Dividend growth large caps
Query: US large-cap dividend growth stocks with dividend yield above 2.5%, payout ratio below 65% and 5-year dividend growth above 5% · data as of 2026-10-09
Dividend Growth Leaders screen built: 45 US large caps (>$10B) with dividend yield >2.5%, payout ratio <65%, and 5-year dividend growth >5%, ranked by 5-year dividend CAGR. Includes company/sector/industry, market cap, yield, payout ratio, 5Y dividend growth, dividend per share, 1M/6M/1Y returns, P/E (TTM), forward P/E, and % from 52-week high, plus per-row commentary and a tableside narrative.
US large caps (>$10B) with dividend yield above 2.5%, payout ratio under 65%, and a 5-year dividend growth rate above 5%, ranked by dividend growth. 45 names qualified as of October 9, 2026.
Dividend Growth Screen — High-Growth Payouts
| Symbol | Company | Sector | Industry | Market Cap | Dividend Yield | Payout Ratio | 5Y Dividend Growth (CAGR) | Dividend / Share (TTM) | 1M Return | 6M Return | 1Y Return | P/E (TTM) | Forward P/E | % from 52W High | Comments |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BAP | Credicorp Ltd. | Financials | Banks - Regional | 3.041e+10 | 3.75% | 52.90% | 63.80% | 14.276 | 0.47% | 14.25% | 50.94% | 14.13 | 11.21 | -5.24% | Peru's largest bank; the eye-popping CAGR mostly reflects a return to a normal payout after COVID-era dividend suspensions, not a durable compounding rate. MSCI-relevant, so index flows add a tailwind, but political risk in Peru and FX translation are the swing factors. |
| AU | AngloGold Ashanti PLC | Materials | Gold | 4.762e+10 | 4.04% | 50.90% | 52.90% | 4.52 | -9.36% | -12.21% | 27.15% | 12.62 | 9.46 | -26.59% | Gold miner with a variable dividend policy tied to free cash flow — the growth rate is really a gold-price story. Because payouts reset with earnings, a peak in bullion would compress the dividend as fast as it expanded. |
| EC | Ecopetrol S.A. | Energy | Oil & Gas Integrated | 3.409e+10 | 3.90% | 42.60% | 48.00% | 0.661 | -6.25% | 26.11% | 97.13% | 10.93 | 11.07 | -7.23% | Colombia's state oil major; high payout is a function of commodity earnings and government revenue needs, making it politically sensitive and prone to capital-allocation shifts. Deep-value but governance-heavy. |
| GFI | Gold Fields Limited | Materials | Gold | 3.28e+10 | 3.92% | 36.60% | 47.10% | 2.456 | -17.57% | -23.68% | -10.69% | 9.35 | 6.86 | -40.14% | South African gold miner whose dividend is explicitly formulaic on free cash flow — the metric will track the gold cycle rather than management intent. Cost inflation and South African grid/logistics issues are the operational risks. |
| BBVA | Banco Bilbao Vizcaya Argentaria | Financials | Banks - Diversified | 1.359e+11 | 4.12% | 49.20% | 45.70% | 1.077 | -9.43% | 13.27% | 45.13% | 11.93 | 10.52 | -11.88% | Spanish bank combining buybacks and cash dividends from record net interest income; the sustainability question is how fast ECB rate cuts compress that NII base. Also carries meaningful emerging-market FX exposure via Mexico and Turkey. |
| NWG | NatWest Group plc | Financials | Banks - Regional | 7.401e+10 | 5.50% | 46.70% | 39.30% | 0.943 | -7.00% | 13.56% | 22.02% | 8.48 | 7.91 | -11.79% | UK bank that has shifted from post-crisis survivor to a capital-return machine; buybacks are doing as much work as the dividend. Watch UK rate-path sensitivity and any windfall-tax or motor-finance provisioning headlines. |
| BCS | Barclays PLC | Financials | Banks - Diversified | 8.884e+10 | 2.70% | 23.70% | 30.20% | 0.62 | -12.44% | -2.20% | 14.68% | 8.76 | 6.75 | -19.64% | The lowest payout ratio in the screen, leaving plenty of room to both keep raising the payout and fund buybacks. Investment-bank earnings volatility and UK policy risk are why the market still discounts it versus US peers. |
| HSBC | HSBC Holdings, plc. | Financials | Banks - Diversified | 3.18e+11 | 4.03% | 53.60% | 27.80% | 3.75 | -10.34% | 4.08% | 36.04% | 13.28 | 9.82 | -13.80% | Asia-centric global bank; the dividend growth is really an unwinding of the COVID dividend ban combined with a successful pivot toward Asian wealth management. China commercial-real-estate exposure remains the recognized risk. |
