Much has been made in the financial media this year about the world-altering potential of artificial intelligence (AI). In fact, AI has been a key driver behind the growing popularity and market-beating performance of passively managed exchange-traded funds (ETF) like the Vanguard Growth Index Fund (NYSEMKT: VUG), or VUG for short. Buoyed by its stake in top AI firms like Nvidia, , and Adobe, the VUG has delivered total returns of 39% this year, easily outpacing the 19.3% total return for the S 500 over the same period.

However, this high-tech ETF has been solidly outperformed by a lesser-known Dividend King (a company that has raised its dividend for at least 50 years) in 2023. Matter of fact, this blue-chip dividend payer has been delivering market-crushing returns for well over a decade at this point. Here is a brief overview of this supercharged dividend stock and why it may have even more room to run in 2024 and beyond.

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Source Fool.com