DOV vs PPG: Dividend Comparison
Dividend data as of
DOVER Corp (DOV) from Industrials and Ppg Industries Inc (PPG) from Materials offer different dividend profiles for income-focused portfolios. PPG offers a significantly higher 2.15% yield compared to DOV's 0.90%, a gap of 1.25%. For dividend growth, PPG leads with a 5-year CAGR of 5.3% versus DOV's 1.0%. Both stocks carry a "Safe" dividend safety rating. Both are classified as Dividend Aristocrats.
Verdict
Yield Analysis
PPG yields 1.25% more than DOV. In dollar terms, DOV pays $2.08/share vs PPG's $2.78/share annually.
Dividend Growth
DOV: Dividend growth has been steady, with a 3-year CAGR of 1.0% and a 5-year CAGR of 1.0% (10-year: 4.5%).
PPG: Dividend growth is slowing — the 3-year CAGR of 4.6% trails the 5-year rate of 5.3% and the 10-year rate of 6.6%.
Dividend Safety
DOV: The payout ratio of 26% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 3.8x.
PPG: The payout ratio of 40% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 2.5x.
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in DOV vs PPG today?
At $231.16 per share, $10,000 buys about 43.3 shares of DOVER Corp (DOV). Each share pays $2.08 per year in dividends, so the position starts out generating roughly $90 per year — about $7 a month.
At $131.33 per share, $10,000 buys about 76.1 shares of Ppg Industries Inc (PPG). Each share pays $2.78 per year in dividends, so the position starts out generating roughly $212 per year — about $18 a month.
PPG is the larger income stream from day one: $122 per year more on the same $10,000 invested.
What could $10,000 of DOV or PPG income look like in 10 years?
DOVER Corp (DOV) has raised its dividend about 1.0% a year over the past five years. If that pace held, the $90 per year that $10,000 generates today at the current 0.90% yield would reach $99 per year by 2036 — a 1.0% yield on the original cost.
Ppg Industries Inc (PPG) has raised its dividend about 5.3% a year over the past five years. If that pace held, the $215 per year that $10,000 generates today at the current 2.15% yield would reach $361 per year by 2036 — a 3.6% yield on the original cost.
On those trailing rates, PPG pays more in 2036: $361 versus $99 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would DOV's dividend growth overtake PPG's higher yield?
It doesn't, on the trailing numbers. Ppg Industries Inc (PPG) yields more today (2.15% vs 0.90%) and has also grown its dividend at least as fast (5.3% vs 1.0% a year over five years). Unless DOV accelerates its raises or PPG stumbles, DOV never closes the income gap — PPG wins on both current income and growth.
Can DOV and PPG afford their dividends?
DOVER Corp (DOV) earns $7.98 per share against $2.08 paid out in dividends — 3.8x coverage (a 26% payout ratio).
Ppg Industries Inc (PPG) earns $6.92 per share against $2.78 paid out in dividends — 2.5x coverage (a 40% payout ratio).
DOV's wider coverage leaves more cushion if earnings dip. As a rule of thumb, coverage below about 1.5x (a payout ratio above ~65%) is where a dividend starts to look stretched — worth watching for PPG if earnings weaken.
Which fits an early-retirement income portfolio better, DOV or PPG?
For income you need right now, Ppg Industries Inc (PPG) leads: $100,000 invested today pays about $179 a month at the current 2.15% yield, versus $75 a month from DOVER Corp (DOV) at 0.90%.
PPG also leads on dividend growth (5.3% vs 1.0% a year over five years), so the trailing numbers favor it on both fronts.
On consistency: DOV has raised its dividend 41 consecutive years; PPG has raised its dividend 42 consecutive years.
Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.
$10,000 with DRIP: projected annual income
If each holding keeps raising its dividend at its real 5-year rate and every payment is reinvested, a $10,000 position pays $109/yr in DOV vs $447/yr in PPG by year 10.
Assumes dividends are reinvested at the current yield and grow at each holding's trailing 5-year dividend CAGR. A projection, not a prediction — no price appreciation modeled.
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