5 Best Dividend Growth Stocks With 10%+ Yearly Increases

In this article, we discuss 5 best dividend growth stocks with 10%+ yearly increases. If you want to read our detailed analysis of dividend growth stocks and their performance in the past, go directly to read 13 Best Dividend Growth Stocks With 10%+ Yearly Increases. 

5. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 104
5-Year Average Annual Dividend Growth Rate: 16.14%

UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates across several segments within the healthcare industry. It’s one of the largest health insurance and healthcare services companies globally. The company has been raising its dividends for 13 consecutive years and currently offers a quarterly dividend of $1.88 per share. As of December 12, the stock has a dividend yield of 1.38%. With a 5-year annual average dividend growth of 16.14%, UNH is one of the best dividend stocks on our list.

According to Insider Monkey’s database of Q3 2023, 104 hedge funds owned stakes in UnitedHealth Group Incorporated (NYSE:UNH), compared with 111 in the preceding quarter. The total value of these stakes is nearly $11 billion.

4. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 109
5-Year Average Annual Dividend Growth Rate: 10.31%

An American multinational financial services company, JPMorgan Chase & Co. (NYSE:JPM) is next on our list of the best dividend stocks. The company has raised its dividends at an annual average rate of 10.31% over the past five years and it currently pays a quarterly dividend of $1.05 per share. The stock has a dividend yield of 2.64%, as recorded on December 12.

As of the close of Q3 2023, 109 hedge funds in Insider Monkey’s database owned stakes in JPMorgan Chase & Co. (NYSE:JPM), up from 106 a quarter earlier. The consolidated value of these stakes is more than $6.6 billion.

3. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 140
5-Year Average Annual Dividend Growth Rate: 17.92%

Mastercard Incorporated (NYSE:MA) is a New York-based credit card company that facilitates electronic funds transfers, enabling financial transactions between merchants, banks, governments, and consumers worldwide. The company offers a quarterly dividend of $0.66 a share, having raised it by 15.8% in December this year. Through this increase, the company stretched its dividend growth streak to 11 years and has raised its payouts at an annual average rate of 17.92% over the past five years. The stock has a dividend yield of 0.64%, as of December 12.

At the end of the third quarter of 2023, 140 hedge funds owned stakes in Mastercard Incorporated (NYSE:MA), up from 139 in the previous quarter, as per our database. These stakes are collectively valued at over $15.2 billion.

2. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 167
5-Year Average Annual Dividend Growth Rate: 16.27%

Visa Inc. (NYSE:V) is an American financial services company that operates one of the world’s largest electronic payment networks. In the past five years, the company has grown its dividends at an annual average rate of 16.27% and overall holds a 15-year track record of consistent dividend growth. It currently pays a quarterly dividend of $0.52 per share and has a dividend yield of 0.81%, as of December 12.

As per Insider Monkey’s database of Q3 2023, 167 hedge funds reported having stakes in Visa Inc. (NYSE:V), down from 171 a quarter earlier. The consolidated value of these stakes is more than $24.4 billion. With roughly 17 million shares, TCI Fund Management was the company’s leading stakeholder in Q3.

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 306
5-Year Average Annual Dividend Growth Rate: 10.16%

Microsoft Corporation (NASDAQ:MSFT) has raised its payouts for 17 consecutive years with a 5-year average annual dividend growth of 10.16%. The multinational tech company currently pays a quarterly dividend of 0.75 per share and has a dividend yield of 0.81%, as of December 12.

Of the 910 hedge funds in Insider Monkey’s database at the end of Q3 2023, 306 funds owned stakes in Microsoft Corporation (NASDAQ:MSFT), up from 300 in the previous quarter. The overall value of these stakes is over $72 billion.

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