These Dividend Stocks Can Double Your Money in Under 7 Years

Dividend-paying stocks are proven moneymakers. Over the last 50 years, the Dividend payers in the S 500 have delivered an average annual total return of 9.2%, according to data from Ned Davis Research and Hartford Funds. That has outperformed an equal-weighed S 500 index (7.7% average annual return).

Dividend initiators and growers have produced even higher total returns (10.2% annualized). That's roughly the rate an investor needs to double their money in seven years using the rule of 72. The simple formula divides 72 by the expected rate of return to determine how long it would take for an investment to double in value at that level of return. In the case of dividend growth stocks, it would take about seven years to double an investor's money (72/10.2=7).

Brookfield Asset Management (NYSE: BAM), Crown Castle (NYSE: CCI), and Enbridge (NYSE: ENB) are three dividend growth stocks with a high probability of delivering the double-digit annual returns needed to double their investor's money by 2030.