Investing in dividend stocks can be a great way to generate passive income and build wealth over time. But with so many choices available, it can be difficult to decide which ones to add to your portfolio. One dividend stock that I view as exceptional and well worth a closer look is Dick's Sporting Goods (NYSE: DKS). The American sporting goods retailer is a superb capital allocator, and has rewarded its shareholders with huge dividend growth.

Here are several reasons why investors looking for income may want to put Dick's at the top of their stock watch lists.

Alongside its announcement of record-setting 2022 results last week, the company surprised investors with a 105% increase to its dividend. Dick's new quarterly payout is $1 per share, which at the current stock price gives it an attractive dividend yield of 2.8%.

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Source Fool.com