10 Dividend Growth Stocks For July 2023

Jul. 15, 2023 9:00 AM ET ABT, ELV

Summary

• The article presents a monthly series of 10 top-ranked dividend growth stocks for further research and potential investment.
• The stocks are ranked based on quality scores, with tie-breaking metrics including dividend safety scores, credit ratings, and forward dividend yield. The top three stocks for this month are Visa, UnitedHealth, and Intercontinental Exchange.
• The article also provides key metrics and fair value estimates for each stock, and suggests that Tractor Supply Company passes all selection criteria for adding new positions to the author’s DivGro portfolio.

Introduction

The article discusses 10 dividend growth stocks that are worth considering for your portfolio in July 2023. The author highlights stocks that have a history of increasing their dividends over time and that are currently trading at attractive valuations.

Dividend growth stocks

Dividend growth stocks are a type of stock that has a history of increasing its dividend payments over time. These stocks can be a good way to generate income for your portfolio, and they can also provide some protection against inflation.

Stocks mentioned in the article

The following stocks are mentioned in the article:

• 3M (MMM)
• Procter & Gamble (PG)
• Coca-Cola (KO)
• Johnson & Johnson (JNJ)
• Walmart (WMT)

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Conclusion

The author concludes by stating that these 10 stocks are all good options for investors who are looking for dividend growth stocks. The author argues that these stocks have a history of increasing their dividends over time, and they are currently trading at attractive valuations.

Additional considerations

When choosing dividend growth stocks, it is important to consider the following factors:

• The company’s track record of dividend growth.
• The company’s financial strength.
• The company’s dividend payout ratio.
• The company’s valuation.

Risks

There are some risks associated with investing in dividend growth stocks. These risks include:

• The company could cut its dividend.
• The company could experience financial difficulties and go bankrupt.
• The stock price could decline.

Conclusion

Dividend growth stocks can be a good way to generate income for your portfolio and provide some protection against inflation. However, it is important to consider the risks before investing in these stocks.

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