In some ways, (NASDAQ: FAST) is an incredibly boring industrial company. In other ways, it's quite exciting. However you view it, though, there's one thing it has done for investors amazingly well: grow its dividend. Over the past decade, for example, the payout has increased at an annual rate of 14%. That's huge, but here are some more reasons to like this no-brainer dividend growth stock.

Fastenal sells fasteners and other small parts and tools that industrial companies use to build their products. It is not a sexy business, but it is a reliable one since there's a near-constant need to replace used items.

For a long time, the company operated stores, which it still does, but it has been increasingly integrating into the businesses it serves. That can take the form of regular deliveries to a manufacturing site or even vending machines that a customer's employees use. 

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Source Fool.com