10 Dividend Growth Stocks For March 2023
The ten top-ranked Dividend Radar stocks for March 2023 have qualifying Adjusted Chowder Numbers and a forward yield that exceeds the 5-year average yield.
I write a monthly series 10 Dividend Growth Stocks on Seeking Alpha.
In the series, I rank a selection of dividend growth stocks in Dividend Radar and present the ten top-ranked stocks for further research and possible investment.
I rank stocks by sorting them in descending order by quality score and using tie-breaking metrics where necessary. My quality scoring system employs widely used quality indicators from independent sources to assess the quality of dividend growth stocks.
This month I decided to rank Dividend Radar stocks with qualifying Chowder Numbers based on the Chowder Rule of dividend growth investing. Such stocks are likely to deliver annualized returns of at least 8%. I also included a valuation screen, looking for dividend growth stocks with a forward yield exceeding its 5-year average yield.
Please read this article at Seeking Alpha to see the ten top-ranked dividend growth stocks for March 2022. As usual, I provide fair value estimates and key metrics for each of the stocks.
Only for DivGro 2.0 Readers
As a special treat for DivGro 2.0 readers, I'm including a table of stocks passing my monthly screens and ranked 11-20. Together with the top-ten ranked stocks (available only in the Seeking Alpha article), the combined list will give DivGro 2.0 readers 20 candidates to consider. Enjoy!
| Rank | Ticker | Yrs | Qual | Fwd Yield | 5-Avg Yield | 5-DGR | 5-EGR | 5-RGR | 5-YOC | ACN | 5-TTR | VL PS | VL FS | MS EM | SP CR | SS DS | PI DQ | Buy Below | –Disc +Prem | Price |
| 11 | JBHT | 20 | 24 | 1.01% | 0.85% | 11.7% | 21.6% | 15.6% | 1.9% | 15 | 9.6% | 205 | –19% | 166.10 | ||||||
| 12 | EVRG | 20 | 24 | 4.12% | 3.32% | 7.8% | 10.3% | 17.9% | 6.4% | 13 | 7.2% | 69 | –14% | 59.45 | ||||||
| 13 | LSTR | 10 | 24 | 0.69% | 0.61% | 27.1% | 26.1% | 15.3% | 1.8% | 21 | 11.3% | 192 | –10% | 173.17 | ||||||
| 14 | TMO | 6 | 24 | 0.25% | 0.22% | 14.9% | 19.6% | 16.5% | 0.5% | 16 | 24.0% | 611 | –9% | 558.26 | ||||||
| 15 | TSCO | 14 | 24 | 1.81% | 1.30% | 28.5% | 23.9% | 14.4% | 4.3% | 21 | 26.4% | 259 | –12% | 227.21 | ||||||
| 16 | EPD | 26 | 24 | 7.74% | 7.66% | 2.4% | 14.2% | 14.8% | 11.5% | 16 | 5.6% | 28 | –11% | 25.31 | ||||||
| 17 | BKH | 53 | 23 | 4.10% | 3.18% | 5.9% | 3.4% | 8.7% | 5.1% | 9 | 6.6% | 71 | –15% | 60.97 | ||||||
| 18 | MTB | 7 | 22 | 4.52% | 2.92% | 9.9% | 7.1% | 7.0% | 6.4% | 12 | -0.5% | 165 | –31% | 114.93 | ||||||
| 19 | ODFL | 7 | 22 | 0.49% | 0.35% | 35.1% | 32.8% | 13.3% | 1.4% | 23 | 27.0% | 340 | –3% | 329.50 | ||||||
| 20 | FAST | 24 | 22 | 2.68% | 2.35% | 14.1% | 14.5% | 9.7% | 4.7% | 15 | 14.6% | 52 | +1% | 52.30 |
| Rank | Company (Ticker) | Sector | Supersector |
| 11 | J.B. Hunt Transport Services (JBHT) | Industrials | Sensitive |
| 12 | Evergy (EVRG) | Utilities | Defensive |
| 13 | Landstar System (LSTR) | Industrials | Sensitive |
| 14 | Thermo Fisher Scientific (TMO) | Health Care | Defensive |
| 15 | Tractor Supply (TSCO) | Consumer Discretionary | Cyclical |
| 16 | Enterprise Products Partners (EPD) | Energy | Sensitive |
| 17 | Black Hills (BKH) | Utilities | Defensive |
| 18 | M&T Bank (MTB) | Financials | Cyclical |
| 19 | Old Dominion Freight Line (ODFL) | Industrials | Sensitive |
| 20 | Fastenal (FAST) | Industrials | Sensitive |
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