Recent Dividend Increases – Dividend Power

The Recent Dividend Increases table is updated each week on Saturday. Investors can search for dividend increases of stocks in their portfolio.

The dividend increases and reinstatement tracker was created at the request of a reader. A link to this post is included in the weekly stock market news review article and the free weekly newsletter.

In addition, monthly dividend statistics for most stocks in U.S. exchanges are updated at the end of each month. These statistics are a relatively strong indicator of the state of the U.S. and global economies. During recessions, the number of dividend increases declines while the number of decreases simultaneously rises. However, when the economy is performing well, the reverse is true.

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Recent Dividend Increases and Reinstatements

The table of recent dividend increases and reinstatement is updated each week.

Company	Ticker	Date	Forward Yield	New Quarterly Dividend Per Share	Previous Quarterly Dividend Per Share	Years of Dividend Growth
Assurant	AIZ	11/14/25	1.40%	$0.88	$0.80	20
Disney	DIS	11/14/25	1.40%	$0.75	$0.50	1
First National Virginia	FXNC	11/14/25	2.60%	$0.17	$0.16	9
National Bancshares	NKSH	11/14/25	4.90%	$0.78	$0.73	1
Spire	SR	11/14/25	3.80%	$0.83	$0.79	21
Mount Logan Capital	MLCI	11/14/25	–	$0.03	$0.00	0
Amkor Technology	AMKR	11/13/25	1.00%	$0.08	$0.08	5
Automatic Data	ADP	11/13/25	2.70%	$1.70	$1.54	26
Qnity Electronics	Q	11/13/25	–	$0.06	$0.00	0
Aflac	AFL	11/12/25	2.10%	$0.61	$0.58	42
Four Corners Property Trust	FCPT	11/11/25	5.80%	$0.37	$0.36	8
Global Ship Lease Cl A	GSL	11/11/25	7.30%	$0.63	$0.53	3
F&G Annuities Life	FG	11/10/25	2.80%	$0.25	$0.22	1
Fidelity National Financial	FNF	11/10/25	3.60%	$0.52	$0.50	13
Haverty Furniture	HVT	11/10/25	5.80%	$0.33	$0.32	12
Abacus Global Management	ABL	11/10/25	–	$0.20	$0.00	0
Becton Dickinson	DBX	11/7/25	2.40%	$1.05	$1.04	52
CH Robinson Worldwide	CHRW	11/7/25	1.70%	$0.63	$0.62	27
ConocoPhillips	COP	11/7/25	3.90%	$0.84	$0.78	3
DuPont de Nemours	DD	11/7/25	2.00%	$0.20	$0.17	3
Evergy	EVRG	11/7/25	3.50%	$0.70	$0.67	12
Nelnet A	NNI	11/7/25	1.00%	$0.33	$0.30	10
Snap-On	SNA	11/7/25	2.50%	$2.44	$2.14	15
Atmos Energy	ATO	11/6/25	2.00%	$1.00	$0.87	40
Cencora	COR	11/6/25	0.70%	$0.60	$0.55	20
Cinemark Holdings	CNK	11/6/25	1.30%	$0.09	$0.08	1
Emerson Electric	EMR	11/6/25	1.70%	$0.56	$0.53	67
Iron Mountain	IRM	11/6/25	3.40%	$0.86	$0.79	2
Rioper Technologies	ROP	11/6/25	0.70%	$0.91	$0.83	31
Service Corp International	SCI	11/6/25	1.70%	$0.34	$0.32	14
Brightatar Lottery	BRSL	11/5/25	5.30%	$0.22	$0.20	1
California Resources	CRC	11/5/25	3.30%	$0.41	$0.39	3
Capital One Financial	COF	11/5/25	1.40%	$0.80	$0.60	1
CDW	CDW	11/5/25	1.70%	$0.63	$0.63	11
Clearway Energy Cl A	CWEN.A	11/5/25	5.30%	$0.45	$0.45	5
Innospec	IOSP	11/5/25	2.30%	$0.87	$0.84	11
Lucky Strike Enterprises	LUCK	11/5/25	2.70%	$0.06	$0.06	1
Main Street Capital	MAIN	11/5/25	5.50%	$0.26	$0.26	17
Utah Medical Products	UTMD	11/5/25	2.10%	$0.31	$0.31	20
Western Alliance Bancorp	WAL	11/5/25	1.90%	$0.42	$0.38	5
Willis Lease Finance	WLFC	11/5/25	0.80%	$0.40	$0.25	0
Simon Property Group	SPG	11/4/25	4.70%	$2.20	$2.15	3
AbbVie	ABBV	11/3/25	3.30%	$1.73	$1.64	12
BOK Financial	BOKF	11/3/25	2.40%	$0.63	$0.57	19
Commerce Bancshares	CBSH	11/3/25	2.10%	$0.28	$0.26	4
Entergy	ETR	11/3/25	2.60%	$0.64	$0.60	10
ExxonMobil	XOM	11/3/25	3.60%	$1.03	$0.99	26
Leidos Holdings	LDOS	11/3/25	0.90%	$0.43	$0.40	6
North Europe Oil Royalty Trust	NRT	11/3/25	31.50%	$0.31	$0.26	1
OneMain Holdings	OMF	11/3/25	6.80%	$1.05	$1.04	5
Artesian Resources Cl A	ARTNA	10/31/25	3.80%	$0.31	$0.31	3
Atlantic Union Bancshares	AUB	10/31/25	4.20%	$0.37	$0.34	14
CRA International	CRAI	10/31/25	1.00%	$0.57	$0.49	8
Ingram Micro	INGM	10/31/25	1.30%	$0.08	$0.08	0
Kimco Realty	KIM	10/31/25	5.00%	$0.26	$0.25	3
NewMarket	NEU	10/31/25	1.40%	$3.00	$2.75	6
Rockwell Automation	ROK	10/31/25	1.40%	$1.38	$1.31	15
Timberland Bancorp	TSBK	10/31/25	3.20%	$0.28	$0.26	11
Vistra	VST	10/31/25	0.50%	$0.23	$0.23	5
Voya Financial	VOYA	10/31/25	2.40%	$0.47	$0.45	6
Western Digital	WDC	10/31/25	0.30%	$0.13	$0.10	0
Beacon Financial	BBT	10/30/25	3.00%	$0.32	$0.18	0
Central Pacific Financial	CPF	10/30/25	3.90%	$0.28	$0.27	0
Cognex	CGNX	10/30/25	0.80%	$0.09	$0.08	9
CVR Partners	UAN	10/30/25	12.70%	$4.02	$3.89	0
Kite Realty Group Trust	KRG	10/30/25	4.90%	$0.29	$0.27	5
Marathon Petroleum	MPC	10/30/25	2.00%	$1.00	$0.91	3
Murphy USA	MUSA	10/30/25	0.60%	$0.63	$0.53	4
National Bank Holdings	NBHC	10/30/25	3.30%	$0.31	$0.30	9
Pitney Bowes	PBI	10/30/25	3.50%	$0.09	$0.08	0
Princeton Bancorp	BPRN	10/30/25	3.90%	$0.35	$0.30	0
S&T Bancorp	STBA	10/30/25	3.70%	$0.36	$0.34	12
St. Joe	JOE	10/30/25	1.00%	$0.16	$0.14	4
Stepan	SCL	10/30/25	3.60%	$0.40	$0.39	56
Tennant	TNC	10/30/25	1.50%	$0.31	$0.30	52
Artisan Partners Asset Management	APAM	10/29/25	7.10%	$0.88	$0.73	1
Associated Banc	ASB	10/29/25	3.70%	$0.24	$0.23	31
Cheniere Energy	LNG	10/29/25	1.00%	$0.56	$5.00	3
Delek Logistics Partners	DKL	10/29/25	9.90%	$1.12	$1.12	12
DR Horton	DHI	10/29/25	1.20%	$0.45	$0.40	10
Energy Transfer	ET	10/29/25	7.80%	$0.33	$0.33	3
Global Partners	GLP	10/29/25	6.60%	$0.76	$0.75	4
MPLX	MPLX	10/29/25	8.60%	$1.08	$0.96	11
NexPoint Residential Trust	NXRT	10/29/25	7.00%	$0.53	$0.51	9
Red Rock Resorts Cl A	RRR	10/29/25	2.00%	$0.26	$0.25	0
Regency Centers	REG	10/29/25	4.00%	$0.76	$0.71	1
Renasant	RNST	10/29/25	2.60%	$0.20	$0.22	0
Rollins	ROL	10/29/25	1.40%	$0.18	$0.17	4
Shenandoah Telecom	SHEN	10/29/25	0.80%	$0.11	$0.10	3
UMB Financial	UMBF	10/29/25	1.50%	$0.43	$0.40	22
Unifirst	UNF	10/29/25	0.90%	$0.37	$0.35	7
Visa Cl A	V	10/29/25	0.80%	$0.67	$0.59	16
Zurn Elkay Water Solutions	ZWS	10/29/25	0.90%	$0.11	$0.09	4
PayPal Holdings	PYPL	10/29/25	–	$0.14	$0.00	0
Brixmor Property Group	BRX	10/28/25	4.30%	$0.31	$0.29
Enterprise Financial Services	EFSC	10/28/25	2.30%	$0.32	$0.31
Hartford Insurance Group	HIG	10/28/25	1.70%	$0.60	$0.52
Hess Midstream	HESM	10/28/25	8.70%	$0.75	$0.74
National Research	NRC	10/28/25	3.60%	$0.16	$0.12
Principal Financial Group	PFG	10/28/25	3.80%	$0.79	$0.78
Gorman-Rupp	GRC	10/27/25	1.70%	$0.19	$0.19
Hubbell	HUBB	10/27/25	1.30%	$1.42	$1.32
Kontoor Brands	KTB	10/27/25	2.50%	$0.53	$0.52
Middlesex Water	MSEX	10/27/25	2.20%	$0.36	$0.34
Tompkins Financial	TMP	10/27/25	3.90%	$0.65	$0.62
1st Source	SRCE	10/24/25	2.50%	$0.40	$0.38	39
Alliance Bernstein	AB	10/24/25	8.60%	$0.86	$0.76	0
Blackstone	BX	10/24/25	2.70%	$1.29	$1.03	0
Bread Financial	BFH	10/24/25	1.30%	$0.23	$0.21	0
Business First Bancshares	BFST	10/24/25	2.20%	$0.15	$0.14	7
Cass Info Systems	CASS	10/24/25	3.20%	$0.32	$0.31	25
Comofrt Systems USA	FIX	10/24/25	0.20%	$0.60	$0.50	13
Community Healthcare Trust	CHCT	10/24/25	12.90%	$0.48	$0.47	0
Fidelity D&D Bancorp	FDBC	10/24/25	3.60%	$0.43	$0.40	11
First Citizens Bancshares	FCNCA	10/24/25	0.40%	$2.10	$1.95	9
Kodiak Gas Services	KGS	10/24/25	4.80%	$0.49	$0.45	0
Mueller Water Products	MWA	10/24/25	1.00%	$0.07	$0.07	11
Seacoast Banking of FL	SBCF	10/24/25	2.30%	$0.19	$0.18	4
Standex International	SXI	10/24/25	0.50%	$0.34	$0.32	15
ACNB	ACNB	10/23/25	3.00%	$0.38	$0.34	8
American Electric Power	AEP	10/23/25	3.20%	$0.95	$0.93	12
Amphenol Cl A	APH	10/23/25	0.50%	$0.25	$0.17	14
Armstrong World Industries	AWI	10/23/25	0.60%	$0.34	$0.31	0
Brown & Brown	BRO	10/23/25	0.70%	$0.17	$0.15	23
Churchill Downs	CHDN	10/23/25	0.40%	$0.44	$0.41	15
Home Bancshares	HOMB	10/23/25	2.90%	$0.21	$0.20	15
McDonald’s	MCD	10/23/25	2.30%	$1.86	$1.77	49
