If You Invested $24,370 in This Top Stock 5 Years Ago, You'd Be Making $1,000 in Dividends This Year
A great reason to hold a dividend growth stock for the long term is that its payouts will increase over time. That means that you are earning more on your initial investment with each annual increase. Suppose, for example, you are collecting $100 in dividend income this year. If the company you invested in were to increase those payouts by 5% each year, then after 14 years you would be collecting double that amount. That's why investing in dividend growth stocks can be a great way to supplement your income.
One stock that has been a great income investment in recent years is Eli Lilly (NYSE: LLY). The healthcare company has not only delivered some fantastic returns for investors, but it has also been hiking its payouts.
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Source Fool.com
