In doing research on Ecolab’s dividend growth history for the company summary, I came across this statement on page 6 of its 2013 annual report:
“We increased our quarterly cash dividend rate for the 22nd consecutive year, raising it 20 percent in December to an indicated annual payout of $1.10 per common share. This represents Ecolab’s 22nd consecutive annual dividend rate increase.”
So why does S&P include them in the list of Dividend Aristocrats, which require 25 years of dividend
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