Mid Penn Bancorp	MPB	10/23/25	2.80%	$0.22	$0.20	0
Old Second Bancorp	OSBC	10/23/25	1.30%	$0.07	$0.06	0
Pinnacle West Capital	PNW	10/23/25	3.90%	$0.91	$0.90	14
Prosperity Bancshares	PB	10/23/25	3.70%	$0.60	$0.58	22
Selective Insurance	SIGI	10/23/25	2.00%	$0.43	$0.38	12
Getty Realty	GTY	10/22/25	6.80%	$0.49	$0.47	13
Huntington Ingalls Industries	HII	10/22/25	1.90%	$1.38	$1.35	31
Home Bancorp	HBCP	10/21/25	2.10%	$0.31	$0.29	11
SB Financial Group	SBFG	10/21/25	3.20%	$0.16	$0.15	12
Sunoco	SUN	10/21/25	6.80%	$0.92	$0.91	3
GCM Grosvenor Cl A	GCMG	10/20/25	3.90%	$0.12	$0.11	0
EQT	EQT	10/17/25	1.20%	$0.17	$0.16	3
IDACORP	IDA	10/17/25	2.50%	$0.88	$0.86	14
Banner	BANR	10/16/25	3.10%	$0.50	$0.48	0
Citizens Financial Group	CFG	10/16/25	3.50%	$0.46	$0.42	0
Lincoln Electric	LECO	10/16/25	1.30%	$0.79	$0.75	29
Matador Resources	MTDR	10/16/25	2.90%	$0.38	$0.31	4
Minerals Technologies	TMX	10/16/25	0.70%	$0.12	$0.11	9
Penske Automotive	PAG	10/16/25	2.90%	$1.38	$1.32	14
Agree Realty	ADC	10/15/25	4.10%	$0.26	$0.26	7
Liberty Energy	LBRT	10/15/25	2.60%	$0.09	$0.08	3
AO Smith	AOS	10/14/25	2.00%	$0.36	$0.34	32
Lockheed Martin	LMT	10/10/25	2.60%	$3.45	$3.30	24
Northwest Natural	NWN	10/10/25	4.40%	$0.49	$0.49	70
Avient	AVNT	10/9/25	3.40%	$0.28	$0.27	13
Thor Industries	THO	10/9/25	1.90%	$0.52	$0.50	18
MSC Industries	MSM	10/8/25	3.80%	$0.87	$0.85	4
Riley Exploraton	REPX	10/8/25	5.40%	$0.40	$0.38	5
RPM International	RPM	10/3/25	1.70%	$0.54	$0.51	51
American Financal Group	AFG	10/2/25	2.20%	$0.88	$0.80	20
Bank OZK	OZK	10/2/25	3.30%	$0.45	$0.44	29
Starbucks	SBUX	10/2/25	2.80%	$0.62	$0.61	15
Accenture	CAN	9/26/25	2.70%	$1.63	$1.48	14
Concentrix	CNXC	9/26/25	2.70%	$0.36	$0.33	4
City Holding	CHCO	9/25/25	2.50%	$0.87	$0.79	15
First United	FUNC	9/25/25	2.30%	$0.26	$0.22	8
OGE Energy	OGE	9/24/25	3.70%	$0.43	$0.42	20
Millrose Properties Cl A	MRP	9/23/25	6.20%	$0.73	$0.69	0
Philip Morris International	PM	9/22/25	3.60%	$1.47	$1.35	17
Texas Instruments	TXN	9/19/25	3.00%	$1.42	$1.36	21
T-Mobile US	TMUS	9/19/25	1.50%	$1.02	$0.88	2
W. P Carey Inc.	WPC	9/19/25	5.30%	$0.91	$0.90	2
Great Southern Bancorp	GSBC	9/18/25	2.50%	$0.43	$0.40	0
InterDigital	IDCC	9/18/25	0.70%	$0.70	$0.60	4
JPMorgan Chase	JPM	9/17/25	1.80%	$1.50	$1.40	16
Adamas Trust	ADAM	9/16/25	11.00%	$0.23	$0.20	0
Equity Bancshares	EQBK	9/16/25	1.50%	$0.18	$0.15	4
Microsoft	MSFT	9/16/25	0.70%	$0.91	$0.83	24
Fifth Third Bancorp	FITB	9/15/25	3.50%	$0.40	$0.37	15
Argan	AGX	9/11/25	0.60%	$0.50	$0.38	5
First American Financial	FAF	9/11/25	3.20%	$0.55	$0.54	15
New Jersey Resources	NJR	9/11/25	4.00%	$0.48	$0.45	30
Royal Caribbean Group	RCL	9/11/25	0.70%	$1.00	$0.75	0
Venture Global	VG	9/11/25	0.50%	$0.02	$0.02	0
Realty Income	O	9/10/25	5.40%	$0.27	$0.27	32
AptarGroup	ATR	9/9/25	1.30%	$0.48	$0.45	32
Verizon Communications	VZ	9/8/25	6.40%	$0.69	$0.68	21
VICI Properties	VICI	9/5/25	5.40%	$0.45	$0.43	8
Brady	BRC	9/4/25	1.20%	$0.25	$0.24	40
Citizen Financial Services	CZFS	9/4/25	3.30%	$0.50	$0.50	4
TKO Group Holdings	TKO	9/4/25	1.60%	$0.76	$0.38	0
Phillips Edison	PECO	9/3/25	3.70%	$0.11	$0.10	4
Stewart Information Services	STC	9/3/25	2.90%	$0.53	$0.50	5
BancFirst	BANF	9/2/25	1.40%	$0.49	$0.46	32
Capital City Bank Group	CCBG	8/29/25	2.20%	$0.26	$0.24	12
Lam Research	LRCX	8/29/25	0.90%	$0.26	$0.23	11
Nordson	NDSN	8/29/25	1.50%	$0.82	$0.78	62
Ingredion	INGR	8/28/25	2.50%	$0.82	$0.80	15
Greif A	GEF	8/27/25	3.40%	$0.56	$0.54	5
TriCo Bancshares	TCBK	8/26/25	2.90%	$0.36	$0.33	13
EastGroup Properties	EGP	8/25/25	3.70%	$1.55	$1.40	14
Intuit	INTU	8/25/25	0.70%	$1.20	$1.04	14
Popular Inc.	BPOP	8/25/25	2.30%	$0.75	$0.70	7
Ubiquiti	UI	8/25/25	0.60%	$0.80	$0.60	0
Altria Group	MO	8/22/25	6.30%	$1.06	$1.02	55
Avnet	AVT	8/22/25	2.40%	$0.35	$0.33	12
Bank7	BSVN	8/22/25	2.20%	$0.27	$0.24	6
BayCom	BCML	8/22/25	2.00%	$0.25	$0.20	3
Dillard’s	DDS	8/22/25	0.20%	$0.30	$0.25	14
United Bancorp	UBCP	8/22/25	5.10%	$0.19	$0.19	12
Unity Bancorp	UNTY	8/22/25	1.10%	$0.15	$0.14	12
First Capital	FCAP	8/21/25	3.20%	$0.31	$0.29	3
Stock Yards Bancorp	SYBT	8/21/25	1.70%	$0.32	$0.31	16
Chemung Financial	CHMG	8/20/25	2.50%	$0.34	$0.32	0
M&T Bank	MTB	8/20/25	2.80%	$1.50	$1.35	9
Trustco Bank	TRST	8/20/25	4.00%	$0.38	$0.36	0
SS&C Technologies	SSNC	8/19/25	1.10%	$0.27	$0.25	9
MGE Energy	MGEE	8/18/25	2.20%	$0.48	$0.45	50
Cboe Global Markets	CBOE	8/15/25	1.20%	$0.72	$0.63	15
Martin Marietta	MLM	8/15/25	0.50%	$0.83	$0.79	10
Murphy USA	MUSA	8/15/25	0.50%	$0.53	$0.50	6
Tapestry	TPR	8/15/25	1.60%	$0.40	$0.35	4
United Community Banks	UCB	8/15/25	3.10%	$0.25	$0.24	11
Virtus Investment Partners	VRTS	8/15/25	5.00%	$2.40	$2.25	8
Winnebago Industries	WGO	8/15/25	3.90%	$0.35	$0.34	8
Jefferson Capital	JCAP	8/15/25	–	$0.24	$0.00	0
Atmus Filtration Technologies	ATMU	8/14/25	0.50%	$0.06	$0.05	0
Badger Meter	BMI	8/12/25	0.70%	$0.40	$0.34	33
Dover	DOV	8/12/25	1.20%	$0.52	$0.52	70
Strawberry Fields REIT	STRW	8/12/25	5.70%	$0.16	$0.14	3
Westlake	WLK	8/12/25	2.70%	$0.53	$0.53	21
J&J Snack Foods	JJSF	8/11/25	2.80%	$0.80	$0.78	21
Cannae Holdings	CNNE	8/8/25	2.60%	$0.15	$0.12	0
Carlisle Companies	CSL	8/8/25	1.10%	$1.10	$1.00	49
Cogent Communications	CCOI	8/8/25	13.20%	$1.02	$1.01	13
StepStone Group	STEP	8/8/25	1.60%	$0.28	$0.24	4
Warner Music Group	WMG	8/8/25	2.40%	$0.19	$0.18	5
ePlus	PLUS	8/8/25	–	$0.25	$0.00	0
EnerSys	ENS	8/7/25	1.10%	$0.26	$0.24	3
Federal Realty Investment Trust	FRT	8/7/25	4.90%	$1.13	$1.10	58
Ingram Micro	INGM	8/7/25	1.60%	$0.08	$0.08	0
National Health Investors	NHI	8/7/25	5.00%	$0.92	$0.90	0
Nelnet	NNI	8/7/25	1.00%	$0.30	$0.28	11
Safety Insurance Group	SAFT	8/7/25	5.10%	$0.92	$0.90	0
SandRidge Energy	SD	8/7/25	4.10%	$0.12	$0.11	2
Terreno Realty	TRNO	8/7/25	3.80%	$0.52	$0.49	15
TPG	TPG	8/7/25	3.20%	$0.59	$0.41	3
Rallian	RAL	8/7/25	–	$0.05	$0.00	0
Broadridge Financial Solutions	BR	8/6/25	1.30%	$0.98	$0.88	18
Fox Corp Cl B	FOX	8/6/25	1.00%	$0.28	$0.27	6
Marcus Corp	MCS	8/6/25	2.10%	$0.08	$0.07	3
Midland States Bancorp	MSBI	8/6/25	7.20%	$0.32	$0.31	8
Skyworks Solutions	SWKS	8/6/25	4.20%	$0.71	$0.70	11
Viper Energy	VNOM	8/6/25	5.50%	$0.33	$0.30	2
CBL & Associates Properties	CBL	8/5/25	6.50%	$0.45	$0.40	3
Simon Property Group	SPG	8/5/25	5.10%	$2.15	$2.10	4
Sitio Royalities	STR	8/5/25	7.60%	$0.36	$0.33	0
Chemed	CHE	8/4/25	0.60%	$0.60	$0.50	17
Crawford & Co Cl B	CRD.B	8/4/25	3.00%	$0.08	$0.07	0
Illinois Tool Works	ITW	8/4/25	2.50%	$1.61	$1.50	62
Piper Sandler	PIPR	8/4/25	0.80%	$0.70	$0.65	2
Zions Bancorp	ZION	8/4/25	3.30%	$0.45	$0.43	13
American States Water	AWR	8/1/25	2.50%	$0.50	$0.47	71
Bosie Cascade	BCC	8/1/25	1.00%	$0.22	$0.21	8
Excelerate Energy	EE	8/1/25	0.80%	$0.08	$0.06	0
Perdoceo Education	PRDO	8/1/25	1.70%	$0.15	$0.13	0
Reinsurance Group of America	RGA	8/1/25	2.00%	$0.93	$0.89	16
ResMed	RMD	8/1/25	0.80%	$0.60	$0.53	13
Artisan Partners Asset Mangement	APAM	7/31/25	6.70%	$0.73	$0.68	0
Cactus Cl A	WHD	7/31/25	1.30%	$0.14	$0.13	5
Clorox	CLX	7/31/25	3.90%	$1.24	$1.22	48
CVR Partners	UAN	7/31/25	7.60%	$3.89	$2.26	0
Hawkins	HWKN	7/31/25	0.40%	$0.19	$0.18	21
Kenvue	KVUE	7/31/25	3.90%	$0.21	$0.21	0
Littelfuse	LFUS	7/31/25	1.10%	$0.75	$0.70	15
McKesson	MCK	7/31/25	0.50%	$0.82	$0.71	18
Pitney Bowes	PBI	7/31/25	2.50%	$0.08	$0.07	0
Quaker Houghtin	KWR	7/31/25	1.70%	$0.51	$0.49	18
Rush Enerprises	RUSHA	7/31/25	1.30%	$0.19	$0.18	7
Steris	STE	7/31/25	1.00%	$0.63	$0.57	20
Vistra	VST	7/31/25	0.40%	$0.23	$0.23	6
Wingstop	WING	7/31/25	0.30%	$0.30	$0.27	8
Natural Gas Services	NGS	7/31/25	–	$0.10	$0.00	0
Cintas	CTAS	7/30/25	0.70%	$0.45	$0.39	41
Corteva	CTVA	7/30/25	1.00%	$0.18	$0.17	6
