$1,000 Invested in These 3 Dividend Stocks Could Make You Rich

There are lots of get-rich-quick schemes out there. Unfortunately, most lose their investors' money rather than make them rich. A far better approach is to take things slow and grow your wealth over time.

A great way to do that is to invest in dividend stocks, which can be very enriching investments over the long term. The average dividend payer in the S 500 index has delivered a 9.2% average annual total return over the last 50 years, according to Ned Davis Research and Hartford Funds. That has outperformed the 7.7% average annual total return of an equal-weight S 500 index. It's also worth noting that the best returns have come from dividend growers and initiators. This sub-group has delivered a 10.2% average annual total return, significantly outperforming companies with no change to their dividend policies (6.6% average annual total return).

As far as enriching dividend growth stocks go, Chevron (NYSE: CVX), Coca-Cola (NYSE: KO), and (NYSE: MDT) are among the cream of the crop. This trio has delivered decades of dividend growth, which should continue in the future. A $1,000 investment in these stocks could grow into a much larger future payday.

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Source Fool.com