Dividend stocks can make for great investments as they can be excellent sources of recurring income for your portfolio. And with Dividend growth stocks, there's also a strong possibility that the income you receive will increase over the years.

Two companies that have been increasing their payouts for decades and recently announced dividend rate hikes are Medtronic (NYSE: MDT) and Lowe's Companies (NYSE: LOW). Here's a closer look at these businesses and why there could be more rate hikes from them in the future.

Medical device maker Medtronic operates in over 150 countries, and patients rely on its products to help with over 70 different conditions. The strength and diversity of its operations have allowed Medtronic to generate strong financials, which have enabled the company to also offer investors an attractive dividend.

Continue reading

Source Fool.com