3 Dividend Champion Stocks I'm Watching in 2025

Key Points

• Enbridge has raised its payout for 30 straight years.

• Enterprise Products Partners has hiked its distribution for 27 years in a row.

• NNN REIT recently extended its dividend growth streak to 36 consecutive years.

• 10 stocks we like better than Enbridge ›

Dividend Champions are known for their reliability. These companies have raised their dividends annually for at least 25 years. Some remain overlooked by investors because they don't need to be in the S&P 500 (SNPINDEX: ^GSPC) to qualify for this premier list of dividend payers.

Three underappreciated Dividend Champions I'm watching this year are Enbridge (NYSE: ENB), Enterprise Products Partners (NYSE: EPD), and NNN REIT (NYSE: NNN). I'm monitoring these stocks to see if they can continue securing the growth needed to keep their streaks going.

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Looking for more growth

Enbridge has paid dividends for over 70 years, raising them for the last 30 straight years. Despite its strong record, the Canadian pipeline and utility company isn't as popular with U.S. investors. As a result, many miss out on its high-yield payout (nearing 6%).

The energy infrastructure giant currently has 32 billion Canadian dollars (US$23 billion) of commercially secured expansion projects under construction, which it expects to complete through 2029. Those projects include oil pipeline expansions, new gas pipelines, natural gas utility projects, and renewable energy developments. Enbridge expects these investments to support a 3% compound annual cash flow per share growth rate through 2026, accelerating to 5% annually thereafter.

Enbridge is pursuing another CA$50 billion ($36 billion) in expansion projects. I'm watching its progress in continuing to secure new growth projects. It has already landed several new projects this year, including a $900 million investment in a solar facility to support Meta Platforms' growing power needs. More growth means more fuel to increase its high-yield dividend.

Watching for the next wave

Enterprise Products Partners has boosted its cash distributions for 27 straight years. Despite this consistency, many investors avoid this master limited partnership (MLP), since it issues a Schedule K-1 federal tax form instead of a 1099-DIV.

While K-1s complicate tax returns, they also provide some tax benefits. Those who skip MLPs such as Enterprise miss out on its high-yielding (currently around 7%) and steadily growing distribution.

This midstream company is about to hit a growth spurt. It has $6 billion in expansion projects coming online by year-end, which should meaningfully boost its cash flow in the coming quarters.

I'm keeping my eye on whether Enterprise Products Partners can refill its growth engine. The MLP expects its growth capital spending to decline from a range of $4 billion-$4.5 billion this year to $2.2 billion-$2.5 billion in 2026. It doesn't currently have any commercially secured growth projects beyond 2026.

While the company recently approved the construction of a new gas processing plant, it expects to complete that project by the end of next year. I'd like to see it secure more expansion opportunities, which would extend the visibility of its distribution growth outlook.

Keeping an eye on its acquisition volume

NNN REIT reached a major milestone last year, extending its dividend growth streak to 35 years (it's now up to 36 years). This is the third-longest streak among real estate investment trusts (REITs) and a mark achieved by fewer than 80 public companies.

This smaller REIT isn't in the S&P 500. As a result, fewer investors hold it, causing many to miss out on a steadily rising, high-yield dividend (nearly 6%).

I'm monitoring NNN REIT's growth. It closed $464.9 million in new investments in the first half of the year, close to its $500 million-$600 million annual target, which it has now raised by $100 million. With its strong financial profile, it could easily exceed this goal. A higher acquisition volume could enhance its ability to continue increasing its dividend in the future.

These consistent dividend stocks are worth watching

Enbridge, Enterprise Products Partners, and NNN REIT are often overlooked despite their steady dividend growth. While I'm watching their progress in securing more growth-related investments this year, these companies have excellent track records of increasing their cash flow and dividends. That is why I believe income-focused investors should consider adding these dependable dividend stocks to their portfolios.

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Matt DiLallo has positions in Enbridge, Enterprise Products Partners, and Meta Platforms. The Motley Fool has positions in and recommends Enbridge and Meta Platforms. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy.