Dividend stocks can be a crucial part of a balanced portfolio. However, not just any dividend stock will do.

The best dividend-paying companies have reliable cash flows and a track record of growing dividend payouts. These stocks can provide a good source of income, making them excellent for retirees.

One no-brainer dividend stock on my radar is Federal Realty Investment Trust (NYSE: FRT). The real estate company has a lot going for it, most notably its impressive, multidecade history of growing its dividend payout. Here's the secret sauce that makes this stock a solid investment.

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Source Fool.com