3 Dividend Growth Stocks That Have Doubled Their Payouts in 5 Years
If you're a dividend investor, you shouldn't bother with stocks that don't raise their payouts. Inflation has drastically chipped away at consumers' purchasing power in recent years, highlighting just how important it is for dividend income to rise over the long run. dividend growth can be extremely valuable for investors, even if a stock doesn't appear to be offering a high yield today. If a business is growing and its dividend income is rising, investors can still be generating significant recurring income down the road.
Three stocks that don't offer the highest yields today but have solid growth prospects and have been raising their payouts at a high rate are Eli Lilly (NYSE: LLY), Broadcom (NASDAQ: AVGO), and Mastercard (NYSE: MA). Here's why you'll want to consider these stocks, not for just their growth prospects, but for their dividend payments as well.
These days, Eli Lilly is popular with investors for its diabetes and weight loss medications, Mounjaro and Zepbound. And there's good reason for that, as the market for anti-obesity treatments is massive, potentially topping $100 billion. There's significant money to be made there, and Eli Lilly is establishing itself as a major player in that space.
Source Fool.com