AvalonBay Communities (NYSE: AVB) and Public Storage (NYSE: PSA) have been rather stingy in recent years. The real estate investment trusts (REITs) last increased their dividends quite a while ago. However, both recently boosted their payouts.

That dividend growth is noteworthy given the historical outperformance of companies that increase their payouts. According to data by Ned Davis Research and Hartford Funds, dividend growers and initiators have delivered an average annual return of 10.7% over the last 50 years. That has outpaced companies with no change in their dividend policy (7.1% average annual total return) and the equal-weighted return of the S&P 500 (8.2%). 

Here's a look at their dividends and whether these companies can continue to push their payouts higher in the future.

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Source Fool.com