| EXE | Expand Energy Corporation | Energy | Oil & Gas E&P | 2.042e+10 | 2.61% | 19.80% | 27.30% | 2.3 | -8.93% | -9.80% | -17.00% | 7.61 | 9.93 | -28.21% | Pure-play gas producer whose variable dividend is levered to natural-gas prices, not a stable grower. The growth rate looks impressive but is inherently volatile and will fall hard if US gas prices mean-revert. |
| EQNR | Equinor ASA | Energy | Oil & Gas Integrated | 8.063e+10 | 3.53% | 41.20% | 26.50% | 1.52 | -4.66% | 12.61% | 83.28% | 11.66 | 11.74 | -5.99% | Norwegian state-controlled oil major; Norway's political appetite for higher payouts drives the shift from buybacks toward base dividends. Cyclical earnings plus a windfall-tax regime are the key variables. |
| PAG | Penske Automotive Group, Inc. | Consumer Discretionary | Auto & Truck Dealerships | 1.288e+10 | 2.88% | 41.00% | 26.50% | 5.64 | -9.44% | 27.58% | 20.35% | 14.27 | 13.58 | -12.21% | Auto dealer converting strong balance-sheet cash into a rising dividend; unlike the ADR-heavy top of this list, its growth is genuine earnings-based. New-vehicle affordability, used-car margins and EV transition are the watch items. |
| LYG | Lloyds Banking Group Plc | Financials | Banks - Regional | 8.728e+10 | 4.03% | 50.70% | 25.90% | 0.218 | -8.15% | -0.12% | 21.33% | 12.58 | 8.49 | -13.85% | UK retail bank whose heavy post-COVID normalization and buybacks drive the growth rate. The motor-finance commission review and rate-cut sensitivity on NIM are the overhangs. |
| AEG | Aegon Ltd. New York Registry Sh | Financials | Insurance - Diversified | 1.22e+10 | 3.00% | 35.80% | 24.30% | 0.493 | -8.95% | 10.72% | 13.02% | 11.94 | 8.8 | -13.54% | Dutch insurer/asset manager with a simplified structure and expanding capital returns; the growth rate is partly a base effect from pre-2021 cuts. US life/retirement operations are the swing earnings engine. |
| WDS | Woodside Energy Group Limited (ADR) | Energy | Oil & Gas E&P | 4.509e+10 | 2.61% | 41.50% | 22.50% | 1.16 | -5.53% | -2.34% | 57.50% | 15.89 | 15.93 | -8.92% | Australian LNG producer where the dividend is levered to spot energy and production growth projects; the market focuses on the Scarborough expansion timeline and Chinese/Japanese contract demand, not the payout rate. |
| LEN | Lennar Corporation | Consumer Discretionary | Residential Construction | 1.824e+10 | 2.61% | 31.30% | 20.90% | 2.5 | -0.91% | -12.26% | -34.45% | 12.02 | 11.83 | -42.39% | Homebuilder whose dividend reflects a deliberate shift from buybacks to cash returns as order growth cooled. Its yield is unusually high for the group, signaling the market's expectation that the housing cycle has peaked. |
| NVO | Novo Nordisk A/S | Health Care | Drug Manufacturers - General | 2.067e+11 | 3.30% | 31.40% | 19.70% | 1.854 | -12.20% | 4.30% | -31.94% | 9.52 | 11.34 | -39.61% | The quality name at the top of the list by scale: dividend growth is genuine, funded from GLP-1 cash flows, and its depressed multiple reflects competition/pricing worries rather than balance-sheet stress. Payout remains conservative. |
| ZTS | Zoetis Inc. | Health Care | Drug Manufacturers - Specialty & Generic | 3.091e+10 | 2.79% | 34.10% | 17.10% | 2.09 | 2.68% | -35.81% | -46.86% | 12.2 | 11.25 | -49.29% | Animal-health leader with durable recurring revenue from parasiticides and vaccines; strong free-cash-flow conversion funds a steadily rising dividend. Near-term overhang is the veterinary-clinic channel and pet-ownership normalization. |
| PCAR | PACCAR Inc. | Industrials | Farm & Heavy Construction Machinery | 5.687e+10 | 2.56% | 58.10% | 15.40% | 2.76 | -11.85% | -14.57% | 15.64% | 22.75 | 15.14 | -21.83% | Truck maker with a net-cash balance sheet and a long record of special dividends on top of the regular payout; the growth rate understates total cash returned. Freight-cycle weakness is the key sensitivity. |
| SHEL | Shell PLC | Energy | Oil & Gas Integrated | 2.185e+11 | 3.02% | 33.40% | 15.10% | 3.0224 | 4.40% | 10.59% | 40.19% | 11.08 | 11.36 | -0.02% | Integrated oil major prioritizing buybacks plus a growing base dividend; the growth rate reflects the post-2020 rebase that management has continued to lift. LNG and chemicals are the growth engines beyond upstream. |
