Buying well-run businesses operating in massive industries is a formula for success as a dividend growth investor. That's because huge addressable markets allow for quality companies to find ways to continue growing their sales and profits, which can also lead dividends upward over time.

Having recently boosted its quarterly dividend per share by 10% to $2.09, the leading home improvement retailer known as Home Depot (NYSE: HD) is a no-brainer pick for investors seeking growing passive income. Here are three reasons why.

Given the $157 billion in sales that analysts expect for the current fiscal year, Home Depot commands around 16% of the $1 trillion North American home improvement retail market. For context, that is significantly more than Lowe's (NYSE: LOW) roughly 10% market share.

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Source Fool.com