Dividend Stocks That Could Double Payouts In 5 Years

Dividend aristocrats are dividend-paying companies that comprise the S&P500 Dividend Aristocrats Index. These companies are known for their policy of consistent dividend increases for more than 25 years in a row. Since 1989, dividend aristocrats as a group have produced higher average risk-adjusted returns than the broader S&P500 index. The group is a combination of blue chip companies operating in diverse industries. While all S&P500 Dividend Aristocrats Index constituents increase their dividends every year, some companies make larger payout hikes than others.

Here are three dividend aristocrats that have bolstered their dividends at fast rates. If these three companies maintain their average rates of dividend hikes from the past five years, they will double their payouts within five years: Target Corp. (TGT), Medtronic Inc. (MDT) and T. Rowe Price Group (TROW).

Source: Seeking Alpha

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