DOV vs WMT: Dividend Comparison
Dividend data as of
DOVER Corp (DOV) from Industrials and Walmart Inc. (WMT) from Consumer Staples offer different dividend profiles for income-focused portfolios. Both stocks offer similar yields — DOV at 0.90% and WMT at 0.72%. For dividend growth, WMT leads with a 5-year CAGR of 6.4% versus DOV's 1.0%. Both stocks carry a "Safe" dividend safety rating. Both are classified as Dividend Aristocrats.
Verdict
Yield Analysis
DOV yields 0.18% more than WMT. In dollar terms, DOV pays $2.08/share vs WMT's $0.91/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%).
WMT: Dividend growth is accelerating — the 3-year CAGR of 11.2% exceeds the 5-year rate of 6.4% and the 10-year rate of 3.9%.
Dividend Safety
DOV: The payout ratio of 26% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 3.8x.
WMT: The payout ratio of 32% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 3.1x.
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in DOV vs WMT 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 $133.79 per share, $10,000 buys about 74.7 shares of Walmart Inc. (WMT). Each share pays $0.91 per year in dividends, so the position starts out generating roughly $68 per year — about $6 a month.
DOV is the larger income stream from day one: $22 per year more on the same $10,000 invested.
What could $10,000 of DOV or WMT 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.
Walmart Inc. (WMT) has raised its dividend about 6.4% a year over the past five years. If that pace held, the $72 per year that $10,000 generates today at the current 0.72% yield would reach $134 per year by 2036 — a 1.3% yield on the original cost.
On those trailing rates, WMT pays more in 2036: $134 versus $99 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would WMT's dividend growth overtake DOV's higher yield?
Walmart Inc. (WMT) yields less today (0.72% vs 0.90%) but has grown its dividend faster — 6.4% vs 1.0% a year over the past five years. If both trends continued, a $10,000 position in WMT would start out-earning the same position in DOV around 2031 (roughly 5 years from now), paying about $98 per year at the crossover. Before that point, DOV pays more each year; after it, the gap compounds in WMT's favor.
Can DOV and WMT 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).
Walmart Inc. (WMT) earns $2.86 per share against $0.91 paid out in dividends — 3.1x coverage (a 32% 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 WMT if earnings weaken.
Which fits an early-retirement income portfolio better, DOV or WMT?
For income you need right now, DOVER Corp (DOV) leads: $100,000 invested today pays about $75 a month at the current 0.90% yield, versus $60 a month from Walmart Inc. (WMT) at 0.72%.
With a decade or more before the income is needed, WMT's faster dividend growth (6.4% vs 1.0% a year) matters more than the starting yield — raises compound into the larger paycheck over time.
On consistency: DOV has raised its dividend 41 consecutive years; WMT has raised its dividend 43 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 $144/yr in WMT 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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