In this article, we will take a look at some of the best high growth stocks that pay dividends.
Dividend stocks have trailed the broader market over the past two years, largely due to investors favoring AI-focused companies. Still, experienced investors recognize the long-term value of dividend-paying stocks, supported by their strong historical performance. Short-term trends don’t diminish their importance. In fact, dividends have historically played a major role in total returns, accounting for about 31% of the broader market’s monthly total return from 1926 through February 2025, according to S&P Dow Jones Indices.
Dividend stocks have been performing well this year, even as broader markets faced turbulence. Wall Street took a hit recently amid rising fears about the economic fallout from President Donald Trump’s expanding trade war. The three major US indexes posted sharp declines, wiping out much of the prior session’s gains, as escalating tensions between the US and China overshadowed positive economic reports and progress in trade talks with Europe. The S&P index is down by over 8% since the start of 2025, whereas the tech-heavy NASDAQ has declined by over 13%. On the other hand, the Dividend Aristocrats Index, which tracks the performance of companies with 25 consecutive years of dividend growth, has recorded a decline of nearly 3%.
This highlights how dividend stocks tend to perform more steadily during market downturns—a trend backed by historical data. S&P Dow Jones Indices reports that, over time, the Dividend Aristocrats have delivered stronger risk-adjusted returns than the broader market, with lower volatility. These stocks have offered solid downside protection, outperforming the S&P index in about two-thirds of the market’s down months and roughly 44% of its up months. They’ve also experienced smaller drawdowns compared to the overall index, reinforcing their defensive appeal. In addition, during market downturns, the Dividend Aristocrats delivered an average excess return of 0.87% over the broader market. From December 29, 1989, to February 28, 2025, these stocks showed a market beta of 0.8, indicating lower volatility and stronger resilience compared to the overall market.
Analysts pointed out that the historical performance of dividend equities continues to shape a favorable outlook for the current year. A recent report from J.P. Morgan suggested that global equities may be entering a strong phase of dividend growth—driven not only by a cyclical rebound in payouts but also by a sustained structural momentum. While global dividends per share have grown at an average annual rate of 5.6% over the past two decades, projections now indicate an acceleration to 7.6% in the coming years.
The report emphasized that the most promising opportunities in the dividend space lie with so-called “Compounders”—companies with a consistent track record of increasing dividends over time, backed by solid earnings growth. Nearly half of the strategy focuses on these firms, which are also seen as powerful contributors to alpha generation within investment portfolios. Given this, we will take a look at some of the best high growth stocks that pay dividends.
Photo by Artem Beliaikin on Unsplash
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 and dividend growth streaks of at least 10 years. The final 10 picks are those with a five-year revenue growth rate exceeding 5%. The stocks are ranked in ascending order of their revenue growth rates.
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10. NextEra Energy, Inc. (NYSE:NEE)
5-Year Revenue Growth: 5.21%
NextEra Energy, Inc. (NYSE:NEE) is an American renewable energy company, headquartered in Florida. The company mainly generates, transmits, and sells electricity. It posted mixed results for the fourth quarter of 2024. While its adjusted earnings per share of $0.53 matched market forecasts, revenue came in at $5.39 billion—down 21.7% year-over-year and falling short of expectations by $2.53 billion. Still, the company managed to grow its full-year 2024 adjusted EPS by over 8% from the previous year. Since 2021, NextEra has maintained a compound annual EPS growth rate above 10%, the highest among the top 10 power producers.
Looking ahead, NextEra Energy, Inc. (NYSE:NEE) plans to invest around $120 billion across the US over the next four years, aiming to scale its total power generation capacity to approximately 121 gigawatts. A key part of NextEra’s strategy remains its clean energy segment, which operates under long-term contracts and delivers reliable cash flow. With demand for renewables on the rise, the company is also working to expand this segment, targeting an increase in renewable energy capacity from 36 gigawatts to 46.5 gigawatts by 2027.
NextEra Energy, Inc. (NYSE:NEE)’s cash position also makes it a reliable investment for income investors. The company generated an operating cash flow of $13.2 billion in FY24 and also plans to grow its dividend per share by around 10% annually through 2026. In February, it grew its quarterly dividend by 10% to $0.5665 per share, which marked its 29th consecutive year of dividend growth. As of April 13, the stock has a dividend yield of 3.44%. It is among the best high growth stocks to invest in.