| OTIS | Otis Worldwide Corporation | Industrials | Specialty Industrial Machinery | 2.511e+10 | 2.61% | 44.20% | 14.30% | 1.72 | -2.86% | -16.51% | -26.17% | 16.95 | 14.41 | -29.56% | Elevator and escalator service business where high-margin maintenance contracts underpin predictable cash flow and a rising payout. New-equipment slowdown in China is the offsetting drag. |
| ING | ING Group, N.V. | Financials | Banks - Diversified | 8.989e+10 | 4.01% | 50.10% | 13.60% | 1.338 | -9.00% | 29.61% | 35.19% | 12.5 | 10.46 | -10.46% | Dutch bank with a large fee-based retail franchise; capital returns have been expanded aggressively and the base regulatory capital is now comfortable. Rate-cut sensitivity and a slowing Eurozone economy are the cautions. |
| LOW | Lowe's Companies, Inc. | Consumer Discretionary | Home Improvement Retail | 1.044e+11 | 2.61% | 41.00% | 13.30% | 4.85 | -5.39% | -23.00% | -20.11% | 15.71 | 13.94 | -35.28% | Pro-focused home-improvement retailer; dividend growth reflects resilient Pro demand and share buybacks. Housing turnover and consumer big-ticket spending remain the cyclical risks. |
| DRI | Darden Restaurants, Inc. | Consumer Discretionary | Restaurants | 2.236e+10 | 3.10% | 58.60% | 12.10% | 6.12 | -4.76% | 3.57% | 8.52% | 18.93 | 15.96 | -13.19% | Casual-dining operator where the dividend is well covered by restaurant free cash flow; the debate is traffic versus menu pricing, with value offerings aimed at protecting the lower-income customer. |
| RF | Regions Financial Corporation | Financials | Banks - Regional | 2.303e+10 | 2.94% | 32.30% | 11.50% | 1.095 | -9.75% | 0.24% | 11.20% | 10.99 | 9.51 | -16.57% | Regional bank with a conservative payout ratio and a growing fee revenue base from wealth management; net-interest-income sensitivity to Fed cuts and commercial-credit quality are the principal watch items. |
| SPG | Simon Property Group, Inc. | Real Estate | REIT - Retail | 7.57e+10 | 3.33% | 47.00% | 10.10% | 8.9 | -2.57% | 1.60% | 17.07% | 14.08 | 29.74 | -15.75% | The largest US mall REIT and one of the few dividend growers in retail real estate after cutting through the pandemic; high-quality occupancy is the story. Rising rates and tenant-health risk are the overhangs. |
| EOG | EOG Resources, Inc. | Energy | Oil & Gas E&P | 7.771e+10 | 2.75% | 31.80% | 9.60% | 4.08 | 0.47% | 10.45% | 38.74% | 11.53 | 10.19 | -3.63% | Shale oil producer with a disciplined variable-plus-base dividend; growth reflects the industry-wide shift to returning cash rather than chasing volumes. The payout is levered to oil prices despite a low accounting payout ratio. |
| TGT | Target Corporation | Consumer Staples | Discount Stores | 6.98e+10 | 2.98% | 60.60% | 9.30% | 4.58 | -1.34% | 28.22% | 76.88% | 20.32 | 16.83 | -9.57% | Big-box retailer that has raised the dividend for decades; the yield looks elevated because the stock de-rated on discretionary margin pressure and inventory risk. Turnaround progress in general merchandise is the catalyst to watch. |
| HPQ | HP Inc. | Information Technology | Computer Hardware | 2.723e+10 | 2.98% | 33.30% | 9.10% | 1.2 | -7.73% | 69.03% | 17.42% | 11.19 | 10.04 | -14.88% | PC and printer maker using strong free cash flow to fund a rising dividend and buybacks; the AI-PC refresh is the potential catalyst, while the structural decline in printing is the long-term drag. |
| FNF | Fidelity National Financial, In | Financials | Insurance - Specialty | 1.041e+10 | 4.02% | 54.40% | 8.70% | 2.08 | -10.65% | -16.30% | -25.86% | 13.52 | 6.7 | -32.65% | Title-insurance and diversified financial whose dividend is supported by fee income that is less rate-sensitive than the group's mortgage-exposed peers; deal flow and title volumes are the cyclical variables. |
| EXC | Exelon Corporation | Utilities | Utilities - Regulated Electric | 4.302e+10 | 2.97% | 45.60% | 8.70% | 1.66 | -3.76% | -12.39% | -7.14% | 15.35 | 13.77 | -16.96% | Regulated electric utility with a strong dividend growth record and a large but capital-hungry grid investment plan; upside is rate-base growth, risk is rising financing costs and regulatory lag. |
