Two Mid-Cap Dividend Kings Shine with Growth and Stability

Northwest Natural Holding (NYSE: NWN) and The Marzetti Company (NASDAQ: MZTI) are two mid-cap Dividend Kings with long histories of increasing dividends and stable financials. Northwest Natural, based in Oregon, has expanded its operations through strategic acquisitions, including the $427 million purchase of SiEnergy Natural Gas in 2025. This move has diversified its customer base beyond the Northwest, with its water and wastewater division now serving 80,000 customers across multiple states. The company has raised its dividend for 70 consecutive years and recently reached a 52-week high of $53.66 on March 30, 2026. Northwest Natural's predictable cash flow is supported by a three-year rate plan in Washington, which includes $20.1 million in revenue increases for 2026. In 2025, the company reported a 36.4% increase in earnings per share (EPS) to $2.77, with 11.1% growth in customer connections. It projects 2026 EPS of $2.95 to $3.15, reflecting a potential 10.1% increase at the midpoint. Meanwhile, Marzetti, a specialty food company, has also shown resilience. The company, formerly known as Lancaster Colony, has a debt-free balance sheet and a 63-year streak of dividend increases, including a 5% raise in 2025. Marzetti's recent acquisition of Bachan's, a Japanese barbecue sauce brand, for $400 million highlights its aggressive brand expansion strategy. Through the second quarter of fiscal 2026, the company reported $1.01 billion in revenue, a 3.6% year-over-year increase, and EPS of $3.86, up 13.5% compared to the same period in 2025. Both companies offer attractive dividend yields—3.69% for Northwest Natural and 2.9% for Marzetti—backed by solid earnings growth and strategic acquisitions. Their strong financial positions and consistent dividend histories make them appealing to investors seeking stable, income-generating investments in a challenging economic environment.