9. Walmart Inc. (NYSE:WMT)
5-Year Revenue Growth: 5.38%
Walmart Inc. (NYSE:WMT) is an American retail corporation that operates a chain of hypermarkets, discount stores, and grocery stores across the country. The company has been drawing investor interest lately, as it appears more resilient to the latest wave of tariff-related uncertainty than many expected. Around two-thirds of its inventory spending goes toward products made in the US, offering some insulation from international trade pressures. While the remaining third of its merchandise costs are tied to imports from countries like Mexico and China—and some of its American suppliers also feel the effects of tariffs—the overall impact on Walmart is far from devastating. Despite the recent noise, the company remains on solid footing. In the past 12 months, the stock has surged by nearly 55%, and its YTD returns come in at over 3%.
In the fourth quarter of 2024, Walmart Inc. (NYSE:WMT) posted a 4.1% rise in revenue, reaching $180.6 billion, with constant currency growth coming in at 5.3%. The company’s operating income climbed 8.3%, thanks to stronger gross margins, increased membership revenue, and improved profitability in its e-commerce segment. Over the full year, Walmart generated $36.4 billion in operating cash flow and ended the year with $9 billion in cash and equivalents. It also returned $4.5 billion to shareholders through stock buybacks and announced a 13% hike in its quarterly dividend to $0.235 per share—the biggest dividend increase it has made in over ten years.
Walmart Inc. (NYSE:WMT), one of the best high growth dividend stocks, has been growing its payouts for 52 consecutive years. Currently, it offers a quarterly dividend of $0.235 per share and has a dividend yield of 1.01%, as of April 13.
8. Visa Inc. (NYSE:V)
5-Year Revenue Growth: 9.36%
Visa Inc. (NYSE:V) is a California-based payment card service company. It is often seen as a capital-light compounder, meaning it doesn’t need to invest heavily in physical assets to expand its business. Since its transaction-processing infrastructure is already in place, the company can continue growing without major capital outlays. With a market capitalization of $644 billion, Visa stands as a financial giant. Over the past five fiscal years, it has delivered compound annual growth rates of 9.4% in revenue and 12.8% in earnings per share. These growth trends are likely to continue in the years ahead, offering investors a steady path forward. The stock has surged by over 6% since the start of 2025.
In fiscal Q1 2025, Visa Inc. (NYSE:V) posted strong earnings, with revenues climbing to $9.5 billion — a 10% increase from the same period last year. During the quarter ending December 31, 2024, the company processed 63.8 billion transactions, reflecting an 11% year-over-year jump. Payment volume also rose by 9% on a constant-dollar basis.
Visa Inc. (NYSE:V) ended the quarter with more than $16 billion in cash and cash equivalents. Its operating cash flow surged to $5.4 billion, up from $3.6 billion a year earlier. The company also returned $5.1 billion to shareholders through dividends and share repurchases. Visa offers a quarterly dividend of $0.59 per share, with a yield of 0.71%, as recorded on April 13. With 16 consecutive years of dividend growth, V is one of the best high growth stocks that pay dividends.
7. Merck & Co. Inc. (NYSE:MRK)
5-Year Revenue Growth: 10.40%
Merck & Co. Inc. (NYSE:MRK) is an American multinational pharmaceutical company, based in New Jersey. It stands out as a major pharmaceutical company with a diverse portfolio of treatments, though its main focus is in oncology. Its top product, Keytruda, ranked as the world’s best-selling cancer drug last year. While US patent protection for Keytruda is set to expire in 2028, Merck is working on a new subcutaneous version of the drug, which could help prolong its market exclusivity into the 2030s.
Merck & Co. Inc. (NYSE:MRK) posted solid financial results in the final quarter of 2024, with revenue climbing 7% year-over-year to $15.6 billion. Over the full year, sales of Keytruda jumped 18%, totaling $29.5 billion. With expectations for the drug to bring in more than $35 billion annually by 2028—just before its patent runs out—the company continues to strengthen its leadership in the immunotherapy space.
Merck & Co. Inc. (NYSE:MRK) is also a solid dividend payer. It currently offers a quarterly dividend of $0.81 per share and has a dividend yield of 4.09%, as of April 13. It is one of the best high growth forever dividend stocks on our list as the company has been rewarding shareholders with growing dividends for the past 14 years.