| PNC | PNC Financial Services Group, I | Financials | Banks - Regional | 8.745e+10 | 3.24% | 39.10% | 8.60% | 7.1 | -9.78% | 0.69% | 19.07% | 12.07 | 10.26 | -14.69% | Large regional bank with modest payout ratio and steady dividend raises; watch credit quality and NII sensitivity to rate cuts, plus its sizable securities-book unrealized losses. |
| AWK | American Water Works Company, I | Utilities | Utilities - Regulated Water | 2.561e+10 | 2.67% | 59.80% | 8.40% | 3.446 | -7.84% | -4.78% | -6.12% | 22.38 | 19.63 | -11.38% | Largest US investor-owned water utility — among the most bond-like growth stories in the screen, with regulated rate-base expansion funding a steady dividend. Higher rates compress its premium valuation. |
| NKE | Nike, Inc. | Consumer Discretionary | Footwear & Accessories | 5.156e+10 | 3.54% | 58.60% | 8.30% | 1.64 | -5.22% | -16.96% | -48.10% | 16.53 | 15.11 | -50.19% | Global sportswear leader whose dividend growth reflects years of cash generation now pressured by a demand reset and competitive share loss. A margin-recovery turnaround makes it a contrarian dividend-growth idea. |
| ALLY | Ally Financial Inc. | Financials | Credit Services | 1.143e+10 | 3.19% | 28.20% | 7.90% | 1.2 | -10.86% | -7.66% | -1.03% | 8.84 | 5.85 | -20.44% | Digital bank and auto lender with a cyclical, credit-levered dividend; the payout looks safe but depends on used-car values and consumer credit stress, so it is the highest-beta income name here. |
| BBY | Best Buy Co., Inc. | Consumer Discretionary | Specialty Retail | 1.825e+10 | 3.30% | 53.10% | 7.60% | 3.83 | -0.19% | 42.85% | 19.10% | 16.11 | 12.31 | -8.25% | Electronics retailer whose dividend is well covered by services and membership income; tariff pressure on product costs and a soft consumer-electronics cycle are the concerns. |
| CMCSA | Comcast Corporation | Communication Services | Telecom Services | 7.331e+10 | 4.79% | 31.70% | 7.50% | 1.32 | -16.64% | -23.86% | -24.52% | 6.62 | 5.7 | -36.39% | Cable and media giant where the yield has been pushed up by multiple compression; broadband competition and theme-park/studio dynamics are the swing factors. Watch the pace of buybacks alongside the dividend. |
| INFY | Infosys Limited | Information Technology | Information Technology Services | 4.346e+10 | 4.83% | 64.00% | 7.30% | 0.518 | -1.65% | -17.52% | -33.53% | 13.25 | 12.64 | -46.93% | Indian IT services leader with a conservative payout plus periodic buybacks; growth depends on Western IT budgets and AI-driven deal mix, while currency and visa policy add noise for ADR holders. |
| RELX | RELX PLC PLC | Industrials | Specialty Business Services | 5.476e+10 | 2.59% | 55.30% | 6.90% | 0.935 | 6.83% | 11.49% | -19.01% | 21.38 | 16.72 | -22.80% | Information-services and analytics publisher with high recurring revenue and an expanding dividend; its AI-search risk narrative is precisely why it trades at a discount to quality peers. |
| MKC | McCormick & Company, Incorporat | Consumer Staples | Packaged Foods | 1.206e+10 | 4.22% | 31.50% | 6.80% | 1.89 | -12.31% | -15.06% | -29.71% | 7.46 | 13.59 | -37.46% | Spice and flavorings maker with defensive volumes and pricing power; the higher yield reflects a growth reset after volume weakness, which a recovery would make attractive. |
| PEP | Pepsico, Inc. | Consumer Staples | Beverages - Non-Alcoholic | 1.717e+11 | 3.43% | 56.80% | 6.70% | 5.806 | -7.82% | -18.09% | -5.59% | 16.53 | 14.03 | -26.11% | Dividend king with an unbroken raise streak; the elevated yield reflects questions about pricing power and GLP-1-driven snacking habits, but its cash-flow durability anchors the payout. |
| STZ | Constellation Brands, Inc. | Consumer Staples | Beverages - Brewers | 2.075e+10 | 3.34% | 39.00% | 6.30% | 4.1 | -0.94% | -25.11% | -11.58% | 11.67 | 9.9 | -26.42% | Beer and spirits producer whose payout is conservative even as its P/E has collapsed on concerns about value-seeking consumers and tariff exposure; a top-quality dividend grower at a beaten-down multiple. |
