5 Dividend Growth Stocks with the Highest Growth Rates

1. Lowe’s Companies, Inc. (NYSE:LOW)

12-Month Dividend Growth Rate: 31%

Lowe’s Companies, Inc. (NYSE:LOW) is a North Carolina-based company that deals in home improvement products and services. In the past 12 months, the company has raised its dividend by 31% and currently pays a quarterly dividend of $1.05 per share. It holds one of the longest dividend growth track records in the market of 59 years. The stock has a dividend yield of 1.99%, as of February 13.

The number of hedge funds tracked by Insider Monkey owning stakes in Lowe’s Companies, Inc. (NYSE:LOW) grew to 61 in Q3 2022, from 53 in the previous quarter. These stakes are valued at over $5.3 billion collectively.

Pershing Square Holdings mentioned Lowe’s Companies, Inc. (NYSE:LOW) in its Q2 2022 investor letter. Here is what the firm has to say:

“Lowe’s Companies, Inc. (NYSE:LOW)’s is a high-quality business with significant long-term earnings growth potential underpinned by a superb management team that is successfully executing a multi-faceted business transformation. (Click here to read the full text)

You can also take a look at 12 Most Promising Small Cap Stocks and 12 Most Undervalued Dow Stocks To Buy

Follow Insider Monkey on Twitter