24 Dividend Growth Stocks to Buy and Hold in 2024

In the realm of investments, consistent returns are always a coveted feature. Dividends stand out as a way to realize those returns, offering investors a steady income stream. However, dividends that grow over time can be considered the icing on the investment cake, offering both income and the potential for capital appreciation. As we look towards 2024, dividend growth stocks continue to attract investors seeking reliable financial vehicles capable of withstanding economic fluctuations and delivering incremental increases in their payouts.

The Allure of Dividend Growth Stocks

Dividend growth stocks represent companies that not only pay dividends but also have a history of increasing their dividend payouts year after year. This is often interpreted as a signal of a company's financial health and stability—traits that are particularly appealing during uncertain or volatile market conditions. Investors looking to build a portfolio for the future may find that these stocks offer a blend of growth, yield, and resilience.

Microsoft Corporation MSFT: A flagship Dividend Growth Stock

When talking about stocks with appreciating dividends, MSFT is a beacon in the technology sector. Microsoft Corporation, a leading light in the American multinational technology arena, has diversified its revenue through various products and services. Renowned for its computer software, consumer electronics, personal computers, and related services, MSFT has a storied history of rewarding shareholders. Its ability to innovate and stay relevant in an ever-changing market underscores its inclusion in any list of dividend growth stocks.

Microsoft's evident financial prowess is reflected in its ranking as No. 21 in the 2020 Fortune 500, and being the world's largest software maker by revenue as of 2016. It's a member of the Big Five of the U.S. information technology industry, standing shoulder to shoulder with giants like Google, Apple, Amazon, and Facebook. Such pedigree isn't just brandishing of reputation; it's indicative of a robust revenue-generating enterprise capable of maintaining and elevating dividend distributions over time.

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