When first starting out as a dividend growth investor, it can sometimes seem frustrating seeing just a few dollars at a time trickle into your brokerage account via dividends. But the maxim of slow and steady wins the race can be applied to many areas of life, and especially to investing.

The beauty of dividend growth investing is that it can yield impressive results. The consumer staple company Procter & Gamble (NYSE: PG) has delivered 8% average annual dividend growth to shareholders over the last 20 years. As a powerful example of compounding in action, this has turned every $1 of initial dividend income into $4.67 of dividend income, without even considering dividend reinvestment.

I believe that the company will be able to generate nearly as much dividend growth on behalf of shareholders for the next 10 to 20 years. Let's dig into P&G's fundamentals and valuation to better understand why the stock is a buy for dividend growth investors.

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Source Fool.com