Best Dividend Growth Stocks to Maximize Your Returns - 2024
Investing in dividend stocks is a proven strategy for generating steady income, but when you focus on dividend growth stocks, you open the door to even greater financial potential. Dividend growth stocks are companies that not only pay regular dividends but also consistently increase those payouts over time. This growth is a key indicator of financial health and long-term stability, making these stocks especially attractive for investors who are looking to build wealth while still enjoying passive income. As dividends increase, your return on investment grows, creating a compounding effect that can significantly boost your portfolio’s value. We’ll dive into a list of top dividend growth stocks that offer both reliable income and the potential for long-term capital appreciation.
| Stock | Dividend Yield | Pay-out Ratio | P/E Ratio | P/B Ratio | ROE | 5y Dividend Growth | 10y Dividend Growth |
|---|---|---|---|---|---|---|---|
| UnitedHealth | 1.41% | 51.26% | 1.34% | 0.20% | 0.16% | 0.00% | 0.00% |
| Paychex | 2.62% | 79.29% | 31.01% | 13.68% | 0.46% | 9.68% | 17.33% |
| Lithia Motors | 0.53% | 7.02% | 13.17% | 1.59% | 0.12% | 10.99% | 17.28% |
| MarketAxess | 1.12% | 40.38% | 35.52% | 7.14% | 0.21% | 11.38% | 18.67% |
| Caterpillar | 1.33% | 24.61% | 18.42% | 10.14% | 0.58% | 8.80% | 11.26% |
| NextEra Energy | 2.62% | 59.48% | 23.24% | 3.23% | 0.14% | -15.88% | -3.39% |
| Albemarle | 1.49% | -14.36% | -6.76% | 1.24% | -0.18% | 3.61% | 5.24% |
| Linde | 0.90% | 40.92% | 34.50% | 5.62% | 0.16% | 9.10% | 7.83% |
| West Pharmaceutical Services | 0.25% | 11.73% | 46.60% | 8.46% | 0.18% | 6.20% | 1.40% |
| Ecolab | 0.92% | 32.16% | 34.50% | 8.25% | 0.25% | 5.03% | 8.39% |
| Roper Technologies | 0.54% | 21.26% | 40.52% | 3.23% | 0.08% | 10.60% | 18.62% |
| General Dynamics | 1.96% | 41.22% | 21.42% | 3.39% | 0.17% | 7.54% | 12.00% |
| Atmos Energy | 2.19% | 47.27% | 21.81% | 1.87% | 0.09% | 8.85% | 7.86% |
| Cardinal Health | 1.65% | 39.27% | 23.52% | -9.06% | -0.38% | 1.10% | 5.38% |
| T. Rowe Price | 3.99% | 53.90% | 13.12% | 2.69% | 0.21% | 11.75% | 12.37% |
| Cintas | 1.09% | 33.66% | 55.59% | 22.65% | 0.40% | 43.56% | 15.04% |
| Amcor | 4.79% | 94.93% | 19.61% | 3.85% | 0.20% | 2.25% | 0.00% |
| Exxon Mobil | 3.26% | 47.99% | 15.62% | 1.96% | 0.14% | 2.64% | 4.11% |
| Aflac | 1.75% | 27.72% | 16.70% | 2.56% | 0.16% | 5.26% | 1.70% |
| Sherwin-Williams | 0.72% | 27.33% | 38.94% | 23.96% | 0.68% | -6.79% | 1.92% |
| Medtronic | 3.21% | 84.54% | 25.88% | 2.29% | 0.09% | 13.50% | 9.60% |
| McDonald's | 1.69% | 58.34% | 25.73% | -40.98% | -1.69% | 8.26% | 7.16% |
| Lowe's | 1.65% | 37.18% | 22.54% | -11.51% | -0.48% | 19.29% | 20.25% |
| Walmart | 0.88% | 33.23% | 37.79% | 8.44% | 0.23% | 1.85% | 1.95% |
| S&P Global | 0.70% | 32.01% | 45.78% | 4.78% | 0.10% | 12.47% | 12.39% |
| Nucor | 1.40% | 20.61% | 14.48% | 1.79% | 0.12% | 6.09% | 3.46% |
| PepsiCo | 2.43% | 75.99% | 23.98% | 11.54% | 0.49% | 6.63% | 8.24% |
| Abbott Laboratories | 1.85% | 65.30% | 35.72% | 5.18% | 0.15% | 12.74% | 13.80% |
| Becton Dickinson | 1.69% | 63.73% | 37.83% | 1.14% | 0.05% | 4.03% | 6.13% |
| AbbVie | 3.39% | 212.79% | 63.18% | 53.65% | 0.66% | 10.52% | 13.98% |
| W.W. Grainger | 0.66% | 22.58% | 32.44% | 16.94% | 0.55% | 6.37% | 7.36% |
| Illinois Tool Works | 2.06% | 48.42% | 23.69% | 24.13% | 1.12% | 8.77% | 12.98% |
| Target | 3.36% | 46.70% | 13.98% | 4.22% | 0.31% | 11.59% | 10.68% |
| Hormel Foods | 3.60% | 78.17% | 22.09% | 2.19% | 0.10% | 7.96% | 4.93% |
| Johnson & Johnson | 3.17% | 79.71% | 25.41% | 5.32% | 0.21% | 5.83% | 6.14% |
| Coca-Cola | 3.03% | 78.28% | 26.54% | 10.42% | 0.40% | 3.36% | 5.09% |