6. Costco Wholesale Corporation (NASDAQ:COST)
5-Year Revenue Growth: 10.77%
Costco Wholesale Corporation (NASDAQ:COST) is an American retail company that operates membership-only big box warehouse club stores. The company experienced strong demand across various categories during the quarter, according to comments made by CFO Gary Millerchip during the company’s Q2 2025 earnings call. He noted that sales of gold and jewelry, gift cards, toys, housewares, appliances, sporting goods, home furnishings, and small electrics all saw double-digit growth.
Costco Wholesale Corporation (NASDAQ:COST) also benefited from continued customer loyalty, driven by its membership-based model. Despite broader economic uncertainty, membership grew 6.8% year-over-year in Q2, while the renewal rate remained exceptionally high at 93% in the US and Canada. Net sales rose by a strong 9.1%, with the bulk of the growth coming from a 6.8% increase in same-store sales, largely fueled by an uptick in customer visits. Notably, the company has seen its revenue growth accelerate for two consecutive quarters. In the past five years, its revenue surged by nearly 11%, which makes it one of the best high growth stocks that pay dividends.
Costco Wholesale Corporation (NASDAQ:COST) ended the quarter with over $12.3 billion available in cash and cash equivalents. The company’s operating cash flow came in at over $6 billion, up from $5.3 billion in the same period last year. This strong cash generation enabled the company to grow its payouts for 10 consecutive years. Currently, it offers a quarterly dividend of $1.16 per share and has a dividend yield of 0.48%, as of April 13.
5. AbbVie Inc. (NYSE:ABBV)
5-Year Revenue Growth: 11.11%
AbbVie Inc. (NYSE:ABBV) ranks fifth on our list of the best high growth forever dividend stocks. The American multinational pharmaceutical company has strengthened its portfolio in recent years through several key acquisitions, adding significant growth assets such as the cancer drug Elahere, the cosmetic treatment Botox, and the antipsychotic medication Vraylar.
AbbVie Inc. (NYSE:ABBV)’s development pipeline also shows promise, with more than 90 programs currently in clinical trials. Among them are advanced-stage candidates like lutikizumab for autoimmune conditions and etentamig for multiple myeloma.
In the fourth quarter of 2025, AbbVie Inc. (NYSE:ABBV) posted revenue of $15.1 billion, reflecting a 5.6% increase year-over-year and surpassing analyst forecasts by $14.87 billion. Although the company reported a slight GAAP net loss of $0.02 per share, its adjusted diluted earnings per share came in at $2.16, just above the projected $2.13. For the full year 2024, combined sales of Skyrizi and Rinvoq climbed 51% to $1.77 billion, driven by rising global demand and broader market reach.
AbbVie Inc. (NYSE:ABBV)’s quarterly dividend currently stands at $1.64 per share for a dividend yield of 3.75%, as of April 13. The company has rewarded shareholders with growing dividends for the past 52 consecutive years.
4. Tractor Supply Company (NASDAQ:TSCO)
5-Year Revenue Growth: 12.25%
Tractor Supply Company (NASDAQ:TSCO) is a Tennessee-based farm supplies company. It deals in home improvement and related equipment and supplies. The company is the largest rural lifestyle retailer in the US, with nearly 2,300 stores spread across 49 states, and has delivered consistent revenue growth from 2022 through 2024. While net income remained relatively flat over the past two years, free cash flow continued to rise steadily during the period.
In the fourth quarter of 2024, Tractor Supply Company (NASDAQ:TSCO) posted net sales of approximately $3.8 billion, reflecting a 3% year-over-year gain, aided by the opening of new locations and stronger same-store sales. Earnings per share came in at $0.44, a 3% dip compared to the previous year. Both revenue and earnings slightly lagged behind market expectations. Gross profit grew to $1.33 billion, up 2.8% from the year-ago quarter.
Tractor Supply Company (NASDAQ:TSCO) also maintained a solid financial footing, finishing the quarter with around $252 million in cash. For the full fiscal year, the company generated $1.4 billion in operating cash flow and returned $472.5 million to shareholders via dividends. The Board of Directors approved a 4.5% increase to the annual dividend, raising it by $0.04 to $0.92 per share for fiscal 2025. The company also declared a quarterly dividend of $0.23 per share, which marked the company’s 16th consecutive year of dividend growth. The stock supports a dividend yield of 1.78%, as of April 13.
