Companies That Usually Raise Their Dividend in May
Five-year record · updated
Key facts: dividend raises in May
Data as of · Source: SmarterDividends data
- As of Oct 19, 2026, 55 U.S.-listed dividend stocks usually declare their first dividend increase of the year in May, based on SmarterDividends' records of the last five complete years; 26 did so in May in all five.
- The largest companies that usually raise their dividend in May are Apple (AAPL), PepsiCo (PEP), Chubb (CB), Medtronic (MDT) and Lowe's (LOW).
- The typical first raise of the year among companies that raise in May is 6.3%, the median of each company's five-year median increase.
- As of Oct 19, 2026, 47 of the 55 companies that usually raise in May have raised their dividend this year, and 8 have not.
- Among them, PepsiCo (PEP) has the longest dividend-growth streak, 53 consecutive years.
- Marriott International (MAR) has had the largest typical raise among May raisers, a median of 25.6% over the last five years.
Cite this page
SmarterDividends, "Companies That Usually Raise Their Dividend in May," updated Oct 19, 2026, https://smarterdividends.com/dividend-raise-calendar/may
Every company that usually raises in May (55)
May raisers, one by one
- Apple (AAPL) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 3.8%, was declared on Apr 30, 2026.
- PepsiCo (PEP) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.0%, was declared on May 6, 2026.
- Chubb (CB) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 5.2%, was declared on May 21, 2026.
- Medtronic (MDT) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 1.4%, was declared on Jun 3, 2026.
- Lowe's (LOW) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.2%, was declared on May 29, 2026.
- Marriott International (MAR) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 9.0%, was declared on May 8, 2026.
- KKR & (KKR) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 5.4%, was declared on May 5, 2026.
- Northrop Grumman (NOC) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 6.9%, was declared on May 19, 2026.
- Apollo Global Management (APO) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 10.4%, was declared on May 6, 2026.
- Cardinal Health (CAH) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 1.0%, was declared on May 5, 2026.
- American International (AIG) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 11.1%, was declared on Apr 30, 2026.
- Ralph Lauren (RL) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 9.5%, was declared on May 14, 2026.
- LyondellBasell Industries (LYB) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 2.2%, was declared on May 23, 2025.
- Bunge Global SA (BG) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 2.9%, was declared on Mar 26, 2026.
- Curtiss-Wright (CW) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 8.3%, was declared on May 13, 2026.
- IDEX (IEX) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 2.8%, was declared on May 6, 2026.
- Equitable (EQH) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 11.1%, was declared on May 20, 2026.
- CNA Financial (CNA) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 4.3%, was declared on May 1, 2026.
- Lennox International (LII) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 4.6%, was declared on May 21, 2026.
- Watts Water Technologies (WTS) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 21.2%, was declared on May 4, 2026.
- FactSet Research Systems (FDS) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 5.5%, was declared on May 1, 2026.
- Donaldson (DCI) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 6.7%, was declared on May 29, 2026.
- Advanced Drainage Systems (WMS) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 11.1%, was declared on May 21, 2026.
- Houlihan Lokey (HLI) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 16.7%, was declared on May 6, 2026.
- Tetra Tech (TTEK) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 10.8%, was declared on Apr 27, 2026.
- UGI (UGI) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 4.2%, was declared on May 3, 2023.
- Timken (TKR) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 2.9%, was declared on May 8, 2026.
- Simpson Manufacturing (SSD) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 3.4%, was declared on May 6, 2026.
- MSA Safety (MSA) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 1.9%, was declared on May 4, 2026.
- Pool (POOL) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.0%, was declared on Apr 29, 2026.
- RLI (RLI) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 12.5%, was declared on Aug 13, 2026.
- Hamilton Lane (HLNE) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 11.1%, was declared on May 21, 2026.
- Materion (MTRN) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 3.6%, was declared on May 7, 2026.
- CNO Financial (CNO) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 5.9%, was declared on May 6, 2026.
- Installed Building Products (IBP) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 5.4%, was declared on May 6, 2026.
- Brink's (BCO) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.9%, was declared on May 7, 2025.
- ESAB (ESAB) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 20.0%, was declared on May 8, 2026.
- Cabot (CBT) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 5.1%, was declared on May 1, 2026.
- National HealthCare (NHC) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.7%, was declared on May 7, 2026.
- Ermenegildo Zegna (ZGN) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 8.5%, was declared on May 21, 2025.
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 May?
55 U.S. dividend stocks usually do, including Apple (AAPL), PepsiCo (PEP), Chubb (CB), Medtronic (MDT), Lowe's (LOW) and Marriott International (MAR). The table above lists all of them with their five-year record.
When does Apple raise its dividend?
Usually in May. Apple (AAPL) has declared its first higher dividend of the year in May in 3 of the last 5 years; its most recent raise, 3.8%, was declared on Apr 30, 2026.
When does PepsiCo raise its dividend?
Usually in May. PepsiCo (PEP) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.0%, was declared on May 6, 2026.
When does Chubb raise its dividend?
Usually in May. Chubb (CB) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 5.2%, was declared on May 21, 2026.
When does Medtronic raise its dividend?
Usually in May. Medtronic (MDT) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 1.4%, was declared on Jun 3, 2026.
When does Lowe's raise its dividend?
Usually in May. Lowe's (LOW) has declared its first higher dividend of the year in May in 4 of the last 5 years; its most recent raise, 4.2%, was declared on May 29, 2026.
How much do companies raise their dividends in May?
The typical first raise of the year among May raisers is about 6.3%. 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.