Delek Logistics Partners	DKL	7/30/25	9.60%	$1.12	$1.11	12
Eagle Bancorp Montana	EBMT	7/30/25	3.50%	$0.15	$0.14	14
Howmet Aerospace	HWM	7/30/25	0.20%	$0.50	$0.47	5
Mondelez International	NDLZ	7/30/25	2.90%	$0.50	$0.47	12
Wells Fargo	WFC	7/30/25	2.20%	$0.45	$0.40	0
Capital Bancorp	CBNK	7/29/25	1.30%	$0.12	$0.10	0
Enterprise Financial Services	EFSC	7/29/25	2.10%	$0.31	$0.30	11
Hess Midstream	HESM	7/29/25	7.10%	$0.74	$0.71	8
NBT Bancorp	NBTB	7/29/25	3.10%	$0.37	$0.34	13
Principal Financial Group	PFG	7/29/25	3.80%	$0.78	$0.76	17
Welltower	WELL	7/29/25	1.60%	$0.74	$0.67	0
Global Partners	GLP	7/28/25	5.80%	$0.75	$0.75	0
Archrock	AROC	7/25/25	3.60%	$0.21	$0.19	0
Arrow Finanicial	AROW	7/25/25	4.30%	$0.29	$0.28	32
Blackstone	BX	7/25/25	2.30%	$1.03	$0.93	0
Comfort Systems USA	FIX	7/25/25	0.30%	$0.50	$0.45	0
Community Healthcare Trust	CHCT	7/25/25	11.20%	$0.47	$0.47	0
Encompass Health	EHC	7/25/25	0.70%	$0.33	$0.33	0
Energy Transfer	ET	7/25/25	7.40%	$0.33	$0.33	0
First Financial Bancorp	FFBC	7/25/25	3.90%	$0.25	$0.24	0
First Mid Bancshares	FMBH	7/25/25	2.60%	$0.25	$0.24	0
FirstCash Holdings	FCFS	7/25/25	1.40%	$0.42	$0.38	0
Iridium Commuications	IRDM	7/25/25	2.20%	$0.15	$0.14	0
Magyar Bancorp	MGYR	7/25/25	1.30%	$0.08	$0.06	0
MGIC Investment	MTG	7/25/25	2.00%	$0.15	$0.13	0
Red River Bancshares	RRBI	7/25/25	0.80%	$0.15	$0.12	0
Republic Services	RSG	7/25/25	0.90%	$0.63	$0.58	0
Sonic Automotive	SAH	7/25/25	1.90%	$0.38	$0.35	0
South State	SSB	7/25/25	2.20%	$0.60	$0.54	0
Stanley Black & Decker	SWK	7/25/25	4.40%	$0.83	$0.82	58
Sunoco	SUN	7/25/25	6.70%	$0.91	$0.90	0
West Pharmaceutical Services	WST	7/25/25	0.30%	$0.22	$0.21	32
Visteon	VC	7/25/25	–	$0.28	$0.00	0
Bank of America	BAC	7/24/25	2.30%	$0.28	$0.26	0
First Community	FCCO	7/24/25	2.40%	$0.16	$0.15	0
Home Federal Bancorp	HFBL	7/24/25	3.90%	$0.14	$0.13	0
NetSTREIT	NTST	7/24/25	4.60%	$0.22	$0.21	0
Penske Automotive	PAG	7/24/25	2.90%	$1.32	$1.26	0
Southern Missouri Bancorp	SMBC	7/24/25	1.60%	$0.25	$0.23	0
NB Bancorp	NBBK	7/24/25	–	$0.07	$0.00	0
CB Financial Services	CBFV	7/23/25	3.20%	$0.26	$0.25	0
Community Trust Bancorp	CTBI	7/23/25	3.30%	$0.53	$0.47	45
Mercantile Bank	MBWM	7/23/25	3.10%	$0.38	$0.37	0
Northern Trust	NTRS	7/23/25	2.40%	$0.80	$0.75	0
Orrstown Financial	ORRF	7/23/25	2.90%	$0.27	$0.26	0
Kingstone	KINS	7/23/25	–	$0.05	$0.00	0
Home Bancorp	HBCP	7/22/25	1.90%	$0.29	$0.27	0
Morgan Stanely	MS	7/18/25	2.60%	$1.00	$0.93	12
PPG Industries	PPG	7/18/25	2.40%	$0.71	$0.68	54
South Plains Financial	SPFI	7/18/25	1.50%	$0.16	$0.15	6
FVC Bankcorp	FVCB	7/18/25	–	$0.06	$0.00	0
Metropolitan Bank	MCB	7/18/25	–	$0.15	$0.00	0
Community Financial System	CBU	7/17/25	3.10%	$0.47	$0.46	33
Goldman Sachs	GS	7/17/25	2.30%	$4.00	$3.00	14
Greene County Bancorp	GCBC	7/17/25	1.60%	$0.10	$0.09	12
JM Smucker	SJM	7/17/25	4.00%	$1.10	$1.08	28
MetroCity Bankshares	MCBS	7/17/25	3.10%	$0.25	$0.23	5
Regions Financial	RF	7/17/25	4.10%	$0.27	$0.25	13
State Street	STT	7/17/25	2.80%	$0.84	$0.76	15
Union Pacific	UNP	7/17/25	2.40%	$1.38	$1.34	19
Bank of NY Mellon	BK	7/16/25	2.20%	$0.53	$0.47	15
Cummins	CMI	7/16/25	2.10%	$2.00	$1.82	20
Duke Energy	DUK	7/16/25	3.60%	$1.07	$1.05	21
NNN Reit	NNN	7/16/25	5.60%	$0.60	$0.58	36
Citigroup	C	7/15/25	2.40%	$0.60	$0.56	0
Industrial Logistics Property Trust	ILPT	7/12/25	3.70%	$0.05	$0.01	0
Levi Strauss	LEVI	7/12/25	2.40%	$0.14	$0.13	5
Ryder System	R	7/12/25	1.80%	$0.91	$0.81	21
Unum Group	UNM	7/12/25	2.32%	$0.46	$0.42	17
Marsh & McLennan	MMC	7/10/25	1.70%	$0.90	$0.82	16
Enterprise Products Partners	EPD	7/9/25	6.70%	$0.55	$0.54	28
PNC Financial Services	PNC	087/08/25	3.50%	$1.70	$1.60	15
Bank OZK	OZK	7/3/25	3.40%	$0.44	$0.43	29
CF Bancshares	CFBK	7/3/25	1.30%	$0.08	$0.07	5
John Wiley & Sons A	WLY	6/30/25	3.20%	$0.36	$0.35	26
Lindsay	LNN	6/30/25	1.00%	$0.37	$0.36	23
AZZ	AZZ	6/27/25	0.70%	$0.20	$0.17	0
First Bancorp	FNLC	6/27/25	5.70%	$0.37	$0.36	13
Kroger	KR	6/27/25	1.80%	$0.35	$0.32	19
Matson	MATX	6/27/25	1.20%	$0.36	$0.34	12
General Mills	GIS	6/26/25	4.80%	$0.61	$0.60	6
ATN International	ATNI	6/23/25	6.90%	$0.28	$0.24	0
Darden Restaurants	DRI	6/23/25	2.60%	$1.50	$1.40	5
InvenTrust Properties	IVT	6/23/25	3.40%	$0.24	$0.24	0
Blue Owl Technology Finance	OTF	6/23/25	–	$0.35	$0.00	0
Acme United	ACU	6/20/25	1.60%	$0.16	$0.15	5
Delta Air Lines	DAL	6/20/25	1.30%	$0.19	$0.15	0
Investar Holdoings	ISTR	6/20/25	2.30%	$0.11	$0.11	11
AG Mortgage Investment Trust	MITT	6/18/25	10.60%	$0.21	$0.20	0
Pegasystems	PEGA	6/18/25	0.10%	$0.03	$0.02	0
First Bancorp NC	FBNC	6/16/25	2.30%	$0.23	$0.22	0
National Fuel Gas	NFG	6/13/25	2.50%	$0.54	$0.52	55
Target	TGT	6/13/25	4.80%	$1.14	$1.12	58
W. P Carey	WPC	6/13/25	5.60%	$0.90	$0.89	0
Caterpillar	CAT	6/12/25	1.70%	$1.51	$1.41	31
Flexsteel Industries	FLXS	6/12/25	2.20%	$0.20	$0.17	0
Heico	HEI	6/12/25	0.10%	$0.12	$0.11	21
Universal Health Realty	UHT	6/12/25	7.20%	$0.74	$0.74	40
WR Berkely	WRB	6/12/25	0.50%	$0.09	$0.08	23
Realty Income	O	6/11/25	5.60%	$0.27	$0.27	32
Casey’s General Stores	CASY	6/10/25	0.40%	$0.57	$0.50	26
FedEx	FDX	6/10/25	2.40%	$1.45	$1.38	5
Citizen Financial Services	CZFS	6/10/25	3.20%	$0.50	$0.49	0
ReposiTrak	TRAK	6/6/25	0.30%	$0.02	$0.02	0
World Kinect	WKC	6/6/25	2.90%	$0.20	$0.17	6
Oil-Dri of America	ODC	6/6/25	1.40%	$0.18	$0.16	22
Sun Communities	SUI	6/6/25	3.30%	$1.04	$0.94	9
UnitedHealth Group	UNH	6/6/25	3.00%	$2.21	$2.10	16
Essential Properties Realty Trust	EPRT	6/3/25	3.60%	$0.30	$0.30	6
Donaldson	DCI	6/2/25	1.70%	$0.30	$0.27	39
EOG Resources	EOG	6/2/25	3.70%	$1.02	$0.98	8
Lowe’s	LOW	6/2/25	2.10%	$1.20	$1.15	63
Hamilton Lane Cl A	HLNE	5/30/25	1.30%	$0.54	$0.49	8
Flanigan’s Engterprises	BDL	5/28/25	1.80%	$0.55	$0.50	0
Alerus Financial	ALRS	5/23/25	3.80%	$0.21	$0.20	26
Flowers Foods	FLO	5/23/25	6.00%	$0.25	$0.24	23
Lennox International	LII	5/23/25	0.90%	$1.30	$1.15	16
Ralph Lauren Cl A	RL	5/23/25	1.20%	$0.91	$0.83	5
BayCom	BCML	5/22/25	1.90%	$0.20	$0.15	0
Equitable Holdings	EQH	5/22/25	2.10%	$0.27	$0.24	7
Universal Corp	UVV	5/22/25	5.50%	$0.82	$0.81	54
Nicolet Bankshares	NIC	5/21/25	0.90%	$0.32	$0.28	0
Northop Grumman	NOC	5/21/25	2.00%	$2.31	$2.06	22
First Merchants	FRME	5/20/25	3.60%	$0.36	$0.35	13
Gaming & Leisure Properties	GLPI	5/20/25	6.40%	$0.78	$0.76	11
Advanced Rainage Systems	WMS	5/16/25	0.60%	$0.18	$0.16	11
NACCO Industries Cl A	NC	5/16/25	2.50%	$0.25	$0.23	7
Curtiss-Wright	CW	5/15/25	0.20%	$0.24	$0.21	9
Independence Realty Trust	IRT	5/15/25	3.60%	$0.17	$0.16	0
Penske Automotive Group	PAG	5/15/25	2.70%	$1.26	$1.22	5
Towne Bank	TOWN	5/15/25	2.80%	$0.27	$0.25	14
Hyster-Yale	HY	5/14/25	3.40%	$0.36	$0.35	13
Landstar System	LSTR	5/14/25	1.00%	$0.40	$0.36	12
RLI Corp	RLI	5/14/25	0.90%	$0.16	$0.15	50
Global Ship Lease Cl A	GSL	5/13/25	7.40%	$0.53	$0.45	0
HNI Corp	HNI	5/13/25	2.70%	$0.34	$0.33	0
Hamilton Beach Brands	HBB	5/12/25	2.45%	$0.12	$0.12	8
Marriott International	MAR	5/12/25	0.90%	$0.67	$0.63	0
Cogent Communications	CCOI	5/9/25	8.00%	$1.01	$1.01	13
ESAB	ESAB	5/9/25	0.30%	$0.10	$0.08	0
IDEX	IEX	5/9/25	1.50%	$0.71	$0.69	16
Innospec	IOSP	5/9/25	1.70%	$0.84	$0.79	11
Kimbell Royalty Partners	KRP	5/9/25	12.90%	$0.47	$0.40	0
KLA	KLAC	5/9/25	1.00%	$1.90	$1.70	16
Mach Natural Resources	MNR	5/9/25	19.90%	$0.79	$0.50	0
National Healthcare	NHC	5/9/25	2.40%	$0.64	$0.61	22
P10	PX	5/9/25	1.20%	$0.04	$0.04	0
Victory Capital Cl A	VCTR	5/9/25	2.90%	$0.49	$0.47	6
Brink’s	BCO	5/8/25	1.10%	$0.26	$0.24	5
Chesapeake Utilities	CPK	5/8/25	2.10%	$0.69	$0.64	22
Houlihan Lokey Cl A	HLI	5/8/25	1.30%	$0.60	$0.57	10