3. Eli Lilly and Company (NYSE:LLY)
5-Year Revenue Growth: 15.08%
Eli Lilly and Company (NYSE:LLY) is an American multinational pharmaceutical company that offers a wide range of related services and products. The GLP-1 agonist market appears to be entering a transformative phase, presenting Eli Lilly with a significant opportunity to strengthen its position over the next year. Industry analysts project that annual sales for these in-demand treatments could reach as much as $150 billion by 2030. Currently, the space is largely controlled by just two major players—Novo Nordisk and Eli Lilly. According to estimates from Novo Nordisk, Eli Lilly currently holds about 34% of the market share.
One of the key treatments drawing investor attention this year is orforglipron, an oral, once-daily drug under development by Eli Lilly and Company (NYSE:LLY) for weight management and related health conditions. While initial trial results have been encouraging, the upcoming findings from phase 3 trials—due in the near future—will play a pivotal role in shaping the drug’s path toward potential regulatory approval.
Eli Lilly and Company (NYSE:LLY) is expected to publish data from several late-stage studies throughout the year, evaluating orforglipron’s impact on conditions such as diabetes, obesity, and sleep apnea. The first of these trials is anticipated to conclude in April.
Eli Lilly and Company (NYSE:LLY) is one of the best high growth dividend stocks as the company has raised its payouts for 11 years in a row. In addition, the company has never missed a dividend in 139 years. Its quarterly dividend currently sits at $1.50 per share for a dividend yield of 0.82%, as recorded on April 13.
2. S&P Global Inc. (NYSE:SPGI)
5-Year Revenue Growth: 16.23%
S&P Global Inc. (NYSE:SPGI), a US-based capital markets firm specializing in financial analytics and information services, delivered solid results in the fourth quarter of 2024. The company posted a 14% year-over-year increase in revenue, while adjusted earnings per share rose by 20% to $3.77. Management also lifted investor confidence by issuing an upbeat outlook for the year ahead and announcing a new share repurchase program. A key highlight was the Ratings division, which saw a 31% jump in revenue, fueled by stronger activity across investment-grade and high-yield bonds, as well as loans and structured finance instruments—diversifying the company’s earnings sources.
S&P Global Inc. (NYSE:SPGI) benefits from a subscription-based model, with over 75% of its revenue coming from recurring streams. This setup helps buffer its performance against fluctuations in the broader debt markets, where the Ratings business is a cornerstone. In addition, its Market Intelligence segment, alongside the Indices and Commodity Insights divisions, contributes to steady, dependable income.
S&P Global Inc. (NYSE:SPGI) also displayed robust financials, with operating cash flow reaching $5.7 billion in 2024, up from $3.7 billion a year earlier. Free cash flow rose to $5.27 billion, compared to $3.2 billion in 2023. This allowed the company to return $1.1 billion to shareholders via dividends. It pays a quarterly dividend of $0.96 per share, yielding 0.83%, as of April 13. The company has grown its dividend for 53 consecutive years.
1. Comfort Systems USA, Inc. (NYSE:FIX)
5-Year Revenue Growth: 21.86%
Comfort Systems USA, Inc. (NYSE:FIX) is a Texas-based company that offers mechanical and electrical contracting services. The bulk of the company’s revenue is generated through new commercial construction projects. However, maintaining existing systems and upgrading older ones also play an important role in its operations. Given the historically fragmented nature of the industry, the company has made acquisitions a core part of its strategy. Between 2007 and 2023, it allocated an average of $82.5 million per year toward acquiring other businesses—accounting for roughly three-quarters of its overall capital deployment during that period.
In the fourth quarter of 2024, Comfort Systems USA, Inc. (NYSE:FIX) reported revenue of $1.87 billion, which showed a 37.5% growth from the same period last year. The company’s net income came in at $145.9 million, up from $91.6 million in the prior-year period. Its cash position also came in strong, as it ended the year with $550 million available in cash and cash equivalents, compared with $205 million in 2023.
Comfort Systems USA, Inc. (NYSE:FIX) generated $210.5 million in operating cash flow, and its free cash flow came in at $171.7 million. In February, the company declared a 14.3% hike in its quarterly dividend to $0.40 per share. Through this increase, the company achieved its 13th consecutive year of dividend growth. The stock supports a dividend yield of 0.46%, as of April 13.
Overall, Comfort Systems USA, Inc. (NYSE:FIX) ranks first on our list of the best high growth stocks that pay dividends. While we acknowledge the potential of FIX 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 FIX 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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