Famous investors aren't all that different from investors who aren't well-known. They look for stocks that offer solid growth prospects. They don't want to pay too much for what they're getting. And, in many cases, they like to receive dividends.

Bill Ackman serves as a great example. The hedge fund billionaire focuses on growth and valuation. While many of his stocks don't pay dividends, some do. One especially stands out. Ackman owns nearly $1.5 billion of a Dividend King that's a household name.

We can know beyond a shadow of a doubt that Ackman's favorite Dividend King is Lowe's Companies (NYSE: LOW). The home improvement retailer certainly qualifies as a Dividend King as it has increased its Dividend for over 50 consecutive years. Lowe's also happens to be the only Dividend King in Ackman's Pershing Square Capital Management portfolio. 

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Source Fool.com