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Like a lot of investors, I appreciate the passive income streams that can come from owning dividend shares. A number of FTSE 100 shares have excellent track records not just of paying dividends, but of raising them year after year.
British American Tobacco has been doing that since the last century. Diageo has been raising its dividend annually for over 30 years. Meanwhile, Spirax (LSE: SPX) has grown its dividend every year for over half a century.
What I’m looking for now
Past performance is not necessarily a guide to what will happen in future, although I do feel that if business performance allows for it, most boards would be nervous about stopping the sort of long streak of growth in shareholder payouts achieved by these Dividend Aristocrats.
While I like Spirax’s business and would be happy to own the shares, I have no plans to buy them at the current valuation. The
