Could These Three Passive Income Stocks Become Dividend Kings In The Near Future?

Like the early bird that always rises early to get the proverbial worm, passive income investors perpetually hunt for stocks that generate income through dividend payments. That said, not all dividend stocks are created equally. Some stocks pay and then increase dividend payouts so consistently that they achieve dividend king status. Investment writer Rick Orford recently profiled three stocks that have the potential to become dividend kings.    

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Dividend king status is a significant corporate achievement because the standard for attaining the crown is high. A company can only achieve dividend king status by paying shareholders an increasing dividend every year for at least 50 consecutive years. It's rare for companies to last 50 years, but paying out an increasing dividend through five decades of up-and-down economic cycles doesn't happen by accident. 

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McDonalds (NYSE: MCD) 

Few companies in American history can match McDonald's in terms of longevity, name recognition and market share. It has become as much of a symbol of American life as any brand and made a ton of money for its shareholders in the process. It is the undisputed fast-food champion with a global reach that perhaps only Coca-Cola can match. 

McDonald's has already achieved dividend aristocrat status by its market cap, membership in the S&P 500 and 48 consecutive years of increasing dividends. That means Gerald Ford was president the last time this hamburger giant cut shareholder dividends. McDonald's shares are currently trading at $292.63 and paying a 2.37% dividend. If they can improve on that for two more years, Micky D's will be a dividend king (see stock ticker link above). 

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Pentair (NYSE: PNR) 

Pentair is a water treatment and sustainable resource company whose products are in demand worldwide. They help clients purify and conserve their water supply. As droughts and extreme weather conditions worsen due to climate change, the importance of maintaining adequate clean water stores will increase dramatically.

Pentair also offers several retail and commercial water sustainability and purification options, including filtration systems for commercial and residential applications and pool equipment. That means Pentair has a future providing products for customers big and small. The company may not be a household name, but it has quietly hit a 49th consecutive year of paying out increased dividends. 

Benzinga's stock ticker shows Pentair shares are trading at $105.92 and paying a 0.87% dividend. It's not a huge dividend, but Pentair's most recent earnings report exceeded expectations and many analysts expect the payout to increase in the next quarter.

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Carlisle Companies (NYSE: CSL) 

The Carlisle Companies are one of those stocks you may not be familiar with although you may have already been exposed to one of their products. This company makes weather-resistant, energy-efficient building and construction materials. That means you may already be working or living in a building made using Carlisle Companies components and products. 

Weather resistance and energy efficiency are becoming more important to commercial builders and private homeowners, which means the Carlisle Companies should be well-positioned for continued growth. The latest data from Benzinga shows Carlisle shares trading at $445.34. In August, the company announced it would increase its dividend by 18% to $4 per share. The announcement also marked Carlisle's 48th consecutive year of paying an increased dividend. 

There is no guarantee any of these stocks will become dividend kings. However, there is no guarantee a dividend king will remain one. All it takes is one year without a dividend increase for a company to lose king status, which it can't regain for 50 years. It may still be a good stock even without the crown. So, consider the entire picture before investing, not just dividend king status. 

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