2 Stocks With Double-Digit Dividend Growth

Posted On December 13, 2019 1:02 pm
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

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

Tagged with: growth stocks

About author

Dividend Sensei

I'm an Army veteran and former energy dividend writer for The Motley Fool. I'm a proud co-founder of Wide Moat Research, Dividend Kings, and the Intelligent Dividend Investor. My work can be found on Seeking Alpha, Dividend Kings, iREIT, and the Intelligent Dividend Investor. My goal is to help all people learn how to harness the awesome power of dividend growth investing to achieve their financial dreams and enrich their lives. With 24 years of investing experience, I've learned what works and more importantly, what doesn't, when it comes to building long-term wealth and income streams and achieving long-term financial goals.