These 3 Dividend Growth Stocks Are Raising Their Dividends

Think living off of passive dividend income is awesome? What if it were more awesome than you think? Want to collect even more dividends than you were before? I used to play the Monopoly board game as a kid.

And I remember sometimes drawing the Chance card that said "bank pays you a dividend of $50". In fact, I have a framed version of that Chance card right next to me on my desk. So even as a kid, I had a dream of living off of dividends. I imagined walking out to my mailbox a few times per month to pick up my dividend checks.

Well, it's a lot better than that in reality. First, my dividends are digitally deposited automatically into my brokerage account.

I don't even need to walk to a mailbox. Second, these dividends are routinely increasing. That's because I invest in high-quality dividend growth stocks. What could be better than totally passive dividend income? Totally passive dividend income that's increasing all by itself. And that's what this video is all about. Today, I want to tell you about three dividend growth stocks that just increased their dividends.

The first dividend increase you should know about came from American Tower Corp. - stock ticker AMT.

I know. You might be asking yourself, what's so exciting about a 2.4% dividend increase? Well, American Tower tends to increase its dividend every. That's right. dividend increases. Gotta love it. And these quarterly increases add up - the stock's five-year dividend growth rate is 19.1%.

No, it's not the cheapest stock out there. But you get what you pay for. This isn't cheap junk. It's a phenomenal business. Most basic valuation metrics are elevated relative to their respective recent historical norms. Notably, however, the yield is right in line with its own five-year average. A dip would be great. But if you don't already own this name, you might want to put it on your radar.

The second dividend increase I want to tell you about came courtesy of Clorox Co. - stock ticker CLX.

Not the biggest dividend increase in the world. But it does beat inflation. And this increase is in a very long line of dividend increases.

The stock saw a massive pandemic-induced spike, as people rushed out to stock up on cleaning supplies. The stock has come back down, though, and is down more than 11% YTD. Many of its basic valuation metrics are in line with, or even slightly below, their respective recent historical averages. The stock now yields 2.6%, which is 20 basis points above the stock's own five-year average. Could be a good time once again to stock up on this name.

Last but not least, let's talk about the dividend increase that came in from LyondellBasell Industries NV - stock ticker LYB.

This is a pretty strong dividend increase, especially considering that the stock yields 4% right now. The stock gives you a compelling combination of yield and growth. It's a nice balance between the two.

The stock has been on a tear over the last year, up by about 50%. And it hasn't slowed down into 2021, either. It's up 23% YTD. But this was one of those stocks that got so beaten up during the pandemic crash last spring, it's basically just rebounded back to where it probably should be.

It's only slightly above where it was in late 2019. And we're almost two years on from that point. The stock's five-year average yield is 4.2%, so there's not a huge delta there. I wouldn't say it's undervalued, but it is a higher-yielding chemicals stock to consider, especially if it were to dip back down to the $100/share level.

Video Length: 00:06:55

Disclaimer: Please consult with a licensed investment professional before investing any of your money. Never invest in a security or idea featured on this channel unless you can afford to lose ...

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