Dividends are small but mighty wealth creators. That's abundantly clear in the data. Over the past 50 years, the average dividend-paying stock in the S 500 has delivered a 9.2% average annualized total return, according to data from Ned Davis Research and Hartford Funds. That has outperformed an equal-weighted S 500 index's 7.7% average annual total return.

However, the secret to dividend stocks lies in their growth. dividend growers and initiators delivered a 10.2% average annual return, significantly outpacing companies with no change in their dividend policy, with an average of 6.7%.

Some companies stand out for their ability to grow their dividend. Marsh McLennan (NYSE: MMC), Mastercard (NYSE: MA), and Equity LifeStyle Properties (NYSE: ELS) have delivered 10% compound annual dividend growth over the past decade. Here's why a few Fool.com contributors believe investors should take a closer look at these top-notch dividend stocks.

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Source Fool.com