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Living off of dividends is a dream come true. I’ve been living this dream for about five years now. And trust me, it’s everything it’s cracked up to be – and more.
However, you want to make sure that you’re not just living off of dividends. You want to live off of safe, growing dividends. Safety is super important. The last thing you want to do is see your passive income take a hit from dividend cuts. And growth is critical.
Inflation is like this invisible tax that makes everything more expensive over time. If your dividend income can’t keep up with that, you’ll fall behind.
This is why I focus on, and personally invest in, high-quality dividend growth stocks. These are stocks that represent equity in world-class enterprises that pay safe, growing dividends to shareholders.
Today, I want to tell you about three dividend growth stocks that just increased their dividends. Ready? Let’s dig in.
#1 Dividend Growth Stock Rewarding Investors: National Retail Properties (NNN)
National Retail Properties just increased their dividend by 1.9%.
1.9% isn’t a huge increase. But it’s better than no increase at all. And it’s definitely a lot better than a dividend cut, which is what you tend to get with a lot of high-risk, high-yield junk stocks out there. National Retail is no junk stock. It’s one of the highest-quality stocks you’ll find, with one of the most reliable dividends you’ll find. Want evidence of that? Well, here you go.
This marks the 33rd consecutive year of dividend increases for the real estate company.
#2 Dividend Growth Stock Rewarding Investors: Cummins (CMI)
Cummins just increased their dividend by 7.4%.
How can you not love being a dividend growth investor. You wake up one day and see that a fine company you’re invested in decided to give you a “pay raise” for doing nothing at all, other than simply holding stock. I mean, how much easier can it get? Not only that, but this excellent news comes in like clockwork, year after year.
The engine and generator company has now increased its dividend for 17 consecutive years.
This stock has been a bit of a laggard, up only 5% this year.
#3 Dividend Growth Stock Rewarding Investors: PPG Industries (PPG)
PPG just increased their dividend by a whopping 9.3%.
How’s that for an increase in passive income that can keep up with inflation? See, this is what’s so great about high-quality dividend growth stocks. It’s all about the growth of those dividends. While some investors load up on high-yield stocks and watch their performance lag and their dividends drop, high-quality dividend growth stocks like PPG give you great long-term investment performance and ever-higher dividends.
This is the 51st consecutive year of dividend increases for the coatings and materials company.
This isn’t just your run-of-the-mill Dividend Aristocrat, with 25 or more consecutive years of dividend increases. No. This is a Dividend King, with more than 50 consecutive years of dividend increases. Amazingly, the growth is accelerating. This 9.3% dividend increase is much higher than the stock’s 10-year dividend growth rate of 6.9%. No growth slowdown here at all. The only drawback to the dividend picture is the yield – the stock yields 1.4%, so you’re relying more on that growth with this one.
After a 50% move higher over the last year, the stock does look a little pricey.
It’s trading hands for a P/E ratio of 33, which represents a premium relative to its five-year average P/E ratio of 27.3. That said, this is the kind of high-quality dividend growth stock that is worth paying up for. You don’t get a diamond for the price of a cubic zirconia. And PPG is a diamond of a stock for sure.
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