In this article, we will take a look at some of the best high growth stocks that pay dividends.
Amid growing concerns about economic growth and President Trump’s tariffs, investors have been seeking safer investment options. In this environment, dividend stocks have gained significant traction, offering a defensive strategy while also providing steady passive income. Research from Ned Davis suggested that the tougher conditions facing the broader market this year could set the stage for dividend-paying stocks to perform well. The S&P Dividend Aristocrats Index, though it declined by over 8% in 2025 so far, is outperforming the wider market, which has fallen by more than 15% since the start of the year. Ned Davis’s Clissold and his team made the following comment about dividend investing in this environment:
“One would expect that companies that pay dividends are more stable and have lower growth rates. As a result, they should rally less in up markets and decline less in down markets. In other words, they have lower betas than non-dividend-payers. … As a group, dividend-payers have a beta of 0.99 versus 1.11 for nonpayers.”
Over the years, dividend stocks have proved their mettle because of strong balance sheets, stable businesses, and sound financials. These traits become even when important when the market is going through a rough stretch. Franklin Templeton noted that dividend-paying stocks are attractive because they help cushion market downturns while still offering strong growth potential. Over time and across different regions, dividend strategies have shown defensive characteristics. The report highlighted that from January 2022 through December 2024, these stocks experienced lower volatility and smaller declines than the broader market, whether looking globally, in the US, or across Europe. Notably, when concerns over inflation and rising interest rates flared up again in August, dividend stocks remained relatively resilient.
Considering the growing investor appetite for dividend stocks, more and more companies have initiated their dividend policy in recent times. Tech companies, which are usually associated with growth-oriented strategies, have also broached this territory and launched their dividends last year. They see dividends as a useful addition to share repurchase programs. While tech stocks currently offer relatively low dividend yields, the overall payouts are quite large—with J.P. Morgan projecting that just three major companies alone could return around $17 billion to shareholders over the coming year.
This trend marks an important development in the market. According to the report, the most promising dividend investments lie in “Compounders”—companies known for steadily raising their dividends over time. These firms, which make up nearly half of the strategy, are backed by consistent earnings growth. They not only offer dependable income but also form a strong base for achieving long-term outperformance in investment portfolios. Given this, we will take a look at some of the best high growth stocks that pay dividends.
Our Methodology
For this list, we screened for dividend stocks with sound financials and robust balance sheets. From that group, we picked companies that achieved positive revenue growth in the past five years. The final 10 picks are those with a five-year revenue growth rate exceeding 10%. The stocks are ranked in ascending order of their revenue growth rates.
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10. First Horizon Corporation (NYSE:FHN)
5-Year Revenue Growth: 10.82%
First Horizon Corporation (NYSE:FHN) is a Tennessee-based financial holding company that operates through three key divisions: Regional Banking, Specialty Banking, and Corporate. Recently, Baird upgraded the stock to Outperform from Neutral and maintained a $22 price target. The upgrade signals growing optimism about the company’s financial trajectory and the possibility of private market activity. Analysts noted that First Horizon’s solid market standing and overall financial strength present an attractive balance of risk and reward for investors, particularly if a private market deal materializes. Baird’s improved outlook is largely supported by the bank’s strong capital position and appealing valuation in the current market.
First Horizon Corporation (NYSE:FHN) delivered solid fourth-quarter results for 2024, posting $824 million in revenue—up 3% from the same period the year before. Despite facing a tough interest rate backdrop, the bank’s strong client relationships and balanced business model helped sustain earnings. Throughout the year, steady business growth was driven by a healthy net interest margin, an increase in counter-cyclical income, and lower net charge-offs. In the final quarter, the company saw a two-basis-point improvement in its net interest margin, a 6% boost in fixed income revenue, and net charge-offs held to just 8 basis points—setting the stage for a promising start to 2025.
First Horizon Corporation (NYSE:FHN) also remained committed to its shareholder obligation, returning $930 million to investors through dividends and share repurchases in the most recent quarter. The company pays a quarterly dividend of $0.15 per share and has a dividend yield of 3.56%, as of April 8. It is among the best growth stocks that pay dividends.
9. Thermo Fisher Scientific Inc. (NYSE:TMO)
5-Year Revenue Growth: 10.92%
Thermo Fisher Scientific Inc. (NYSE:TMO) is an American multinational biotech and life sciences company. It delivered better-than-expected results in the fourth quarter, reporting earnings of $6.10 per share on revenue of $11.40 billion—both figures surpassing Wall Street forecasts of $5.94 per share and $11.28 billion. Despite continued sluggishness in the biotech sector spending, the possibility of interest rate cuts could act as a catalyst by making funding more accessible.