Materion	MTRN	5/8/25	0.70%	$0.14	$0.14	13
Pitney Bowes	PBI	5/8/25	3.00%	$0.07	$0.06	0
Simpson Manufacturing	SSD	5/8/25	0.70%	$0.29	$0.28	12
Tetra Tech	TTEK	5/8/25	0.70%	$0.07	$0.06	11
Ashland	ASH	5/7/25	3.30%	$0.42	$0.41	7
CuriosityStream	CURI	5/7/25	3.40%	$0.08	$0.03	0
Expeditors International of Washingont	EXPD	5/7/25	1.40%	$0.77	$0.73	30
Lifevantage	LFVN	5/7/25	1.60%	$0.05	$0.04	0
Main Street Capital	MAIN	5/7/25	5.70%	$0.26	$0.25	14
PepsiCo	PEP	5/7/25	4.10%	$1.42	$1.36	53
Weyco Group	WEYS	5/7/25	3.30%	$0.27	$0.26	0
Cabot Corp	CBT	5/6/25	2.50%	$0.45	$0.43	14
Cardinal Health	CAH	5/6/25	1.30%	$0.51	$0.51	12
NAPCO Security Techs	NSSC	5/6/25	2.00%	$0.14	$0.13	0
Watts Water Tech	WTS	5/6/25	0.80%	$0.52	$0.43	13
Apollo Global Management	APO	5/5/25	1.50%	$0.51	$0.46	0
CNO Financial Group	CNO	5/5/25	1.70%	$0.17	$0.16	13
MSA Safety	MSA	5/5/25	1.40%	$0.53	$0.51	54
Paychex	PAYX	5/5/25	2.60%	$1.08	$0.98	15
Timken	TKR	5/5/25	2.10%	$0.35	$0.34	12
Flowco Holdings	FLOC	5/5/25	–	$0.08	$0.00	0
American International Group	AIG	5/2/25	2.10%	$0.45	$0.40	0
Apple	APPL	5/2/25	0.50%	$0.26	$0.25	13
Blue Owl Capital	OWL	5/2/25	4.90%	$0.23	$0.18	0
Cullen/Frost Bankers	CFR	5/2/25	3.20%	$1.00	$0.95	31
FactSet Research Systems	FDS	5/2/25	1.00%	$1.10	$1.04	27
KKR	KKR	5/2/25	0.60%	$0.19	$0.18	6
Murphy USA	MUSA	5/2/25	0.40%	$0.50	$0.49	6
RTX	RTX	5/2/25	1.90%	$0.68	$0.63	32
Vistra	VST	5/2/25	0.60%	$0.23	$0.22	6
American Water Works	AWK	5/1/25	2.30%	$0.83	$0.77	17
Atkore	ATKR	5/1/25	2.00%	$0.33	$0.32	0
Clearway Energy Cl C	CWEN	5/1/25	5.90%	$0.44	$0.43	6
Enact Holdings	ACT	5/1/25	2.00%	$0.21	$0.19	0
Evercore Cl A	EVR	5/1/25	1.60%	$0.84	$0.80	19
Hawthorn Bancshares	HWBK	5/1/25	2.50%	$0.20	$0.19	14
Medallion Financial	MFIN	5/1/25	4.90%	$0.12	$0.11	0
National Bank Holdings	NBHC	5/1/25	3.30%	$0.30	$0.29	0
Pool	POOL	5/1/25	1.60%	$1.25	$1.20	15
Standard Motor Products	SMP	5/1/25	4.50%	$0.31	$0.29	0
WW Grainger	GWW	5/1/25	0.90%	$2.26	$2.05	54
Western Digital	WDC	5/1/25	–	$0.10	$0.00	0
First Commonwealth Financial	FCF	4/30/25	3.50%	$0.14	$0.13	9
First Financial Bancshares	FFIN	4/30/25	2.20%	$0.19	$0.18	15
General Motors	GM	4/30/25	1.10%	$0.15	$0.12	0
IBM	IBM	4/30/25	2.80%	$1.68	$1.67	30
CVR Partners	UAN	4/29/25	8.50%	$2.26	$1.75	0
Delek Logistics Partners	DKL	4/29/25	11.10%	$1.11	$1.11	12
Enterprise Financial Services	EFSC	4/29/25	2.20%	$0.30	$0.29	11
Hess Midstream	HESM	4/29/25	7.40%	$0.71	$0.70	8
Alphabet Cl C	GOOG	4/28/25	0.50%	$0.21	$0.20	0
Global Partners	GLP	4/28/25	5.80%	$0.75	$0.74	0
Principal Financial Group	PFG	4/28/25	4.10%	$0.76	$0.75	17
1st Source	SRCE	4/25/25	2.50%	$0.38	$0.36	38
Ameriprise Financial	AMP	4/25/25	1.40%	$1.60	$1.48	20
Avery Dennison	AVY	4/25/25	2.20%	$0.94	$0.88	15
Comfort Systems USA	FIX	4/25/25	0.40%	$0.45	$0.40	13
Community Healthcare Trust	CHCT	4/25/25	11.50%	$0.47	$0.47	10
Eastern Bankshares	EBC	4/25/25	3.30%	$0.13	$0.12	0
Federate Hermes	FHI	4/25/25	3.10%	$0.34	$0.31	0
Nasdaq	NDAQ	4/25/25	1.30%	$0.27	$0.24	13
Parker Hannifin	PH	4/25/25	1.10%	$1.80	$1.63	69
Sysco	SYY	4/25/25	2.90%	$0.54	$0.51	55
Virginia National Bankshares	VABK	4/25/25	3.80%	$0.36	$0.33	0
Westamerica Bancorp	WABC	4/25/25	3.80%	$0.46	$0.44	32
WSFS Financial	WSFS	4/25/25	1.20%	$0.17	$0.15	0
VeriSign	VRSN	4/25/25	–	$0.77	$0.00	0
ACNB	ACNB	4/24/25	3.30%	$0.34	$0.32	8
Energy Transfer	ET	4/24/25	7.50%	$0.33	$0.33	0
Home BancShares	HOMB	4/24/25	2.80%	$0.20	$0.20	15
John Marshall Bancorp	JMSB	4/24/25	2.00%	$0.30	$0.25	0
Kodiak Gas Services	KGS	4/24/25	4.70%	$0.45	$0.41	0
Lithia Motors	LAD	4/24/25	0.80%	$0.55	$0.53	15
Sunoco	SUN	4/24/25	6.10%	$0.90	$0.89	0
Univest Financial	UVSP	4/24/25	2.90%	$0.22	$0.21	0
Equifax	EFX	4/23/25	0.80%	$0.50	$0.39	0
MetLife	MET	4/23/25	2.90%	$0.57	$0.55	13
Otis Worldwide	OTIS	4/23/25	1.70%	$0.42	$0.39	5
Peoples Bancorp	PEGO	4/23/25	5.80%	$0.41	$0.40	10
Syncrhony Financial	SYF	4/23/25	2.00%	$0.30	$0.25	0
Timberland Bancorp	TSBK	4/23/25	3.30%	$0.26	$0.25	13
Veritex Holdings	VBTX	4/23/25	3.40%	$0.22	$0.20	0
Phillips 66	PSX	4/22/25	4.60%	$1.20	$1.15	13
The Southern Company	SO	4/22/25	3.20%	$0.74	$0.72	24
Value Line	VALU	4/22/25	3.00%	$0.33	$0.30	11
Western Midstream Partners	WES	4/22/25	9.20%	$0.91	$0.88	0
Portland Geneal Electric	POR	4/21/25	4.70%	$0.53	$0.50	19
Qualcom	QCOM	4/21/25	2.54%	$0.89	$0.85	23
Bar Harbor Bancshares	BHB	4/18/25	4.10%	$0.32	$0.30	22
Donegal Group Cl A	DGICA	4/18/25	4.00%	$0.18	$0.17	24
Star Group	SGU	4/18/25	5.40%	$0.19	$0.17	16
United Bancorp	UBCP	4/18/25	5.50%	$0.19	$0.18	11
Franklin Financial Services	FRAF	4/16/25	3.70%	$0.33	$0.32	0
H.B. Fuller	FUL	4/16/25	1.80%	$0.24	$0.22	56
Interactive Brokers	IBKR	4/16/25	0.60%	$0.32	$0.25	0
Johnson & Johnson	JNJ	4/16/25	3.40%	$1.30	$1.24	63
Ohio Valley Bancshares	OVBC	4/16/25	2.80%	$0.23	$0.22	0
CSW Industrials	CSWI	4/14/25	0.40%	$0.27	$0.24	6
Agree Realty	ADC	4/11/25	4.10%	$0.26	$0.25	5
Constellation Brands	STZ	4/11/25	2.20%	$1.02	$1.01	10
Fastenal	FAST	4/11/25	2.10%	$0.44	$0.43	26
Targa Resources	TRGP	4/11/25	1.80%	$1.00	$0.75	0
Tanger	SKT	4/10/25	3.80%	$0.29	$0.28	5
Procter & Gamble	PG	4/9/25	2.54%	$1.06	$1.01	69
Northpointe Bancshares	NPB	4/9/25	0.00%	$0.03	–	0
Medalist Divers REIT	MDRR	4/7/25	2.10%	$0.07	$0.07	0
Greenbrier	GBX	4/4/25	2.80%	$0.32	$0.30	0
Bank OZK	OZK	4/3/25	4.30%	$0.43	$0.42	29
UMH Properties	UMH	4/3/25	4.80%	$0.23	$0.22	5
Watsco	WSO	4/2/25	2.30%	$3.00	$2.70	12
TJX Cos	TJX	4/1/25	1.40%	$0.43	$0.38	5
BankUnited	BKU	3/31/25	3.60%	$0.31	$0.29	6
HarborOne Bancorp	HONE	3/28/25	3.00%	$0.09	$0.08	0
Oxford Industries	OXM	3/28/25	4.60%	$0.69	$0.67	5
Salesforce	CRM	3/28/25	0.60%	$0.42	$0.40	0
Smithfield Foods	SFD	3/27/25	–	$0.25	$0.00	0
SR Bankcorp	SRBK	3/24/25	–	$0.05	$0.00	0
Colgate-Palmolive	CL	3/21/25	2.20%	$0.52	$0.50	62
Equity Residential	EQR	3/21/25	3.90%	$0.69	$0.68	8
Independent Bank	INDB	3/21/25	3.60%	$0.59	$0.57	14
Northeast Community Bancorp	NECB	3/21/25	2.60%	$0.20	$0.15	0
TriNet Group	TNET	3/21/25	1.30%	$0.28	$0.25	0
FirstEnergy	FE	3/20/25	4.50%	$0.45	$0.43	0
J.Jill	JILL	3/20/25	1.60%	$0.08	$0.07	0
Williams-Sonoma	WSM	3/20/25	1.60%	$0.66	$0.57	19
AG Mortgage Investment Trust	MITT	3/19/25	9.70%	$0.20	$0.19	0
CareTrust REIT	CTRE	3/19/25	4.00%	$0.34	$0.29	10
JPMorgan Chase	JPM	3/19/25	2.10%	$1.40	$1.25	15
Americold Realty Trust	COLD	3/18/25	4.10%	$0.23	$0.22	0
Shoe Carnival	SCVL	3/18/25	2.40%	$0.15	$0.14	12
Townsquare Media Cl A	TSQ	3/18/25	9.90%	$0.20	$0.20	0
Milrose Properties Cl A	MRP	3/18/25	–	$0.38	$0.00	0
National CineMedia	NCMI	3/17/25	–	$0.03	$0.00	0
Annaly Capital Mangement	NLY	3/14/25	12.10%	$0.70	$0.65	0
Guaranty Bancshares	GNTY	3/14/25	2.40%	$0.25	$0.24	7
InvenTrust Properties	IVT	3/14/25	3.20%	$0.24	$0.23	0
UDR	UDR	3/14/25	3.90%	$0.43	$0.43	16
W. P Carey	WPC	3/14/25	5.60%	$0.89	$0.88	0
Build-A-Bear Workshop	BBW	3/14/25	2.30%	$0.22	$0.20	0
Realty Income	O	3/14/25	5.70%	$0.27	$0.27	32
Dick’s Sporting Goods	DKS	3/13/25	2.30%	$1.21	$1.10	11
SpartanNash	SPTN	3/13/25	4.40%	$0.22	$0.22	15
Toll Brothers	TOL	3/13/25	0.90%	$0.25	$0.23	5
Vitesse Energy	VTS	3/13/25	8.40%	$0.56	$0.53	0
Applied Materials	AMAT	3/12/25	1.20%	$0.46	$0.40	8
Korn Ferry	KFY	3/12/25	2.20%	$0.48	$0.37	5
Oracle	ORCL	3/12/25	1.10%	$0.50	$0.40	16
American Tower REIT	AMT	3/7/25	3.10%	$1.70	$1.62	14
MFA Financial	MFA	3/7/25	13.10%	$0.36	$0.35	0
Travel + Leisure	TNL	3/7/25	3.70%	$0.56	$0.50	0
AAON	AAON	3/6/25	0.40%	$0.10	$0.08	0
Citizen Financial Services	CZFS	3/6/25	3.40%	$0.50	$0.49	0
General Dynamics	GD	3/6/25	2.30%	$1.50	$1.42	34
Kadant	KAI	3/6/25	0.40%	$0.34	$0.32	12
Miller Industries	MLR	3/6/25	1.70%	$0.20	$0.19	0
