13 Best Dividend Growth Stocks With 10%+ Yearly Increases

2. Visa Inc. (NYSE:V)

5-Year Average Annual Dividend Growth Rate: 15.4%

An American multinational payment card service company, Visa Inc. (NYSE:V) offers a wide range of related services and products to its consumers. The company’s growth is largely fueled by the global shift towards digital payments, a trend accelerated by technological advancements. Despite the progress in electronic transactions, cash still remains the primary payment method in many developing areas, presenting a significant opportunity for growth. As per the Federal Reserve, cash use dropped to 16% of transactions in 2024, highlighting the increasing preference for digital payments. Younger generations, particularly Gen Z and Millennials, are leading this change, favoring contactless and mobile payment methods. Demographic shifts and advancing technology continue to drive the widespread adoption of digital wallets and other cashless solutions.

In fiscal Q1 2025, Visa Inc. (NYSE:V) reported $9.5 billion in revenue, reflecting a 10% increase from the same period last year. The company processed 63.8 billion transactions in the quarter ending December 31, 2024, marking an 11% rise compared to the previous year. Payment volume also saw a 9% year-over-year increase on a constant-dollar basis.

Visa Inc. (NYSE:V) also showed a strong cash position, ending the quarter with over $16 billion in cash and cash equivalents. Operating cash flow for the quarter reached $5.4 billion, up from $3.6 billion in the prior-year period. The company returned $5.1 billion to shareholders via dividends and share buybacks. It pays a quarterly dividend of $0.59 per share and has a dividend yield of 0.68%, as of February 8. V is one of the best dividend stocks on our list as the company maintains a 16-year streak of consistent dividend growth.