For 2025, Thermo Fisher Scientific Inc. (NYSE:TMO) projects adjusted earnings between $23.10 and $23.50 per share, aligning with current market forecasts. As a well-established player in the healthcare and pharmaceutical space, Thermo Fisher offers investors a way to tap into sector growth without the added risk of patent cliffs or the pressure to deliver blockbuster drugs. Its earnings base is highly stable, with over 80% of revenue coming from recurring sources. In the past five years, it has raised its revenue by nearly 11%, which makes it one of the best high growth stocks that pay dividends.
In the latest quarter, Thermo Fisher Scientific Inc. (NYSE:TMO) maintained strong cash generation, with $3.3 billion in operating cash flow and $2.8 billion in free cash flow. Over the full year of 2024, the company returned $4.6 billion to shareholders through dividends and share repurchases. Currently, it offers a quarterly dividend of $0.43 per share, having raised it by 10% in February. This was the company’s eighth consecutive year of dividend growth. The stock supports a dividend yield of 0.40%, as of April 8.
8. ConocoPhillips (NYSE:COP)
5-Year Revenue Growth: 11.10%
ConocoPhillips (NYSE:COP) ranks eighth on our list of the best high growth dividend stocks. The American global energy company, based in Texas, is engaged in hydrocarbon exploration and production. The company has increased its capital spending to support major long-term initiatives. While this requires upfront investment, it’s still considered attractive for income-focused investors, as these projects are projected to generate an additional $6 billion in free cash flow—provided WTI crude prices remain near $70. On top of that, with the acquisition of Marathon Oil finalized in November, the company’s free cash flow potential could see significant growth in the years ahead.
In addition, ConocoPhillips (NYSE:COP) is a major player in hydrocarbon exploration and production. The company saw a significant boost in output during the fourth quarter of 2024. Production climbed 14.8% year-over-year to 2,183 MBOED, driven largely by strategic moves such as the acquisition of Marathon Oil. With a forward P/E ratio of 11x, the stock is viewed as one of the most attractively priced among hedge funds. The company’s revenue grew by over 11% in the past five years.
ConocoPhillips (NYSE:COP)’s financial position remained solid, generating $20.1 billion in operating cash flow over the year, with total cash from operations reaching $20.3 billion. The company continued to prioritize shareholder returns, distributing $3.6 billion in dividends. After a 34% hike in October, the quarterly dividend now stands at $0.78 per share. The stock’s dividend yield of 3.7%, as of April 8, is also attractive for income investors. Moreover, it has been growing its payouts consistently for 10 years.
7. Tractor Supply Company (NASDAQ:TSCO)
5-Year Revenue Growth: 12.25%
Tractor Supply Company (NASDAQ:TSCO) is an American farm supplies company that deals in home improvement and related equipment and supplies. In the fourth quarter of 2024, the company reported net sales of around $3.8 billion, marking a 3% year-over-year increase, supported by new store openings and improved comparable store sales. Earnings per share came in at $0.44, down 3% from the previous year, with both revenue and earnings slightly missing analyst estimates. Gross profit rose to $1.33 billion, up 2.8% from the prior-year period.
Tractor Supply Company (NASDAQ:TSCO) expanded its footprint in the pet care space through the acquisition of Allivet, a pet pharmacy business. This move complements its existing network of over 200 Petsense locations and a broad pet product offering in its core stores, providing another avenue for growth.
Tractor Supply Company (NASDAQ:TSCO) also demonstrated a strong cash position. The company ended the quarter with a healthy cash balance of roughly $252 million. For the full year, operating cash flow reached $1.4 billion, enabling the return of $472.5 million to shareholders through dividends. Additionally, the Board approved a $0.04 increase to its annual dividend—up 4.5% year over year—raising it to $0.92 per share for fiscal year 2025. A quarterly dividend of $0.23 per share was also declared, marking the company’s 16th consecutive year of dividend growth. As of April 8, the stock has a dividend yield of 1.89%.
