3 Great Income Stocks That Could Double Their Dividends

Consider this: If you bought shares of Johnson & Johnson fifteen years ago, you would have been buying a stock offering a $0.72 dividend annually, per share. At the time, that equated to about a 1.3% yield. But today, the stock offers up $3.20 annually in dividends. In other words, if you had held this stalwart through the years, you'd be getting a nice 5.6% yield today on your cost basis.

Dividend stocks are the cornerstones of a well-constructed retirement portfolio. But when you pay for shares, you're buying more than the current yield -- you're buying the potential for greater and greater payouts over time. The three stocks I'm discussing today have the same potential (as JNJ) for dividend growth: Lowe's (NYSE:LOW) is the part of the duopoly in America's home improvement industry, with a 17% market share. Clearly, business has been good in the home improvement industry, because the second stock on our list today is paint specialist Sherwin-Williams (NYSE:SHW). Cardinal Health (NYSE:CAH) has slowly become something of a healthcare conglomerate.

Source: Motley Fool

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