With markets rallying in recent months, it's no surprise that many investors are considering owning more dividend stocks. These investments tend look cheaper than their growth-focused counterparts right now even as they provide immediate income.

An ideal dividend stock brings several factors to the table, including a market leadership position, stellar finances, and decent sales growth. Income investors prize a long track record of annual dividend raises, too.

There's one stock that meets these criteria in spades. It also just announced a head-turning dividend hike for the 2024 calendar year. Let's look at why investors might want to take a closer look at (NYSE: WMT) as a dividend growth stock right now.

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Source Fool.com