6. Bristol-Myers Squibb Company (NYSE:BMY)
5-Year Revenue Growth: 13.06%
Bristol-Myers Squibb Company (NYSE:BMY) is a New York-based multinational pharmaceutical company that specializes in discovering and delivering innovative medicines. The company is steering its growth plans around a pipeline of innovative therapies, with a strong focus on its neuroscience treatment, Cobenfy. If ongoing clinical trials deliver favorable results, this drug could reshape the company’s future financial performance.
Bristol-Myers Squibb Company (NYSE:BMY)’s balanced approach—combining a solid dividend policy with strategic expansion—has positioned it as a compelling option for income-focused investors. In 2024, the approval of Cobenfy and Breyanzi are expected to be multi-billion-dollar revenue drivers moving forward. In the fourth quarter of 2024, the company’s Growth Portfolio generated $6.4 billion in revenue, reflecting a 21% year-over-year increase fueled by robust demand. Total revenue for the quarter came in at $12.34 billion, representing a 7.5% annual increase. In the past five years, the company’s revenue growth came in at over 13%, which makes it one of the best high growth stocks that pay dividends.
Bristol-Myers Squibb Company (NYSE:BMY)’s dividend-paying streak currently spans 93 years. The company also maintains a 16-year track record of dividend growth. It offers a quarterly dividend of $0.62 per share and has a dividend yield of 4.66%, as of April 8.
5. Eli Lilly and Company (NYSE:LLY)
5-Year Revenue Growth: 15.08%
Eli Lilly and Company (NYSE:LLY) ranks fifth on our list of the best high growth stocks that pay dividends. The American multinational pharmaceutical company offers a wide range of related services and products to its consumers. The company offers a quarterly dividend of $1.50 per share and has a dividend yield of 0.82%, as of April 8. It holds one of the strongest dividend policies in the market, having paid regular dividends for 139 consecutive years and growing its payouts for 11 years in a row.
A major drug that investors will be watching closely this year is orforglipron, a once-daily oral treatment being developed by Eli Lilly and Company (NYSE:LLY) for weight loss and other health conditions. While early trial data has shown promise, the upcoming results from phase 3 studies—expected in the coming months—will be crucial in determining the drug’s chances of gaining regulatory approval.
Throughout the year, Eli Lilly plans to release data from several phase 3 trials assessing orforglipron’s effectiveness in treating diabetes, obesity, and sleep apnea. The first of these studies is projected to wrap up in April.
In the fourth quarter of 2024, Eli Lilly and Company (NYSE:LLY) reported a significant revenue jump of 45% year-over-year, reaching $13.53 billion, driven by strong demand for Mounjaro and Zepbound. Earnings per share more than doubled, increasing by 102% to $4.88. The company also continued strengthening its product pipeline, gaining U.S. approval for Zepbound as a treatment for moderate-to-severe obstructive sleep apnea in adults with obesity, as well as approval for Omvoh to treat moderately to severely active Crohn’s disease. It is one of the best high growth stocks to buy as the company has grown its revenue by over 15% in the past five years.
4. S&P Global Inc. (NYSE:SPGI)
5-Year Revenue Growth: 16.23%
S&P Global Inc. (NYSE:SPGI) is an American capital market company that mainly offers services in financial information and analytics. In the fourth quarter of 2024, the company reported a 14% rise in revenue compared to the same period last year, while adjusted earnings per share grew 20% to $3.77. It further boosted investor sentiment with a positive forecast for the coming year and unveiled a fresh share buyback initiative. Revenue from the Ratings division jumped 31% year-over-year, driven by increased activity not just in traditional investment-grade and high-yield bonds but also in other loan segments and structured finance products—broadening the company’s revenue mix.
S&P Global Inc. (NYSE:SPGI) generates a significant portion of its earnings through subscriptions, with more than 75% of its revenue coming from recurring sources. This model provides a cushion against market fluctuations, especially in the debt issuance sector, where the credit ratings arm plays a central role. Meanwhile, its Market Intelligence division, which offers financial analytics and data, along with the Indices and Commodity Insights businesses, add to the company’s reliable revenue stream.
S&P Global Inc. (NYSE:SPGI) also demonstrated a strong cash position. For full-year 2024, operating cash flow climbed to $5.7 billion, up from $3.7 billion in 2023, while free cash flow increased to $5.27 billion from $3.2 billion the year before. This financial strength allowed it to return $1.1 billion to shareholders through dividends. Currently, it offers a quarterly dividend of $0.96 per share for a dividend yield of 0.86%, as of April 8. The company maintains a 53-year streak of dividend growth.
