5 High-Growth Forever Dividend Stocks to Buy

1. Lowe’s Companies, Inc. (NYSE:LOW)

5-Year Average Annual Dividend Growth Rate: 20.1%
Dividend Yield as of March 4: 2.10%

Lowe’s Companies, Inc. (NYSE:LOW) is a North Carolina-based home improvement company. In March, Truist maintained a Buy rating on the stock with a $235 price target. The firm mentioned that the company’s sales trends remained stable in the fourth quarter.

Lowe’s Companies, Inc. (NYSE:LOW) currently offers a quarterly dividend of $1.05 per share for a dividend yield of 2.10%, as of March 4. The company has been rewarding shareholders with growing dividends for the past 59 years, which places it as one of the high-growth dividend stocks on our list. Its five-year annual average dividend growth rate stands at 20.1%.

Lowe’s Companies, Inc. (NYSE:LOW) was a popular stock among hedge funds in Q4 2022, as 68 funds tracked by Insider Monkey owned stakes in the company, up from 61 in the previous quarter. These stakes are valued at roughly $5.7 billion.

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 Profitable Mid-Cap Stocks Now and 16 High Growth Non-Tech Stocks That Are Profitable

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