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I want to tell you about a high-quality stock that pays big, growing, reliable dividends. These growing dividends are funded by growing profits because this business is a leading home improvement retailer.

If you ask Americans, most would say they want to own their space. Homeownership is still part of the American Dream. Moreover, most people like to occupy a space that looks and feels nice. Nobody wants to live in a crummy place. Because houses are physical structures that slowly deteriorate, there's practically unlimited long-term demand for this company's products. And that means they should be able to grow their revenue, profit, and dividend for years to come. Perhaps best of all, it looks undervalued right now.

Price is what you pay. But value is what you get. Why’s that important? Because buying a dividend growth stock when it’s undervalued should provide a higher yield, greater long-term total return potential, and reduced risk. With this in mind, I want to tell you about an opportunity I recently came across with shares of Lowe's Companies Inc., which appear to be trading at a significant discount today.

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