Ingram Micro	INGM	3/6/25	–	$0.07	$0.00	0
Best Buy	BBY	3/5/25	5.00%	$0.95	$0.94	22
Ross Stores	ROST	3/5/25	1.10%	$0.41	$0.37	5
TXP Partners	TXO	3/5/25	12.90%	$0.61	$0.58	0
Wyndham Hotels & Resorts	WH	3/5/25	1.40%	$0.41	$0.38	5
American Express	AXP	3/4/25	1.00%	$0.82	$0.70	0
Chatham Lodging Trust	CLDT	3/4/25	3.50%	$0.09	$0.07	0
Ranger Energy Services	RNGR	3/4/25	1.20%	$0.06	$0.05	0
Synovus Financial	SNV	3/4/25	3.10%	$0.39	$0.38	11
First Savings Financial Group	FSFG	3/3/25	2.30%	$0.16	$0.15	13
L3 Harris Technologies	LHX	3/3/25	2.30%	$1.20	$1.16	24
LeMaitre Vascular	LMAT	3/3/25	0.90%	$0.20	$0.16	15
Macy’s	M	3/3/25	5.00%	$0.18	$0.17	0
Old Republic International	ORI	3/3/25	3.00%	$0.29	$0.27	44
PROG Holdings	PRG	3/3/25	1.70%	$0.13	$0.12	0
Range Resources	RRC	3/3/25	0.90%	$0.09	$0.08	0
Unity Bancorp	UNTY	3/3/25	1.20%	$0.14	$0.13	12
US Physical Therapy	USPH	3/3/25	2.30%	$0.45	$0.44	5
Acushnet Holdings	GOLF	2/28/25	1.50%	$0.24	$0.22	7
Aris Water Solutions	ARIS	2/28/25	1.80%	$0.14	$0.11	0
Capital City Bank Group	CCBG	2/28/25	2.50%	$0.24	$0.23	11
Cogent Communications	CCOI	2/28/25	5.40%	$1.01	$1.00	0
Crown Holdings	CCK	2/28/25	1.20%	$0.26	$0.25	0
Dell Technologies	DELL	2/28/25	2.10%	$0.53	$0.45	0
Diamondrock Hospitality	DRH	2/28/25	1.50%	$0.08	$0.03	0
Globe Life	GL	2/28/25	0.80%	$0.27	$0.24	20
Installed Building Products	IBP	2/28/25	0.90%	$0.37	$0.35	5
NewMarket	NEU	2/28/25	1.80%	$2.75	$2.50	12
NL Industries	NL	2/28/25	5.30%	$0.09	$0.08	0
Red River Bancshares	RRBI	2/28/25	0.60%	$0.12	$0.09	0
Wesco International	WCC	2/28/25	0.90%	$0.45	$0.41	0
Allstate	ALL	2/27/25	1.90%	$1.00	$0.92	15
AMERISAFE	AMSF	2/27/25	2.90%	$0.39	$0.37	13
Bentley Systems	BSY	2/27/25	0.60%	$0.07	$0.06	0
DT Midstream	DTM	2/27/25	3.20%	$0.82	$0.74	0
eBay	EBAY	2/27/25	1.70%	$0.29	$0.27	7
EPR Properties	EPR	2/27/25	6.80%	$0.30	$0.29	0
Turning Point Brands	TPB	2/27/25	0.40%	$0.08	$0.07	8
Verisk Analytics	VRSK	2/27/25	0.60%	$0.45	$0.39	7
Xcel Energy	XEL	2/27/25	3.10%	$0.57	$0.55	22
Chord Energy	CHRD	2/26/25	4.40%	$1.30	$1.25	0
Gap Inc	GAP	2/26/25	2.60%	$0.17	$0.15	0
Global Industrial	GIC	2/26/25	4.30%	$0.26	$0.25	9
Home Depot	HD	2/26/25	2.40%	$2.30	$2.25	16
Interparfums	IPAR	2/26/25	2.10%	$0.80	$0.75	5
Linde	LIN	2/26/25	1.20%	$1.50	$1.39	32
Sempra	SRE	2/26/25	3.50%	$0.65	$0.62	21
Xenia Hotels & Resorts	XHR	2/26/25	3.80%	$0.14	$0.12	0
Booking Holdings	BKNG	2/25/25	0.70%	$9.60	$8.75	0
Bridge Investment	BRDG	2/25/25	4.30%	$0.11	$0.10	0
BWX Technologies	BWXT	2/25/25	0.90%	$0.25	$0.24	10
Coterra Energy	CTRA	2/25/25	3.10%	$0.22	$0.21	9
Diamondback Energy	FANG	2/25/25	2.30%	$1.00	$0.90	6
Domino’s Pizza	DPZ	2/25/25	1.30%	$1.74	$1.51	13
Greif	GEF	2/25/25	5.10%	$0.81	$0.80	5
HealthStream	HSTM	2/25/25	0.40%	$0.03	$0.03	0
SBA Communications	SBAC	2/25/25	1.80%	$1.11	$0.98	6
Steel Dynamics	STLD	2/25/25	1.40%	$0.50	$0.46	14
DuPont de Nemours	DD	2/24/25	1.90%	$0.41	$0.38	0
Federal Agricultural Mortgage	AGM	2/24/25	2.90%	$1.50	$1.40	14
Federal Signal	FSS	2/24/25	0.60%	$0.14	$0.12	0
Mueller Industries	MLI	2/24/25	1.20%	$0.25	$0.20	5
Orange County Bancorp	OBT	2/24/25	1.90%	$0.13	$0.13	0
Peoples Bancorp of NC	PEBK	2/24/25	2.80%	$0.20	$0.19	5
Vistra Ebergy	VST	2/24/25	0.60%	$0.22	$0.22	6
Allison Transmission	ALSN	2/21/25	1.10%	$0.27	$0.25	5
Boyd Gaming	BYD	2/21/25	0.90%	$0.18	$0.17	0
C&F Financial	CFFI	2/21/25	2.20%	$0.46	$0.44	11
Coca-Cola	KO	2/21/25	2.90%	$0.51	$0.49	62
Cohen & Steers	CNS	2/21/25	2.90%	$0.62	$0.59	15
Comfort Systems USA	FIX	2/21/25	0.40%	$0.40	$0.35	12
COPT Defense Industries	CDP	2/21/25	4.40%	$0.31	$0.30	0
Dynex Capital	DX	2/21/25	14.50%	$0.17	$0.15	0
Essex Property Trust	ESS	2/21/25	3.30%	$2.57	$2.45	31
KBR Inc	KBR	2/21/25	1.20%	$0.17	$0.15	5
Merchants Bancorp	MBIN	2/21/25	0.90%	$0.10	$0.09	7
Meritage Homes	MTH	2/21/25	2.00%	$0.43	$0.38	0
Olympic Steel	ZEUS	2/21/25	1.60%	$0.16	$0.15	0
Prologis	PLD	2/21/25	3.20%	$1.01	$0.96	11
Ryan Specialty Holdings	RYAN	2/21/25	0.70%	$0.12	$0.11	0
Service Corporation International	SCI	2/21/25	1.60%	$0.32	$0.30	14
Tempur Sealy	SGI	2/21/25	0.90%	$0.15	$0.13	5
Texas Roadhouse	TXRH	2/21/25	1.50%	$0.68	$0.61	0
United Bancorp	UBCP	2/21/25	5.50%	$0.18	$0.18	11
Universal Display	OLED	2/21/25	1.00%	$0.45	$0.40	8
Walmart	WMT	2/21/25	1.00%	$0.24	$0.21	52
JAKKS Pacific	JAKK	2/21/25	–	$0.25	$0.00	0
Leonardo DRS	DRS	2/21/25	–	$0.09	$0.00	0
Atlas Energy Solutions	AESI	2/20/25	4.60%	$0.25	$0.24	0
Chemung Financial	CHMG	2/20/25	2.40%	$0.32	$0.31	0
Jackson Financial	JXN	2/20/25	3.30%	$0.80	$0.70	0
Lamar Advertising Cl A	LAMR	2/20/25	4.60%	$1.55	$1.40	5
McGrath RentCorp	MGRC	2/20/25	1.50%	$0.49	$0.48	33
Realty Income	O	2/20/25	5.70%	$0.27	$0.26	32
Reliance Steel & Aluminum	RS	2/20/25	1.40%	$1.20	$1.10	15
Sherwin-Williams	SHW	2/20/25	0.90%	$0.79	$0.72	47
Sturm Ruger	RGR	2/20/25	1.70%	$0.24	$0.11	0
Thermo Fischer Scientific	TMO	2/20/25	0.30%	$0.43	$0.39	8
Cinemark Holdings	CNK	2/20/25	–	$0.08	$0.00	0
Intevac	IVAC	2/20/25	–	$0.05	$0.00	0
Analog Devices	ADI	2/19/25	1.50%	$0.99	$0.92	23
Centerspace	CSR	2/19/25	4.70%	$0.77	$0.75	5
Constellation Energy	CEG	2/19/25	0.50%	$0.39	$0.35	0
CVR Partners	UAN	2/19/25	8.30%	$1.75	$1.19	0
Devon Energy	DVN	2/19/25	3.30%	$0.24	$0.22	7
Genuine Parts	GPC	2/19/25	3.40%	$1.03	$1.00	69
Hackett Group	HCKT	2/19/25	1.40%	$0.12	$0.11	0
Matador Resources	MTDR	2/19/25	1.70%	$0.31	$0.25	0
Occidental Petroleum	OXY	2/19/25	1.70%	$0.24	$0.22	0
Saratoga Investment	SAR	2/19/25	11.60%	$0.25	$0.25	0
Valmont Industries	VMI	2/19/25	0.70%	$0.68	$0.60	6
WillScot Holdings	WSC	2/19/25	–	$0.07	$0.00	0
Clearway Energy Cl C	CWEN	2/18/25	6.30%	$0.43	$0.42	0
Covanent Logistics Cl A	CVLG	2/18/25	0.90%	$0.07	$0.06	0
Harley-Davidson	HOG	2/18/25	2.70%	$0.18	$0.17	5
Louisiana-Pacific	LPX	2/18/25	1.00%	$0.28	$0.26	8
NextEra Energy	NEE	2/18/25	3.30%	$0.57	$0.52	31
Richond Mutual Bancorp	RMBI	2/18/25	4.00%	$0.15	$0.14	0
Tractor Supply	TSCO	2/18/25	1.60%	$0.23	$0.22	16
Universal Forest Products	UFPI	2/18/25	1.10%	$0.35	$0.33	13
Vulcan Materials	VMC	2/18/25	0.70%	$0.49	$0.46	12
Waste Management	WM	2/18/25	1.30%	$0.83	$0.75	22
Brunswick	BC	2/14/25	2.60%	$0.43	$0.42	13
Community Healthcare Trust	CHCT	2/14/25	9.30%	$0.47	$0.47	9
Enpro	NPO	2/14/25	0.60%	$0.31	$0.30	10
Financial Institutions	FISI	2/14/25	4.20%	$0.31	$0.30	8
HA Sustain Infrastructure Capital	HASI	2/14/25	6.00%	$0.42	$0.42	0
iRadimed	IRMD	2/14/25	1.10%	$0.17	$0.15	0
Iron Mountain	IRMD	2/14/25	3.30%	$0.79	$0.72	0
Karat Packaging	KRT	2/14/25	4.40%	$0.45	$0.40	0
Knight-Swift Transport	KNX	2/14/25	1.20%	$0.18	$0.16	5
Meta Platforms	META	2/14/25	0.30%	$0.53	$0.50	0
Molson Coors B	TAP	2/14/25	3.10%	$0.47	$0.44	0
Moody’s	MCO	2/14/25	0.70%	$0.94	$0.85	15
Murphy USA	MUSA	2/14/25	0.40%	$0.49	$0.48	5
Penske Automotive	PAG	2/14/25	2.60%	$1.22	$1.19	5
PHINIA	PHIN	2/14/25	2.10%	$0.27	$0.25	0
PPL Corp	PPL	2/14/25	3.20%	$0.27	$0.26	0
Quad/Graphics	QUAD	2/14/25	3.00%	$0.08	$0.05	0
RLI Corp	RLI	2/14/25	0.80%	$0.15	$0.15	49
TransUnion	TRU	2/14/25	0.50%	$0.12	$0.11	0
Walker & Dunlop	WD	2/14/25	3.10%	$0.67	$0.65	7
Weyerhauser	WY	2/14/25	2.70%	$0.21	$0.20	0
American Homes 4 Rent	AMH	2/13/25	2.90%	$0.30	$0.26	5
Avista	AVA	2/13/25	5.10%	$0.49	$0.48	23
Cisco Systems	CSCO	2/13/25	2.50%	$0.41	$0.40	15
Corebridge Financial	CRBG	2/13/25	2.90%	$0.24	$0.23	0
Crance NXT	CXT	2/13/25	1.10%	$0.17	$0.16	0
CSX	CSX	2/13/25	1.50%	$0.13	$0.12	21
Equinix	EQIX	2/13/25	1.90%	$4.69	$4.26	11
Exelon	EXC	2/13/25	3.70%	$0.40	$0.38	0
Group 1 Automotive	GPI	2/13/25	0.40%	$0.50	$0.47	5
Koppers Holdings	KOP	2/13/25	1.10%	$0.08	$0.07	0
