Income-seeking investors have to make an important choice when shopping for stocks to buy. Shares of companies that are likely to raise their dividend payouts at a rapid pace tend to offer low yields upfront. On the other hand, stocks generally don't offer high yields unless investors feel there's a low chance the underlying business will raise earnings and in turn their payouts.

Right now, (NYSE: PFE) and Altria Group (NYSE: MO) stand out among dividend stocks. Both have raised their payouts every year for over a decade. Plus, they offer yields above 6% at the moment, and there's a good chance they'll keep raising their payouts over the long run.

Shares of Pfizer have fallen about 36% over the past 12 months largely because sales of its COVID-19 products fell much faster than expected. Sales of Comirnaty, its COVID-19 vaccine, fell by $26.6 billion last year. Sales of Paxlovid, its antiviral treatment, fell by $17.7 billion in 2023.

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Source Fool.com