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In a very busy week for with many companies announcing dividend hikes , oil company Chevron (CVX) also declared an increased quarterly dividend rate of $1.51 per share, up 6.3% from the previous quarterly dividend of $1.42 per share.

On January 24, 2023, S&P Dow Jones Indices announced its annual index changes for the Canadian Dividend Aristocrats Index. Five new companies are added and seven companies will be deleted.

On January 27, 2023, Dividend Aristocrat Cincinnati Financial (trading symbol CINF) announced a dividend hike of 8.7% from $0.69 to $0.75 quarterly per share. This marks 63 straight years of dividend growth for the insurer.

Dividend Aristocrat ADM ( Archer-Daniels-Midland ) surprised many investors with a double digit dividend increase of 12.5% to $0.45 quarterly per share in Q1 of 2023. This marks 48 consecutive years of dividend growth.

On January 25, 2023, S&P Global (trading symbol SPGI) declared a new quarterly dividend of $0.90 per share, up 5.9% from the previous quarterly rate of $0.85. This dividend hike marks 50 consecutive years of dividend growth for the Dividend Aristocrat.

S&P Dow Jones Indices will add three new Dividend Aristocrats to its well known S&P500 Dividend Aristocrats Index in 2023. This will bring the total number of Aristocrats to 67 stocks with no deletions being announced this year.

Franklin Electric Co. (FELE) will increase its dividend by 15.4 percent to $0.225 quarterly per share in 2023. This marks 31 consecutive years of dividend growth by the global leader in the production and marketing of systems and components for the movement of water and fuel.

The average return for all 64 Dividend Aristocrats in 2022 was -5.1%. With that all major US indices were outperformed. The biggest gainer was oil major Exxon Mobil , benefiting from increased oil and gas prices in 2022. The worst performer was VF Corp, being pulled down in the negative sentiment for consumer stocks.