NorthWestern Energy	NWE	2/13/25	5.00%	$0.66	$0.65	21
Pitney Bowes	PBI	2/13/25	1.90%	$0.06	$0.05	0
Radian Group	RDN	2/13/25	3.00%	$0.26	$0.25	6
Robert Half	RHI	2/13/25	3.60%	$0.59	$0.53	21
Royal Caribbean	RCL	2/13/25	0.70%	$0.75	$0.55	0
UL Solutions	ULS	2/13/25	0.90%	$0.13	$0.13	0
Urban Edge Properties	UE	2/13/25	3.50%	$0.19	$0.17	0
Ventas	VTR	2/13/25	3.00%	$0.48	$0.45	0
Acadia Realty Trust	AKR	2/12/25	3.20%	$0.20	$0.19	0
Gilead Sciences	GILD	2/12/25	3.00%	$0.79	$0.77	10
Kinsale Capital Group	KNSL	2/12/25	0.10%	$0.17	$0.15	9
Masco Corp	MAS	2/12/25	1.60%	$0.31	$0.29	12
Primerrica	PRI	2/12/25	1.50%	$1.04	$0.90	15
Public Services Enterprises	PEG	2/12/25	3.00%	$0.63	$0.60	14
T. Rowe Price Group	TROW	2/12/25	4.70%	$1.27	$1.24	39
TPG	TPG	2/12/25	2.80%	$0.53	$0.38	0
WaFd	WAFD	2/12/25	3.50%	$0.27	$0.26	15
CNA Financial	CAN	2/11/25	3.80%	$0.46	$0.44	8
Jack Henry & Associates	JKHY	2/11/25	1.40%	$0.58	$0.55	34
Middlefield Bancshares	MBCN	2/11/25	3.10%	$0.21	$0.20	0
Ameren	AEE	2/10/25	2.90%	$0.71	$0.67	12
Ametek	AME	2/10/25	0.70%	$0.31	$0.28	12
Wabtec	WAB	2/10/25	0.40%	$0.25	$0.20	0
AllianceBernstein	AB	2/7/25	8.90%	$1.05	$0.77	0
Alpine Income Property	PINE	2/7/25	6.80%	$0.29	$0.28	5
Camde Property Trust	CPT	2/7/25	3.50%	$1.05	$1.03	15
CME Group Cl A	CME	2/7/25	4.30%	$1.25	$1.15	14
CMS Energy	CMS	2/7/25	3.20%	$0.54	$0.52	19
Equity Lifestyle Properties	ELS	2/7/25	3.10%	$0.52	$0.48	20
Exponent	EXPO	2/7/25	1.20%	$0.30	$0.28	12
Intercontinental Exchange	ICE	2/7/25	1.10%	$0.48	$0.45	12
InterDigital	IDCC	2/7/25	1.20%	$0.60	$0.45	0
ITT	ITT	2/7/25	1.00%	$0.35	$0.32	13
MarketAxess Holdings	MKTX	2/7/25	1.50%	$0.76	$0.74	16
Monolithic Power Systems	MPWR	2/7/25	0.70%	$1.56	$1.25	7
Principal Financial Group	PFG	2/7/25	3.60%	$0.75	$0.73	16
Tradeweb Markets	TW	2/7/25	0.40%	$0.12	$0.10	0
Victory Capital Cl A	VCTR	2/7/25	2.20%	$0.47	$0.44	5
WK Kellogg	KLG	2/7/25	3.90%	$0.17	$0.16	0
Yum China Holdings	YUMC	2/7/25	2.00%	$0.24	$0.16	0
Yum! Brands	YUM	2/7/25	2.00%	$0.71	$0.67	8
Expedia Group	EXPE	2/7/25	–	$0.40	$0.00	0
Ares Manqgement	ARES	2/6/25	2.00%	$1.12	$0.93	6
Avalonbay Communities	AVB	2/6/25	3.10%	$1.75	$1.70	0
Century Communities	CCS	2/6/25	1.30%	$0.29	$0.26	0
Cognizant Technology Solutions	CTSH	2/6/25	1.40%	$0.31	$0.30	6
First Industrial Realty Trust	FR	2/6/25	2.70%	$0.45	$0.37	0
Kemper	KMPR	2/6/25	1.80%	$0.32	$0.31	0
Moelis	MC	2/6/25	3.00%	$0.65	$0.60	0
New York Times	NYT	2/6/25	1.10%	$0.18	$0.13	7
Old Dominion Freight Line	ODFL	2/6/25	0.50%	$0.28	$0.26	9
PC Connection	CNXN	2/6/25	0.60%	$0.15	$0.10	0
Rexford Industrial Realty	REXR	2/6/25	4.10%	$0.43	$0.42	12
United Parcel Service	UPS	2/6/25	5.80%	$1.64	$1.63	16
Amdocs	DOX	2/5/25	2.20%	$0.53	$0.48	0
American Assets Trust	AAT	2/5/25	6.00%	$0.34	$0.34	5
Archer Daniels Midland	ADM	2/5/25	4.30%	$0.51	$0.50	50
Graphic Packaging	GPK	2/5/25	1.70%	$0.11	$0.10	0
Herc Holdings	HRI	2/5/25	1.40%	$0.70	$0.67	0
Landmark Bancorp	LARK	2/5/25	3.30%	$0.21	$0.20	24
Otter Tail	OTTR	2/5/25	2.40%	$0.53	$0.47	12
Powell Industries	POWL	2/5/25	0.40%	$0.27	$0.27	0
Prudential Financial	PRU	2/5/25	4.80%	$1.35	$1.30	17
Xylem	XYL	2/5/25	1.20%	$0.40	$0.36	14
Regeneraon Pharmaceuticals	REGN	2/5/25	–	$0.88	$0.00	0
First Business Financial Services	FBIZ	2/4/25	2.20%	$0.29	$0.25	12
Healthpeak Properties	DOC	2/4/25	6.10%	$0.31	$0.30	0
International Bancshares	IBOC	2/4/25	2.00%	$0.70	$0.66	16
Kforce	KFRC	2/4/25	2.90%	$0.39	$0.38	8
Magnolia Oil & Gas	MGY	2/4/25	2.20%	$0.15	$0.13	0
U.S. Lime & Minerals	USLM	2/4/25	0.20%	$0.06	$0.05	0
Woodward	WWD	2/4/25	0.50%	$0.28	$0.25	5
Booz Allen Hamilton	BAH	2/3/25	1.70%	$0.55	$0.51	14
Chevron	CVX	2/3/25	4.60%	$1.71	$1.63	38
Church & Dwight	CHD	2/3/25	1.10%	$0.30	$0.28	29
Cincinnati Financial	CINF	2/3/25	2.40%	$0.87	$0.81	65
Commerce Bancshares	CBSH	2/3/25	1.60%	$0.28	$0.26	57
GATX	GATX	2/3/25	1.50%	$0.61	$0.58	15
Jacobs Engineering Group	J	2/3/25	0.90%	$0.32	$0.29	7
North Europe Oil Royalty Trust	NRT	2/3/25	9.30%	$0.04	$0.02	0
Orrstown Financial	ORRF	2/3/25	3.00%	$0.26	$0.23	10
Postal Realty Trust Cl A	PSTL	2/3/25	7.40%	$0.24	$0.24	7
Allete	ALE	1/31/25	4.50%	$0.73	$0.71	15
Archrock	AROC	1/31/25	2.50%	$0.19	$0.18	0
Baker Hughes	BKR	1/31/25	1.80%	$0.23	$0.21	0
Blackstone	BX	1/31/25	2.20%	$1.44	$0.86	0
Brookfield Infrastructure	BIPC	1/31/25	2.90%	$0.43	$0.41	0
Cigna Group	CI	1/31/25	2.10%	$0.43	$0.41	5
Comcast	CMCSA	1/31/25	3.90%	$0.33	$0.31	17
Esquire Financial Holdings	ESQ	1/31/25	0.70%	$0.18	$0.15	0
Fidelity National Information Services	FIS	1/31/25	1.80%	$0.40	$0.36	0
Hancock Whitney	HWC	1/31/25	2.70%	$0.45	$0.40	0
Hilltop Holdings	HTH	1/31/25	2.40%	$0.18	$0.17	8
Murphy Oil	MUR	1/31/25	4.90%	$0.33	$0.30	0
Oshkosh	OSK	1/31/25	1.80%	$0.51	$0.46	12
PCB Bancorp	PCB	1/31/25	3.70%	$0.20	$0.18	6
Polaris	PII	1/31/25	5.40%	$0.67	$0.66	29
Quest Diagnostics	DGX	1/31/25	2.00%	$0.80	$0.75	15
Simmons First National	SFNC	1/31/25	3.70%	$0.21	$0.21	13
Applided Industrial Technologies	AIT	1/30/25	0.60%	$0.46	$0.37	16
BlackRock	BLK	1/30/25	1.90%	$5.21	$5.10	0
California Water Service Group	CWT	1/30/25	2.50%	$0.30	$0.28	58
Central Pacific Financial	CPF	1/30/25	3.50%	$0.27	$0.26	0
Charles Schwab	SCHW	1/30/25	1.20%	$0.27	$0.25	0
Eversource Energy	ES	1/30/25	5.00%	$0.75	$0.72	27
FB Financial	FBK	1/30/25	1.30%	$0.65	$0.60	7
Arthur J. Gallagher	AJG	1/30/25	0.80%	$0.65	$0.60	15
Global Partners	GLP	1/30/25	5.50%	$0.74	$0.73	0
Las Vegas Sands	LVS	1/30/25	1.60%	$0.25	$0.20	0
MSCI	MSCI	1/30/25	1.10%	$1.80	$1.60	11
Nexstar Media	NXST	1/30/25	4.30%	$1.86	$1.69	13
OFG Bancorp	OFG	1/30/25	2.30%	$0.30	$0.25	5
SJW Group	SJW	1/30/25	3.20%	$0.42	$0.40	58
United Rentals	URI	1/30/25	0.80%	$1.79	$1.63	0
Unitil Corporation	UTL	1/30/25	3.10%	$0.45	$0.43	11
Hanmi Financial	HAFC	1/29/25	4.10%	$0.27	$0.25	0
Kimberly-Clark	KMB	1/29/25	3.80%	$1.26	$1.22	53
Northern Oil&Gas	NOG	1/29/25	4.50%	$0.45	$0.42	0
S&P Global	SPGI	1/29/25	0.70%	$0.96	$0.91	52
Shutterstock	SSTK	1/29/25	4.20%	$0.33	$0.30	6
Sierra Bancorp	BSRR	1/29/25	3.30%	$0.25	$0.24	0
Stifel Financial	SF	1/29/25	1.40%	$0.46	$0.42	8
Trustmark	TRMK	1/29/25	2.50%	$0.24	$0.23	0
Willims Companies	WMB	1/29/25	3.40%	$0.50	$0.48	8
Citizens Commuity	CZWI	1/28/25	2.00%	$0.36	$0.32	6
Crane	CR	1/28/25	0.50%	$0.23	$0.21	0
Energy Transfer	ET	1/28/25	6.40%	$0.33	$0.32	0
Enterprise Financial Services	EFSC	1/28/25	1.90%	$0.29	$0.28	11
Franklin Electric	FELE	1/28/25	1.00%	$0.27	$0.25	33
German American Bancorp	GABC	1/28/25	2.60%	$0.29	$0.27	13
Hess Midstream	HESM	1/28/25	6.70%	$0.70	$0.68	8
Home Bancorp	HBCP	1/28/25	2.10%	$0.27	$0.26	0
Howmet Aierospace	HWM	1/28/25	0.30%	$0.10	$0.08	5
Northrim Bancorp	NRIM	1/28/25	3.00%	$0.64	$0.62	16
Park National	PRK	1/28/25	2.50%	$1.07	$1.06	8
Sunoco	SUN	1/28/25	6.20%	$0.89	$0.88	0
Black Hills	BKH	1/27/25	4.60%	$0.68	$0.65	55
Delek Logistics Partners	DKL	1/27/25	10.10%	$1.11	$1.10	12
East West Bancorp	EWBC	1/27/25	2.30%	$0.60	$0.55	8
HCA Healthcare	HCA	1/27/25	0.90%	$0.72	$0.66	5
Moog	MOOG.A	1/27/25	0.70%	$0.29	$0.28	5
Oak Valley Bancorp	OVLY	1/27/25	1.70%	$0.30	$0.23	12
Acuity Brands	AYI	1/24/25	0.20%	$0.17	$0.15	0
Byline Namcorp	BY	1/24/25	1.40%	$0.10	$0.09	0
Elevance Health	ELV	1/24/25	1.70%	$1.71	$1.63	15
Heritage Financial	HFWA	1/24/25	3.90%	$0.24	$0.23	14
JB Hunt Financial	JBHT	1/24/25	1.00%	$0.44	$0.43	21
Magyar Bancorp	MGYR	1/24/25	1.40%	$0.06	$0.05	0
NiSource	NI	1/24/25	2.80%	$0.28	$0.27	8
Wintrust Financial	WTFC	1/24/25	1.40%	$0.50	$0.45	11
Air Products & Chemicals	APD	1/23/25	2.20%	$1.79	$1.77	43
Amalgamated Financial	AMAL	1/23/25	1.40%	$0.14	$0.12	0