| NI | NiSource Inc | Utilities | Utilities - Regulated Gas | 1.955e+10 | 2.90% | 62.80% | 6.30% | 1.18 | -1.59% | -14.07% | -4.67% | 21.68 | 18.08 | -16.95% | Regulated gas utility with a multi-year capital plan supporting steady dividend growth; rate-case outcomes and rising bond yields are the key sensitivities. |
| VICI | VICI Properties Inc. | Real Estate | REIT - Diversified | 2.519e+10 | 5.90% | 52.30% | 6.00% | 1.81 | -5.71% | -15.66% | -22.10% | 8.87 | 7.65 | -27.18% | Experiential REIT whose long-dated triple-net casino leases escalate with inflation, giving unusually visible dividend growth for the sector; the highest yield in the screen reflects REIT structure and rate sensitivity. |
| EIX | Edison International | Utilities | Utilities - Regulated Electric | 2.128e+10 | 4.76% | 27.20% | 5.80% | 3.512 | -0.95% | -24.89% | 9.24% | 5.71 | 8.5 | -31.20% | California utility with a strong dividend growth record and heavy wildfire-risk exposure; the dividend depends on the state's fire-fund and cost-recovery framework, making headline risk the major variable. |
| ES | Eversource Energy (D/B/A) | Utilities | Utilities - Regulated Electric | 2.476e+10 | 3.54% | 49.90% | 5.60% | 3.117 | -3.60% | -3.83% | -6.43% | 14.07 | 13.39 | -13.75% | Northeast regulated utility steadily growing its payout from regulated rate-base investment; offshore-wind exposure and rising rates on its capital program are the overhangs. |
0
What this screen is really showing
Every name here sits in the same three-filter box — yield above 2.5%, payout under 65%, and a 5-year dividend growth rate above 5% — but the top of the list is not what most income investors expect. The highest growth rates come almost entirely from non-US banks, insurers and commodity producers (ADRs) whose 2021 dividend base was artificially suppressed by COVID-era regulatory bans or a commodity trough. Credicorp, BBVA, NatWest, Barclays, HSBC, Lloyds, ING and Aegon are all recovering from that base effect, so their double-digit CAGRs overstate forward growth potential. The same caveat applies to the gold and energy names — AngloGold, Gold Fields, Ecopetrol, Equinor and Expand Energy pay variable dividends tied to commodity cash flow, which expand and contract with the cycle rather than compounding.
The more durable dividend-growth stories sit lower in the table, where the filings show earnings-funded, conservatively-covered payouts: Shell and EOG in energy, Otis and PACCAR in industrials, Novo Nordisk and Zoetis in health care, and the regulated utilities (American Water, NiSource, Eversource, Exelon). Several consumer staples and discretionary names — PepsiCo, Constellation Brands, Target, Nike, Lowe's, Darden — land here with unusually high yields for their quality precisely because their multiples have de-rated on growth concerns, which is exactly the trade-off this screen is designed to surface.
Context matters: the macro backdrop is a 4.6% 10-year Treasury with a firm dollar and continued pressure on rate-sensitive value, so a 3–5% dividend yield only competes if the payout is growing. That makes the payout-ratio column the most important risk gauge in the table — a low ratio (Barclays, PNC, EOG, Aegon) signals room to raise even if earnings wobble, while names closer to 65% (Infosys, Target, NiSource, American Water) have less buffer.
How to use it
Treat the ranking as a starting universe, not a buy list. The CAGR column is most meaningful for the domestic, earnings-funded names and least meaningful for the ADRs and variable-dividend commodity producers at the top. Cross-reference the payout ratio, the P/E, and the drawdown from the 52-week high together — several names here are cheap for a reason, and this screen deliberately shows both the fundamental quality and the market's current skepticism side by side.
Run a version of this yourself
Describe the idea in plain English and Relaxfolio returns a researchable shortlist with the charts, fundamentals, and risks attached.
Educational research tool — not investment advice. A screen is a starting point, not a recommendation.