3. Broadcom Inc. (NASDAQ:AVGO)
5-Year Revenue Growth: 19.19%
Broadcom Inc. (NASDAQ:AVGO) is an American semiconductor company that offers a wide range of semiconductor and infrastructure software products. The company stands out from other semiconductor companies due to its unique combination of a fast-growing AI segment, a well-established networking business, and a vast infrastructure software division, which it expanded through the acquisition of VMware. The company’s semiconductor division offers a wide range of solutions, including networking, server storage, broadband, wireless, and industrial products, serving enterprise clients, hyperscale data centers, and residential customers.
In the first quarter of 2025, Broadcom Inc. (NASDAQ:AVGO) reported a revenue of $14.9 billion, which showed a 24.7% growth from the same period last year. The revenue beat analysts’ estimates by $325.2 million. The company’s revenue and adjusted EBITDA were fueled by strong performance in both AI semiconductor solutions and infrastructure software. During the quarter, AI revenue surged by 77% year-over-year to reach $4.1 billion, while infrastructure software revenue increased by 47% year-over-year, totaling $6.7 billion.
Broadcom Inc. (NASDAQ:AVGO)’s cash position also remained strong. It generated over $6.1 billion in operating cash flow, and its free cash flow amounted to over $6 billion. The free cash flow represented 40% of the company’s revenue. During the quarter, it returned $2.77 billion to shareholders through dividends, highlighting its commitment to shareholders. Currently, it pays a quarterly dividend of $0.59 per share and has a dividend yield of 1.49%, as of April 8.
2. Realty Income Corporation (NYSE:O)
5-Year Revenue Growth: 28.82%
Realty Income Corporation (NYSE:O) is a California-based real estate investment trust company that invests in single-tenant commercial properties across the US. The company owns a portfolio of 15,600 properties, with nearly 80% of them leased to well-known retailers like Dollar Tree, 7-Eleven, and Walgreens. Additionally, grocery and convenience stores make up 20% of the company’s holdings. This expanding portfolio plays a significant role in supporting its dividend policy.
For the fourth quarter of 2024, Realty Income Corporation (NYSE:O) reported strong performance, with revenues rising 24.4% year-over-year to $1.34 billion. Its Adjusted Funds From Operations (AFFO) per share increased by 4% to $1.05, marking the 14th consecutive year of AFFO growth. In the past five years, the company managed to grow its revenue by nearly 30%, which makes it one of the best high growth stocks that pay dividends.
Realty Income Corporation (NYSE:O) is known for its reliable monthly dividends, currently offering $0.2685 per share, a 0.2% increase from March. This marks the company’s 130th dividend increase since its IPO in 1994. As of April 8, the stock has an attractive dividend yield of 6.08%.
1. VICI Properties Inc. (NYSE:VICI)
5-Year Revenue Growth: 33.88%
An American real estate investment trust company, VICI Properties Inc. (NYSE:VICI) invests in casinos and other entertainment properties across the US and Canada. The company utilizes a net lease model, where tenants are responsible for most of the property-related costs. This benefits both parties: VICI reduces its expenses and minimizes risks associated with rising operating costs, while its casino tenants maintain operational control over key assets in their businesses.
For the fourth quarter of 2024, VICI Properties Inc. (NYSE:VICI) reported a 4.7% increase in revenue, totaling $976 million. However, net income available to common stockholders declined by 17.8% year-over-year to $614.6 million, with earnings per share falling 19.2% to $0.58. This decrease was largely due to changes in the CECL allowance for the quarter ending December 31, 2024. Additionally, the company entered into a new partnership with Indigenous Gaming Partners (IGP) as part of IGP’s acquisition of PURE Canadian Gaming’s assets, which included amendments to the existing master lease.
On March 6, VICI Properties Inc. (NYSE:VICI) declared a quarterly dividend of $0.4325 per share, maintaining the same payout as previous quarters. This marks another year of dividend increases since its IPO in 2018. The company’s strong cash position supports this growth, with $524.6 million in cash and cash equivalents at the end of FY24. In Q4 2024, it returned $456.7 million to shareholders through dividends. The stock supports a dividend yield of 5.82%, as of April 8.
Overall, VICI Properties Inc. (NYSE:VICI) ranks first on our list of the best high growth stocks that pay dividends. While we acknowledge the potential of VICI as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than VICI but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the dirt cheap dividend stock.
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