Cadence Bank	CADE	1/23/25	2.90%	$0.28	$0.25	0
Civista Bancshares	CIVB	1/23/25	3.00%	$0.17	$0.16	14
Colony Bankcorp	CBAN	1/23/25	2.70%	$0.12	$0.11	9
HBT Financial	HBT	1/23/25	3.30%	$0.21	$0.19	0
Hexcel	HXL	1/23/25	0.90%	$0.17	$0.15	0
NRG Energy	NRG	1/23/25	1.50%	$0.44	$0.41	6
Oneok	OKE	1/23/25	3.80%	$1.03	$0.99	0
Republic Bancorp KY	RBCAA	1/23/25	2.40%	$0.45	$0.41	0
Cadre Holdings	CDRE	1/22/25	0.90%	$0.10	$0.09	0
Enterprise Bancorp	EBTC	1/22/25	2.30%	$0.25	$0.24	30
FS Bancorp	FSBW	1/22/25	2.60%	$0.28	$0.27	12
Mercantile Bank	MBWM	1/22/25	3.00%	$0.37	$0.36	13
ONE Gas	OGS	1/22/25	3.80%	$0.67	$0.66	11
Pinnacle Financial Partners	PNFP	1/22/25	0.70%	$0.24	$0.22	0
USCB Financial Holdings	USCB	1/22/25	1.10%	$0.10	$0.05	0
Alliant Energy	LNT	1/21/25	3.10%	$0.51	$0.48	22
Fastenal	FAST	1/21/25	2.30%	$0.43	$0.39	26
Schlumberger	SLB	1/21/25	2.60%	$0.29	$0.28	0
Consolidated Edison	ED	1/17/25	3.50%	$0.85	$0.83	50
Graham Holdings	GHC	1/17/25	0.80%	$1.80	$1.72	8
Plumas Bancorp	PLBC	1/17/25	2.30%	$0.30	$0.27	5
Valero Energy	VLO	1/17/25	3.00%	$1.13	$1.07	0
First Busey	BUSE	1/16/25	4.20%	$0.25	$0.24	0
Lakeland Financial	LKFN	1/15/25	2.80%	$0.50	$0.48	12
Independent Bank Corporation	IBCP	1/13/25	2.90%	$0.26	$0.24	11
STAG Industrial	STAG	1/13/25	4.60%	$0.12	$0.12	13
TD SYNNEX	SNX	1/13/25	1.30%	$0.44	$0.40	5
Albertsons	ACI	1/10/25	3.00%	$0.15	$0.12	0
Apogee Enterprises	APOG	1/10/25	2.00%	$0.26	$0.25	14
Enterprise Products Partners	EPD	1/10/25	6.70%	$0.54	$0.53	28
Jeffries Financial Group	JEF	1/10/25	2.00%	$0.40	$0.35	0
Royalty Pharma	RPRX	1/10/25	2.80%	$0.22	$0.21	0
Medalist Divers REIT	MDRR	1/8/25	1.80%	$0.07	$0.06	0
Plains All American Pipeline	PAA	1/8/25	6.80%	$0.38	$0.32	0
Plains GP Holdings	PAGP	1/8/25	6.40%	$0.38	$0.32	0
Alamo Group	ALG	1/3/25	0.60%	$0.30	$0.26	0
Bank OZK	OZK	1/3/25	3.70%	$0.42	$0.41	28
Kite Realty Group Trust	KRG	1/2/25	4.20%	$0.27	$0.26	0
Mosaic	MOS	12/23/24	3.60%	$0.22	$0.21	6
Lamb Weston Holdings	LW	12/20/24	2.40%	$0.37	$0.36	8
Veralto	VLTO	12/20/24	0.40%	$0.11	$0.09	0
Ameris Bancorp	ABCB	12/19/24	1.00%	$0.20	$0.15	0
First Financial Indiana	THFF	12/19/24	3.90%	$0.51	$0.45	36
Norwood Financial	NWFL	12/19/24	4.70%	$0.31	$0.30	24
Fulton Financial	FULT	12/18/24	3.40%	$0.18	$0.17	11
Mastercard	MA	12/18/24	0.60%	$0.76	$0.66	13
CenterPoint Energy	CNP	12/17/24	2.70%	$0.22	$0.21	0
CubeSmart	CUBE	12/17/24	4.50%	$0.52	$0.52	15
RENN Fund	RCG	12/17/24	0.60%	$0.22	$0.02	0
ServisFirst Bancshares	SFBS	12/17/24	1.30%	$0.34	$0.30	10
OneSpan	OSPN	12/17/24	–	$0.12	$0.00	0
Abbott Laboratories	ABT	12/16/24	2.10%	$0.59	$0.55	11
Alexander & Baldwin	ALEX	12/16/24	4.70%	$0.23	$0.22	0
Andersons	ANDE	12/16/24	1.80%	$0.20	$0.19	28
Bristol Myers Squibb	BMY	12/16/24	4.40%	$0.62	$0.60	18
Edison International	EIX	12/16/24	4.10%	$0.83	$0.78	21
Ensign Group	ENSG	12/16/24	0.20%	$0.06	$0.06	17
Erie Indemnity	ERIE	12/16/24	1.30%	$1.37	$1.28	36
Invitation Homes	INVH	12/16/24	3.50%	$0.29	$0.28	6
Nucor	NUE	12/16/24	1.80%	$0.55	$0.54	51
Redwood Trust	RWT	12/16/24	9.40%	$0.18	$0.17	0
W. P. Carey	WPC	12/16/24	6.20%	$0.88	$0.88	0
Broadcom	AVGO	12/13/24	0.90%	$0.59	$0.53	15
Pfizer	PFE	12/13/24	6.60%	$0.43	$0.42	14
REV Group	REVG	12/13/24	0.60%	$0.06	$0.05	0
SEI Investments	SEIC	12/13/24	1.10%	$0.49	$0.46	33
Zoetis	ZTS	12/13/24	1.10%	$0.50	$0.43	12
Utah Medical Products	UTMD	12/12/24	1.90%	$0.31	$0.30	0
WD-40	WDFC	12/12/24	1.30%	$0.94	$0.88	15
Match Group	MTCH	12/12/24	–	$0.19	$0.00	0
Amgen	AMGN	12/11/24	3.30%	$2.38	$2.25	13
Balchem	BCPC	12/11/24	0.40%	$0.87	$0.79	15
Ferguson Enterprises	FERG	12/11/24	1.60%	$0.83	$0.79	0
Fortune Brands Innovation	FBIN	12/11/24	1.20%	$0.25	$0.24	0
Mid-America Apartment Communities	MAA	12/11/24	3.70%	$1.52	$1.47	15
Paccar	PCAR	12/11/24	1.00%	$0.33	$0.30	14
Realty Income	O	12/11/24	5.70%	$0.26	$0.26	31
Stryker	SYK	12/11/24	0.80%	$0.84	$0.80	31
Toro	TTC	12/11/24	1.60%	$0.38	$0.36	21
Alexandria Real Estate	ARE	12/10/24	4.90%	$1.32	$1.30	14
Eli Lilly	ELI	12/10/24	0.60%	$1.50	$1.30	11
Essential Property Realty Trust	EPRT	12/10/24	3.60%	$0.30	$0.29	6
JPMorgan Chase	JPM	12/10/24	2.10%	$1.25	$1.15	14
AES	AES	12/9/24	5.00%	$0.18	$0.17	12
Albany International	AIN	12/9/24	1.30%	$0.27	$0.26	7
Carrier Global	CARR	12/9/24	1.20%	$0.23	$0.19	5
Chicago Atlantic BDC	LIEN	12/9/24	8.40%	$0.34	$0.25	0
Graco	GGG	12/9/24	1.20%	$0.28	$0.26	27
Marriott Vacations	VAC	12/9/24	3.30%	$0.79	$0.76	0
Morningstar	MORN	12/9/24	0.50%	$0.46	$0.41	11
SL Green Realty	SLG	12/9/24	4.00%	$0.26	$0.25	0
ABM Industries	ABM	12/6/24	1.60%	$0.27	$0.23	57
Eastman Checmical	EMN	12/6/24	3.20%	$0.83	$0.81	15
Ecolab	ECL	12/6/24	0.90%	$0.65	$0.57	32
Hillenbrand	HI	12/6/24	2.70%	$0.23	$0.22	16
Owens Corning	OC	12/6/24	1.20%	$0.69	$0.60	11
Trinity Industries	TRN	12/6/24	2.90%	$0.30	$0.28	14
Upbound Group	UPBD	12/6/24	4.40%	$0.39	$0.37	0
Utz Brands	UTZ	12/6/24	1.40%	$0.06	$0.06	0
WEC Energy Group	WEC	12/6/24	3.40%	$0.89	$0.84	21
Choice Financial Services	COFS	12/5/24	2.90%	$0.28	$0.27	13
Disney	DIS	12/5/24	0.60%	$0.50	$0.45	0
DTE Energy	DTE	12/5/24	3.60%	$1.09	$1.02	0
Franklin Resources	BEN	12/5/24	5.50%	$0.32	$0.31	44
Aflac	AFL	12/4/24	1.90%	$0.58	$0.50	42
Campbell’s	CPB	12/4/24	3.50%	$0.39	$0.37	0
Deere	DE	12/4/24	1.30%	$1.62	$1.47	0
Hanover Insurance Group	THG	12/4/24	2.20%	$0.90	$0.85	20
Raymond James	RJF	12/4/24	1.10%	$0.50	$0.45	12
TXNM Energy	TXNM	12/4/24	3.10%	$0.41	$0.39	13
Global Water Resources	GWRS	11/29/24	2.20%	$0.03	$0.03	8
HP	HPQ	11/27/24	3.20%	$0.29	$0.28	15
York Water	YORW	11/27/24	2.40%	$0.22	$0.21	27
Hormel Foods	HRL	11/26/24	3.60%	$0.29	$0.28	58
Orange County Bancorp	OBT	11/26/24	1.70%	$0.25	$0.23	0
RGC Resources	RGCO	11/26/24	3.90%	$0.21	$0.20	24
Universal Health Realty	UHT	11/26/24	7.00%	$0.74	$0.73	39
Brown-Forman Cl A	BF.A	11/25/24	2.21%	$0.23	$0.22	40
GE HealthCare Technologies	GEHC	11/25/24	0.20%	$0.04	$0.03	0
Natural Grocers	NGVC	11/25/24	1.00%	$0.12	$0.10	0
Matthews International	MATW	11/22/24	3.30%	$0.25	$0.24	29
Quanta Services	PWR	11/22/24	0.10%	$0.10	$0.09	6
Stellar Bancorp	STEL	11/22/24	1.70%	$0.14	$0.13	0
United Bancorp	UBCP	11/22/24	5.30%	$0.18	$0.18	11
Agilent Technologies	A	11/21/24	0.80%	$0.25	$0.24	13
BayCom	BCML	11/21/24	1.40%	$0.15	$0.10	0
Energy Services of America	ESOA	11/21/24	0.40%	$0.03	$0.02	0
First US Bancshares	FUSB	11/21/24	1.60%	$0.07	$0.05	0
WesBanco	WSBC	11/21/24	4.00%	$0.37	$0.36	14
Assurant	AIZ	11/20/24	1.50%	$0.80	$0.72	20
Dolby Laboratories	DLB	11/20/24	1.60%	$0.33	$0.30	10
La-ZX Boy	LZB	11/20/24	2.10%	$0.22	$0.20	0
McCormick	MKC	11/20/24	2.20%	$0.45	$0.42	38
Merck	MRK	11/20/24	3.30%	$0.81	$0.77	14
Royal Gold	RGLD	11/20/24	1.10%	$0.45	$0.40	23
AECOM	ACM	11/19/24	0.80%	$0.26	$0.22	0
Patrick Industries	PATK	11/19/24	1.70%	$0.60	$0.55	5
Vertic Holdings	VRT	11/19/24	0.11%	$0.04	$0.03	0
First National Virginia	FXNC	11/18/24	2.60%	$0.16	$0.15	10
National Bankshares	NKSH	11/18/24	5.00%	$0.78	$0.73	0
Popular	BPOP	11/18/24	2.90%	$0.70	$0.62	0
ReposiTrak	TRAK	11/18/24	0.30%	$0.02	$0.02	0
Spire	SR	11/18/24	4.60%	$0.79	$0.76	21
Amkor Technology	AMKR	11/15/24	1.30%	$0.08	$0.08	0
Kulicke & Soffa Indsutries	KLIC	11/15/24	1.80%	$0.21	$0.20	6
LCI Industries	LCII	11/15/24	3.70%	$1.15	$1.05	8
Motorola Solutions	MSI	11/15/24	0.90%	$1.09	$0.98	13
National Storage Affiliates	NSA	11/15/24	5.20%	$0.57	$0.56	9
Nike	NKE	11/15/24	1.90%	$0.40	$0.37	23
PulteGroup	PHM	11/15/24	0.70%	$0.22	$0.20	7
Spectrum Brqnd Holdings	SPB	11/15/24	2.10%	$0.47	$0.42	0
Veris Residential	VRE	11/15/24	1.80%	$0.08	$0.07	0
FrontView REIT	FVR	11/15/24	–	$0.22	$0.00	0

