- Member companies raised dividends every year for more than 25
- Erie Indemnity, Eversource Energy, FactSet Research added
- Index now 69 stocks strong with combined 2.39% income yield
The S&P 500 Dividend Aristocrats, an index that follows companies with a history of raising their dividends for at least 25 consecutive years, has announced its annual rebalancing, adding three new names to its exclusive membership that includes the likes of ExxonMobil (XOM:NYSE), PepsiCo (PEP:NASDAQ), and General Dynamics (GD:NYSE).
Effective at the market close on 31 January 2025, Erie Indemnity (ERIE:NASDAQ), Eversource Energy (ES:NYSE), and FactSet Research Systems (FDS:NYSE) were added to the index, taking the total number of member stocks to 69.
Erie Indemnity, a property and casualty insurance company that provides auto, home, business, and life insurance, is one of the new additions. The company was established in Erie, Pennsylvania in April 1925 by HO Hirt and OG Crawford.
Latest quarterly earnings showed Erie Indemnity’s quarterly net income rose from $131 million in Q3 2023 to $159.8 million in Q3 2024, a year-on-year increase of 22%.
ENERGY & DATA
Eversource Energy, an energy company based in Hartford, Connecticut, and Boston, Massachusetts, is another new member. The company, which dates back to the mid-19th century, currently serves 4.4 million customers in the New England region.
As of 31 January 2025, Eversource offered a 4.96% dividend yield, significantly higher than the S&P 500 Dividend Aristocrats’ dividend yield of 2.39%.
The third new addition, FactSet Research Systems, the financial data company, was founded in 1978 by Howard Wille and Chuck Snyder. Based in Norwalk, Connecticut, is a truly global operator with offices in 20 countries.
As per FactSet’s latest quarterly earnings release, as of 30 November 2024, the company was highly profitable, with a gross margin of 54.5%, a return on equity of 29.2%, and a return on invested capital of 15.6%.
