2 Attractive Dividend Stocks Whose Dividends Could Double

Buying and holding high-quality dividend stocks is one of the best ways for any investor to consistently beat the market over the long term. But while many people focus primarily on stocks with sky-high annual dividend yields, even more important is understanding how each company plans to adjust its future payouts. Of course, that includes not only being aware of which dividend stocks are at risk of suspending their payouts, but also knowing which companies stand the highest chance of substantially increasing their dividends over time. Let's focus on the more optimistic side of that equation. Here are two promising dividend stocks whose dividends could double going forward.

With its $0.10-per-share quarterly payout equating to an annual yield of just 0.25% at today's share prices, Universal Display (NASDAQ:OLED) isn't exactly a Dividend Aristocrat. Rather, bullish investors rightly place their focus on the massive growth prospects for Universal Display's flagship organic light emitting diode (OLED) technology, whether it comes from next-generation flexible smartphone displays, rollable and semi-transparent televisions, or novel OLED lighting concepts down the road. Meanwhile, investors in glass technologist Corning (NYSE:GLW) are currently enjoying a $0.20-per-share payout that yields roughly 2.9% annually at today's prices. Similar to Universal Display, Corning has already doubled its payout from $0.10 per share in 2014 -- namely through a steady series of increases that can be credited to the success of the company's (soon-to-be-concluded) four-year strategy and capital-allocation plan, which it put into place in late 2015. Under that plan, Corning returned more than $12.5 billion to shareholders through dividends and stock repurchases, while simultaneously investing $11 billion toward driving future growth.

Source: Motley Fool

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