Monthly Dividend Statistics

This dividend meta data is for U.S. stock markets. The data source is the S&P Market Attributes File. The table presents the past month, the prior month, and one year ago. Historical trends are shown in the charts below.

	Oct-25	Sep-25	Oct-24
Total Declarations	4563	4781	3806
Special or Extra Dividends	49	44	40
Dividend Increases	148	54	135
Dividend Resumptions	0	0	0
Dividend Decreases	7	17	7
Dividend Omissions (Suspensions)	0	0	0

Historical Trends

The chart below show the dividend increases and resumptions (reinstatements) as a function of time back to 2004. Increases drop during times of economic duress and especially during recessions, The decline from 2008 – 2011 was severe and is an indicator of the severity of the Great Recession. The sharp decline during the COVID-19 pandemic was almost as severe but the rebound of dividend increases was quick. Of note the number of companies that resumed their dividends after suspensions was relatively high compared to historical data.

The corresponding chart is of dividend decreases and omissions (suspensions) as a function of time back to 2004. Decreases and omissions have a tendency to increase when companies face economic headwinds and recessions. Notably, since the Great Recession, decreases and to a lesser extent omissions have been higher than before the Great Recession. Dividend decreases and omissions spiked in 2020 during the COVID-19 pandemic but quickly returned to lower levels.

The chart below clearly demonstrates the relationship between positive dividend actions and negative dividend actions. Dividend increases and resumptions are inversely related to dividend decreases and omissions.

FAQ About Dividends?

What is a dividend? Dividends are cash distributions paid by companies traded on a stock exchange periodically from their earnings to shareholders. Dividends are paid from the profit a company generates. Most companies pay dividends quarterly in the U.S. Some companies pay dividends monthly, and a few pay dividends bi-annually or annually in the U.S. It is much more common for a European company to pay a dividend bi-annually or annually. Dividends are set and approved by a company’s board of directors and also approved by the shareholders. The company board and shareholders also approve dividend increases.

Types of Dividends

Generally, there are, in general, three types of dividends paid by companies: regular or ordinary cash dividends, stock dividends, and special dividends. It is the regular cash dividend that is usually increased each year. Stock dividends tend to be a fixed amount each year if paid by a company. Special dividends are irregular and often fluctuate.

Parts of a Dividend Payment

A dividend payment has four parts: an announcement or declaration date, an ex-dividend date, a record date, and a payment date.

Announcement or Declaration Date

The announcement or declaration date is when the dividend is announced by the company or, more specifically, the company’s board. This information is typically published in a press release and includes the amount, the record date, and the payment date.

Ex-Dividend Date

The ex-dividend date is the day when dividend eligibility expires. A shareholder must own the stock before the ex-dividend date to receive the dividend. Typically, this is one business day before the record date. This was changed in September 2017 from two days before the record date to one day. If you purchase a stock on or after the ex-dividend date you will not receive the dividend. Instead, the seller will receive the dividend. This one day gives time for records to be updated. The ex-dividend date is set by the U.S. Securities and Exchange Commission or ‘SEC’ and not the company.

Record Date

The record date is the cutoff date to determine which shareholders are eligible to receive the announced dividend. This is the date that the company must have you listed as a shareholder to receive the dividend. If the company does not have you recorded as a shareholder, you will not receive the dividend.

Payment Date

The payment date is when the company pays the dividend to shareholders recorded on the record date. In general, the payment date is two to four weeks after the record date but can be longer.

What Types of Companies Increase Their Dividends Each Year?

Many companies increase their dividends, but only a select category annually increases their dividend growth stocks. There are several advantages and risks to dividend growth investing. First, this type of stock is categorized by the consecutive number of years that a company pays a growing dividend. Companies that have done so for 50+ years are referred to as Dividend Kings. Companies that have paid a growing dividend for 25+ years are known as Dividends Champions. Those that have increased the dividend for 10 – 24 years are called Dividend Contenders. Lastly, companies that have raised the dividend for 5 – 9 years are known as Dividend Challengers.

Companies that increase their dividends annually do so because their business model lets them generate rising revenue and earnings annually. The companies expect future revenue and profits to continue to grow. The ability to pay a growing dividend each year is also a sign of financial strength and stability.

Dividend Growth Stock Lists – Annual Dividend Increases

I have written articles and analyses on U.S. dividend growth stocks, including:

For Canadian stocks, I have written about

For U.K. stocks, I have written about

Other dividend stock lists

Related Articles on Dividend Power

Here are my recommendations:

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Prakash Kolli is the founder of the Dividend Power site. He is a self-taught investor, analyst, and writer on dividend growth stocks and financial independence. His writings can be found on Seeking Alpha, InvestorPlace, Business Insider, Nasdaq, TalkMarkets, ValueWalk, The Money Show, Forbes, Yahoo Finance, and leading financial sites. In addition, he is part of the Portfolio Insight and Sure Dividend teams. He was recently in the top 1.0% and 100 (73 out of over 13,450) financial bloggers, as tracked by TipRanks (an independent analyst tracking site) for his articles on Seeking Alpha.

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Recent Reviews

What Makes a Tax Debt “Legally Enforceable” for Passport Certification? – Houston Tax Attorneys

The IRS has a number of tools it can use to collect unpaid taxes. This includes liens and levies, offsetting refunds, and, since 2015, requesting that the State Department deny or revoke a taxpayer’s passport.

But what happens when a tax debt is old and seemingly beyond the collection statute of limitations? Can the IRS still certify it as “seriously delinquent” for passport purposes? What if the IRS previously obtained a default judgment against the taxpayer for tax debts for older years? Would that change the answer?

The recent Garcia v. Commissioner, 164 T.C. 8 (2025) case gets into these issues. It considers when tax debts remain “legally enforceable” for passport certification purposes, which, in turn, helps clarify how taxpayers can challenge improper certifications.

Facts & Procedural History

The taxpayer in this case accumulated over $100,000 in unpaid federal tax liabilities for the 2007 and 2010 tax periods.

As part of its IRS tax Collection efforts, the IRS filed Notices of Federal Tax Lien and sent notices of these filings to the taxpayer’s last known address. The IRS also sent Notices of Intent to Levy to the taxpayer in 2008 and in 2010.

The taxpayer requested a Collection Due Process hearing for one of the lien notices. He did not request hearings for any of the levy notices, and the time for requesting hearings on the other lien notices had expired by 2022.

In 2014, the IRS filed suit in the U.S. District Court to reduce the tax liabilities to judgment. The district court entered a default judgment against the taxpayer in late 2014. Without this judgment, the 10-year collection statute would have expired between 2017 and 2020 for most of his liabilities. The judgment probably extended the statute for another ten years.

Eight years after obtaining the judgment, in 2022, the IRS certified to the Secretary of State that the taxpayer had a “seriously delinquent tax debt” under Section 7345 of the tax code.

The taxpayer filed a petition with the U.S. Tax Court challenging the certification. He claimed that he was never served in the district court action, making the default judgment void and, since the statute had ran, his tax debt no longer legally enforceable.

What Is Section 7345 of the Tax Code?

Section 7345 was added to the tax code as part of the Fixing America’s Surface Transportation Act (“FAST Act”) in 2015. This law created a new process for the IRS to “encourage” tax compliance by limiting a delinquent taxpayer’s ability to travel internationally.

Under this section, if the IRS certifies that a taxpayer has a “seriously delinquent tax debt,” the Secretary of State may deny, revoke, or limit that taxpayer’s passport. The taxpayer can challenge this certification by filing a petition in either the Tax Court or a federal district court.

The tax court’s powers are limited in these proceedings. The tax court’s role in these cases is specifically limited to determining whether the certification was erroneous or whether the IRS has failed to reverse it when required. Thus, the court cannot address the underlying tax liability or grant any relief beyond ordering the IRS to notify the State Department that the certification was erroneous.

Readers of this site may well know that these types of compartmentalized court remedies are usually problematic, as they allow taxpayers to get one part of what they are seeking–but then deny full releif–even though all of the facts, etc. necessary for getting the full remedy are squarely before the court to get the first part of the relief.

What Qualifies as a “Seriously Delinquent Tax Debt”?

This leads to the question as to what qualifies as a “seriously delinquent tax debt.” For a tax debt to be considered “seriously delinquent” under Section 7345(b), it must meet several specific criteria.

First, it must be an “unpaid, legally enforceable Federal tax liability of an individual.” This language is important because a tax debt that is no longer legally enforceable—for example, because the collection statute of limitations has expired—cannot be certified as seriously delinquent.

Second, the debt must have been assessed by the IRS. Assessment is the formal recording of a tax liability in the IRS’s records. So basically the IRS computer has to reflect the balance as being a balance that is due.

Third, the debt must exceed a certain threshold amount, which was $50,000 when the law was enacted but is adjusted annually for inflation. In 2022, the date in this court case when the debt was certified, the threshold was $55,000.

Fourth, either (a) a notice of lien must have been filed under Section 6323 and the taxpayer’s administrative rights under Section 6320 must have been exhausted or lapsed, or (b) a levy must have been made under Section 6331.

The law also excludes certain debts from being considered “seriously delinquent,” such as those being paid in a timely manner under an installment agreement or offer in compromise, or debts for which collection is suspended due to a pending request for innocent spouse relief or a Collection Due Process hearing.

Why Is the “Legally Enforceable” Requirement So Important?

The requirement that a tax debt be “legally enforceable” to qualify as “seriously delinquent” is important. But like many important provisions in our tax laws, the term is explicitly defined in Section 7345.

At minimum, one can deduce that a tax debt is not legally enforceable if the statute of limitations for collecting it has expired. Under Section 6502(a) of the tax code, the IRS generally has 10 years from the date of assessment to collect a tax liability. This includes not only the original tax but also any interest that accrues on the unpaid liability.

In this case, most of the taxpayer’s tax liabilities were assessed between March 2007 and August 2010. Without any extension, the collection statute would have expired between March 2017 and August 2020—well before the IRS certification in October 2022.

How Do Federal Court Judgments Extend the Collection Statute?

This brings us to the extension. The 10-year collection statute can be extended in various ways, including when the United States brings an action in court to collect a tax liability and obtains a judgment. In that case, the limitations period is extended until the judgment is satisfied or becomes unenforceable after 20 more years.

When the United States obtains a judgment for unpaid taxes, the judgment creates a lien that lasts for 20 years under 28 U.S.C. §3201, and this lien may be renewed for another 20 years. This means a federal court judgment can potentially extend the IRS’s ability to collect a tax debt far beyond the original 10-year period.

In the present case, the IRS argued that the 2014 default judgment extended the collection statute until at least August 11, 2034—20 years after the judgment was entered. Ouch. If valid, this would mean that the taxpayer’s tax debt was still legally enforceable when the IRS certified it as “seriously delinquent” in October 2022. Double ouch.

Can a Taxpayer Challenge the Underlying Judgment in a Passport Case?

This gets to the default judgment part of the case. The taxpayer claimed that he was never served with the complaint in the 2014 district court action. This claim directly challenged whether the judgment extending the collection statute was valid in the first place.

Under well-established legal principles, a judgment entered without personal jurisdiction over the defendant is void. Personal jurisdiction typically requires proper service of process, which is how a court asserts its authority to adjudicate the rights of a party. This is not tax law, but rather, just the laws involved in general civil litigation.

The Supreme Court has long held that “the want of jurisdiction is a matter that may always be set up against a judgment when sought to be enforced, or where any benefit is claimed under it.” In other words, a person can challenge a judgment as void for lack of personal jurisdiction even years after it was entered if someone tries to use that judgment against them.

If the taxpayer truly was not served in the district court suit, the default judgment would be void and would not have extended the collection statute. This would mean his tax liabilities were no longer legally enforceable when the IRS certified them as “seriously delinquent” for passport purposes. That would be a great reversal of fourtune for the taxpayer.

What Is the Scope of Tax Court Review in Passport Cases?

So what did the court say and how did it get there? The first question the court had to contend with to answer this is what is the scope of the court’s review in passport certification cases? Is the court’s review limited to the administrative record that was before the IRS when it made the certification, or can the court consider new evidence presented during the tax court proceedings?

The IRS often prefers cases to be limited to the administrative record. This gives the IRS the argument that the taxpayer did not produce various items during the proceeding and, therefore, they lose their right to present anything in the court proceeding. Collection due process hearings work this way, typically.

This was important in this case because the administrative record likely contained only the default judgment and related documents. It probably didn’t include any evidence regarding whether the taxpayer was actually served in the district court action. If the tax court’s review was limited to the administrative record, it could not consider the taxpayer’s testimony about lack of service.

To answer this question, the tax court examined its jurisdictional provisions under Section 7345(e), which authorizes the court “to determine whether the certification was erroneous.” The court focused on the word “determine,” noting that in other contexts—such as deficiency redeterminations and innocent spouse relief—Congress’s use of this word signals that the court should conduct a de novo review based on a new record. This means that the court can consider more than just the administrative record.

How Did the Tax Court Rule in the Garcia Case?

Okay, so how did the court rule? The court held that a tax liability is not “legally enforceable” within the meaning of Section 7345(b) if the limitations period for collecting it has expired.

The court recognized that whether the limitations periods remained open in this case depended on whether the taxpayer was served in the district court action, which was a disputed issue of fact that could not be resolved on summary judgment.

Because the taxpayer raised a genuine issue of material fact about whether he was served in the district court action—a fact that could determine whether his tax debt was legally enforceable at the time of certification—the court denied the IRS’s motion for summary judgment.

So in short, the court didn’t really rule on the issue. Unless the case goes forward to trial and an opinion is issued, the implication of this case is that taxpayers can put on evidence to show that older taxes are time barred and therefore the IRS cannot certify the tax debt to the Secretary of State.

The Takeaway

While this case didn’t get to a final decision, the case does open the door for taxpayers to present evidence to defend against passport certifications. For those with older tax debts, this right is critical. The IRS can and does miss the statute of limitations–even in cases where it does not pursue a judgment in district court and even in cases where it does and there is no default judgment. Those with older tax debts needing to travel, should take note of the arguments made in this case as further development of the possible remedies in this area is possible and likely.