By: Dividend Sensei
One of the most exciting things about many dividend stocks is that they not only pay regular dividends but also increase those dividends on a regular basis. Better yet, some dividend stocks deliver rapid growth in their payouts.
Here are two companies — Stryker (NYSE:SYK) and Intuit (NASDAQ:INTU) — that have seen consistent double-digit dividend growth in recent years. For investors looking for sustainable and robust dividend growth in the years to come, medical device company Stryker and financial software-specialist Intuit are great options.
Stryker has seen strong dividend growth in recent years, with its dividend nearly doubling since 2014, rising from a quarterly payout of $0.30 to $0.575 today. The company most recently announced a dividend increase earlier this month.
Stryker said it would boost its dividend by 11%. The improved quarterly dividend translates to $2.30 in dividends paid per share every year, giving Stryker stock a dividend yield of 1.2%.
Stryker’s double-digit dividend growth is supported by robust financial results. In the company’s most recent quarter, Stryker’s revenue rose 10.6% year over year and its non-GAAP (adjusted) earnings per share jumped 13%.
Also boding well for sustained dividend growth is… Continue reading at The Motley Fool