Investors with a longer time horizon may be better suited finding companies with low to average yields, but with above-average dividend growth rates. These companies have the potential to double their dividend payments within just a few years. And if you reinvest dividends along the way, you'll end up receiving an even better yield on your original investment. Here are three great dividend stocks that could double their payments.
I might be addicted to Starbucks (NASDAQ:SBUX), but trust that my multiple weekly visits to Starbucks stores didn't sway my judgment in including the company on this list. Apple (NASDAQ:AAPL) is no longer the growth company it was when the iPhone first came out 10 years ago. It instituted a huge capital return program about five years ago. Lowe's (NYSE:LOW) has increased its dividend for 54 consecutive years. That's a streak management doesn't want to break. But more importantly, the company has a renewed focus on growing its dividend, with plans to increase it rapidly over the next few years.
Source: Motley Fool
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