A stock that grows its dividend can be a valuable asset in your portfolio. That's because its rising dividend payment will help offset the effects of inflation, and it means more cash for your portfolio.

Dividend increases aren't a guarantee, but you can often narrow down when a company is likely to announce an increase. Three dividend stocks to watch in March for a possible rise in their payouts include Innovative Industrial Properties (NYSE: IIPR), CareTrust REIT (NYSE: CTRE), and Colgate-Palmolive (NYSE: CL).

Let's dive in and see what that could mean for investors.

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Source Fool.com