Is SCHD a Dividend Achiever ETF?
Similar, but not identical. SCHD tracks the Dow Jones US Dividend 100 Index and applies a 10+ year consecutive-increase plus financial-quality filter. There is significant overlap with the Dividend Achievers, but SCHD narrows the list to 100 names, whereas VIG spans roughly 340. The Dividend ETF Comparison Guide covers this in greater detail.
Q. What happens if a stock falls off the Dividend Achievers list?
Any dividend cut or freeze results in immediate removal from the list, and the stock is also dropped from VIG and similar ETFs at the next rebalance. When 3M (MMM) cut its dividend for the first time in 66 years in 2024, it was simultaneously removed from the Kings, Aristocrats, Champions, and Achievers lists.
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