Companies That Usually Raise Their Dividend in July
Five-year record · updated
Key facts: dividend raises in July
Data as of · Source: SmarterDividends data
- As of Oct 19, 2026, 50 U.S.-listed dividend stocks usually declare their first dividend increase of the year in July, based on SmarterDividends' records of the last five complete years; 23 did so in July in all five.
- The largest companies that usually raise their dividend in July are Bank of America (BAC), Morgan Stanley (MS), Goldman Sachs (GS), Wells Fargo (WFC) and Citigroup (C).
- The typical first raise of the year among companies that raise in July is 8.3%, the median of each company's five-year median increase.
- As of Oct 19, 2026, 47 of the 50 companies that usually raise in July have raised their dividend this year, and 3 have not.
- Among them, PPG Industries (PPG) has the longest dividend-growth streak, 42 consecutive years.
- Goldman Sachs (GS) has had the largest typical raise among July raisers, a median of 25.0% over the last five years.
Cite this page
SmarterDividends, "Companies That Usually Raise Their Dividend in July," updated Oct 19, 2026, https://smarterdividends.com/dividend-raise-calendar/july
Every company that usually raises in July (50)
July raisers, one by one
- Bank of America (BAC) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 14.3%, was declared on Jul 24, 2026.
- Morgan Stanley (MS) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 15.0%, was declared on Jul 15, 2026.
- Goldman Sachs (GS) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 11.1%, was declared on Jul 13, 2026.
- Wells Fargo (WFC) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 11.1%, was declared on Jul 28, 2026.
- Citigroup (C) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 11.7%, was declared on Jul 21, 2026.
- McKesson (MCK) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 14.6%, was declared on Jul 21, 2026.
- Bank of New York Mellon (BNY) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 18.9%, was declared on Jul 15, 2026.
- Duke Energy (DUK) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 1.9%, was declared on Jul 14, 2026.
- Marsh & McLennan (MRSH) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 10.0%, was paid from the dividend that went ex-dividend on Jul 23, 2026.
- PNC Financial Services (PNC) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 17.6%, was declared on Jul 6, 2026.
- Cintas (CTAS) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 15.6%, was declared on Jul 28, 2026.
- Mondelez (MDLZ) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 4.0%, was declared on Jul 28, 2026.
- Cummins (CMI) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 10.0%, was declared on Jul 12, 2026.
- Republic Services (RSG) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 7.2%, was declared on Jul 28, 2026.
- State Street (STT) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 9.5%, was declared on Jul 14, 2026.
- Hershey (HSY) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 6.0%, was declared on Feb 4, 2026.
- PPG Industries (PPG) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 4.2%, was declared on Jul 16, 2026.
- Regions Financial (RF) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 13.2%, was declared on Jul 15, 2026.
- STERIS (STE) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 9.5%, was declared on Jul 30, 2026.
- Unum (UNM) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 9.8%, was declared on Jul 9, 2026.
- Stanley Black & Decker (SWK) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 1.2%, was declared on Jul 23, 2026.
- J. M. Smucker (SJM) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 1.8%, was declared on Jul 17, 2026.
- Essential Utilities (WTRG) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 5.2%, was declared on Jul 29, 2026.
- Clorox (CLX) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 0.8%, was declared on Jul 31, 2026.
- SouthState Bank (SSB) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 10.0%, was declared on Jul 22, 2026.
- Littelfuse (LFUS) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 6.7%, was declared on Jul 23, 2026.
- Cullen/Frost Bankers (CFR) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 3.0%, was declared on Apr 30, 2026.
- FirstCash (FCFS) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 10.5%, was declared on Jul 23, 2025.
- Ryder System (R) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 11.0%, was declared on Jul 9, 2026.
- Corteva (CTVA) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 5.9%, was declared on Jul 29, 2025.
- NNN REIT (NNN) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 3.3%, was declared on Jul 15, 2026.
- Conagra Brands (CAG) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 6.1%, was declared on Jul 13, 2023.
- Rush Enterprises (RUSHB) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 10.5%, was declared on Jul 28, 2026.
- Landstar System (LSTR) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 10.0%, was declared on Jul 27, 2026.
- MGIC Investment (MTG) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 13.3%, was declared on Jul 23, 2026.
- Rush Enterprises (RUSHA) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 10.5%, was declared on Jul 28, 2026.
- New Jersey Resources (NJR) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 5.3%, was declared on Sep 10, 2026.
- Cactus (WHD) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 7.1%, was declared on Jul 29, 2026.
- Wingstop (WING) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 10.0%, was declared on Jul 28, 2026.
- American States Water (AWR) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 8.3%, was declared on Jul 28, 2026.
How to read the raise calendar
Companies that raise their dividend every year usually do it at the same time each year, often alongside a particular quarter's results. Coca-Cola, for example, declares its higher dividend in February.
The month here is when the company declared its first higher dividend of the year. The higher payment goes ex-dividend a few weeks later and is paid after that. A raise announced in a press release can come earlier than the declaration.
Past timing is a pattern, not a promise. A company can skip a year or cut instead, which is why the table shows whether this year's raise has arrived.
Frequently asked questions
Which companies raise their dividends in July?
50 U.S. dividend stocks usually do, including Bank of America (BAC), Morgan Stanley (MS), Goldman Sachs (GS), Wells Fargo (WFC), Citigroup (C) and McKesson (MCK). The table above lists all of them with their five-year record.
When does Bank of America raise its dividend?
Usually in July. Bank of America (BAC) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 14.3%, was declared on Jul 24, 2026.
When does Morgan Stanley raise its dividend?
Usually in July. Morgan Stanley (MS) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 15.0%, was declared on Jul 15, 2026.
When does Goldman Sachs raise its dividend?
Usually in July. Goldman Sachs (GS) has declared its first higher dividend of the year in July in 5 of the last 5 years; its most recent raise, 11.1%, was declared on Jul 13, 2026.
When does Wells Fargo raise its dividend?
Usually in July. Wells Fargo (WFC) has declared its first higher dividend of the year in July in 4 of the last 5 years; its most recent raise, 11.1%, was declared on Jul 28, 2026.
When does Citigroup raise its dividend?
Usually in July. Citigroup (C) has declared its first higher dividend of the year in July in 3 of the last 5 years; its most recent raise, 11.7%, was declared on Jul 21, 2026.
How much do companies raise their dividends in July?
The typical first raise of the year among July raisers is about 8.3%. Individual raises range widely, from token increases to double digits; the table shows each company's last raise and its usual size.
Is a dividend raise guaranteed?
No. These months describe what companies have done, not a promise. A company can skip a raise, change its timing, or cut its dividend; only its board decides, and it announces each dividend shortly before paying it.
How is the raise month decided here?
For each company, SmarterDividends takes the first higher dividend of each of the last five complete years and records the month it was declared (or, where the declaration date is missing, the month it went ex-dividend). A company appears in the month that happened most often, at least three times in five years. Companies that raise several times a year are left out.
Related
Raise months are derived from SmarterDividends' payment and declaration records for the last five complete years. For information only, not investment advice. Full calendar.