5 Best Dividend Stocks For Steady Growth

2. Tractor Supply Company (NASDAQ:TSCO)

3-Year Average Dividend Growth: 39.3%
Consecutive Years of Dividend Growth: 14

Tractor Supply Company (NASDAQ:TSCO) is a large American retail chain that focuses on providing rural lifestyle products and services to customers in rural and suburban communities. On August 10, the company declared a quarterly dividend of $1.03 per share, which remained unchanged from its previous dividend. The company has raised its dividends for 14 years and its 3-year average dividend growth rate stands at 39.3%. With a dividend yield of 1.88% as of August 29, MORN is one of the best dividend stocks on our list.

Tractor Supply Company (NASDAQ:TSCO) was a part of 37 hedge fund portfolios, compared with 39 in the previous quarter, as per Insider Monkey’s database. The collective value of stakes owned by these hedge funds is over $560.7 million.

Conestoga Capital Advisors mentioned Tractor Supply Company (NASDAQ:TSCO) in its Q2 2023 investor letter. Here is what the firm has to say:

“Tractor Supply Company (NASDAQ:TSCO): TSCO operates over 2,000 retail stores that sell various home/agricultural products to farmers and ranchers. When TSCO reported its Q1 results, it missed its comparable stores estimate due to weather and the stock sold off. TSCO has been a successful long-term holding given solid growth in its end market and superior execution of management.”