For a dividend to double in five years, a company would need to raise its quarterly payments by an average of just under 15% per year. That's a fairly high rate of increase that not many companies can sustain. And that's what makes the stocks here listed so special: They have doubled their dividend payments in just a five-year span.

Thermo Fisher Scientific (NYSE: TMO) and FedEx (NYSE: FDX) are businesses with solid financials that have been making generous dividend hikes in recent years. But can income investors expect these types of increases to continue?

Thermo Fisher is a top healthcare company that generates revenue from diverse revenue streams, including laboratory products, diagnostics, life sciences solutions, and analytical instruments. The business has done an excellent job of growing via acquisitions and adapting to changing situations (e.g., offering COVID-19 tests) to expand its top and bottom lines over the years.

Continue reading

Source Fool.com